With the housing market booming across the country, countless new investors are entering the real estate market. Everywhere you go, real estate marketing is a topic of conversation. With so much new competition, real estate investors have to find ways to stay ahead. In this post, we'll go over 5 areas of your business where you have the opportunity to stand out from the crowd.
Most new real estate investors fail because they give up too soon. Often, they've attended a free seminar filled with get-rich-quick schemes. While real estate investing can provide great financial wealth, it is not a get-rich-quick business.
Building a trustworthy brand is a process that takes consistency. Customers don't want to work with a fly-by-night business that is here today and gone tomorrow. This is especially true when you're in the business of buying and selling homes. [Click to tweet ]
The best way to build trust with potential clients is to consistently keep your marketing in their purview, and there are several ways to do this. While many investors choose direct mail marketing, others might focus on generating online leads. The best investors maintain a healthy balance of both.
The power of social media
The power of social media cannot be denied. Social media marketing has fundamentally changed the way companies advertise. With U.S.-based users spending close to 50 minutes per day on Facebook, social media platforms empower companies to interact directly with the consumer like never before.
As an investor, this represents a fantastic opportunity. Real estate has always been—and will always be—a business that revolves around relationships. Creating a business page on Facebook can be a powerful tool to strengthen those relationships. Consistently offering valuable content will build your community of followers and increase your credibility.
Users are more likely to interact with your post via shares and likes when your content brings value to their lives. Tyler at Better House Buyers reports, "Posting content such as recent rehabs, video testimonials or simple blogs that address every-day real estate issues always increases organic interaction."
Mail the list that others don't have
Direct mail is the most commonly suggested method for new investors. Every day, thousands of new investors are advised to direct mail the same old list of absentee addresses. As a result, the response rate for this list has decreased tremendously.
Many new investors complain that direct mail doesn't work. Direct mail still works; the key is to reach property owners everyone else isn't reaching. Of course, this prompts the question, "How do I get this list?"
The answer is simple. You create it.
Focus on building your own list. This list should include houses you discover by doing activities like "driving for dollars" and researching probate and tax-delinquent properties. The beauty of your own list is that all the information is free (although gathering properties for the list will take more time). Keep in mind that the harder the list is to obtain, the less competition you will have.
Blog your experience
Writing a blog can do wonders for your brand. An easy way to create great content your users will love is to blog your journey to success. Everyone loves a success story. Be sure to blog about both your successes and your failures. Then, share your stories via social media and email.
Keeping a detailed blog of your journey will grow your brand, as potential clients get to know you and engage with you directly by commenting and responding to your posts. As you achieve success in real estate, you can even turn your best blog posts into an eBook.
Boost your credibility with testimonials
How often do you check vendor or product reviews before you decide to hire someone or purchase a product? Most likely, the answer is "all the time." The same is true when clients are deciding whether or not to work with an investor.
People like to see confirmation that someone else has worked with you and was happy with the services you provided. Having reviews on your website or social media builds instant credibility. A testimonial can be written, visual, or even a simple 30-second video of a seller discussing their experience working with you.
How to ask for testimonials
The best time to ask for testimonials is when the customer is the happiest. In real estate, determining this time is pretty easy. At closing, when the customer receives their check, they're naturally feeling excited and accomplished. I would suggest using this time to ask the client to give you their honest opinion of the services you provided.
Typically, we incentivize our clients to provide testimonials via video recording, Google and Facebook by offering a $50 gift card for providing their honest feedback. Never pay for positive reviews; simply ask for an honest review. People don't trust brands with all positive reviews. The honest feedback will help you grow your business and credibility.
With real estate investing becoming more competitive in most major markets, it's important to take steps now to stand out in this crowded field. Most importantly, stay consistent with your marketing. Consistency will build authority as you establish your brand. Be sure to document your success via blogs and testimonials, then share them with your customers in a variety of ways. By following these strategies, you'll brand yourself as a successful real estate professional who clients will be excited to work with.