How A Stellar Marketing Plan Can Start Making You Money
Finding motivated sellers is the key to making a profit and building long term wealth with real estate investing. Developing a strong marketing campaign to attract these sellers will help you close more deals and bring in more money, and who doesn’t like that?
The main reason to market to motivated sellers is that they will be more likely to sell to you at a discounted price, and many will be open to creative terms. Having a clear understanding of these sellers will help you develop your marketing plan. I like to say, “the money in real estate in is marketing your business, not in doing it!”
Here are some of the key steps in an effective marketing plan targeting motivated sellers.
It is important to prepare yourself for the calls that will start coming in once you start marketing before you implement your strategies.
- Setting up a phone system is important. When first starting out you should aim to answer your phone yourself whenever possible, but you also need to be prepared for the calls you can’t answer. The best solution to this is to give the caller an option to speak to a live operator by using an answering service.
- Business cards are key to presenting yourself as a professional in the REI business.
- Next, you need to develop a marketing plan that includes your budget, the lists you will pull to find leads, and planning your actual marketing materials. The most effective marketing tools in my business are sending postcards and placing bandit signs around town with my phone number and verbiage like “We Buy Houses.”
- Having a follow-up system will help you nurture the leads you find through marketing and convert them into deals. Not all sellers are sold on the first contact, and by having a solid follow-up plan, you can slowly convert these leads.
After preparing a strong marketing strategy, you are ready to start implementing your plans and taking calls!
- Use a phone form so that when you get calls you are prepared to collect all of the information you need to evaluate if a deal will be profitable or not.
- Once you start marketing, you will need to tweak your campaigns as you go along. You will find out what works for you, and what doesn’t. You’ll need to adjust accordingly.
Having an automated system can help you plan your marketing campaign, keep a database of leads, and track your follow-ups with little effort. Using a system like ProfitGrabber Pro can help you leverage your time and help ease the sometimes tedious process of marketing.