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Marketing Tip – Developing Your Dream Team

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By Kathy Kennebrook

Putting your “dream team” in place while establishing your real estate business is one of the key steps to developing a successful real estate investing business quickly and efficiently. Your dream team is going to consist of those people or vendors who can help you find deals, provide funding, get your deals closed and then sold or leased quickly.

Having your dream team in place and being able to close deals quickly will give you a distinct advantage over your competition by allowing you to complete deals they simply won’t be able to finish in a timely manner.

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The first element you need to think about is your marketing team. Your marketing dream team will include the people who can help you locate good deals, such as “bird dogs”, Realtors, mortgage brokers, promotional companies who will supply your business cards, signage, t-shirts and whatever advertising materials you need, and people who will implement your direct mail campaigns for you. You also need to add to the mix the account representatives who will handle your classified and display ads in your local newspaper and shopper guides.

The more you can automate this part of your business, the more deals you’ll be able to do more quickly.

Next, your dream team needs to include a title agent and/or a real estate attorney. These people are going to insure your deals close smoothly and with a clear title. A real estate attorney can help you to solve a lot of problems that can arise during a closing, such as a title glitch, a survey problem, or estate and probate issues, just to name a few. As you develop a relationship with your title agent and/or real estate attorney, they will become a major asset to your business by being better able to work one-on-one with your sellers and you to make sure all your deals close as smoothly as possible. You also need to make sure that your title agent and/or real estate attorney are bi-lingual so they will be able to work with your Spanish speaking sellers as well. This part of your team is one of the most important. If any part of a deal is going to fall apart it is going to be during the process of closing. Make sure you choose the best in the industry to close your deals from the very beginning, even if it costs a little more!

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Then have in place those vendors who can get repairs to a property done quickly and efficiently. Once you develop your dream team, don’t keep changing vendors. This will cost you a lot more money in the long run. Developing a great team of people in your business will help you get more deals done and create bigger profits.

For more information on getting deals done and finding the sellers none of your competitors know anything about check out my website at www.marketingmagiclady.com

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Achieve Success With Your “Dream Team”

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By Kathy Kennebrook
(Marketing Magic Lady)

I have been asked a lot lately by real estate investors about how to create a dream team for their business. Putting your “Dream Team” in place while establishing your real estate business is one of the key steps to developing a successful real estate investing business. Your dream team is going to consist of those people or vendors who can help you find deals, provide funding, get your deals closed, fixed up and then sold or leased quickly. Having your dream team in place and being able to close deals quickly will give you a distinct advantage over your competition by allowing you to complete deals they simply won’t be able to finish in a timely manner.

The first element you need to think about is your marketing team. Your marketing dream team will include the people who can help you locate good deals, such as “bird dogs”, Realtors, mortgage brokers, promotional companies who will supply your business cards, signage, t-shirts and whatever advertising materials you need, and people who will do your direct mail campaigns for you. You also need to add to the mix the account representatives who will handle your classified and display ads in your local newspaper and shopper guides. You also need to have someone who can help with placing signs, flyers and business cards around town for you. The more you can automate this part of your business, the more deals you’ll be able to do more quickly.

african-3402716 teamNext, your dream team needs to include a title agent and/or a real estate attorney. These people are going to insure your deals close smoothly and with a clear title. A real estate attorney can help you to solve a lot of problems that can arise during a closing, such as a title glitch, a survey problem, or estate and probate issues, just to name a few. As you develop a relationship with your title agent and/or real estate attorney, they will become a major asset to your business by being better able to work one-on-one with your sellers and you to make sure all your deals close as smoothly as possible. You also need to make sure that your title agent and/or real estate attorney are bi-lingual so they will be able to work with your Spanish speaking sellers as well. This part of your team is one of the most important. If any part of a deal is going to fall apart it is going to be during the process of closing. Make sure you choose the best in the industry to close your deals from the very beginning, even if it costs a little more!

Using the same “team” to close all your deals for you will give you credibility as a real estate investor both with the sellers you are dealing with and with other vendors you will count on to bring you deals, such as Realtors or mortgage brokers. When you use the same people to close deal after deal for you, they will be willing to go the extra mile to help you in any way they can to get the job done. In addition, they will be able to communicate with one another concerning problems without your having to get involved.

analyzing-3385076 teamSome of the other vendors you’ll need to have on your team include a surveyor, a pest control company (for those states that have termite inspections) private or hard money lenders, an insurance agent, an appraiser and a home inspection service. You will add to that list a mortgage broker, a Realtor and any other vendor that might be unique to the area you live in. These are all people you need to have in place to help you get your deals closed as efficiently as possible.

