A little tough love here…
If you’re not marketing you’re never going to make money in the real estate business…probably in any business for that matter. So if you’re one of those people that isn’t marketing, this post is for YOU!
Let’s go over the common objections:
1) I don’t have enough money to market. Well then get some or do some inexpensive marketing. There are a lot of things you can do that are effective and not too costly…it’ll just require some of your time. If you really want to have and grow a business you need to put some time and money into marketing. You can also cut out some of your little daily expenses and reallocate those funds towards marketing. If funds are that tight then get a part time job (you won’t need it for long once your marketing starts working); partner with someone who has money and no time; use your credit cards; get a new credit card; borrow on the equity in your home; find someone willing to make you a personal loan.
There’s also a lot of inexpensive yet effective marketing strategies you can implement. Like I said, they may take more of your time, but they are lower cost: Pass out fliers door-to-door in your target area; use bandit signs; work with local churches to provide a free seminar for homeowners with problem houses; work with a local pizza delivery company to pay for the printing of their coupons that they place on top of the pizza box if you can use half the sheet for your ad.
2) I don’t have enough time. Marketing only takes a few hours a week. Certainly there are some things that you can cut out of your week to invest the time to create a better life. If no, then outsource the marketing. You create it and have someone else implement. Use Craigslist to place ads.
3) I don’t know what to put in my marketing. Read books on copy writing to get better or just start out with basic honest messages that you deliver in earnest. Here are the questions to answer: Who are you (brand name)? What is their problem that you can solve? How much does it cost (no cost; no fees; no commissions)? Why you? How can they trust you (think testimonials)? How can they reach you?
Your marketing will improve over time, but right now just get started. Don’t allow your inexperience to be an excuse because then you’ll always be inexperienced. Each step you take will boost your confidence and experience level.
I was going to say that I’m sorry if this post offended you, but that’s not true. If this post gets you irritated then maybe you’ll feel enough heat to take action.
I want you successful and marketing will get you there. Start marketing!
Expect abundance,
Lou Castillo
P.S. Do you disagree with me? No problem. Post your comments below and let’s duke it out a little.
I have to agree on this . Just started to market to absentee owners here in my city . I will keep trying . I have 1500 names hoping to get a few deals .
Totally agree, for the longest time I was just working on REO’s with the banks and trying to wholesale those. Well banks are a pain in the *&##@ to work with and there is too much paperwork, so I have since started to implement bandit signs, direct mail, and google adWords marketing for my seller website. This has been a real eye opener and with all of the leads that are coming in I have been able to put 4 properties under contract in the last 60 days or so, and my business is really starting to take off!
All you really need to get 20 to 25 leads per month (enough leads to do 1 deal typically) is to spend around $500 or so and that can turn into $5k to 10k in cash from wholesaling really quickly! Just get going and you will see some folks will just beg you to buy there house.
Thanks a lot Lou! Tough love can be a good thing. This is very good advice.
I hate to say it, but I really needed to hear/read this! (may I re-post it on my blog?…).
And you’ve given us a lot of great ideas to work with! No excuses, this time. I’m taking action today!
Zena
Glad to hear that this message worked for you. It was the best lesson I learned early in my career. I was doing all of the crazy things they tell you like work with a realtor, call the FSBO ads; follow up on vacant houses. No results. I started marketing and suddenly I was making money. It’s the only way. Remember, marketing works with repetition. Never stop marketing!
Lou