Secrets to Attract Motivated Sellers
The most difficult part what choosing what type of business to launch.
Successful real estate professionals have a proven marketing plan in place and continuously and consistently execute it.
The winning marketing plans lead to more opportunities to buy and sell houses more profitable activities.
The 3 steps to having a successful marketing campaign is 1) find your target market, 2) use an effective method of advertising in which to connect 3) track performance and make any necessary adjustments.
Your target market depends greatly on which strategy you are using.
Different strategies require a different target market.
For example, if you are looking to specialize in short sales, you will not want to mail to people who are current on their mortgage.
By the same token, if you are looking to purchase properties with no money no credit strategies, such as subject to financing, you would not want to mail to a list of 90 day past due.
Combine your target list with your strategy correctly and you will have tremendous success.
Flyers, bandit signs, networking, and newspaper ads all work, but it requires quite a bit of money and effort as well as time with no guarantee of success.
People who are looking to sell a house don't go to one particular shopping mall or all read the same newspaper.
General campaigns that require hundreds of eyes to see your message before someone calls you don't not work well alone.
Broad marketing campaigns in conjunction with a specific, targeted marketing program work best.
The targeted marketing program that works best is direct mail, provided you utilize the right message to the right market.
Direct mail generally comes in two forms: postcards and letters.
Many people are initially reluctant to direct mail because of the costs involved as testing direct mail can be very expensive.
A traditional direct mail campaign can yield you anywhere from 2-4% response.
If your campaign doesn't work well, you will have invested considerable money to get this feedback.
Postcards are the form of direct mail that most new investors start out testing.
You can create your message and design your postcard online in very little time.
And you can outsource the printing, stamping, and mail to another company.
Overall, you can create a postcard online, ship out several hundred, keep your costs under $.60 per postcard (including postage) and not have to invest very much time or effort.
Studies show that very few people will actually look at a postcard.
Most likely, postcards will immediately wind up right in the trash.
You may offend your potential seller with your message.
For example, if you send a foreclosure postcard to a family's home, and the children check the mail, they may ask the parents questions about why they would receive this type of letter, putting the homeowner in an awkward position.
Like the general methods listed above, postcards require hundreds of eyes to see your message before someone will take action and your conversion rate will typically be very low.
While there is less time and effort than bandit signs, flyers, or networking, most investors wind up with the same results at several times the cost.
Many savvy, experienced investors will stay away from postcards.
A typical letter writing campaign should yield you close to 4% return and a great campaign up to 14%!
Letter campaigns require more money for the paper and the envelopes, plus the extra time and effort of stuffing and stamping.
The success of a letter writing campaign lies in two areas.
If you have a logo on the outside, a printed stamp, a source of a different city, or is mailed in a standard sized white envelop, then you will be categorized as junk mail.
And the majority of the population discards junk mail.
Once people open your letter, you must have a simple message and immediate call to action.
Many investors make the mistake of trying to 'copywrite' a letter, or sending out 3 pages, hoping that if someone reads the entire letter, they will be so excited that they'll call you and sell you their house.
Most people who see type written letters on multiple pieces of paper will read the first couple of lines and throw away.
The most proven and effective direct mail campaign for real estate professionals is that of handwritten letters.
If done properly, you will yield a 14% or higher response rate, which is almost 4 times industry average for direct mail programs.
Make sure you are utilizing the proper list for your strategy.
If you follow the steps correctly, you will be able to have a 14%+ response rate on your direct marketing.
The caveat is that this type of direct mail is difficult and time consuming.
Depending on your printer, your yellow notebook paper may jam frequently.
If budget allows, it is recommended to outsource these tasks to another company.
I've known several investors who are excited about the process and give up after a couple of days due to the labor involved.
A simple and easy marketing program will be consistently performed.
You should have a good call resource manager to keep track of everyone who calls, their demographics, and the outcomes of the calls.
Tracking your calls and consistent follow up will allow real estate professionals to maximize their leads best.
If you are a real estate professional looking to grow your business, direct mail may be the best way to grow.
Find a targeted lead list and utilize the handwritten letters methods for maximal results.
The steps are the keys to having a successful career in real estate.
He is also part of the Entrepreneurs-Incubator, which finds leads, writes letters, stuffs envelopes, and mails these letters to targeted customers on behalf of other Real Estate Investors across the U.S. E-I provides a Call Resource Management system for their clients so they may track all their incoming calls.
E-I includes a website, ebooks, and trainings on how to screen callers.
Real Estate Self Promotion - Give Them a Reason Why
Simple Steps to Getting More Real Estate Leading Using Online Ninja Tricks
Realtor Marketing Tips From Top Producers to Knock Your Socks Off
Leveraging 800 Call Capture to Generate More Real Estate Leads
Real Estate Photography Tips For Realtors - Don't Do it Yourself, You'll Lose Your Commission Check
Realtor Marketing Plan Ideas - The Ultimate Walking Billboard to Generate High Quality Leads
New Realtor Marketing Ideas - Don't Nag Your Friends and Family For Business Unless You Do It Right
Creating a Strategic Marketing Plan For Real Estate
Active and Passive Mortgage Realtor Marketing Compared
Defining Your Target Markets For Realtors - Stop Selling to Everybody Out There, You're Losing Money
3 Ways Mortgage Professionals and Loan Officers Can Turn Business Cards Into Cheap Mortgage Leads
Top 7 Tips to Help Loan Officers Generate Their Own Cheap Mortgage Leads
Realtor Marketing Tools - Collect a Flood of Free Client Referrals Every Month
Real Estate Call Capture Giving Agents a Leg Up on Their Competition
Successful real estate professionals have a proven marketing plan in place and continuously and consistently execute it.
