Lead generation is the life of any business, and by far the most crucial element to succeeding in the real estate market.
Without new leads, buying and selling properties is nearly impossible.
We’ll cover the most important aspects of generating leads for new real estate investing opportunities. Follow these simple yet effective tips and you’ll be well on your way to a successful career as a real estate investor.
Know Your Market
Before you start either rehabbing a property or marketing it to sell, you must first know the market you’re trying to reach. Think about the location of the property and the features the property offers.
– Who’s looking to purchase a home in this neighborhood?
– Are they moving here because of the great schools or because it’s close to work?
– Is it near a college?
– What’s the average income needed to purchase a property in the neighborhood?
– Are most homes being rented or purchased?
– Do I need to tailor the renovations towards being more upscale or is keeping the price down more important?
These are all factors that come into play when a potential buyer is looking for the perfect home. Consider who your property will appeal to and market your house to them.
As a real estate investor, you’ll find it important to get to know your ideal buyer as well as your ideal seller.
For a rehabber, for example, an ideal seller is someone who recently inherited a deteriorated house from a relative and doesn’t have the time, money, or desire to fix it up.
This property owner could be reached through a variety of marketing channels, including online advertisements targeting keywords like “sell old homes” and “damaged property buyers.” You could also place flyers on public bulletin boards at courthouses and other locations relevant to estate sales.
Diversify Your Marketing Channels
There are multiple channels of marketing, and you should be using as many of them as you can without spreading your resources too thin. Quality marketing through a few channels is better than haphazard efforts on all of them. Here are a few of the most popular channels for real estate investors to explore:
Copywriting – This is one of the most effective channels to use when searching for selling and buying leads. A well-written newsletter or informational piece on what your business can do for them is a powerful way to reach your target audience.
Content Marketing – From YouTube videos and podcasts to blog posts and snippets of information posted on Twitter, content marketing is by far one of the best ways to get your name out there. From social media presence to website content, this is your chance to show your experience and credibility.
Email Marketing – Once you have made contact with a buyer or seller, the best way to turn that lead into a transaction is to follow up with a well-written email. Sometimes all it takes is a timely reminder of your services to generate a sale.
Paid Advertising – Generating organic traffic through your content is great, but paid traffic also pays major dividends in the real estate market. Target local keywords to drive more traffic to your website and reach people who are actively looking to sell or buy properties in your area.
Each of these mediums can be tailored to a different audience. Figure out what works in your market and adjust your marketing strategies from there.
The best way to optimize your marketing efforts is to stay consistent.
Follow up on past leads that didn’t reach out to you and always pursue a fresh stream of leads to keep business flowing.
While most transactions occur shortly after a lead has been generated, it is not uncommon to hear of investors getting a callback from someone who received a leaflet or email months or even years ago and eventually decided to sell their property.
Effective lead generation requires a combination of consumer knowledge and quality marketing strategies. Without understanding your target audience, your marketing will fall short of addressing the right challenges and answering the right questions. Without quality marketing, your hard-won knowledge will have no leverage.
Browse the FlipNerd.com website for more helpful in lead generation strategies and helpful real estate investing advice.