PROSPECTING
For real-estate investors
Most real estate investors think they are
in the business of ?transaction engineering? but the trough
is that we are in the business of marketing.
After every seminar, more then 70 percent
of the attendees fail in their business and one of the
reasons is that don?t invest enough time and money and
systemize there marketing program. It?s better to be a total
idiot abut real estate investing but get many motivated
sellers calling you every day, then to be an expert with no
one calling. The first investor will eventually learn from
trial and error. Finding Motivated Prospects will show you
all the new age techniques to get motivated prospects to
contact you (phone, web site, email etc?).
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"
You are better off not understanding
real-estate techniques and getting
contacted by motivated seller, then be a
guru WHOM NO ONE CALLS!"
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The pivotal point in creating a successful real estate
business is to get the advertising machine in motion,
and then just have an efficient system in place to
process all the prospects (like the Prospect Screener
software system).
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Most investors who have great
marketing still FAIL!
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Tracking, Tracking and more tracking.
Everyone needs to track the leads like:
Prospecting is always the most important
part in every real estate investing business and need to be
taken seriously. The first part in the correct marketing is
setting up a budget and sticking to it. You can start low
cost, but you need to be consistent month after month. Many
investors will start a direct mail campaign and send only 1
letter to absentee owners or pre-foreclosures and after not
getting a great response quit the business all together.
This is a recipe for disaster. Most of your deals will come
after the THIRD OR FORTH contact.
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Prospecting is a
numbers game!
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Your success is directly measured the the amount put in
(number of letter, ads, road signs) and the number of first
contacts made. Each subsequent number will get smaller. For
example if you start by sending out 100 letters, and getting
5 phone calls you might make 1 or 2 deals. On each
subsequent level the number gets smaller, and you should
attempt to track it and categorize it by the marketing type
you use.
When you calculate the cost of acquiring
and holding real-estate, do you calculate the
marketing cost?
It's very surprising how many
inventors simply do not have marketing as par of
the cost break down.
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Testing is another crucial aspect of marketing. You should
always test, and track results. You should have a multitude
of marketing programs in place and many will fail, but it
only takes a few winners to get you the paydays, after
discovering the programs that work, you can just replicate
them.
The course deals with using new age methods of marketing
such as using web modules to generate leads. Using existing
lists to find new prospects is a great way to sell your
properties, but it requires some understanding of data
mining techniques.
There are also many high-tech sources
that are now available, and where not in the past. Many
counties have GIS systems available at no cost to the
public. When you want to market a property, the very first
avenue is to get a list of all the neighbors and notify
them, the online GIS systems are perfect for this purpose.
Prospects are not just sellers, but also
buyers and lenders. Where can you get lenders to fund your
deals? Most states publish databases of professionals with
licenses, like mortgage brokers, dentists, realtors etc. The
course will show you how to develop a database and how to
inexpensively generate a marketing campaign from you
database and track your efforts. This section works great
with the lender web module, or you can create your own
custom build web site to market the lender package and
attract money to fund your real-estate deals.
Many of deals are generated from
real-estate investor meetings. Does your web site have an
area for other investors to sign up for instant
notifications when you have a new deal? Do you even have a
system for automated marketing to your investors list? If
you a wholesaler this is a MUST!
Bridging has also gone high-tech. How do
you let birddogs know the status of the deal they have
submitted? Can they log into your web site and see if the
deal is close to closing? Will they get paid? What if they
are submitting a duplicate of a deal you already have in the
database? How is that handled?
These are all issues that Technovestor Inc. deals with on a
daily basis and is developing procedures and technologies to
deal with.
