Real estate investing is a people business. We make money by dealing with people. We work with sellers, buyers, Realtors, brokers, community mangers, sales reps, strangers, friends, handyman, contractors, and many more people on a daily basis. We find properties, buy properties, and sell properties to people.
The point being made above is that your interaction with people will most likely dictate your success in this business. While you cannot expect anyone but yourself to supply you with leads or create value in your life, you can hold yourself to a higher standard to make yourself as well known in your local market as possible. When people think of your real estate niche they should first think of you.
Use the four methods below to start growing your local brand and spreading the word you are here to help and stay.
1. Increase your circle of influence: People want to work with investors they like and trust. Whether you would describe yourself as a “people person” or not, start by asking every real estate professional what types of properties they look for and work with. Start to focus on other people first. When you have opportunities to meet and network with anyone in the real estate field open yourself up and assume you will eventually help or be helped by this individual in the future.
2. Keep connections strong: Continually follow up with past investors, Realtors, brokers, handymen, sellers, and bird-dogs you have met in the past and have not spoken to in a few weeks or longer. Being consistent while investing means that people think of you and refer you while you are not present. People who refer you need to be clear on what you want and why they should help you.
3. Have an online presence: Some of my real estate seller/buyer leads come from my personal website looking for buyers and sellers. While I am sleeping this website is working 24/7 to attract and refer deals to me. By setting up your own website and ranking high for keywords in your home town you can begin to have an online presence to help grown and support your business.
4. Advertise like a machine: Advertising is showing your “Real Estate Wanted” message to your local investing turf. A majority of an investor's budget may be used to advertise for sellers and buyers locally. In your area and within your niche there are likely preferred and popular advertising methods that already have been shown to work. Find out what these methods are and do not try to reinvent the wheel. Make sure to always track your advertising expenses and incoming calls. Eliminate the advertising that does not work to produce calls, and grow the advertising methods that do work well.
5. Talk to new sellers daily: Our investments almost always come from a seller of said unwanted property. Call and reach out to help new sellers daily in your market. A quick 5 minute call could be a call that changes the life of a real estate seller forever. Follow up with these sellers and make sure they all know how you can help and how you cannot help. Aim to provide value to these sellers whether you purchase their property or not. By helping these sellers and asking for future “word of mouth referrals” if they know anyone else selling you can have a small army of sellers referring you to other motivated sellers.
In conclusion you do not need a large budget to become well known in your area. If you have money to test different advertising methods then you may choose to do so. However a more prudent method of getting your name out to the world can be to take the time to get to know local real estate professionals in your market, have them get to know you, and continually be testing and improving your weekly advertising methods.
Hope this all makes sense? If not please comment below.