Generating Real Estate Leads
From Clever Investor Mentor Dave Ludena:
Thanks for checking in with me today!
I've got some awesome, clever, easy, and inexpensive tips for generating great leads. I actually use these strategies every day, and these tricks help me bring in hundreds of buyer, seller, and money leads that power my own real estate investing business.
So get ready to add these 7 bad boys to your to-do list, pronto …
1). Real Estate Bandit Signs
There's no better way to begin talking about different ways to generate leads than with bandit signs. You’ve seen them around for sure; those little yard signs on street corners or nailed into wooden electrical poles. They cost only about $100 for 100 signs. (Fancy printed ones are also good, but cost more.)
You see bandit signs so frequently because they work and they're one of the most efficient methods for generating leads.
I’m not gonna leave you hangin’ there… wanna know how easy it is to make your own signs? All you need are some blank white signs, a large black marker, wooden stakes, a hammer and some roofing nails. Done and done!
Now at first, you might be the one creating and posting these bandit signs yourself. But if you’re doing a bunch of bandit signs, eventually you’ll want to hire someone to do this for you so you can focus your attention elsewhere. Hire kids from the local high school or even hop on Craigslist to find some help.
Now for the show and tell part! These are examples of my own bandit signs that brought in short sale leads, cash home buyer leads and motivated home seller leads. (I told you, they really do work!) I've even used bandit signs to bring in tenants for my rental properties and lease options.
I like bandit signs for 3 main reasons:
- They're fairly inexpensive.
- They’re fast and easy to put up.
- They’re one of the most effective forms of gorilla marketing.
By now, you’re probably thinking about where the closest store is for you to run out and buy some white signs and markers, right? Slow down, speedy, let’s talk strategy first.
I typically put up my bandit signs over the weekend – place them on a Friday, then go pick them up on a Sunday. Why? Because city officials don't work on weekends, so they won't be coming to remove your signs over the weekend, and you’ll avoid the fines they tend to give out.
One more note about these awesome bandit signs…
Homemade signs tend to get the best response because the homeowner in distress or potential buyer of your wholesale properties doesn't feel like they're calling a professional or a large company. This is a good thing and works in our favor. Because of this more intimate, one-on-one approach, they’re often less guarded and more willing to open up and share some valuable information with you, which can translate into more bucks for you.
As if that wasn’t enough, another smart reason why I prefer the homemade hand-written signs is because everybody loves that garage sale mentality. Once again, it doesn’t look like a professional business is marketing themselves, instead you’re just a regular, approachable guy.
#2. Bumper Stickers
Another great way to generate buyer leads is to create bumper stickers and post them on the foreclosures going to auction. Just like the bandit signs, these are super easy to make and rather inexpensive.
Go to StickerGiant.com to make your own sticker - 250 bumper stickers cost just $175.
You’ll want them to have only three points of simple, eye-catching info:
- You buy discounted properties
- Your website URL
- Your phone number.
Then just look online at the public records to see which houses are scheduled to go to auction on the next scheduled auction date, and put your sticker on the front door of those properties. Here’s where you can even double dip - while you're there, post a bandit sign in the front yard that has your phone number and says want to buy that cheap foreclosure.
There is a caveat to keep in mind though - only place stickers on homes that are vacant.
The reason we do this is because buying homes on the courthouse steps typically requires a cash buyer. You’ll be amazed at how many cash buyers want to take advantage of the discounts found at auctions, but don't want to spend all day driving around looking at foreclosures…
So when they call you, let them know that you‘ll do all the hard leg work to help them find good deals and that all you need is their name, phone number and email address to add to your VIP Buyer’s List. Then, just find out what type of investment properties they're looking for and go out and find it for them.
#3. Referral Network
As real estate investors, we live and die by the deals we make. And in most cases, the best deals we find come to us by means of a referral.
To build your all-important referral network, start by joining a network at your local real estate investing association. Join any of the subgroups they have to offer and help support their events by hosting the event, or at least bringing the refreshments.
You can also go to meetup.com to see if there are any investing events scheduled in your area.
Just remember that once you become involved with a group, it's going to take some time to build your rapport and establish profitable relationships. And, before you even step foot in these events, make sure you practice your 30-second commercial about who you are and what you do. The smoother your delivery, the better your chances are of getting referrals.
Final (Super Important) Note
Once last thought before I wrap up Part 1... I want to make sure you understand the importance of follow up.
When someone gives you a referral always, always, always follow up with that person and let them know the outcome from the lead they gave you.
Even if you felt like it was a huge waste of your time, it is a sign of a true networking professional to follow up on any leads given to you. It might not have been a good deal for you this time, but next time that same person will remember your professionalism and send you another lead that may just be a winner.
Well guys, this brings us to the end of Part 1 of this awesome series. Make sure you check back in soon for Part 2 where I’ll cover Squeeze Pages, Google Surfing and Tax Record Reverse Searches. Plus, I’ll tell you how I added more than 1500 potential buyers to my Buyer’s List in less than 2 weeks. You won’t want to miss this!
Any thoughts on any of this? I'd love to hear em. Leave a comment!