Any type of real estate marketing is expensive, when it doesn’t produce results. Many of the frustrations for real estate professionals revolve around how leads from their marketing efforts are poor and that they aren’t closing any sales from any of their lead generation activities. Unfortunately this usually results in ditching marketing all together and hoping a new customer will “appear”.Instead of just hope, you might consider starting with an online marketing strategy that will generate low cost leads. When you start your online real estate marketing efforts there are a myriad of choices available to you. Just a fraction of choices would include paid advertising on Google, Yahoo, MSN, Facebook, etc. In the field of paid online advertising each system works differently and allows quite a bit of flexibility for the advertiser. With this flexibility though comes the opportunity to waste your money quite easily and be stuck in that same viscous cycle.
Consider the following methods when starting your online advertising:
Set a Budget – Too often real estate professionals jump into their online marketing efforts with no idea of how much they want to spend. Getting started online means understanding there will be a time needed to uncover how it all works and setting a budget that will allow you to succeed. A good rule of thumb to start with is don’t spend any more than 7% of what your average commission would be on your advertising. When you consider that if you spent just 7% to get a 1 transaction you would be in good shape, especially when you could repeat that month after month!
Set a Goal – Sounds crazy, but I invite you to consider that your online real estate marketing efforts can have results from your very first month. Holding your money accountable and setting a goal for a specific number of transactions that you would like to achieve will help you to keep your money accountable and provide you with some focus at the same time.
Focus on Leads – Creating ads online (and even your SEO efforts) should all be focused on generating leads. When you have people requesting information from you, either via phone or e-mail, each day it gives you the opportunity to convert those leads into fresh appointments. Don’t think that you need to “brand” yourself or “get the word out”, rather consider focusing on providing value to your online visitors and compel them to contact you for help.
Be Specific – Too often real estate professionals (and many business owners for that matter) take very little time in their ad creation and where they will direct their ads. Take time to consider what people are searching on and direct them to pages within your website that will quickly give them the information they are looking for. This will keep your costs low and keep the leads flowing.
Real estate is an extremely competitive field and is getting even more competitive online. Keeping your costs low for your online marketing efforts will keep leads coming in, new appointments each week, and a steady flow of closings going each and every month.
Who does not want to have his niche in the real estate and market and own lucrative real estate properties? Moreover, at this time, when the stock exchange is not showing the desirable improvements, the real estate market is one of the most potential domains for investment.Most of us believe that family homes for nuclear families are one of the most important form of real estate investments. Though, at the same time, it’s not mandatory that you should have your own home in case you need to invest in the real estate market. Thus, most of the investors follow the same trend of investing, which they once had adopted for getting the right house for themselves. No doubt, such concept, when applied, turns to be familiar and the curve of learning the entire phenomenon of investment is also very comprehensive and concrete.At the same time, this concept is also bustling with several drawbacks. The first reason the cut throat competition existing in the real estate investments. At the same time, the long time investors and property dealers, artificially create the inflation in the prices of the real estate properties due to which the first time buyers gets very discouraged.Thus, it’s very important to know how to beat the competition in the existing real estate market and make successful investments in these properties. Commercial real estate is one of the most applicable and comprehensive approaches to go for.But then, why commercial real estate? In the entire concept of the local real estate dealings, the commercial real estate marketing tends to be one of the solid investments, in good and disappointing times. The apartment buildings which are multi-unit in structure are the most important features for the commercial real estate properties.If you follow this concept, you not only tend to become the land owner but at the same time, you do not have to do all the work by yourself. The rent income is enough to recover the expenses of your area.If the apartments have more than five units, they are considered to be the most pivotal aspects of the real estate markets. Thus, either you can opt for bigger buildings or go for apartments which have multiple small units. You will definitely have more cash flow and your income to expenditure ratio will be properly maintained.At the same time, investment in the homes for nuclear families also assures profitable cash income. In case, the house is rented, even then, the income made out of it is substantial.On the other hand, the advantage of the commercial real estate is that the appreciation value of the buildings is directly based on the rent income rather than the comparative value appreciation of the other different apartments and buildings.It depends on you that whether you want to go commercial real estate markets or for the smaller homes for the nuclear families. Whatever, the case might be, you must be ready to face the initial loss in the dealings, which will later add to your expertise in terms of real estate dealings.To Your Success!
In real estate there are many different ways to generate business. Many start with the aspect of “branding” themselves, some start with their sphere of influence, and others start down the road of direct response marketing. There are many different ways to build a marketing foundation for your real estate business and your solution should fit your needs and your personality.Before you spend any money on real estate marketing, it is important to consider the following:There is no SILVER bullet
No matter what type of solution you decide to use for your real estate business there isn’t going to be a silver bullet or a magic pill that will give you as much business as you could imagine without any work or money. A good marketing solution will require that you invest your time and money into making it work for your business.
There are a few important factors to consider before starting any real estate marketing program.
What type of business do you want? – Don’t just say “I will work with anyone” as that will result in marketing that has no direction and will be too expensive. The most obvious first decision to make is whether you want to work with buyers or sellers. With just a simple focus on working with buyers or sellers you will be able to determine what marketing will help you to best reach your target audience. Buyers and sellers have different needs and your marketing needs to fill those needs for you to have success.
What type of marketing do you really want to do? – With online advertising growing at such rapid rates it is certainly one of the most popular and effective mediums to go with to get new customers, but is it a fit for you? There are many real estate professionals across the country that are having huge success with magazine ads, flyer inserts, and postcards so if that is something you want to do then choose a marketing solution that offers those templates as well.
How are your phone skills? – Be honest with yourself on this one as this can make the difference between massive success and wondering why “the leads are bad”. With new marketing comes a new source of leads so take time to consider if you are prepared to handle leads from that new source. Whether you are getting calls from your website, magazine ads, postcards, sign calls, or another medium there are different questions you can ask prospects to qualify them and see if they are a match for your services. A complete marketing solution should also help you with scripts and objection handling techniques.
There are many different real estate marketing solutions out there and one of the best ways to see which one is right for you is to pick up the phone and call the people who have created it. When they take the time to answer your questions you can see how it would work for you and they might even give you some new ideas you hadn’t thought of yet that you can apply to your business.