As real estate investors, it’s a fantastic feeling when you have a steady pipeline of leads coming in. Leads are a critical part of your business and without them, you have no deals. A common mistake that newer investors make is that they stop marketing once they have a few deals come in. Let’s discuss why.
Most investors market to their list on a set schedule. It’s planned and there are multiple follow up sequences in place. This is done because many motivated sellers don’t necessarily take action after seeing your marketing the first time.
- They might not be ready to sell the property for emotional reasons
- They might toss the marketing piece in the trash without a thought
- They might be waiting until they absolutely have no other choice but to sell
- They might still be considering selling with a realtor
- They might not realize that you’ll buy the home in “as-is” condition
There’s a long list of reasons why they might not reach out to you after your first marketing piece.
Think about yourself and how quickly you’re able to make a big decision. Say you want a new car. Are you going to go buy a new car today if you see a commercial from a dealership?
You’re probably going to think about finances and if it’s the right choice. It might be a few months before you’re ready to buy that new car.
Now, when you’re ready… which dealership will you likely go to?
One you’ve never heard of or one that you recognize?
Without thinking about price, you’d most likely go with a dealership that you’re familiar with.
THIS is why you never want to stop marketing to a motivated seller. They may not be ready the first, second, or fifth time you’ve marketed to them, but when they’re ready, they’re much more likely to reach out to a familiar company compared to a company they’ve never heard of.
If you stop marketing, your leads are going to dry up. The beauty of a consistent pipeline is that you’ll get deals that you’ve been marketing to for months.
Think of any sort of machine. If you take out the part of the machine that powers it on, the entire machine will fail.
No matter if you get 5 deals a month or 0 deals that month, keep a consistent marketing budget that will last you a good 6 months so that you can keep marketing through your high months and low months.
If you’re turning all your attention to the deals you’re working to close, make sure somebody is still working your marketing leads.
Your investing business is a machine. Feed the machine and over time, you’ll see the acceleration.