I talk to a lot of folks about marketing their real estate business every week, and on just about every forum you visit, marketing is always a hot topic. Most real estate investors intellectually understand that you have to do marketing to get those leads in the door.
What so many people don’t understand is that there is no “magic pill” for accomplishing this. You can’t send out 15,000 or 20,000 direct mail pieces one month or put out 200 bandit signs one weekend and think you will become an overnight success. It just doesn’t work that way. While there is no magic pill, I believe that there is a magic formula that will build your business and lead to success.
What is the Real Estate Marketing “Magic Formula”?
The magic formula can be summed up in one word. Consistency. It takes consistency to be successful at marketing your real estate business. What exactly does that mean? It means that you have to do the same things on a regular basis month after month to build your business. And, you have to do this every month for as long as you are in business. To be successful, you need also a plan; specifically a marketing plan.
Putting together a simple but effective marketing plan
Now a lot of real estate investors get worked up when they hear they need a marketing plan, but a marketing plan doesn’t have to be difficult. It does however have to be a real “plan”.
What exactly is it that you intend to do?
Write it down on paper. List all of the strategies that you want to use. Once you have figured this part out, transfer that plan to a calendar. Then decide how you can get it all done and commit to doing it. It is that simple act of “committing” or carrying out your plan that will make the difference in your success over time.
Your Plan of Action
-If you are doing direct mail campaigns, and I believe that this should be part of everyone’s marketing plan, it is essential that you mail to these folks on a regular basis. You should mail monthly or at least every other month for effective direct mail campaigns. A plan to follow up with these folks is also essential.
-If you are putting up bandit signs, decide on a schedule for putting out your signs and do them regularly.
-If you are driving for dollars, pick one or two areas and drive them regularly. In nice weather you could even hand out a few business cards to folks doing lawn work. Let them know you pay for leads.
-Give everyone you meet your business card. Make sure it has your web site listed on it.
-If you put up a website, consider doing a WordPress site where you can also provide timely articles for you potential clients. These sites are easy to update. Often folks will take months to finally decide to sell an unwanted property. Probates and absentee owners are perfect examples of this. If you can drive them to your website where you provide good content that pertains to them, they will
remember you when they finally get motivated to sell.
-If you decide to network with folks in certain groups or business organizations, it is imperative that you show up on a regular basis.
I have a friend that is a home inspector that is very good at marketing. He has one large franchised real estate office that gives him a lot of business, and he markets to them on regular basis. What does he do? Among other things, every Monday morning he takes them a crate ‘bananas” for a healthy snack and they love it! He says it costs him about $7.00 or $8.00 each week. Invariably after he has made his “banana run”, he gets at least one inspection that nets him hundreds of dollars. They look for the “banana guy” every Monday and you can be sure that they remember him when they need a home inspection.
Find a way to stand out from the crowd; a way to be memorable. Decide on a plan that you will be able to execute on a regular basis and then as Nike says, “Just do it”!