Real estate investing has become a popular field of business over recent years. People decide to invest in real estate for the reason that this sphere seems to be very profitable. The key to success in the real estate business is to find a residential or commercial rental property that is worth investing in. It is vital to have a marketing strategy that increases your chances of successful deals. In this article, we will describe some of the best real estate marketing plans that will help you to make more real estate transactions and enlarge your income.
Bandit signs are a perfect marketing strategy that belongs to traditional methods. Bandit signs are small billboards with the announcement about your intention to buy the investment property, including your contact details. These poster-sized advertisements are usually placed in street corners and other public places where they can be noticed by a great number of people. The announcements on these posters should be short and catchy.
These tactics are quite primitive but they do not require a large amount of finance. Bandit signs can be noticed by many potential real estate sellers. Also, bandit signs as a marketing strategy do not require a lot of effort. After placing the announcement the dealer of the house or apartment just waits for the responses of the potential customers. If you want to make the most of this real property marketing strategy, you should find the most suitable locations where the target audience will notice your posters with the investment property.
Before starting this real estate marketing campaign, check the local regulations about the installation of bandit signs. This can be illegal in some areas.
Business cards are also one of the traditional marketing approaches. You never know when you will find your next deal in real estate, that is why every method is worth considering.
You need to create attractive business cards with your contacts and the clear information that you are buying the properties. Then hand these business cards to the visitors of the networking events, realtors and real estate agents, and leave at places where your target audience can find them.
“Bird dog” is the term from real estate that refers to the person who is looking for the motivated sellers or the properties which value is lower than the prices in the market of real estate. The “bird dog” term refers to the hunting dog that brings the prey, a bird, to the hunter. Bird dogs work for a fee from the investors.
These people usually have good knowledge of the market, they have the information about the properties for sale or for rent in the neighborhood and apply different methods to find the property that suits the buyer’s requirements. Bird dogs play an important role in the real property market by providing information about the prices and enlarging the number of deals.
Working with bird dogs can be a great strategy for real estate investors. Bird dogs act as the intelligence for real property buyers. The investors may collaborate with bird dogs and even create the network to expand the search area. Bird dogs are working according to a similar principle. They typically create a network of real property investors to increase the chances to make more deals. This term is applicable to the properties for flipping but it can be also used for residential rental properties or income properties.
There are several techniques that are typically used by bird dogs. For instance, it can be a sign offering to sell a house or a couple of letters with the proposal to buy the property right now for cash. Bird dogging approach has gained popularity over the last twenty years along with the increase of flipping houses trend and the growth in search of the real estate for rent.
This method requires using pay-per-click Google advertisements and placing the ads on popular social media platforms like Facebook, Instagram, Twitter, and LinkedIn. This marketing strategy is the best way to increase the visibility of your business and to enhance its presence on the Internet. Online ads are effective due to the fact that they are displayed to your target audience. The drawback of this marketing approach is the prices of the ads that are quite high. The price of the click depends on the quality of the advertisement and the requirements for certain keywords.
Direct Mail Marketing
Direct mail marketing belongs to traditional approaches and may seem to be an outdated method. This strategy requires writing the messages to the homeowners expressing the wish to buy their property.
To apply this approach, you need to make the research of the homeowners in your local area, then create a list of them. Start with sending the postcards to check the effectiveness of this method. Do not be disappointed if this approach does not work from the first try. Most of the potential sellers of the houses may not respond to a first or second letter. Be persistent and your efforts will soon pay off.
You will achieve success in real estate investing only if you will apply the marketing strategies in the complex. The skilled real estate investors know that the next deal will come from anywhere.
Try the listed above marketing approaches, test their effectiveness and measure the received results. Then spend most part of your costs on the strategies that have proved effective. Note that the success of the marketing strategy depends on the target market and other conditions.