A friend of mine once told me, “Success is dealing with people as they really are, not what you would have them appear to be.” Know, beforehand, the strengths and weakness of your dream team. Establish a rapport and relationship first. Dream team success is greatly affected by lasting relationships. These do not happen overnight. Remember, success breeds success. Create your dream team from only successful people. The longer you work with the same vendors in your business, the more credibility you build along the way. Don’t keep switching vendors from deal to deal just because someone is a little cheaper.

handshake-3298455_1280Your ability to close quickly can make or break a deal for you. There have been many times where I was able to work with a seller instead of another investor because I was able to close within days instead of weeks. Sometimes a seller’s circumstances dictate that they need to close within days. If you can’t accommodate them, they will find someone who can.

Another reason you want to have your dream team in place is because they will work together for you without you having to be involved in any of the headaches of a closing. It’s rare that I’m ever involved in any of the details of a closing until the closing date. The way I handle my “dream team” is this: each member of my team knows who all my other vendors are and they have contact information for each of them. When a problem arises with a closing, they are able to work together to solve it without any involvement from me at all. This is a great way for your closings to be handled on “auto-pilot” almost, giving you more time to create more deals or do other things that you want to do.

teamwork-2188039 dreamteamYou’ll also want to have your dream team in place to help you to sell or lease properties rapidly. The members of this part of your team may include a Realtor, a sales person of your choosing, someone to handle marketing of the property, a mortgage broker to get buyers pre-qualified for you, and a good rehab crew to get your properties ready for sale or lease. You may also use a property management company to handle your leases for you on properties you choose to keep. Make sure that all of the members of this group are as creative as you are when it comes to getting things done and properties leased, sold and closed.

Other members of your team may also include wholesale buyers who will purchase properties from you without you having to do any of the repairs. This is a good way to make money quickly and easily in the real estate business.

sale-3701777_1280As soon as I put a property under contract to purchase, I know exactly what my exit strategy is going to be, so when I close we are ready to move onto the next phase, the rehabbing, the selling or leasing of the property. Having your dream team in place is an excellent way to streamline your business to enable you to do more deals faster and make more money.

Once you put your dream team in place, you’ll be able to close more deals more quickly and easily than you ever imagined.

For more information about Kathy Kennebrook’s products for the real estate investor be sure and visit her website at www.marketingmagiclady.com While you are there be sure and sign up for Kathy’s FREE monthly newsletter and receive an additional $149.00 in marketing tools absolutely free!!

kathykABOUT THE AUTHOR: Kathy Kennebrook is the ultimate success story. She spent over 20 years in the banking industry before discovering the world of real estate. After attending some real estate seminars this 4 foot 11″ mother of two got really excited and before you know it she’d bought and sold hundreds of properties using none of her own money or credit. Kathy holds a degree in finance and has co­authored the books­ The Venus Approach to Real Estate Investing, Walking With the Wise Real Estate Investor, and Walking With the Wise Entrepreneur which also includes real estate experts Donald Trump, Suze Orman, Robert Kiyosaki, and Dr. Wayne Dyer. She is the nation’s leading expert at finding highly qualified, motivated sellers, buyers and lenders using many types of direct mail marketing. She is known throughout the United States and Canada as the “Marketing Magic Lady”. She has put together a simple step­ by ­step system that anyone can follow to duplicate her success. Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand, Donald Trump, Dr. Phil, Dan Kennedy, Mark Victor Hansen, Ted Thomas and Suze Orman to name a few.

Marketing Offline Helps Build Personal Relationships

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By Gene Guarino

What is Offline Marketing?

Offline Marketing is having a brochure, flyers and business cards. They should look professional and be accurate and clear. You only get one chance to make a first impression. The brochures should match your website and your online presence. In addition to that, one of your biggest and probably the most important way to market your business is referrals. Getting the word out to other people who can bring business to you.

business-card-943997_1280How do you get referrals?

When somebody is thinking about Assisted Living, they’re going to ask someone they trust. who do you know? Where do you think I should go? If they have a friend that’s in a care home right now, they can invite them over for a visit to see for themselves. We need to create and maintain those relationships.

There are professional referral sources.

There are placement agents that refer seniors to homes. They went out and created the relationships. They typically get paid one month’s fee for those referrals. That’s expensive however if the bed was vacant last night you would have earned zero and you’ll never get that revenue back.

tie-690084_1280There are attorneys that specialize in working with seniors. Insurance agents that work with long-term care insurance. Financial planners that specialize in working with people’s estates as they get older. They’re the ones who are getting ask for a referral and they can direct those people to you.

