Before jumping into this week’s post on another way to dominate your local real estate market, I would first like to say thanks to the BiggerPockets Members for being so engaging in the comments section.
People continue to leave comments, sharing their views on my posts and revealing their opinions about real estate marketing. I’ve had a chance to talk to a lot of people behind the curtains on their real estate businesses and how they’re performing in their local markets.
I must say that there are a lot of great minds here on BP, especially when it comes to knowledge of investing. Tons of people are well-seasoned individuals who just come here to learn a little more or to give a helping hand to the newbies. Overall, I just wanted to say thanks a lot to everyone for all of the kind words about my informational blog posts. The responses from friend requests to casual emails about real estate marketing strategies over the past few months have been tremendously fun.
Related: The 16 Elements of a Highly Effective Real Estate Website
I’m just wondering what’s going to happen when I get into the meat of how to really take your real estate business to an all new level. All that I’ve been doing this past month is getting your workshop set up to receive tons of leads. I started this journey about a month ago when I broke out of the gate with my ultimate guide to real estate marketing.
I followed that up with a simple, but powerful post on how a homeless guy found 8,300 buyers and sellers all in 10 minutes, followed by an article on how to find the local real estate competition. Those were pieces of content that needed to be talked about before moving on to what’s maybe the #1 reason most people will lose out on millions in the years to come.
Hear Me Out
The world around us is changing minute by minute, and those who can adjust to that change are the ones achieving success.
Not to say that the old ways of doing things in real estate are not working, but those who take advantage of what we have — meaning technology — are surpassing the local competition. I can’t tell you how much I’ve seen the birth of the internet change the way that we invest in real estate.
Back in the day, you would simply get a motivated realtor to help bring you properties. They would go out and work the MLS to try to not only find you deals, but to gain those big commission checks for the month for them and the brokers.
Ten years ago, this model worked wonders due to the fact that most people weren’t using the internet as much to find real estate. It was all offline work, from advertising in the newspapers to creating what we call the word of mouth formula.
You see, all of those things still work today, so I don’t want to encourage people to abandon those great marketing strategies; this is something that I’m always preaching to investors. I’m always encouraging them to keep the streets hot with their brands using everything from newspapers to magazines to word of mouth to move their businesses along as far as possible.
Just by doing this, you set yourself up to gain more friends, leads, real estate and success. Heck, you don’t even need the internet to make an awesome living in real estate if you just want to do what I call getting by. You can hand out business cards to tons of people letting them know, “Hey, this is what I do, and if you have a property or know of someone who does, then give me a call.”
You can continue to send out those Yellow Letters and cross your fingers to get that 3 to 4 percent response rate. Good luck on that. You can keep that mailing campaign going to perhaps snag you one or two strong deals a month. It works if you stay consistent with it because the reach and numbers show that if you turn over enough rocks you will find a worm.
Side Note: For all of you out there who use the Yellow Letter formula, I would like you all to stick around for my future posts, where I plan to show you a new method that will get you at least a 8 to 12 percent response rate. I will reveal to you all what I call “Yellow Letters 2.0.” This, along with what I’m talking about today, will take your business to new heights. The other local real estate people will start to wonder where all of the properties are going.
Millions Down the Drain
The #1 real estate marketing mistake that around 98% of real estate entrepreneurs from all walks of life make is not having a website.
No, no, no and no, I’m not talking about that website that your broker gives you if you’re a realtor reading this. I’m talking about a real website that educates your potential buyers and sellers on your services.
Related: 8 Quick Tips for Naming your Website
Not that horrible website that big brand real estate companies give you that only lists properties and a phone number to call the agent or broker. They are only there to show buyers unlimited amounts of properties, which only confuses and overwhelms potential buyers more than before they hit the site.
Most of these sites look like flea markets of properties, pretty much telling the buyer to call if they see something that catches their eye. It doesn’t do anything but list thousands of properties, hoping that someone finds something they like. Crazy thing about it is that every realtor usually gets one of these websites when they join the team.
Most of them take a head shot of their …read more