For 2013, do you have any ideas as to how I can market and increase my real estate business?
In response, I wrote to this article several years back and continue to update it with some of the approaches and ideas that have worked for our business over the past 25 YEARS.
New Years Resolutions: (82) Marketing and Business Strategies for Real Estate
How effective is your marketing? Whether buying, selling, or investing in real estate, marketing is essential to your success.
The key fundamental element in the first level of your real estate business is creating systematic and consistent lead generation. If you are not focused on lead generation, you do not have a business, you have a hobby, or a dream.
Your commitment to marketing is critical. Here are (82) real esate strategies to increase business:
1. Accountants and CPA Firms: They have clients and investors that might be in need of your services, keep in touch and drop off business cards or send an email with a new listing from time to time.
2. Advertising: Never stop. Use simple ads with a USP, Unique Selling Proposition: Quick Closing, All Cash etc., Buy Houses Ads, Newspapers, Flyers.
3. Attorneys: Attorneys know when people need money, often to pay their fees! Not just probate but divorce, family law and real estate attorneys. Clients sell their properties through attorneys.
4. Auctions: Do your homework in advance. Auctions move very fast and a single mistake can be costly. Visit your local auction a few times to just observe. Know values and repair costs before bidding: some types are: Foreclosure: Very risky, not for the newbie, Sheriff Sale: Same as Foreclosure and IRS Sales.
5. Apparel with Logos: Advertise your business withHats, T-Shirts, Golf Shirts, Hand Bags, etc.
6. Appraisers: Get to know some they often know what is, or is going to be, for sale.
7. “Bird Dogs”: People who find and refer you clients. These people can be very valuable to your business. It is important to know your local laws about compensating unlicensed people.
8. Boarded up windows: or visible disrepair, house may be a family estate property soon to be sold?
9. Business Cards different types: one for seller, one for buyers, one for professionals (banker, attorney, CPA)
10. Builders Models: Frequently builders will sell a model home at a discount.
11. Building Inspectors: Same idea as accountants and attorneys, leave business cards, send listings.
12. Car & Truck Loans: Some folks would rather keep the wheels than a roof over their head. Buy here, pay here dealers can be a good lead source.
13. Car Repos: If the car is going, the house isn’t far behind.
14. Carpet Cleaners: Many of their customers are preparing a house for sale.
15. Charitable Groups: Frequently receive gifts of real estate, (but they’d rather have the cash).
16. City & County Inspectors: Code violations and red tags. If you develop a reputation of buying distressed properties and improving them, you become an asset to the community.
17. Classified Ads:For Sale: Look for Key Words – transferred, motivated, divorce, owner financing,Want to Buy, and For Rent by Owner: Look for burned-out landlords
18. Condemned Houses: Many counties will provide you a free list.
19. Consumer Loan Companies: When their loans go bad they are frequently willing to deal rather than foreclose.
20. Courts: Eviction Filings, Probate Court, Divorce Cases, Tax Liens, Code Violations
21. Credit Repair Agencies & Counselors: Many times the only way someone can get their spending under control is to sell a house they can no longer afford.
22. Direct Mail: Pre-Foreclosure Letters, Probate Letters, Out of Town Owners, Post Cards, Bankruptcies, Divorce, Delinquent Taxes, Military Owners
23. Door Hangers: You can also use pre-printed post-it notes to leave messages at target properties. Be sure to advertise on both sides, you can even sell the back side and recover your advertising cost!
24. Door Knocking: Distribute flyers and go door-to-door asking residents if they know of anyone planning to move because you’d like to buy a house in their neighborhood!
25. Drive or walk Neighborhoods: Get to know them well and take notice of changes.
26. Estate Sales – often the real estate will also be available and perhaps with owner financing.
27. Eviction Court: great place to find landlords
28. Expired Listings: Connect with an investor friendly Realtor
29. Family Members: talk about what you do and ask for referrals
30. Farming Local Areas: Become the local neighborhood expert.
31. Flyers: Cut your cost in half, print two to a page and distribute: Shopping Centers, Wal-Mart, Home Depot, Malls. Put on car windshields or, pay someone to do it for you.
32. Friends: “Do you know anyone who wants to sell?” Most people know 2 people who will be buying or selling a home this year.
