Regardless of whether you’re after short sales investing or ugly houses, making profits in real estate investing begins with having leads. Unless you’re just simply posting bandit signs in addition to waiting for the phone to the wedding ring, you should have implemented some type of testing process to get the best possible qualified prospects landing on your desk (or calling on the phone).
The higher you do at setting up your current screening, the more time you’ll have, the particular fewer garbage calls likely to the field (which can be agonizing whether you’re doing it, or perhaps paying the bill to have that done), and the more likely to only be working with potential bargains – the dream of just about all real estate investors.
THE RULE: Just about all leads are not equal, all things phone calls are not leads.
An excellent marketing campaign is not one that produces a ton of phone calls. That’s in fact just a ton of performance. Work is different than enterprise. You’ll find in your real estate investing that will some marketing campaigns, like the yellowish letter (yellow letters are usually explained below), will create huge response rates, but in addition to huge numbers of unqualified telephone calls.
But, marketing in the REITs world isn’t only about reply rates. We have a unique product or service which only appeals to a small % of sellers. We may want to talk to EVERY vendor, just the right ones. The good news is that it is possible to tweak the message great for response pieces like the yellowish letter to provide exactly what we really wish for…
OUR GOAL: To get as many non-deals to filter THEM SELVES out before we ever before need to talk to them. Very good marketing will allow people who may qualify to do the initial testing for you.
QUICK SIDENOTE TO BE ABLE TO NEWBIE INVESTORS: Don’t be worried to lose leads… they solely lead if they are willing IN ADDITION TO able to do business with us. In the event, however, you want to take just about every last call to work with your skills talking to sellers… no trouble… that’s perfectly OK… just simply plan on fixing your selection when you’re ready to focus on deals.
For anyone who is marketing to a demographic set (a bunch of people expressing some characteristic, like acquiring expired listings or being aware of default on their mortgages), you are starting the selection process by choosing what type of suppliers (this works for consumers too) you want to market to help.
From there, your marketing concept (which can include the “piece” you sending, like a postcard, or the message you use for a recorded message or on your own squeeze pages*) needs to incorporate language to both furthermore the prospect along if they meet the requirements and to allow the non-deals for you to disqualify and eliminate by themselves.
(* Squeeze Pages are generally single-page websites created to screen, and collect leads, along with sending them to you. These kinds are a cornerstone of real estate courses marketing – check out the useful resource box below for backlinks to my Internet Marketing solutions. )
Now, let’s hop into two real-life cases from my business, typically the post-it note and the discolored letter.
The “UGLY” Sticky Note
One of the things people recognize me for has been the prolific use of post-it information. I didn’t invent the concept, but in the real estate investing globe I’ve distributed more sticky notes than anybody, as well as I, I’ve tested the daylights out of them.
The original sticky I used had an effective, but the generic message. This got us TONS of telephone calls, and cost a great for the call handling. Luckily, the margins in real estate investment are high enough that it worked well despite the “breakage” (a phrase for waste, in this case with unqualified sellers calling).
There have been deals for sure, but also lots of sellers just looking to conserve a few bucks on Realtor commission rates, or who had thought among the been specifically chosen, probably because their house was and so awesome and valuable (aren’t they all? ).
I was exclusively looking for houses in need of a job to either rehab or maybe flip to wholesale potential buyers. So I needed deep savings and poorly maintained properties. Other callers would be totally wasting their time and mine. Real estate courses don’t pay by the hour, and this is less than ideal.
So foggy I did. I added the below language to the post-it notices, creating what I call this “UGLY” Post-it:
P. S i9000. If you want retail value, Joo Xie is not your guy. However, if you want someone to buy your property… (a list of benefits)… subsequently we’re your guys. Email us now… Can’t get a lot more to the point. If you want retail, avoid calling us.
Why waste time? Why deal with the uncomfortableness of telling them you would like to pay 50 cents within the dollar or lease option their residence subject to with no money straight down?
THE RESULT: It cut our own calls in half, with no reduction in viable leads. This was massive because I was paying quite a high rate to customer service to process the prospects… I only wanted to pay money for actual leads, so this stored me a bunch, which means the Return On Investment (ROI) shot up. In case you were taking the calls yourself, you just got a big bit of your time back. Either way, a major win.
The Yellow Correspondence
The “yellow letter” can also be a top-performing marketing piece intended for real estate investing. The original yellow correspondence was created by investors Ruben & Donna MacNeil, and later it was promoted by investing community Ron LeGrand and others.
When you haven’t seen it, typically the yellow letter is a written by hand (or handwritten-looking) letter about a yellow legal pad report. It says something like “My wife Erin and I wish to buy your house. Please call us at 555-1212. ” If you haven’t seen it before, typically the yellow letter looks true enough to be creepy. Plus it does get a lot of cell phone calls… like:
* Upset those with bad tempers and horrible mouths * Police asking behalf of little outdated ladies * A hit-or-miss lead or two… and 4. Lots of people telling you that their property is NOT for sale
So, tips on how to fix it? Easy… I just extra the following to the end of the letter (before the personal unsecured and PS): If you don’t react then I’ll assume your home is not for sale.
THE RESULT: Once again, a HUGE drop-off in phone calls, but not in leads. The actual yellow letter remains a highly regarded marketing tool for us, but now all of us don’t need to field the 70 percent of the calls who wished to tell us that their house isn’t very for sale.
If you want better effectiveness with your time and you want to concentrate more on business than occupied work, then start including language in your marketing items to pre-screen the retailers who you are not going to be able to (or don’t want to) use.
More Tips for Optimizing Your own Marketing Strategy for Real Estate Investing.
Read also: https://twothirds.org/category/real-estate/