The Future of Real Estate Wholesaling Marketing

What’s the future of wholesaling marketing for real estate investors?

Mastering what is working right now is great. However, as clearly seen from recent corporate battles between Apple and Google and real estate companies throughout history it is those that embrace future trends and stay on the forefront of change that consistently race ahead and stay on top.

Right now many investors are finding great success in simple wholesaling marketing strategies like direct mail, bandit signs, in person networking and of course online content marketing and PPC advertising through Google Adwords.

While many of those reading this might instantly be cringing, expecting this article to be yet another of the same old “you have to use social and mobile” pieces, that isn’t necessarily the only future of wholesaling marketing.

All marketing, just like the economy and housing market is cyclical. Print has gone out and come back, so has direct mail and email marketing. They were all very popular and successful in the early 2000s, then died off, and have been revived. So there will certainly be room for some of the more traditional advertising methods to rebound in the future, even if they take on a slightly more digital format.

Obviously technology can’t be ignored either though. We are all increasingly being wired in, even if we don’t want to be. Offline wholesaling marketing may continue to produce real estate leads and deals for flipping houses for quite some time, but at some point investors will have to adapt. You can put it off and give the lead to your competition or begin strategizing now to get the edge and enjoy dominating the market and more lead flow.

Mobile is an obvious trend. Apps, bulk SMS, mobile responsive sites and social are great ways to capitalize on the mobile movement. However, looking ahead this will also certainly mean responsive digital outdoor advertising, social notifications in car, on smartphones and via Google Glass, based on all types of activities and location based, even without prospects requesting it.

Social can’t be ignored. Some may not have figured out how to use it effectively yet, but that doesn’t mean it isn’t incredibly valuable or powerful and high ROI if done right. In fact social is really just figuring itself out. Once commercialized properly and wholesalers are able to infiltrate feeds by offering timed messages and truly valuable info it can be monetized. In the meantime the focus should be on building a tight tribe of customers and really being authentic.

Tactical Vs Strategic Thinking in Real Estate Marketing – The Critical Difference

To illustrate the differences between working from a tactical perspective and a strategic one, I’d like you to envision the following: Think about a set of Lego blocks. When you purchase a Lego set, you open the box to find hundreds of various-sized blocks and miscellaneous pieces that can be shaped into just about anything your imagination will allow. But also inside that box is a booklet with step-by-step directions on how to build whatever you see depicted on the front of the box, whether it’s a red Ferrari F430 or an entire town.

The option of which path you choose is entirely up to you. In both cases, you’re playing with Legos. But only one of those approaches comes ready-made to be approached from a strategic perspective – the one in which you follow the directions and build what’s on the box.

Defining the Difference

By definition, a strategy is a plan of action for attaining a goal. Tactics, on the other hand, are the individual methods or activities by which you carry out your plan. Strategy is the big picture. Tactics are the minutia. So when it comes to your real estate business, you must first establish your strategy or big-picture goal setting before you can determine the tactics you’ll use to achieve your goals. The key is to always make your tactics serve your strategy. In other words, make sure every action you take is part of a larger plan. Individual tactics should never be performed without fitting into a grander scheme.

Here’s another analogy to help you better understand the difference between the two. Working from a tactical perspective is like standing at the heart of downtown. Everywhere you look, your view is obscured by giant skyscrapers, limiting your ability to see very far in any direction. Working from a strategic perspective is like getting in a helicopter and flying over the tops of those buildings with clear skies as far as the eye can see. It’s a big-picture view without any limitations. The higher elevation you rise to, the more strategic and less tactical your perspective becomes.

Real Estate Tactics

Examples of tactics used by real estate agents are making cold calls, holding open houses, asking for referrals, sitting floor time, using sales scripts – the list could go on and on. Unto themselves, these activities might generate some business, or they might only waste your time. But once you begin to view them from a strategic perspective and with a clear intent in mind, you can modify your individual tactics to serve your overall real estate marketing strategy.

My concern is that I feel like lately I’m seeing way too many agents working from a tactical perspective rather than a strategic one. Most of the real estate training out there focuses solely on tactics, so it’s no wonder that many agents end up focusing all their energy on tactics rather than the more important, big-picture strategy. My goal with this article is to get you thinking strategically, and in turn, make your efforts more productive and fruitful.

What Are You Trying to Accomplish?

On a daily basis, you can ask yourself “What should I do today to make money?” It’s a good question but there’s no good answer, because it all depends on what you’re trying to accomplish. If your strategy is to survive another day in the business, virtually any tactic will suffice. If your strategy is to look busy, you can do paperwork all day and consider yourself successful. That’s why the first step to approaching your career strategically is to define what success means to you.

When defining your vision of success, get specific:

“Success is working 35-40 hours a week, having my systems in place in order to generate business in excess of $200,000 in gross commissions annually. I will take four entire weeks off at various points throughout the year and never work more than six days a week. I will take one three-day weekend every month and will not call the office or check my messages when I’m not working. I will get a new car every 24 months and devote at least 15 working days per year to attending seminars and the overall betterment of my business.”

