does anyone from Maryland use bandit signs and do you have any success with them?
I plan on putting out a bunch of them and wondering if its worth thebtime to do it.
I often see them but not on a consistent basis like they put them out once and gave up. Not sure why maybe no calls.
I see them all over the county looks like people just don't pay attention to them maybe?
Bandit signs in my opionion are very effective, having alot is fine, but you must be consistent with putting them up and of course strategic. I am curious how we can ascertain how effective a marketing strategy is, if we are not the owners of the information, When I use bandit signs the calls are pretty consistent. I know for a fact a real estate company in my area, Fort Washington has benefited heavily from the use of bandit signs.
The only way to truly gage how effective the bandit signs are is to put them in high traffic areas, and also use a separate line like google phone on the signs. Then you know whenever that line rings, its coming from a bandit sign.
How does bandit signed work compared to letters?
Never used them but in some areas they are illegal and may get removed.
I personally put out almost 100 large yellow bandit signs out every weekend for multiple weekends (placed Friday night, retrieved Sunday night) and only received a few calls each time. They were in high traffic areas. I also tested leaving them out during the week and a lot were taken down (roughly 30%) when I went back for pickup.
I did have a lady call that the first thing she said was "I have a house I need to get rid of!" (low equity - It could have been a sub2 deal but fell apart) and a few others that were not motivated telling me they just renovated their old house and it's listed on the MLS, ect.
Bandit signs are the "shotgun approach" where as letters and other forms direct mail are targeted towards people that are more likely to be motivated to sell.
It's back to the drawing board for me to test a new set of bandit signs. Different message. Different colors. Ect. Bandit signs can be effective but they are also VERY time consuming to place, record where they are placed (I use an app that works rather well), and then retrieve, you can do it yourself or hire someone to place them for you at about $1 per sign. For me it took about 3-4 hours to place my signs, and another ~2 hours to retrieve them (some were missing). It is frustrating putting in hours and hours just to receive a small handful of calls but it's part of testing and seeing what works in the market you deal in.
If you closed even one deal due to your bandit signs wouldn't it be worth it?
Unless you are a significant player in the game, it is my opinion we should do anything and everything we can until it truly does not makes sense to do so. Don't view it as wasting time, rather value the market information and education you will receive by performing this task. I don't see myself ever stopping driving for dollars, posting on Facebook, setting up internet alerts and triggers, sending direct mail, etc until my business is operating at a level where my time is more valuable elsewhere. Its a business, work it. And while you are on the road putting out signs listen to podcasts, books on tape, follow up with leads, field phone calls, take note of your local market, etc to better leverage your time.
I probably should have made the post more local specific. Sure, bandit signs probably do very well in some areas but Im just assuming they would not have the same activity in areas like Columbia MD or Chevy Chase.( I could be wrong. ) Just wasn't sure where Frederick was on the scale so to speak.
@Justin Lenk Thanks. That is kinda the answer I was looking for.
@Andrew Michael .....Perfect Comment Boss!!! Get it Done!!! Keep Pushing keep learning...
@William Mayfield funny you should comment on this thread. I literally just got back to the office. I was driving for dollars in DC all day. Got a ton of leads and talked to a lot of great people. Time to get to work!
Exactly @Andrew Michael Boss do you mentor?
@William Mayfield I am more than willing to share what I have done thus far and offer my opinion. I don't think I am in a place to mentor yet but its certainly something I may do down the line. I have tons more to learn and want to focus on my goals for the time being.
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