Hello BP agents community! So, I work in finance full time, and I got my sales agent license in Tampa/Clearwater area about a year ago, hang my license with Charles R. just cause of the low fees, and investor friendly from my perspective.
I am currently doing wholesaling, and that is where I spend my marketing money, at the same time I've done 3 deals as a Realtor working with buyers.
My question is.. How are you other investors/Realtors getting leads for your realty side? I have not done any marketing as a Realtor, and wonder what works for most of my colleagues out there that might be in my shoes.
Thank for all feedback!
Welcome to Bigger Pockets community. Be sure to check out “Learn” for all kinds of useful resources and free how to guides.
For me PPC on Facebook and google. Marketing has to be multifaceted. You don't sustain success with one medium. Use direct mail, editorial ads online and off, ppc, classified ads both online and off, and obviously referrals. It's all about testing then when it works rinse and repeat. My recommendation, find a coach or mentor whether it's paid or not and enlist. Do your homework thought, there's a lot of snake oil being sold.
Good luck sir!
If you're trying to market on a low budget, try local fairs/flea markets. Set up a table, give something fun out, and just start talking and gathering the leads.
You can market until your heart is content (wallet dry) but when you get out there and talk to people, there's no better selling.
I have been in your shoes very recently. If you are willing to put in the hard work and want to generate free leads I will tell you what I have been doing. Although a lot of agents would not agree with what I do but I have about a 30-40% close rate on my cold calls to FSBO's. I only make a couple each week but I call them and ask why they haven't listed with an agent yet and its usually the same answer "they want 6 or 7% to sell the house". I then ask a series of questions basically finding out if they are going to be buying another house or not and if so what the price point will be. If they are going to be buying another house I offer to discount my listing commission down to as little as 0% (but averaging closer to 1.5%) depending on what they are buying and how receptive they are to actually listing their home. The last deal I did I listed a $180K house for a $2,500 flat fee (sometimes people like flat fees as they are more clear to what they are paying in the end) and we sold that and they are currently under contract to buy a $230K house while using me as their buying agent. They agree to list with me if they buy with me exclusively. All of this came from one phone call that I make about once or twice a week. This is a referral based business and since doing this some of my discounted listing leads have turned into referrals and I am busier than I ever expected. I just listed one yesterday for 2% listing commission if they agreed to buy their next house with me as well. I do not see any issue with discounting commission if it gets a newer realtor their start in on the business.
@Jake Thomas you sound like a smart man! Seems like a great strategy to implement.
Thanks Ben, I appreciate that.
To be clear on my strategy the buyers agent NEVER gets discounted on their commission. Always pay them 3% as I expect to get 3% when I help my clients buy a house.
Discounting their commission won't help you make friends in this business.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.