How To Avoid A Big Real Estate Marketing Mistake To Sell Your Next Property

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One of the biggest problems I see real estate investors and agents make on the internet when they are marketing their business or their property is very simple, yet often overlooked.  How do I know?  Because my clients and coaching students do it all the time.  Not everyone is doing this one simple mistake but a lot of people do.  I bet you are curious as to what is it, right?  Well, I’ll tell you.

But before I go ahead and tell you this little strategy, I must tell you that it might seem very obvious.  But I bet that most people marketing their business on the internet are not using it properly for several reasons.  One reason is that they think that if they throw a bigger net in the “internet ocean” they’ll catch more fish, get more traffic and make a lot more money.  That can be a good reason but it happens on fewer basis and it happens to people who are already established on the internet and have big reach.

The other reason why some people don’t take this success secret to heart and use it in their own business is because it takes a little time to get it done right.  You’ll need to do some research.  Once you complete the research, you’ll need to implement what you have done in your research phase into your business.  And to most people, that’s too much work.

But let me just say this one thing.  Those that DO the things that seem like too much work, end up owning the market and being 10x more successful than those that do not.  Then, people who did not do the necessary steps to be successful sit on the sidelines and wonder what happen.  They ask themselves questions such as: “How can this guy be so successful?  It doesn’t seem like he works that much and I’m busting my butt.  Yet, he is far more successful than I am.”  Have you heard that one before?  I have.

So what is that big secret?  I’ll tell you right now

They simply build a really good foundation for their business.  Today, I want to talk to you about one of those “foundation walls” you’ll need to set up for yourself so you can be successful marketing your business on the internet.  So, what is that foundation wall you ask?

In order to be successful on the internet, you need to figure out who your target audience is for your particular market.  Yes, I know you have heard that one before.  But have you incorporated it in your business?  I bet you haven’t.  If you have, how targeted is your audience?

If you are selling a real estate property to retail buyers in Tampa Bay Florida, is your target audience “people who want to buy a home in Tampa bay Florida?” If so, I’ll tell you right now, this approach is NOT targeted.

You need to go way further than that.  Think about it, if your retail buyer is a 47 year old male, who makes $250,000 a year, has 4 kids and loves spending time outdoors, do you think he is going to want to buy your $150,000 house that has 3 bedroom, 1,500 square feet in a 60 year old neighborhood?  Probably not.  I know this seems like an extreme example but it is very true.

Let me ask you this.  How many times did you show a house to a retail buyer who had something totally different in mind?  That’s why you need to sit down and nail down your retail buyer. For instance, how about someone who is possibly in his 20s, married with 1-2 kids and is looking for a starter home and doesn’t mind older neighborhood with mature trees, big yard and so forth.

Do you think if you marketed your property to that buyer, you’ll be a lot more successful selling it? I think you would.  Here’s a kicker. On the internet, depending on the marketing media you are using, you can target that person with laser-like precision.

So, before you go any further marketing your next property, sit down with a piece of paper and write out and even DRAW out your perfect buyer.  Yes, I said your perfect buyer.  Be as specific as you can.  Think about what they do, what car they drive, what kind of personality they have, and who they interact with on daily basis.

Once you complete that exercise, you’ll have your buyer and you can create your marketing to suit that target audience to put your marketing piece right in from of them.

I can already hear it.  But Peter, if I do that, I won’t get as many leads?  Yes, that’s true but you will get quality leads and neither one of you is going to be wasting each others time.  Heck, if you just target to the 20s, possibly married, with 1-2 kids who is looking for a starter home and doesn’t mind an older neighborhood, you’ll be ahead of most of your competition.

Good luck and tell me your feedback in the comments below.  Believe me, just because this advice is free, it doesn’t mean it’s useless 🙂  Nwo go out there and take massive action.

To Your Success,

Peter Kolat

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.