Hospitals and doctors offices are your two other primary sources for referrals. People don’t go into a hospital for fun. They go there in an emergency or because they’re sick and they need to, not because they want to. The hospital has doctors, nurses, and orderlies that are potential referral sources for you. It could be something as simple as having your brochure in the waiting room or building a relationship with the nurses and staff.

You can build offline marketing relationships yourself!

chocolate-744337_1280Imagine if you just showed up once a week for a month where you just bring in a flat of coffee, a small box of chocolates and a handful of brochures. Everything I just described costs about $25 or $30. I suggest that you go there once a week at about 10 AM, when they need a little pick me up. Nobody’s ever going to turn down coffee and chocolate. You just say, “Hey, just wanted to stop by and say a quick hello.” Get to find out what their favorite coffee is. That’s about $100 per month. You’re going to get one, or two, or maybe many more referrals from that. Every one of them is worth thousands of dollars to you,

It doesn’t have to be you building those relationships either. It could be your manager or somebody that’s got the personality and is willing to get the word out and build those relationships. Set a budget, give them a business credit card or debit card for these types of expenses to help build those relationships.

Referral marketing is the best way to get new business in Assisted Living and Residential Assisted Living.

You can also subscribe to our iTunes for on the go listening:
https://itunes.apple.com/us/podcast/assisted-living-networks-podcast/id1360517721?mt=2

gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

Working With Motivated Sellers in the Spanish Speaking Market – Even if You Don’t Speak Spanish

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By Kathy Kennebrook “The Marketing Magic Lady”

One of the things I discovered early on in my business as a real estate investor is that there are many ways to reach all kinds of motivated sellers. The main technique I like to use to reach specific sellers in my market is by using a targeted approach, which for me is direct mail. We do add to the mix other types of marketing tools including business cards, signage, bus benches, ads, bird dogs and flyers to name a few.

I also discovered that there is another segment of the market in addition to English speaking sellers with folks who have homes they need to sell for all kinds of reasons. The market segment I am referring to is the Spanish speaking seller.

The obstacle I ran into was that many of these folks don’t speak any English and I don’t speak any Spanish. So I needed to develop a system to market to these folks effectively since they have the same problems every other seller has.

Many of my students were also contacting me to find out how they too could use direct mail and other types of marketing techniques to reach the Spanish speaking sellers in their areas. They are finding, as am I that these folks have homes they need to sell for a variety of reasons and no one is tapping into this market. Part of the reason for that is the difficulty caused by not speaking the language and not being able to be understood. I found the way to solve that problem for these sellers and for myself as the investor.

I had all of my marketing pieces including my direct mail campaigns for finding motivated sellers translated into Spanish. It was a huge undertaking but it was well worth the effort. The first thing I had to do was to address all of the dialect differences in the Spanish language.

I then sent these letters to the specific market areas where I wanted to buy houses. I sent them out written in English on one side and Spanish on the other. I also had all of my other marketing tools translated into Spanish as well such as signage, ads, lumpy mail pieces, business cards, and flyers which were also causing an influx of leads into our pipeline. Not only that, I even had my tenant referral program materials translated to Spanish since we have a lot of Spanish speaking tenants.

One of the things I discovered very quickly was that while I was getting a lot of response from the Spanish speaking market, I was unable to process the deals due to the language barrier. I solved this problem in two different ways. The first was to send the calls to a 24 hour recorded message which I had recorded in Spanish. I used a professional translator to do this for me so that the grammar, the dialect and the language are correct.

The second way I solved this dilemma was to use a Spanish answering service to take the calls and translate the responses into English so I could read them. We provided the telephone scripts for them to use. I have them both in English and in Spanish so I can provide these to the answering service in whatever format they want it.

You can do the same thing. You can take your own telephone script, give it a bi-lingual answering service, have them ask the questions in Spanish and then translate the responses for you in English so you can read them.  This gives the seller two different ways to contact us, depending on what was the most convenient and comfortable for them. I also provide these potential sellers with a response mechanism at the bottom of the letter I use so they can mail, e-mail or fax their responses to us as well.  The more ways you give a seller to contact you, the more of them are going to.

