Great Marketing to Find REAL ESTATE Deals Today
Summary- Successful real estate investors are excellent marketers. When developing a real estate business, you must be able to locate properties in which you can turn a profit. Today’s turbulent economic climate fosters an excellent opportunity to profit within the real estate market through carefully selected buys. Investors don’t typically fail due to lack of skill or knowledge of the business, they fail due to insufficient marketing both for properties to buy, and for buyers. Some of the top ways to generate potential property leads include:
• Craigslist-While you have likely heard of this site a million times, you may not be aware that it is an excellent property lead generator. Skim the available listings within your target area (the geographic area you have chosen to work within) for available properties to follow up on. Follow up the same day, as properties often move quickly, to see if the deal is something that fits within your investment criteria.
• Sunday Newspaper-In addition to the electronic version of a classified ad, some sellers will still leverage the Sunday newspaper for listing their property. For less than $2, you can gather a list of potential property leads within a chosen area to follow up with. Real Estate Marketing
• Real Estate Agents-Form relationships with several experienced real estate agents within your chosen target market. Ask that these agents send you a daily deal list of properties that meet your criteria (price, location, condition, etc.).
• Drive for Dollars-Sometimes, the simplest marketing strategy is the best one! Set aside time in your daily schedule to drive through your target neighbourhoods in search of “For Sale by Owner” signs. Due to the perceived softening of the real estate market, many homeowners are attempting to sell their properties on their own to save the 3-6% in real estate agent fees. These properties are an excellent opportunity for you to strike a profitable deal. Be sure to note the location of each property you are interested in on a map, the address and the contact information so that you can follow up with each lead when you return to the office.
• Establish a Referral Network-In addition to the techniques outlined above, an age old marketing strategy that works wonders for the real estate industry is to establish ‘bird dog’ type relationships. A bird dog is someone that brings you deals; consider it a targeted referral network. Carefully describe to these professionals the types of property leads you are seeking and consider offering an incentive program either per lead produced, or per deal closed to ensure that you are receiving a consistent lead flow. One of the best things about establishing a referral network is these individuals will often bring you deals that you wouldn’t have found using any other marketing method.