Real Estate Marketing Getting Focused


Real Estate Marketing Getting Focused

Real Estate Marketing – Getting Focused
The single biggest question I​ get from people getting started in​ real estate (and experienced for that matter) is​ how to​ find deals? They say,​ I​ don’t know what to​ focus on​ in​ real estate .​
Should I​ focus on​ rehabbing? Should I​ focus on​ finding absentee owners? Should I​ focus on​ direct mail?
The problem with those questions is​ that the​ real estate investor is​ confused about the​ whole business of​ real estate and the​ marketing plan behind finding the​ deals .​
I​ understand that you​ go to​ a​ three-day real estate training,​ or​ you​ buy a​ home-study course,​ and every angle of​ real estate investing is​ attractive .​
You can see the​ potential in​ all these different markets .​
First things first,​ you​ have to​ get focused! This is​ the​ only way to​ get good at​ overcoming objections and solving problems unique to​ different types of​ motivated seller markets .​
Let’s simplify this whole real estate marketing game and boil it​ down to​ this:
Who,​ What,​ When,​ Where,​ Why & How (And How Much)!
Who:
Who is​ that we are going to​ be talking to? Who is​ that we are going to​ be trying to​ purchase homes from? you​ may want to​ work in​ one or​ two of​ the​ following markets: foreclosures,​ absentee owners,​ our probates,​ divorces,​ for sale by owners,​ tired landlords .​
This is​ your market – the​ who .​
What:
What are you​ going to​ say in​ your marketing? This may be a​ real estate marketing script that you​ follow,​ a​ direct mail postcard system that you​ roll out,​ or​ specific copy in​ your advertisement .​
Understand,​ that you​ are looking for motivated sellers to​ take action .​
If you’re taking the​ time to​ write a​ letter,​ place an​ ad,​ etc you​ want your prospect to​ do something like call you​ or​ email you​ or​ listen to​ a​ recorded message!
When:
When are your prospects going to​ receive your marketing message? Timing and consistency is​ everything to​ your real estate marketing campaign .​
You need to​ be the​ single person (or company) they think of​ when the​ moment strikes at​ which they realize they are,​ in​ fact,​ a​ motivated seller!
Where:
Where are they going to​ receive your message? Obviously if​ you’re door knocking,​ you’ll meet them at​ their home .​
But if​ you​ are marketing to​ personal representatives of​ an​ estate,​ the​ attorney may receive the​ letter and pass it​ on​ .​
It’s important to​ think about where your potential seller is​ going to​ see your message because this will affect the​ action they take.
Why:
This is​ where your real estate investing exit strategy comes into play .​
What are you​ going to​ do with the​ property once you’ve gained control? Are you​ going to​ wholesale it​ to​ another investor? Are you​ going to​ fix it​ up and flip it​ yourself? Are you​ going to​ hold on​ to​ it​ for rental?
As you​ grow into your real estate business,​ you’ll have a​ number of​ options for each deal depending on​ what’s most suitable for the​ piece of​ real estate .​
You may have properties that you​ can assign,​ rehab OR rent .​
But,​ initially,​ decide where you​ are on​ your real estate investing scale and work within those parameters .​
If you​ are asking: Should I​ focus on​ rehabbing houses or​ should I​ target probate? you’re asking two different questions.
How:
The next thing is​ the​ communication method .​
That is​ ‘how are we going to​ talk to​ our potential motivated sellers?’ So let’s suppose your market is​ foreclosures or​ pre-foreclosures (the who) .​
The next question is​ how? There are basically only four methods that we can use to​ communicate with our target market.
1. Driving for Dollars (or door knocking)
2. Telemarketing
3. Direct mail
4. Mass marketing
How Much:
I toss this in​ because this is​ going to​ affect your real estate marketing strategies .​
How much can you​ afford to​ spend? Understand for a​ few dollars a​ day,​ you​ can have an​ extremely profitable real estate investing business .​
It doesn’t take a​ lot of​ money to​ bring in​ home run deals!
Here’s a​ quick real estate marketing business plan that you​ can implement immediately using the​ Who,​ What,​ When,​ Where,​ Why & How approach:
Who: Pre-foreclosures within 2 weeks of​ sale at​ the​ courthouse (note how specific this is)
What: Yellow legal pad letters
When: Two weeks prior to​ the​ sale
Where: Prospect’s Home
Why: Seller is​ more motivated and has run out of​ options
How: Hand-written,​ hand addressed,​ first class postage and return address label
How Much: Based on​ a​ budget of​ $100/month,​ I​ will send 59.5 letters each week (remember to​ figure out your marketing budget down to​ the​ penny – stamps,​ ink,​ paper,​ envelopes,​ etc.)
And there you​ have it! 7 Simple Steps for your real estate marketing plan.






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