I then use an interpreter who meets with me and the seller so I can put the deals together. We meet at a location that works for all involved. The interpreters are very reasonable in their fees for their services and they are easy to locate. I found one in the yellow pages listed under “interpreters”. Do try to find someone who specializes in real estate. This makes the whole process a lot easier. By putting a system in place to deal with this market, we were able to do a lot of deals, make money and solve these seller’s problems.

The other method you can employ is to use a Spanish speaking Realtor to help you with your deals and act as an interpreter, and then pay them a fee for doing this for you. If you already have a Realtor on your team performing a variety of services for you, this shouldn’t be difficult to do. I would suggest paying the Realtor a fee separate from their Realtor commission. This is just another way to find a reliable person to act as an interpreter for you when you need to structure these deals.

If you are using hard money or private money to fund your deals, or you are getting the deed, you will be closing these properties with a title agent or real estate attorney. Almost every title agency in the country is bi-lingual. If yours isn’t find one that is. This is a very profitable part of the market that none of your competitors are going after because they simply don’t know how.

Once you get past the language barrier, there are lots of great deals to be made within this marketplace and with these sellers. Remember, these sellers have the same problems everyone else does when it comes to needing to sell a property. You can set up a system in your business that will bring you many deals from the Spanish speaking market.

In my system, Marketing Magic-Spanish Upgrade, I have all of my marketing pieces, both in English and in Spanish for you on CD Rom and I show you exactly how to set up an automated system to reach this marketplace and process these deals. I have basically done all the work for you so all you have to do is get busy and find some properties to purchase with no competition from anyone else.

Be sure and check out my website at www.marketingmagiclady.com for more information on how to find all the Spanish speaking sellers you need for your real estate investing business. While you are there be sure and sign up for my free monthly newsletter and receive an additional $149.00 in FREE marketing tools for your real estate investing business.

Kathy Kennebrook

Kathy Kennebrook is the ultimate success story. She spent over 20 years in the banking industry before discovering the world of real estate. After attending some real estate seminars this 4 foot 11 mother of two got really excited and before you know it she’d bought and sold hundreds of properties using none of her own money or credit.

Kathy holds a degree in finance and has co-authored the books- The Venus Approach to Real Estate Investing, Walking With the Wise Real Estate Investor, and Walking With the Wise Entrepreneur which also includes real estate experts Suze Orman, Robert Kiyosaki, and Dr. Wayne Dyer.

She is the nation’s leading expert at finding highly qualified, motivated sellers, buyers and lenders using many types of direct mail marketing. She is known throughout the United States and Canada as the Marketing Magic Lady. She has put together a simple step-by-step system that anyone can follow to duplicate her success.

Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand, Dr. Phil, Dan Kennedy, Mark Victor Hansen, Ted Thomas and Suze Orman to name a few.

Kathy is going to share with you how she generates a seven figure income by mailing a handful of letters throughout the year to highly selected targets by knowing exactly what to send them, who to send them to and exactly how to deliver her message. She will teach you the secrets of pre-screening and automating your marketing and follow up systems to put your entire Real Estate business on auto-pilot.

 

How to Create More Effective Marketing

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By Sharon Vornholt

Today we’re going to talk about how to create more effective marketing for your business.

First of All…

It’s important to understand that hardly anyone sits down and reads an entire article without skimming it first.  People today are skimmers.

This means you only have a short time to grab their attention and every word matters.  That’s why it’s more important than ever that you spend time learning how to create effective marketing; marketing that gets you the results you want with the fewest words necessary.

#2 Get to the Point Quickly

When someone gets a marketing piece from you, it should be something they can consume quickly.  They should know immediately “what’s in it for them”.  What problem can you solve for them now? The days of folks reading a lengthy letter telling them how great you are, are long gone.  You will have time to tell your story later if you hook them with an effective marketing message.

This is one reason postcards work so well.  There is nothing to open. They see how you can help them immediately: “I will buy your house as is, pay all cash, and close quickly”. That says it all.  It’s short and it’s much more effective marketing.

Take a look at all your marketing and see if there are ways you can simply your message. Do you have words that really don’t need to be there to get your message across?  If so, take them out.

#3 Don’t Confuse Sellers with Too Many Options

When presented with multiple options upfront, this can be overwhelming for many people. What you will find is that when there are too many options people simply can’t choose. They will just move on to a simpler solution AKA your competition.

Have you ever come upon someone marketing a physical product that has a dozen of choices, versions, scents, colors etc.?  When faced with this decision you are likely to go to the next simpler option which is another product or company.

#4 Have a Clear CTA

Your marketing should have one clear CTA (call to action) like:

“Contact us today ….”  

