The secret to real estate investing is….
Building a sales funnel on both the buy and the sell side with an ever expanding list, especially on the buyers side, simply because contrary to a lot of businesses many of your sellers are one time only deals. (Side note: treat your sellers right because they DO REFER!!))
It is imperative to continually and consistently build your list if you are to be successful buying and selling real estate, and this is not something that can be approached haphazardly. One of the biggest suggestions I can make is to put a process in place for building your list and sticking to it, and taking every opportunity to foster its growth.
As I have experimented with the various methods of growing my list, one thing that has become very evident is that if you are trying to do it all by yourself, then it is nearly impossible to do it all and do it well. My thoughts are, if you are going to do something, at least do that one thing well rather than trying to do everything with mediocrity.
What eventually happens when you take on too much is nothing appears to be working well, which it generally isn’t, and you will eventually quit just before something starts to catch on. Then you are left with a lot of hard work and just about zero results and absolute frustration.
Oddly enough, one of the biggest listing building tools I have ever used is the weekend roadside signs stating we had houses for sale; I just kept putting them out week after week. It was persistence and the appeal of knowing I was local and a real person (handwritten signs) that drove the calls.
A few years back, before Craigslist was just another internet marketing place, you could post online and get decent inquiries. Now, there is so much out there that you post an ad by 8 am and by 8:05 it is below the fold on the page and just about nobody sees it. There is something to be said for some of the older school media outlets like the roadside sign, because few are likely doing it in your business anymore simply because sitting behind the computer is so much easier and relatively more cost friendly.
Internet scammers and unscrupulous list builders have made internet marketing somewhat of a turnoff to most of us on top of the sheer volume of folks online these days. We have all been there, signup for something online, then find yourself on a list for just about every unrelated unwanted product or another, including all the sexual performance garbage out there, and it is hard to feel comfortable signing up for anything anymore.
As a side note, it is amazing that there are people out there who think up and construct these out of control emails using misspellings and spacing’s to get past spam filters. Seriously, get a life right!!
Anyhow, the point of this tangent is to make the point that the internet is not some easy to wrangle, one click of a button, place to sell your goods and live on easy street. Now; it can be done, but it takes time and patience. You have to be in front of someone somewhere near 10 times before their comfort level gets to a place where they may call you or make contact via email.
And, this is the whole point; don’t do anything you aren’t going to be able to stick with. That doesn’t mean you only have to do any given thing 10 times, but you have to get in front of people ten times, and they may only catch one out of 10 of your internet postings, so the effort is somewhat exponential. However, once you have reached that comfort level, you are then on the inside track and are much more apt to be able to sell to or buy from these folks in the future, so the effort is worth it.
So, to recap, my advice is to pick a couple of avenues where you can develop a presence for your key prospects and then go to town making sure you are the one they continually see and get to know. You see, most of these fly by night operations come and go, and there is something inherent in all of us that subconsciously waits to see who the holdouts are before we get into any relationship.
Stick to your guns, be a hold-out in your marketing, build your list and succeed.
By Gavin Jackson