Today’s REI Classroom Lesson
When it comes to Facebook marketing, Lex Levinrad explains that there are a lot of customizations you can make to have a targeted audience for your ads.
REI Classroom Summary
Not only can you customize the audience demographics, but you can also target your ads for people who have visited your site. Listen in as Lex explains in more detail!
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.
Lex:Hi everyone, Lex Levinrad over here with another REI Classroom show for you, and this one is about Facebook marketing for real estate.
Mike:This show is sponsored by passiverental.com.
Lex:This is a really hot topic. A lot of people ask me questions about this. It’s actually really easy to understand once you just dig around a little bit and learn how the system works. Inside Facebook you’ve got something called custom audiences. What custom audiences are where you can actually advertise not to the general public that’s on Facebook but to specific audiences on Facebook.
There are a couple of ways that you can do that. One way you can do it is you can have a tracking code on your website that keeps track of visitors on your website. Facebook can actually give you this code. You can then take that and Facebook can figure out who on Facebook has visited your website and only show the ad to those people. That’s one kind.
The other kind is you can use a remarketing tab if you have any kind of list. Let’s say you’re a realtor or a wholesaler. You have a list where you maybe send out emails once a week to your buyers on deals. You can take that list and put those email addresses into a spreadsheet or a CSV format. You can upload it to Facebook, and then you can show ads only to those people on Facebook.
It’s very powerful, because let’s say you’ve got a house for sale whether you’re a realtor or a wholesaler. You can make information on the house. You can make an ad, and then you could have that ad only display to people who’ve already visited your site or only display to people who are already in your database.
This is where it starts getting even more interesting, because inside custom audiences Facebook also has the ability to target certain individuals. Also, you can target by demographics, location, etc. For example, for real estate one of the areas that they have is they have a list that’s provided by zillow.com which users who are using Zillow can check off on a form indicating how soon they’re looking to move. You can actually target to people who are looking to move in the next three to six months based on what they checked off on Zillow.
In addition to that, you could target specific locations. Let’s say you had a house for sale and there was a listing in a certain area. You could create a custom Facebook ad with multiple pictures on just that one property. Then, you could have that property only show to people who lived within a radius of, let’s say, 10 miles of that property and who had checked off that they’re looking to move in the next 6 months.
There’s gazillions of different types of lists. There are lists of renters. There are lists of buyers, different demographics. I mean, you could say you only want to market 25 to 35-year-olds if you’re going after the first time homebuyer demographic.
You could market your listing to mortgage brokers if you’re looking to drive up targeted leads for first time buyers. A lot of times mortgage brokers have these people who get pre-approved but they don’t have a property. The irony is many times realtors have a listing for sale but they don’t have a buyer. So, what you’ve got to try and do is put the mortgage broker together with the realtor, and one of the great ways to do that is through Facebook marketing. Therefore, the realtor can have a slew of mortgage brokers with pre-approved buyers and those mortgage brokers can have realtors that have listings that they can have their buyers work on. At the end of the day, the realtor will make more money, the mortgage broker will make more money, and the buyer will be happy.
Really, today’s marketing on Facebook specifically, also other media like Google as well but Facebook specifically, has got a very good targeted approach to pinpoint whether you’re looking for sellers, whether you’re looking for buyers, whether you’re a realtor, whether you’re a wholesaler, there are a lot of custom ads you can create. I highly encourage you to go out there and read a book on the topic or watch some videos on the topic and learn it and then go on to Facebook. There is a learning curve. Expect to spend a few hours figuring it out. Once you do, you start running ads, you’ll see results. Once again, this is Lex Levinrad, and I hope you enjoyed that REI Classroom.
Mike:Passiverental.com is your source for turnkey, done for you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.
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.
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