What marketing strategy has paid off best for you?

Marketing Your Property
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What marketing strategy has paid off best for you?

Deadrick Colbert
Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes

I have read a lot of posts about various ways of marketing. Most seem to agree that one needs at least 5 steady streams of marketing to continuously produce leads. I'd like to hear what everyone has had the most success with. Please share what has worked best for you and any tips you can think of.

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Michael Quarles
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
13y

Jesse R.

This is the script we use

Hi, I’m calling about the house for sale… My name is __________with I Buy Houses.

I bet you are bombarded with real estate agents calling you and trying to list your home for sale… And

1. I’m sure you’ve selling your houses yourself to save as much money on real estate commission as possible…Is that right. (It is) Terrific! / Really!

2. When would you like this house Sold? (Now)That’s exciting!

3. Do you have your next home picked out already? (You do) Ouch!

4. What do you think it will take to get the houses sold? (The right offer) Really!

5. Now you have had it offered at _________ and it hasn't sold, right? (No) Really!

6. And your planning on lowering the price this time to get the house sold, aren’t you? (You are) terrific!

7. I buy houses… just like yours… all of the time, and I have found that if the seller is willing… we can come up with a solution that works best for both of us, is that okay with you? (Yes) outstanding

8. Sometimes the only way we can buy the houses we look at is to take over the debt and pay you your equity, That means the loan will stay in your name until its sold, assumed or paid off.

9. Sometimes even buy the house under a lease option… Is that a problem? ? Yes ? No

10. So if we can pay you your equity, guarantee and make your payments and be responsible for all repairs you will sell the home to us, right? ? Yes ? No

11. What time today would be better for me to come out and buy your house ___________ or ______________? (___) Terrific

12. Before I come out… there are just a few more questions… I need to ask about your house, is that okay? (It is) outstanding

13. Is the home ? Vacant or ? Occupied? Occupant Name?

14. _____ Bedrooms ______ Baths

15. How many Square Feet? ________________

16. Size of the Garage? ____________________

17. How did you happen to own the home?

18. What Kind of repairs does it need?

? Carpet ? Paint ? Roof ? Cabinets ? Electrical ? Plumbing ? Plaster ? Sheet Rock
? Cooler ? Heater ? Air Conditioner ?Window ? Landscaping ? Clean-up ? ______

19. What do you think the repair cost will be?____________

20. What are you asking for the house? __________________

21. Is that ? Fixed–Up or ? ‘As Is’

22. How did you come up with that Price?

23. How soon would you like to be sold? ____Days _________Date

24. Is there a Mortgage on the house? ? Yes ? No

25. What is/are the balance? 1st ________ 2nd ________3rd________

26. Are you in Foreclosure? ? Yes ? No ? Notice of Default or ? Trustee Sale...Sale Date _______ Arrearage Amount __________

One last thing…. When I come out… it is important…that all of the decision makers be there…. so I can come to an agreement to buy your house… Will all of the decision makers be there for the appointment? (If all of them are not there don’t go)

Well, ____________ I look forward in meeting you at __________…

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  • Alison M.
    Real Estate Professional · Falls Church, VA · Member since 2012 · 238 posts · 83 votes
    13y

    Hi Deadrick - this is such a huge topic I think it's tough to narrow it down to a few sentences. But the biggest marketing lesson I've learned in 5 years of full-time investing is: JUST DO LOTS OF IT. Don't overthink it! Just do it! Start with one method and then add others as you get more experienced.

    Read the posts here from the marketing specialists, make your best educated choice, but then get the marketing out there regularly and on a repeat basis, and do enough to get your phone ringing. Track and see what works in your market, then do more of it. That's pretty much it!

    Don't get hung up on devising the one, best, perfect, killer marketing campaign before you get started because there isn't one. You will learn as you go, and read this forum every day. Good luck!

    2Reply
  • Mike Nelson
    Wholesaler · Washington, D.C · Member since 2011 · 449 posts · 94 votes
    13y

    Hi Deadrick Colbert! I would say still it's Direct Mail. You just have to know where to look for the more motivated leads that others often overlook. Get creative, be resourceful.

    0Reply
  • Laurence Bealer
    Real Estate Investor · Houston, TX · Member since 2012 · 80 posts · 11 votes
    13y

    From my experience the best response and conversion from leads has to be yellow letters and bandit signs (provided they last more than a couple of hours)

    2Reply
  • Priscilla Z.
    Rental Property Investor · Palm Bay, FL · Member since 2009 · 511 posts · 290 votes
    13y

    I'm with Laurence, yellow letters and bandit signs.

