Most people in real estate are doing it wrong.
Whether you're a real estate agent or an investor our business is all about attracting motivated sellers.
In the olden days, realtors would spend endless hours walking neighborhoods in their high heels knocking on strangers doors and having idle conversations with random people hoping - just hoping - someone they met along the way might consider them (over their aunt Sally) when it came time to list their home for sale.
I recently read a post on Facebook from a realtor that said if they had to start from scratch in a new town they would get $500 and bribe 100 random people at Starbucks to sit and talk with them in hopes of building a relationship with the community and ultimately (someday... hopefully...) listing a home for sale.
Well, maybe this is how they did it in the olden days when cars had wooden rims and the MLS was printed on papyrus.
And then, the funnel was born...
Today a smart realtor or investor looking to get off-market deals will run a very inexpensive ad on Facebook to homeowners in a specific geographic area and entice only the would-be sellers to contact them.
Use a value driven hook like "get a free ebook" or "7 Secrets to Selling Your House for Top Dollar" or "Three Steps to Avoiding Foreclosure" in exchange for an email address and phone number.
This takes very little time and a $500 ad spend (probably overkill) on FB will make you look like your king of the mountain.
Just remember, marketing is just making friends and giving them value.
Focus on giving the right kind of value that only serious sellers would want and you will be able to get qualified leads for motivated sellers coming to you in droves.
We run several funnels in our local market.
As an investor first (and a real estate broker/contractor second) I focus on running ads to apartment owners, divorcees, and homeowners facing foreclosure.
But my best ad just says"I am looking to buy a house in your neighborhood and I am willing to pay full price".
Honestly, we don't buy many properties with that ad but my firm does list a bunch of them. My ad spend is $100/week and we average about 5 qualified leads with a commission potential of $15k to $30k each.
Don't get caught in the trap of working hard like a peasant. Automate everything and get the "robots" (your funnel) working smart for you.
Matt Skinner is a professional real estate investor and manages a private equity fund. He is founder of Real People Real Returns and creator of the secret real estate entrepreneurs club Deal Maker Society.