  • For your fast, no obligation offer
  • To see how we can buy your house this week
  • To find out how you can have cash in hand by this time next week
  • And learn how you can be rid of that worry today! (Think pre-foreclosure, job loss, etc.)
  • To find out how you can be rid of that problem property this week.

The goal of your call to action should be to get them to take the next step which should be to contact you.

It doesn’t matter if they are looking at a letter, a postcard, your website or a video.  The desired result is the same.

#5 It’s all about the Presentation

The way you deliver your content is important.  Remember, people want fast information.  This is pretty easy to accomplish with postcards. The message is short by nature.

It takes some practice to write short, concise, direct mail letters, but it’s important that you learn to do this.  You have to tell sellers exactly how you can solve their problem, and tell them what to do next.

#6 What about Your Website? 

Your first paragraph of each page should accomplish the same thing as your other marketing pieces. Don’t assume they are going spend time going over your website and all the options you offer. They just want to know what to do next to solve their problem.

This means that the placement of your contact form is critical. It should always be located above the fold (on the top half of the page).

If your CTA is “contact us so we can buy your house”, providing them with multiple ways to contact you is important. I can tell you this; they aren’t going to search for your contact information so make it easy for them to contact you. This is one case where you want them to have a choice. Not everyone will want to call you, and some people won’t be comfortable filling out an online form.

Give them options.  Contact us:

  • By phone
  • Fill out the convenient form on the right side of the page
  • Email me at [email protected].

#7 Using Social Media to Help You Create Effective Marketing Strategies

Social media is great for helping you get the word out about your business, your services and your products. The fact that you can share everything to such a large audience (generally for free) can’t be beat.

You spend a lot of time to create effective marketing, but it’s of no value unless people know about it.  Set up social media profiles on the major social networks.  Once that is done, you can share information easily which will start to build your brand.

#8 Final Tips

Here are some tips for connecting with your ideal customer.

  • Speak their language. Make your message simple to understand.
  • Tell them exactly how you can help solve their problem.
  • The best marketing connects with the customer, and it makes it clear that it’s “all about them”. Words matter.
  • Limit your ideal customer’s options. Effective marketing will always have a clear call to action and make it easy for them to say yes to your offer.
  • Offer a bonus for working with you. What might that be?  Find out what they need.  Ask them! There is always something else they want or need. It can be things like moving money, an offer to finish cleaning out the house, paying expenses they cannot afford to pay. To be clear, these “bonuses” are always accounted for in your offer.  Think outside the box and get creative. The best bonus is the one they tell you they need.  Having a happy customer AKA buyer or seller is just about the most effective marketing on the plant.
  • Always send them a thank you note after you’ve looked at their property. This is one tip that will definitely make you stand out as an investor.

Once You Have Closed the Deal…

As for a testimonial. This makes all your marketing even more effective.

Happy investing!

Sharon Vornholt

Sharon Vornholt is the owner of Innovative Property Solutions, LLC in Louisville, KY.

Sharon owned and operated a successful home inspection company for 17 years. She began investing in real estate in 1998 and became a full time real estate investor in January of 2008.

Sharon specializes in wholesaling, and is also an experienced landlord and rehabber.

In addition, Sharon is an internet marketer and also writes articles for several national real estate sites. Sharon is the author of a popular real estate blog called the “Louisville Gals Real Estate Blog”. For your FREE REPORT “Probates and Absentee Owners: Your Fast Track to Real Estate Riches”, stop by her blog at: http://LouisvilleGalsRealEstateBlog.com.

 

Why You Need to Create a Customer Plan for Your REI Business

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By Sharon Vornholt

Today I want to talk about why you need to create a customer plan for your real estate investing business (in addition to a marketing plan) and exactly what a customer plan is. This is a new concept for real estate investors, but it’s something savvy businesses have been doing for a while.

What’s the Difference Between a Marketing Plan and a Customer Plan?

Simply put, a marketing plan is used to get leads. It’s used to attract motivated sellers.

Your customer plan details your process or what you do to keep those leads. The goal should be to have a repeatable process for nurturing the people that come into your business as leads.

Let’s Look At Your Marketing Plan

One of the first things you probably learned when you started your investing business was that your #1 job is marketing. You won’t be in business very long if you don’t have a steady stream of leads coming in the door. There are a lot of things you can put off but marketing isn’t one of them.

In order to effectively market your real estate business so that you always have leads, you must have a marketing plan.

Once you have implemented your marketing plan, it’s time to move on to your customer plan.

