And in order to build a successful real estate investing business, you need to generate leads and close deals consistently, every single month. You can’t build a business on just a few big yearly wins, you need to generate a predictable and reliable monthly income.
Problem is, the real estate market (for agent and investors) — your market — is more cluttered with competitors than it has been in the last decade.
Everyone is trying to get a slice of the real estate revenue pie — one that creates more millionaires than any other industry. And all of that competition makes it hard for prospects and leads to hear your marketing messages.
Just more white noise.
What can you possibly do to make sure you get heard? To make sure that you build the business you set out to build?
To generate more leads for your business (whether buyers or sellers), you might need to do some things you haven’t tried before, things that your competition isn’t doing at all. Here are 5 real estate marketing opportunities that your competitors are most likely ignoring, and if you exploit, will make your marketing messages difficult to miss in the most saturated of markets.
1. Cold Calling
Most people don’t like cold calling.
I get it — who wants to call someone they don’t know, someone who may or may not be interested in their service, and then talk their ear off?
Ohh… uh… I don’t have a phone. Guess it’s direct mail for me!
It’s uncomfortable, difficult… embarrassing, even.
And it’s for that very reason that cold calling can be so darn powerful for your business. Your competition probably isn’t cold calling prospects and, even if they are, the response rate and conversion rate are significantly healthier with cold calling than with even direct mail.
Check out what one of our highest-performing Carrot members, Max Maxwell, has to say about cold calling…
Okay, okay, but let’s talk about the problems.
Cold calling might get a healthy response rate and close rate, but it takes a lot of time. While you can send thousands of direct mailers in minutes, you personally can only cold call maybe 20 people in an hour.
As a business owner, you understand that the only two resources you can use to pay for your marketing efforts is money and time. If you have lots of money, then go beat your competitors at their own game with your big budget. If you don’t have much money, you will need to spend more time.
Orrrrr… you can hire someone to cold call prospects for you.
It really depends on where your business is at. Do you have the money to pay someone for 20 hours per week to cold call prospects? If not, would you be willing to dedicate even 30 minutes per day to cold calling, yourself?
Give it a try and see what happens. You might be surprised at how many leads you generate by picking up the phone.
2. Driving For Dollars
Driving for dollars is a marketing strategy that many beginning real estate investors use when they have big ambitions and small budgets. Mass direct mail is too expensive. Cold calling is too nerve-wracking. And online paid ads are too complicated. So… driving for dollars.
As those same beginning investors find success, many of them opt for more expensive marketing methods — direct mail and paid ads, for instance — now that they have the money necessary to get a healthy ROI.
But it’s worth considering…
Is there a way to drive for dollars at scale? Maybe you could hire a small team to spend 30 minutes per day driving around different neighborhoods and writing down addresses… Maybe you could do it yourself… Or maybe you just pay close attention when you’re running errands (could keep a notepad in your car) and grabbing dinner for the fam.
Check out how big of an impact driving for dollars has had on this Carrot member’s direct mailing strategy…
Could it do the same for you — providing a better response rate and close rate for your direct mail campaigns?
Maybe. There’s only one way to find out. Give it a try and see what happens. It might help you pull more leads in your crowded market by picking out the cream of the crop yourself.
One thing’s for sure — your big market competitor with deep pockets probably isn’t doing it.
3. Community Outreach
Chances are, you’re already out in the community.
As a real estate investor or agent, you’re a bit of a city icon, one of the few people who have their fingers on the economic pulse of the market. And people trust you for that reason — whether you like it or not, you’re a bit mystical to most people, the way that you understand the inner-workings of the real estate market, something that most people understand next to nothing about.
You can enhance that inherent trust for you and your business by going to regular meetups, listening in on city council meetings, helping at charity events, working from coffee shops, and more thoroughly entangling yourself within the community.
The more that people see you, the more they’ll trust you, and the more word-of-mouth leads you’ll generate. Not to mention more referrals from people who’ve worked with you in the past.
It might be a good idea, while your competitor sits in the office and works on his next direct mail campaign, to get out in the community, talk to people, and become the city icon that your business needs to thrive.
4. Search Engine Optimization (SEO)
Passive traffic to your website, un-paid-for. Your phone ringing off the hook with leads and motivated sellers. Someone answering the phone for you and converting those leads into deals, making you money.
That’s the dream — to build a real estate business that’s engine runs off of SEO. Once you’ve worked your way to the top of market-specific search results, not only will that generate consistent leads for your business, but those leads are naturally better quality than paid leads (they came looking for you rather than you looking for them).
Plus, practically everyone searches online, for where to eat, where to drive, and yes, even how to buy or sell their home.
That’s why, at Carrot, we’ve built almost our entire business around helping investors and agents like yourself generate passive traffic with search-engine-optimized websites.
Then, we’ve crafted each of our real estate website templates to convert better than any other websites in the industry.
Here’s an example of how well our member’s websites are ranking (this is the first page of results).
Our Content Pro and Advanced Marketer plans even provide you with weekly content to post on your websites that’s built to rank in Google with just a few small tweaks. There’s a reason that our members are all over the first page of Google ;)
Want to learn more about ranking your website on page one with SEO? Check out our SEO 101 Courses in Carrot University!
5. Organic Social Media Marketing
Many of you have probably tried to generate leads with paid advertising, whether through AdWords or Facebook.
And that’s a wonderful way to generate leads if you do it right (we have an entire article about it over here).
But there’s another way to generate leads that your competitors might not be taking advantage of. And that’s using your social media business page, or even your personal profile, to generate buyer and seller leads for your business.
Well, it’s actually really simple. Just create a cadence (weekly would be good) of posting about the properties you’re looking to buy or sell and then respond to comments and messages.
Don’t forget to post un-business related content throughout the week, though, too so that people don’t get annoyed with all of your pitches and can get a feel for who you are as a person (which builds trust).
Here’s an example of an investor doing this…
And here’s an example of a real estate agent listing…
So… it doesn’t have to be complicated. You don’t need to do anything especially interesting in these posts, the point is just to post and try to get your message in front of an audience that your competitor doesn’t even have access to.
Don’t be too sales-y or pitch-y or it might rub people the wrong way. Just tell people what you have going on and tell them to contact you if they’re interested. Then do it again next week.
Your goal of generating more leads for your business and closing more deals is possible. Your dream of financial predictability and time-freedom is within reach, no matter how competitive your market. You might just need to do some things differently than you’ve been doing them in the past.
Be honest with yourself: if direct mail isn’t profitable, try something else (don’t give up altogether, though). If SEO isn’t working, try some online paid ads. If bandit signs don’t do anything, use that time to cold call instead.
The point is, find what works for your business in your current market and do that.
The more that you’re willing to think outside the box and draw outside of the lines, the better chance your business will have of succeeding in a highly competitive market where everyone is doing the same thing.