Jay Sunde Felony Describe about How to Create Real Estate Marketing Plans
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Transcript of Jay Sunde Felony Describe about How to Create Real Estate Marketing Plans
Creating a real estate marketing plan is of paramount
importance for any investor seeking to begin a career in this industry. There is no ‘right’ or
‘perfect’ real estate marketing plan as marketing is
always situational, flexible, and fungible in nature.
Before giving you actual items for your real estate marketing plan, I want to give you a couple of words
of caution to think about before deciding what to implement:
Create a budget.
What will you spend every month on marketing? This budget will dictate what types of marketing
you will use.
Create a ‘time’ budget.
Marketing can take time and effort. For example, if you’re
going to place bandit signs on a weekly basis, you are committing
yourself to early Saturday mornings every weekend and late
Sunday evenings to pick up the signs again. Can you commit to
that time?
Create a Real Estate Marketing Plan | Strategies• Farming an Area- this tactic is
the simplest and least expensive way to get started. You simply
drive a series of small neighborhoods in your target area
and look for homes that show signs of distress.
These signs can be an unkempt lawn, boarded up windows, piles of
newspapers in the driveway, weeds, etc… Then get the
addresses, find the owner, and contact them to make an
offer. This method is good because you become an expert in an area
and costs very little money to do. The only drawback is that it
takes time to farm areas.
• Door Handle Signs
this is a sign that you hang on people’s doors with your message and a call to action. This is a great way for
finding buyers…going to apartment complexes and hanging on their
doors.
This is a relatively inexpensive form of marketing, but as you’re finding
out by now, the lesser the expense of real estate marketing, the greater the
time requirement.
• Post Cards
post cards are the most inexpensive way to perform direct mail. As such,
they also have the lowest conversion. Post cards allow you to display your message in a manner
that the homeowner will see without having to open an envelope.
Post cards require quite a bit of testing, not just on the post card itself, but also on the mailing list
used. However, as is the case with flyers, if you put enough out
consistently, then you will have success.
• Hand written letters
handwritten letters take time to write out and costs money for the paper,
envelope, and stamps, but this strategy also performs the best open and has the highest conversion rate.
This is because they look more unique and less like junk or spam
mail. When writing the letter, it’s best to use lined yellow paper and
blue ink. Keep the message short and simple. For this strategy to work, you
must commit to sending out letters consistently.
• Networking events
real estate networking events are great ways to meet other professionals to obtain
referrals. They’re also great ways to meet and create relationships with other real estate investors. This is
important because not every investor uses the same strategy to buy and sell
a house.
Therefore, if you meet someone who focuses on short sales and you focus
on subject-to, then you two can create a nice little referral network. Also,
these events are great places to meet other experts and learn from other,
more experienced investors.
• Social Media
social media is the electronic version of networking or referral
marketing. However, when promoting yourself on social media
sites, like Facebook, it’s important to make sure your posts are providing value rather than simply promoting
yourself.
If you want to find home sellers, then provide tips on how to sell your
house, how to stage a house, contract tips, etc… Brand yourself as an
expert. Then people looking to sell their houses will look for you.
• Video Marketing
video marketing is an excellent and underutilized strategy. It’s
inexpensive and doesn’t take much time. Plus, video is the media of
choice- more people would rather watch a video than read text. You can use video to provide tips or to give a walk through of a property you are
selling.
Then you can upload and promote through YouTube as well as other
social sites, like Twitter, Facebook, and Google+. As an additional bonus
tip, I highly recommend having a Google+ account for SEO purposes.
• Web sites
people love being able to search for information online. Therefore, you
want to have a very informative website that answers questions for
those in need while showcasing your expertise.