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Finding More Buyers and Sellers
| | Tuesday, March 04, 2003 @ 05:00 AM EST
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Contributed by: Derrick Ali
Derrick Ali Properties
Read more archived articles about Marketing
RE Marketing and The Art of Listening: It's about Creating the Care!
"Partnering by Listening"
What it means is that you attract new deals by promising absolute WIN-WIN-WIN situations before determining value. Then you keep those sellers/buyers by delivering fully on that promise in every single transaction — in every deal you do.
The name of the REI marketing game today is to create the care then you’ll always know how to satisfy the owner/buyer — that is, know exactly how your buying/selling a property will help to meet your prospect’s expectations.
So marketing your real estate business takes a lot more than just an Ad. You must analyze with much thought and care what your prospect would like to see happen.
Before you unload wads of cash on biz-cards, flyers, newspaper classifieds or Cable-Public Access TV you must know:
• Who your target buyer/sellers are
• What these prospects would like to see happen
• How you can provide them what they want better, cheaper, faster, safer than the competition
Flexible plans are key
The best marketing plans are a work in process — a throttle that you
regulate as the economy and your industry shift speed. That may not require major overhauls, either. Case in point:
I started out my own RE investing career with expensive Ads in newspapers and 4 Tele-marketing reps. The expenses hit the roof for this would be Donald Trump...
I pulled back on my Ads and eliminated my staff. It definitely was not working.
So I switched up the game and began attending business meetings (listed in my newspaper business section). I made it my sole intent for attending to exercise how well I could LISTEN!!!
As I networked socially with other:
RE Investors,
Realtors,
Attorneys and
Contractors in my town I asked if they minded if I took notes?
No one had an issue and as I gently inquired about the secret to their successes and/or challenge(problems) they faced along the way.
I frequently called (and still do) call on these new found peers of mine, weekly for advice and/or just to keep in touch. This helped me to gauge my delivery as I presented my own interest in buying/selling homes.
I also learned that I could re-direct my efforts to corporate concierges and personnel managers (they are usually the first to know who’s going to be transferred in and out of a company.)
I even started attending local community housing events where I’d volunteer to speak or act as a panelist. I became a Power-Networker!'
Through all of this activity I was able to get some pretty nice homes in nice areas from motivated owners! And I quickly developed a very reliable network built on the value I added and never hesitated to give freely in return! They all liked me because I LISTENED!
As RE Investors our real challenge is to figure out when and where to invest our marketing dollars and how much to spend? It's not easy to do which makes it all the more important to study your market well before spending your hard-earned money.
First, identify, then research exactly what that buyer/seller wants. To do this you absolutely must Listen to them. I do this over the phone using a questionnaire. You could do the same or you could probably sponsor/host a meeting on community concerns about Foreclosures and then do a survey which you will follow up on.
The results are you will gain credibility and exposure for developing confidence and trust necessary for successfully doing new deals. This public-relations move will help you to set the foundation for creating your RE Guerilla marketing plan.
Your meetings could become a regular fixture in your area and attract plenty of deals/referrals and the like getting free ad space in the same media where before you would have had to pay for this as advertising! Nice deal huh?
Anyway just remember: That an RE Investor’s passion may be inspiring and even useful when played out inside your Mental Movie-House BKA: “Theater of the Mind.” In the real world, it's your Buyer/Seller Prospects who count SO LISTEN TO THEM.
Note: Derrick Ali is Director and Chairman of Consumer Mortgage Loan Advocates. He is the author of The Quick Start Real Estate Investing Guide. Derrick specializes in Land Trust Transaction Engineering for Equity Holding Trusts(tm) and/or PACTrusts (tm)
methods. You can also hire him to consult you on the set up of these Land Trusts for you.
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