The Strategic Open House

Once you have established your definition of success, it’s much easier to define the tactics you need to get there. But the strategic vs. tactical debate extends further into areas that you might never even think of. Open houses, for example. For most agents, open houses are necessary evils. The homeowner demands that you hold an open house, so you agree and end up sitting on a bar stool for four hours reading the paper while a few neighbors and lookyloos stop by. This typical scenario is holding an open house from a tactical perspective.

When you approach it from a strategic perspective, everything changes. If you decide to conduct an open house, you may as well make the most of it and make it part of a larger strategy. For instance, you can use an open house as part of a strategy to build name recognition, establish yourself as a local expert and make a positive impression on the homeowners surrounding your listing. Once you have a strategy, then your tactics follow course. You mail a series of invitations to the neighbors up and down the street where your listing is located, making an “event” of the open house. You ensure your signs are visible throughout the neighborhood on the day of the open house. You have your brochure and other valuable information assembled in packets to give to the people who attend. You also create a follow-up plan to ensure you add these people to your direct mail farm and are able to keep in touch with them after your initial, positive meeting.

Or maybe your strategy is to use an open house to get a price reduction on the home. What tactics would you employ to achieve that objective? Here’s one: when a prospective buyer walks in the door, hand him or her a flier about the house as well as an anonymous questionnaire. If you ask them to complete the questionnaire as they tour the house, it will focus their attention and provide you with valuable information. The most important question you can ask is “At what price would you be likely to buy this house today?” The likely response you’ll get is that the price needs to be lower before they would consider buying the house. Even five or six responses that are lower than your current asking price can be used as ammunition to initiate a price reduction that is so essential in today’s market.

Open Yourself to New Possibilities

When you begin to look at your career strategically rather than tactically, you avail yourself to all sorts of new possibilities. You need to step outside your day-to-day tactics and really take a look at what you want to accomplish and what’s possible. Step outside your box and determine what it is you really want to do.

The key is that once you get an objective in mind, you need to determine which tactics to employ to achieve your goal. Even floor time can be approached from a strategic real estate marketing perspective. Rather than sitting in the office answering phones and hoping for that “jackpot” call, you can devise a strategy to follow-up with each person who calls you. Ask them if you can send them a copy of your personal brochure and a valuable special report you’ve created that you think might help them in the process. Suddenly you’re engaging the caller and helping solve their problems while building your brand and name recognition in the process.

It all starts by asking yourself the simple questions:

• “If I’m going to do a tactic such as floor time, how can I do it in alignment with my overall strategy?”

• “How will I follow up with each caller?”

• “Do I have a special report or something else I can offer them?”

• “What can I do to make floor time better and more productive?”

The Bottom Line

The bottom line is you’re trying to sell properties. You can approach this objective differently every day, you can try to use the “tactic of the week” approach, or you can devise a strategy that allows you to continually progress in your career. I want to encourage you to adopt a strategic view of your career and to start asking yourself how everything you do fits into your big-picture plan. You might find that your tactics do not change too radically but the results from your tactics will be vastly improved.

Exercise: Try to think of everything you did yesterday and determine whether or not your actions were in alignment with your long-term career objectives. I’d love to hear that you are on track, spending much of your time working on your business instead of in it. But I suspect that is not the case for most. At any rate, it’s a valuable exercise that can help inspire you to work more strategically in the future.

Expired Listing Letter and Real Estate Marketing Tips

The expired listing letter is a valuable asset for real estate marketing plans. Expired realty listings refer to contracts that have expired between homeowners and their agent. Realtor contracts generally last between six and twelve months. If the listed property is not sold during the contract period, sellers can enter into a new listing agreement with their current realtor, hire a new agent, list the property as for sale by owner, or take the home off the market.

Investors use the expired listing letter to solicit business from the seller by offering to buy their home or help them sell it. In order to find expired property listings, investors must subscribe to the Multiple Listing Service (MLS) database; a service that provides lists of nationwide properties for sale to realtors.

Investors who have never used expired listing letters can easily locate sample templates online. Investors will need to adapt marketing letters to suit sellers’ circumstances. A good place to learn and share expired listing marketing ideas is by participating in real estate forums or networking groups.

In addition to using expired listing letters, investors will need to develop a marketing plan and follow-up strategies. Most investors incorporate multiple marketing tools such as postcard marketing, direct mail, referral marketing, realtor flyers or brochures, and cold calling.

The expired listing letter is generally used to solicit sellers, but some investors use these letters to solicit realtors. Working directly with real estate agents can be a profitable niche for investors willing to develop close working relationships. Realtors do the majority of legwork while investors earn profit by closing the deal.

Investors who are unfamiliar with marketing strategies should consider hiring a marketing specialist and copywriter to create expired listing letters and brochures. Real estate investors often use a variety of prospecting tools.