    1Reply
  • Account Closed
    Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
    13y

    Mail marketing is still working for me. But two of the most profitable deals I've ever done came from cold calls I made after lots of research to find the sellers or heirs.

    0Reply
  • Robert Conroy
    Investor · Franklin , MA · Member since 2009 · 22 posts · 1 vote
    13y

    And what about targets?

    My short sale(pre-foreclosure) response rate has reduced, and the sales cycle has gotten longer - now that Sellers know they can squat for a while, plus dealing with "new" Obama programs, lol.
    I have just started to do multiple mailings to this list.
    I am thinking absentee owners out of state, and/or high equity/seasoned ownership properties.

    I (can and do) wholesale/ quick turn, or fix n flip, depending of local and level of effort - and the bottom line obviously.

    Anyone want to weigh in?

    Thx

    0Reply
  • Deadrick Colbert
    OP
    Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes
    13y

    Thanks for the responses. I've never tried direct mail but am in the process of it as we speak.

    0Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    13y

    Hello Deadrick

    Probably the most overlooked method is marketing to your COI. People you know even casually.

    Then direct mail.

    Cold calling is powerful and intimidating however a lot can be gained utilizing it.

    With the market changing you may find TV to be viable again although a disaster if you don't know how to buy.

    Pencil and pens. This is a long term approach. Give pencils to 3-6 grade teachers and pens to waitresses in your target market.

    3Reply
  • Deadrick Colbert
    OP
    Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes
    13y

    Michael, thanks for the great ideas.

    0Reply
  • Adam WeitzPro Member
    Real Estate Investor · Folsom, CA · Member since 2013 · 2 posts · 0 votes
    13y

    Michael Quarles seriously pencils and pens? That's the first time I've heard of that. I dig the uniqueness. Any idea of a response rate or is it too long term to measure?

    As much as my business partner eats out I might have to load him up with some pens.

    0Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    13y

    Adam. Time yourself on finding a pencil.

    1Reply
  • Braden C.
    Real Estate Investor · FL · Member since 2011 · 586 posts · 360 votes
    13y

    Although I do several different types of marketing, direct mail is by far the most effective. Optimizing your list and actual letter is key, you can waste thousands of dollars trying to figure out what works and what doesn't.

    Although I have several different streams of marketing, I am pretty confident that I could do just fine with letters alone.

    0Reply
  • Doug P.
    Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
    13y

    I've got most of my deals by cold calling FSBOs.

    1Reply
  • Jesse Rivera
    Lender · Long Beach, CA · Member since 2013 · 496 posts · 296 votes
    13y
    Originally posted by Doug Pretorius:
    I've got most of my deals by cold calling FSBOs.

    Doug, what do you say to FSBOs when you call?

    0Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    13y

    Jesse R.

    This is the script we use

    Hi, I’m calling about the house for sale… My name is __________with I Buy Houses.

    I bet you are bombarded with real estate agents calling you and trying to list your home for sale… And

    1. I’m sure you’ve selling your houses yourself to save as much money on real estate commission as possible…Is that right. (It is) Terrific! / Really!

    2. When would you like this house Sold? (Now)That’s exciting!

    3. Do you have your next home picked out already? (You do) Ouch!

    4. What do you think it will take to get the houses sold? (The right offer) Really!

    5. Now you have had it offered at _________ and it hasn't sold, right? (No) Really!

    6. And your planning on lowering the price this time to get the house sold, aren’t you? (You are) terrific!

    7. I buy houses… just like yours… all of the time, and I have found that if the seller is willing… we can come up with a solution that works best for both of us, is that okay with you? (Yes) outstanding

    8. Sometimes the only way we can buy the houses we look at is to take over the debt and pay you your equity, That means the loan will stay in your name until its sold, assumed or paid off.