Exactly What Is a Customer Plan and Why Do You Need One?

A customer plan is a document that you create for your specific business. The customer plan for a real estate business would look much different than one a doctor created for their medical practice.

If you look at most businesses, they spend a lot of time writing business plans and marketing plans that attract customers. However, almost no one has a plan for keeping those customers (AKA motivated sellers) once you have gotten them to call you. Real estate is no different from any other business; it’s all about the customer. In our business they just happen to be folks that want or need to sell a property.

Your customer plan should be a detailed document that outlines everything needed to create a remarkable customer experience. This is the time for innovation; the time to think outside the box. If you really want to be the standout company in your marketplace, you need to find a way to reinvent the way you do business and deliver that exceptional customer experience.

Once you have created your customer plan, it also serves as a roadmap for making your company the absolute best company in your market.

Companies that got it Right

When you talk about companies that disrupted their markets, the first two companies that immediately come to mind are Uber and Airbnb. These companies “reimagined” the taxi business and the hotel business.

Uber changed the model of taxi business forever. People everywhere like riding in a regular automobile much more than a stinky taxi. Airbnb is another company that completely changed the customer experience. They reinvented the way customers choose accommodations when they travel. They are definitely giving hotels a run for their money.

What about cameras and voice recorders? Smart phones have pretty much replaced the need for both of these devices. They forever changed the way we take pictures on the go.

When I think back to the company that changed the way real estate commissions were traditionally paid, RE/MAX was responsible for that major change. Agents no longer had to share their commissions with the broker/office. If you are a RE/MAX agent, you pay a fee for everything; office space, copies etc. but you don’t share your commission. They reimagined the way Realtors get paid.

So the next question is …. how can you create a customer experience that is so different than what people are used to that you become “the one” they all want to work with?

It All Starts with the Customer

The first step is to know your potential customers. Don’t worry about your competition; worry about your customers. Once you know who your ideal customer is, then it’s time to create the best customer experience possible. Focus on creating the experience and the rest will take care of itself.

Of course ultimately this is about getting the deal. But more than that, it’s about creating raving fans that result in referrals, testimonials and repeat business.

Nurturing Your Leads

It’s easier (and cheaper) to nurture a lead than get another one. That’s a fact. Now don’t mistake this for trying to make a deal work that really isn’t a deal. That’s not what I’m talking about. This is about creating an experience for the seller at every touch point that is remarkable.

Anatomy of the Average Real Estate Deal

This is a very basic overview of the way a real estate deal goes from start to finish.

  1. You spend a lot of time and money generating leads
  2. Your marketing results in the seller contacting you about the property
  3. At some point you will have a phone conversation with the seller
  4. The next step is to look at the property if the initial screening call went well
  5. You inspect the property and decide whether or not to make an offer on the property
  6. After negotiations that offer is accepted or rejected
  7. If the offer is accepted you will proceed to the closing/settlement (and get a testimonial)

If you look at the process it’s all pretty mundane. Ask yourself this; looking at these steps, is there anything there that would create a remarkable customer experience? I don’t think so.

So let me ask you this:

  • If nothing were off limits, what could you do?
  • What would you change?
  • Is there a way to “reinvent” the way this process evolves?
  • Where can you innovate?

Let’s Do a Little Brainstorming Here

Let’s start with #1 which is lead generation and look at how you might reinvent the direct mail process.

If everyone is sending the same direct mail pieces; letters and postcards, what can you do differently? How about sending out a newsletter with helpful homeowner tips as your first mail piece? Instead of starting with a letter or postcard that says “I want to buy your house”, you begin your relationship with “Hi I’m Sharon, and I have some helpful tips for you today”. The point is to make a different first impression than everyone else.

Think of it this way; send the sellers something they will enjoy reading and in the process they will be introduced to you as a person rather than a business that wants something from them (their house). By doing this, over time you become the trusted resource in your market. At the bottom of your newsletter let them know that you buy houses and share your contact information.

Taking this thought one step further, why not replace one letter or postcard every quarter with something that would be useful to the sellers like a quarterly newsletter or market update? Information to create these information pieces is readily available on the internet, so it’s really pretty easy.

Doesn’t that make a whole different impression than a “we buy houses” letter or a postcard that’s all about you and your company? You bet it does.

Final Tips

I would like to challenge you to look at each one of those steps in the average real estate deal and think of a way you can “reimagine” the way you do business. Find ways that you can be remarkable in this crowded marketplace of real estate investing.

 

Sharon Vornholt

Louisville Gals Real Estate Blog