They might start with an introduction letter, followed by a postcard and a phone call. Or they might start with a phone call and send a folder filled with a marketing letter, client testimonials, and a list of successful real estate closings. Regardless of the marketing strategy, the primary goal is to locate motivated sellers, purchase properties below market value, and earn profit on each expired listing transaction.

In today’s competitive market investors must stay on top of changing trends and create marketing campaigns that make them stand out from the crowd. Sellers often receive dozens of expired listing letters once their real estate contract expires. This is where creating unique marketing strategies can really pay off.

Private investors who dedicate their time to locating expired real estate listings often work with sellers that are frustrated their home did not sell during the listing period. The last thing these people want to hear is empty promises. They want to sell their property. Investors who focus on solving this problem can earn the seller’s business by focusing on their needs and explaining how they can help sellers accomplish their goals.

Real estate investing is a competitive industry. In order to become successful in this arena, investors must be committed to finding solutions for sellers. This can be accomplished by building a strong network of realty experts, developing a strong marketing plan, and utilizing strategies that will attract motivated buyers and quickly close real estate deals.

Real Estate Marketing Services

Several firms offer marketing services to real estate firms. It is easy for these firms to research and analyze market on behest of agencies. They tackle all the queries regarding the method of marketing, the various tactics that would grant success, amount of investment necessary and the results of the venture.

They conduct several sessions to coach individuals improve their marketing skills and also help implement the appropriate marketing techniques by exercising their expertise.

They update the real estate marketers regarding the specific data that a homebuyer looks for in a web site and reasons of failure of many real estate sites. It also gives information to the clients about optimizing the site for search engines and drive homebuyers onto the specific website. Hence, these services help convert leads into clients for the real estate agents.

Homebuyers visit the Internet site of the real estate agent for information that will help them in their purchase. These marketing services help make the conversion from the customary practice of having agent-controlled data, to having as much information online as possible.

Marketing services stress on the important role of photos in online listings, as a nice photograph is more interesting than even the most compelling description. They also insist on portraying the community of the housing society as studies have shown that most homebuyers will choose a community before they choose their home. Hence, this establishes the real estate agent as an area expert.

These marketing firms assure of highest quality service to their clients. They try to solve the several problems faced by the client. They prefer to work as partners with their clients to solve problems rather than as vendors. Reliability and trust are other features that are guidelines for these marketing firms. They ensure that all the deadlines and budget restrictions are adhered to strictly. They always proffer the cost and budget in advance to clear any misunderstandings.

Quality Real Estate Representation: Sales, Selling, Marketing, Or A Combination?

We often, discuss, what someone should seek, from the real estate agent, they hire, to serve and represent their best interests, needs, goals, and priorities. An ideal agent possesses a combination of, a true, positive, can – do, attitude, an inspiring, motivating manner, and personality, and a well – developed, relevant, skill – set, and aptitude. However, far too often, we don’t consider, other necessary skills and traits, which relate, to achieving the essential necessity, of getting the property sold, etc! With that in mind, this article will attempt to briefly, consider, examine, review, and discuss, the differences between sales, selling, and marketing, and whether, one is most important, or there is a necessary combination, needed and required.

1. Sales: Many agents state, they are, in – sales, rather than stating, they sell real estate. Why is this? Is it because, they perceive a negative connotation, about selling, or are they focusing on what they believe to be, the politically – correct approach (also known as, PC)? What about the concept of selling, do they fear, or lack the confidence/ skill, etc, which makes a difference, for the better?

2. Selling: We all sell something, regardless of occupation, or goals and priorities? We either sell, ourselves, a product or a service! Professional selling is, both, an art, and a science, requiring a willingness, and ability, to be proactive, and real estate agents, must combine this, with serving the needs, goals, and priorities, of one’s clients, while maintaining the integrity, and ethics, required, both, by the law, and the Code of Ethics! The science of selling, includes the techniques, needed, and a willingness to master, the essential necessities of handling objections, addressing needs and perceptions, and proactively, bringing together, the seller, with the best qualified, potential buyers, in order to achieve a meeting – of – the – minds!

3. Marketing: Quality representation is only accomplished, when a comprehensive, well – considered, marketing plan, is perceived, and conceived of, created, and used, to attract the right buyers, to consider his client’s property! First, it’s important to recognize the target – market, most likely to seriously consider, this specific home, and use the best combination of vehicles, to market and promote it, effectively! Then, one must determine, the best way, to expend these funds, in order to get the best, bang – for – the – buck, and achieve his clients expectations.

4. Combination: The best approach is, to use, a combination of these necessities, to provide, what most seek, which includes, selling the home, in the shortest period of time, at the best price, with a minimum of hassle!

Doesn’t it make sense, to consider, the best way, to market, and sell, a house, from the onset? Thoroughly discuss these ideas and concepts/ approaches, with the agents, you interview, before you hire, the one, who will best represent you!