33. FSBO Signs: for sale by owner, an obvious lead.
34. Funeral Homes: Can be a good lead source before information on a decedent becomes public.
35. Garage Sales: Are they moving?
36. Hair Salons: Lots of talking going on during haircuts!
37. Home Builders: Need to sell their buyers houses so they can close on the new place.
38. Internet: Rent Clicks, EBay, Craig’s List, Wholesale Sites, Lead Services, USLeaseOption.com
39. Insurance Brokers: Policy changes from owner occupant to landlord or vacant house coverage.
40. Investor Packages: Investor who’s ready to retire and cash out their portfolio. Maybe able to negotiate seller financing as well as a discount.
41. Judgments: Check the public record or hire someone to do it for you.
42. Large Employers: Let them know you buy properties because if they need to transfer an employee, they don’t get stuck carrying the house. This can be good for renting executive properties for short-term transferees, too.
43. Lenders: Banks / REO’s: – Mortgage Brokers, Private Lenders, Hard Money Lenders
44. Liened Properties: Mechanics Liens, HOA Liens, Tax Liens
45. “Lis Pendens”: Notice of a law suits, usually a foreclosure.
46. Lists: You can buy lists for anything you want to market to: pre-foreclosures, neighborhoods, properties with no mortgage, etc.
47. Magnetic Car Signs and Wraps: Check with your auto policy carrier as to whether or not this will affect your coverage. (A rider may be required to use as a business vehicle).
48. Market Bulletin Boards: Grocery stores, coffee shops, restaurants
49. Military Transfers: Military bases provide an excellent transient market for those needing to sell and buy off base housing
50. Mobile Homes: Get to know park managers. Banks don’t like mobile homes but they can become little cash cows. A special license is required if you’re going to get into the mobile home business.
51. Moving Companies
52. Neighborhood Newsletters
53. Networking: Meetup groups, Other Investors, Call We Buy Houses ads & signs, Churches, Public Speaking, Investment Associations, Work, Clubs
54. Newspaper Carriers: Who sees the vacant houses everyday?
55. Nursing & Retirement Homes: Frequently residents need to sell a house.
56. Pens: Buy cheap ones and leave them everywhere you go.
57. Pet Odors: If your home has housed a number of pets we may be the buyer for you.
58. Pizza Boxes: many sell advertising or sponsorship spots
59. Postman
60. Public Speaking: Rotary, Lyons and Kiwanis Clubs, Realtor meetings and other associations
61. Quit Claim Deeds: Are a sign that something has changed with the property.
62. Radio Ads or Show
63. Real Estate Agents
64. Referrals
65. Relocations: Great for Subject-to or buying on lease option
66. Rent Credit: Trade rent credit for a down payment
67. Rental Agents & Property Managers: Let them know you want to buy and also find a local manager. You buy, they manage…win/win!!
68. Retirees: A growing population with free and clear homes. Excellent prospects for seller financing.
69. Section 8 Landlords: Each county maintains a list
70. Short Sales
71. Social Media: get your message out: Facebook, Twitter, YouTube
72. Structural Damage: Once you know what you’re doing, you can buy at a rock bottom pricing.
73. Tax Deed Sale Properties: These do not come with title insurance so do your home work.
74. Tax Lien Certificate Properties
75. Termite & Pest Control Companies: Write a check and the termites die. Write another check and replace the damaged wood. May find great deals.
76. Title Companies: Not all transactions close like they are supposed to. Let the title companies know you can help in a pinch, for the right price.
77. Trading Up: Trade your newly renovated property at retail for a property down the block that you can buy wholesale. Try a sign that says “Will Take Your House In Trade”
78. TV and Radio: Cable companies may have community service spots for free.
79. Vacant Properties – look for tall grass and neglected houses
80. Web Sites
81. Wholesaler Lists: A good wholesaler can find you multiple properties.
82. Withdrawn MLS Listings: Easy to get from a friendly real estate agent.
Please feel free to add your comments and suggestions below, or on my real estate blog: Real Estate Updates. Cheers!
Dr. Philip Gordon, PhD
Dr. Gordon has been a real estate professional (France-Propriete-Recherche) and author (Blue Matrix Publications) for over 25 years, both in the US and Europe and he owns and operates several real estate and development companies based out of his home office: Paris-Propriete-Recherche, Miami Property Search, Vacation House France, and New York Property Search. He conducts and teaches real estate investing and leads workshops: Paris Real Estate Network and Nice/Cote d’Azur Real Estate Network and via Skype (designanalysispm). Dr. Gordon is currently semi-retired and he lives with his wife and two sons just outside of Paris, France and provides walking tours of his little village.