Did you know that in 2014 alone, there were over 5 million residential sales? Well, with this staggering number of residential sales, we cannot afford to overlook the power of marketing for real estate investors. A real estate investor must have a step- by- step marketing plan that outlines how to find the best deals and close on them. Strategic marketing is what is needed here as simply advertising and hoping that deals will just fall on your lap is wishful thinking.
Marketing is all about establishing great contacts and identifying those contacts that a person can work with for the long term. It entails setting of goals, following through with goals, following up on leads and setting deadlines. Herein is a comprehensive guide of why marketing is the key to success for real estate investors.
· Marketing boosts your income
As a real estate investor, you can easily earn a great income if only you budget enough for marketing. Not paying much attention to marketing greatly reduces your income potential. During cash strapped times when few people are shopping for property, it therefore becomes extremely important for the property agent to market his services.
Studies have shown that more than 90% of house hunters start with their house search online. In 2014, home search online searches accounted for 92% of online searches. This means that the first impression of any given house will determine whether potential clients consider it or move on to the next one. In view of this, one should maintain a user friendly website as it would serve as an effective real estate marketing tool. Just make sure that the photography and the presentation is on point.
· Marketing helps you monitor your strategies
As an investor it’s crucial to keep track of the strategies that work best as well as do away with those that are not. Knowing which advertising strategies work best is another way of staying on top of the game. If a particular marketing strategy is not generating ANY good motivated seller leads, then you can save money by not going that route. Marketing is all about seeing what is working and what is not. This ultimately helps an investor to know if they need to change their marketing strategies to fit the target audience.
Experiment with different marketing approaches and methods even if it’s on a small scale. You will definitely learn from testing other methods and you can apply what you learn to your existing marketing campaigns. Experimenting with different methods will help you learn spectacular ways of generating more income.
· Marketing advertises the property
Proper marketing is needed for real estate properties to sell fast that is why a real estate agent should advertise the property effectively in order to sell quickly. In 2013, there were over 5.1 million home sales. As your business grows, your marketing campaign and budget should grow too. Many real estate investors don’t increase their budget when they begin having success because they want to take all the profits. Well, that’s the last thing you ought to do. When your marketing strategies are working, it is the best time to build your budget since you have momentum.
Marketing aims at connecting with your target audience. Studies show that the more times a person receives your message, the more he or she becomes more receptive to it? The message: never stop marketing irrespective of success.
· Marketing builds your brand
Professional marketing builds your reputation as a real estate investor who can be trusted. Take the time to make your marketing and advertising as polished as possible. Remember that every bit of marketing communication reflects on your integrity and professionalism.
From the above reasons, it is clear why marketing is the key to success for real estate investors. In order to succeed in the real estate business today, you need to seriously invest in marketing. Don’t allow your competition to reap the whole harvest just because you decided to overlook the importance of marketing.
Resort to Buying Leads Directly
Some investors opt to forego an in-depth and expensive marketing strategy, like google adwords or direct mail marketing, because it's incredibly time consuming and very expensive. They let other online marketers do their online marketing and generate the leads from motivated homeowners for them. Lead sellers such as these, typically spend thousands to generate these high quality leads, and sell them for a premium.