    9. Sometimes even buy the house under a lease option… Is that a problem? ? Yes ? No

    10. So if we can pay you your equity, guarantee and make your payments and be responsible for all repairs you will sell the home to us, right? ? Yes ? No

    11. What time today would be better for me to come out and buy your house ___________ or ______________? (___) Terrific

    12. Before I come out… there are just a few more questions… I need to ask about your house, is that okay? (It is) outstanding

    13. Is the home ? Vacant or ? Occupied? Occupant Name?

    14. _____ Bedrooms ______ Baths

    15. How many Square Feet? ________________

    16. Size of the Garage? ____________________

    17. How did you happen to own the home?

    18. What Kind of repairs does it need?

    ? Carpet ? Paint ? Roof ? Cabinets ? Electrical ? Plumbing ? Plaster ? Sheet Rock
    ? Cooler ? Heater ? Air Conditioner ?Window ? Landscaping ? Clean-up ? ______

    19. What do you think the repair cost will be?____________

    20. What are you asking for the house? __________________

    21. Is that ? Fixed–Up or ? ‘As Is’

    22. How did you come up with that Price?

    23. How soon would you like to be sold? ____Days _________Date

    24. Is there a Mortgage on the house? ? Yes ? No

    25. What is/are the balance? 1st ________ 2nd ________3rd________

    26. Are you in Foreclosure? ? Yes ? No ? Notice of Default or ? Trustee Sale...Sale Date _______ Arrearage Amount __________

    One last thing…. When I come out… it is important…that all of the decision makers be there…. so I can come to an agreement to buy your house… Will all of the decision makers be there for the appointment? (If all of them are not there don’t go)

    Well, ____________ I look forward in meeting you at __________…

    4Reply
  • Jesse Rivera
    Lender · Long Beach, CA · Member since 2013 · 496 posts · 296 votes
    13y

    @Michael Quarles

    Awesome, thanks Micheal!

    0Reply
  • Brian Gibbons
    Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
    13y

    Old Fashioned Antiquated Marketing Still Works!

    I like lease option assignments, so I do this,

    1. Door Knock to Listed Houses - give them literature about lease purchase

    2. Door Knock to Expired Listing Houses - give them literature about lease purchase

    3. FSBOs - walk through the house and present the solution

    4. FRBOs - walk through the house and present the solution

    5. We buy houses Investors - take them to lunch and offer to pay for marketing in your sweet spot that they cant do anything with the lead - not enough equity, etc.

    Dale Carnegie stuff, make a friend.

    Brian

    0Reply
  • Doug P.
    Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
    13y

    Jesse Rivera I've tried hundreds of scripts and what worked the best for me was just these 2 questions:

    For Lease options:
    "Would you consider a rent to own?"

    For Subject tos:
    "Would you consider selling your house for what you owe on it?"

    1Reply
  • Wendell De Guzman
    Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
    13y

    Doug Pretorius, agree with you. I have the same experience for subject to's.

    0Reply
  • Clay Huber
    Specialist · Grand Rapids, MI · Member since 2011 · 61 posts · 23 votes
    13y

    While I am not doing Direct Mail currently, it amazes me that I still get calls from letters I've sent out literally months upon months ago.

    0Reply
  • Doug P.
    Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
    13y

    Clay Huber I had a seller call and say that he'd had my postcard on his fridge for 6 months!

    0Reply
  • Clay Huber
    Specialist · Grand Rapids, MI · Member since 2011 · 61 posts · 23 votes
    13y
    Originally posted by Doug Pretorius:
    Clay Huber I had a seller call and say that he'd had my postcard on his fridge for 6 months!

    Isn't that wild? Hearing stuff like this and then combining it with my own experience just reinforces the fact that direct mail really is a worthwhile marketing strategy to generate leads.

    0Reply
  • Eric Scott
    toronto, ON · Member since 2013 · 27 posts · 4 votes
    13y

    I like and recommend direct mail marketing. I think it is one of the best ways to promote a business in the targeted area. This strategy is itself highly targeted and effective. We can reach to the clients directly and present our services to their hand. I think this marketing strategy provides success in a short time. I have used the mailing list on LeadMonkeyLists.com for the campaign of my real estate business.

    0Reply
  • Dev HornPro Member
    Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
    13y

    Most of the pro-level investors are using direct mail as their core strategy, and they do it "religiously". They send to several groups/lists, with marketing messages tailored for each group, and they know that it takes 3 to 5 touches before things start to really happen with direct mail. But like others above mentioned, it can have a snowball effect in that people will contact you months later so the more cards/letters you get out there, the more likely you will be contacted (seems logical =).

    Pay-per-Click (PPC) is effective but it has gotten more competitive and expensive lately, with good keywords related to our business going for $5 to $15 per CLICK in many larger metros. We recommend it to larger clients (county-level) with larger budgets.

    0Reply
  • Deadrick Colbert
    OP
    Investor · Easley, SC · Member since 2013 · 248 posts · 51 votes
    13y

    It seems as if direct mail is the overwhelming favorite. I appreciate everyone's input and advice. Thank you all.

    0Reply
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