The winning marketing plans lead to more opportunities to buy and sell houses more profitable activities.
The 3 steps to having a successful marketing campaign is 1) find your target market, 2) use an effective method of advertising in which to connect 3) track performance and make any necessary adjustments.
Your target market depends greatly on which strategy you are using.
Different strategies require a different target market.
For example, if you are looking to specialize in short sales, you will not want to mail to people who are current on their mortgage.
By the same token, if you are looking to purchase properties with no money no credit strategies, such as subject to financing, you would not want to mail to a list of 90 day past due.
Combine your target list with your strategy correctly and you will have tremendous success.
Flyers, bandit signs, networking, and newspaper ads all work, but it requires quite a bit of money and effort as well as time with no guarantee of success.
People who are looking to sell a house don't go to one particular shopping mall or all read the same newspaper.
General campaigns that require hundreds of eyes to see your message before someone calls you don't not work well alone.
Broad marketing campaigns in conjunction with a specific, targeted marketing program work best.
The targeted marketing program that works best is direct mail, provided you utilize the right message to the right market.
Direct mail generally comes in two forms: postcards and letters.
Many people are initially reluctant to direct mail because of the costs involved as testing direct mail can be very expensive.
A traditional direct mail campaign can yield you anywhere from 2-4% response.
If your campaign doesn't work well, you will have invested considerable money to get this feedback.
Postcards are the form of direct mail that most new investors start out testing.
You can create your message and design your postcard online in very little time.
And you can outsource the printing, stamping, and mail to another company.
Overall, you can create a postcard online, ship out several hundred, keep your costs under $.60 per postcard (including postage) and not have to invest very much time or effort.
Studies show that very few people will actually look at a postcard.
Most likely, postcards will immediately wind up right in the trash.
You may offend your potential seller with your message.
For example, if you send a foreclosure postcard to a family's home, and the children check the mail, they may ask the parents questions about why they would receive this type of letter, putting the homeowner in an awkward position.
Like the general methods listed above, postcards require hundreds of eyes to see your message before someone will take action and your conversion rate will typically be very low.
While there is less time and effort than bandit signs, flyers, or networking, most investors wind up with the same results at several times the cost.
Many savvy, experienced investors will stay away from postcards.
A typical letter writing campaign should yield you close to 4% return and a great campaign up to 14%!
Letter campaigns require more money for the paper and the envelopes, plus the extra time and effort of stuffing and stamping.
The success of a letter writing campaign lies in two areas.
If you have a logo on the outside, a printed stamp, a source of a different city, or is mailed in a standard sized white envelop, then you will be categorized as junk mail.
And the majority of the population discards junk mail.
Once people open your letter, you must have a simple message and immediate call to action.
Many investors make the mistake of trying to 'copywrite' a letter, or sending out 3 pages, hoping that if someone reads the entire letter, they will be so excited that they'll call you and sell you their house.
Most people who see type written letters on multiple pieces of paper will read the first couple of lines and throw away.
The most proven and effective direct mail campaign for real estate professionals is that of handwritten letters.
If done properly, you will yield a 14% or higher response rate, which is almost 4 times industry average for direct mail programs.
Make sure you are utilizing the proper list for your strategy.
If you follow the steps correctly, you will be able to have a 14%+ response rate on your direct marketing.
The caveat is that this type of direct mail is difficult and time consuming.
Depending on your printer, your yellow notebook paper may jam frequently.
If budget allows, it is recommended to outsource these tasks to another company.
I've known several investors who are excited about the process and give up after a couple of days due to the labor involved.
A simple and easy marketing program will be consistently performed.
You should have a good call resource manager to keep track of everyone who calls, their demographics, and the outcomes of the calls.
Tracking your calls and consistent follow up will allow real estate professionals to maximize their leads best.
If you are a real estate professional looking to grow your business, direct mail may be the best way to grow.
Find a targeted lead list and utilize the handwritten letters methods for maximal results.
The steps are the keys to having a successful career in real estate.
He is also part of the Entrepreneurs-Incubator, which finds leads, writes letters, stuffs envelopes, and mails these letters to targeted customers on behalf of other Real Estate Investors across the U.S. E-I provides a Call Resource Management system for their clients so they may track all their incoming calls.
E-I includes a website, ebooks, and trainings on how to screen callers.
Real Estate Self Promotion - Give Them a Reason Why
Simple Steps to Getting More Real Estate Leading Using Online Ninja Tricks
Realtor Marketing Tips From Top Producers to Knock Your Socks Off
Leveraging 800 Call Capture to Generate More Real Estate Leads
Real Estate Photography Tips For Realtors - Don't Do it Yourself, You'll Lose Your Commission Check
Realtor Marketing Plan Ideas - The Ultimate Walking Billboard to Generate High Quality Leads
New Realtor Marketing Ideas - Don't Nag Your Friends and Family For Business Unless You Do It Right
Creating a Strategic Marketing Plan For Real Estate
Active and Passive Mortgage Realtor Marketing Compared
Defining Your Target Markets For Realtors - Stop Selling to Everybody Out There, You're Losing Money
3 Ways Mortgage Professionals and Loan Officers Can Turn Business Cards Into Cheap Mortgage Leads
Top 7 Tips to Help Loan Officers Generate Their Own Cheap Mortgage Leads
Realtor Marketing Tools - Collect a Flood of Free Client Referrals Every Month
Real Estate Call Capture Giving Agents a Leg Up on Their Competition