When I connect with real estate investors, one of the first questions they ask me is about where they should be marketing their real estate investing business to find the best motivated sellers and cash buyers.
And my answer is brain-dead simple but laser-sharp effective. I always say:
Real estate investing marketing success is NOT about a basic template of specific marketing channels that are combined together in exactly the right way with exactly the right information or social posts.
It’s not a plug-n-play formula of “1 Twitter account plus 1 Facebook account plus regular postcards equals ridiculous levels of success.”
Unfortunately, real estate investors are led to believe this from the gurus and experts who make it look easy and never really fully explain how to effective market a real estate investing brand.
That’s why I’m here. 🙂
I’ll give you the simplest, fastest way to market effectively for the right motivated sellers and cash buyers.
First, stop trying to copy the the big guys exactly. It’s folly and you’ll only waste your money. No two real estate investors are exactly alike. Each one serves a different market and a different motivated seller and a different cash buyer.
Let’s say you’re an investor in Cleveland Ohio who buys properties from probate sellers and who then creates turnkey investment opportunities. You’ll STILL serve a somewhat different market than another investor who invests in Cleveland and buys from probate sellers and sells turnkey. Your differing personalities and levels of expertise and network and skills will combine to create slightly different brands… and therefore you might connect with sellers and buyers in a different way.
Second, figure out EXACTLY who you are and what you do and who you are connecting with. Sit down with a pen and paper (old school!!!) and list out what markets you work in and what your sellers and buyers are like.
Third, figure out what value you provide sellers and buyers… don’t miss this step because it’s essential to creating ANY communication that will compel your seller or buyer to act.
Fourth, identify exactly where your sellers and buyers are paying attention. Twitter? Facebook? LinkedIn? Magazines? Television? Radio? Newspapers?
Yeah, I listed television and radio and some of you are reading this and thinking “are you crazy? That’s so expensive!!!” and then you’ll go out and spend a ton of money on cheap marketing that reaches a wide audience ineffectively and delivers zero return on your investment.
Unfortunately, too many real estate investors value a marketing channel by whether they think it’s affordable or not… instead of whether it delivers the intended results.
There are no bad marketing channels… even seemingly expensive marketing channels can be good… it all depends on what your target audience is paying attention to.
If you are mailing out a ton of direct mailing and getting crappy results then your current direct mail strategy is not a good choice for your intended audience… even if the big real estate investors are killing it with this strategy. (You should test some slightly different language in your copy and see if that solves the problem, and then test a different strategy altogether).
Twitter might be great for you if your audience is there and paying attention and seeking answers. But if they’re not then it’s not for you.
Heck, if your target market is ignoring all marketing because they are too busy at their kids’ softball games then that’s great news: Go sponsor the team, rent a hot dog cart and give out free hot dogs and meet with parents as they load up their dogs with mustard, hand out your business card, give out labelled bottled water, give prizes, whatever.
You see my point? The way you market doesn’t really matter actually. Only the results. And if you want results in your marketing effort then you have to figure out the best way to communicate to YOUR motivated sellers and cash buyers.
The bottom line: Just figure out where your motivated sellers and cash buyers are, and market to each of them there.