Today’s REI Classroom Lesson
Chris Bruce reminds us that marketing has to be consistent and shown more than once to a prospective buyer or seller.
REI Classroom Summary
Keep in mind that their situation can change a month or 6 months down the road and if you only send one letter or ad, they’ll likely move on to the next investor who’s actively marketing to them.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the FlipNerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Chris: Hi there, everybody, Chris Bruce from Internet Landlord, LLC. And today’s topic is going to be about why not following is costing you a lot of money. First off, I want to welcome you to the REI Classroom.
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.
Chris: Now again, what we’re going to be talking about is you’re not following up and, honestly, guys, this is costing you a lot of money. Here’s the thing. If you look at most advertisements that you see across the TV shows, maybe even you see Facebook ads or Google ads, whatever, you see the ad generally, what, more than once.
So just think about it. If you’re only talking with the seller one time and give them an offer the one time, you’re losing out because their situation could change in the next 30 days. It could change in the next 60 days. Or it could change in the next 90 days, or heck, even six months. So that’s the reason why you need to be following up because things change.
Same thing with your marketing. If you’re doing any type of marketing. maybe you’re going out and you’re sending out letters, yellow letters to these homeowners, or maybe you’re sending out postcards, or even banner signs or whatever. If you’re doing marketing, it has to be consistent and it has to be shown to them more than once because maybe they have gotten your letter and you’ve got to think sometimes they might not be in a situation right now to sell, or maybe they were. But maybe while they were reading your letter, maybe one or their sons or daughters came and bumped them and said, “Hey mom, I need to some juice,” or, “I need some water. Can you get me some food or something?” And they put the letter down and they forget.
I know this sounds kind of absurd sometimes. And you’re like, “Well, why wouldn’t they just go back to the letter?” But we get distracted by so many different things in life, guys. And so that’s the reason why following up, and they see your message more than once, you’ll end up making more money because when it is time and when they do have time to talk to you or listen to your offer or call you back because they’re in a situation, you’re going to be able to get that deal.
And the thing is that when you’re not following up, what’s happening is the next investor that’s coming behind you, that is following up, they’re getting that deal. So the money that you spent on trying to get this and acquire this seller to get this deal has now gone on to another investor because you didn’t follow up. So you’re losing a lot of money. All right? So make sure you go out there and follow up with everything, your marketing, your offers and you will see that you’ll start to make a lot more money. All right? So I’ll see you guys on the next lesson.
Mike: HomeVestors, the we-buy-ugly-houses folks, is a franchised system of hundreds of real estate investors and have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
Are you a member yet of FlipNerd.com, the hottest real estate investing social community online? If not, you can join for free in less than 30 seconds and get access to hundreds of off-market deals, vendors in your market to help you in your business and you can start networking with thousands of other investors just like you. Get your free account now at FlipNerd.com
Please check out the FlipNerd family of real estate investing shows where we host four great ongoing shows at FlipNerd.com/shows or simply research for FlipNerd in the iTunes store.