Knowing how to Market for motivated sellers and discounted real estate deals is the name of the game when it comes to wholesaling houses.
The only way to do this predictably is to establish consistent marketing channels that bring in leads daily.
Don’t know what wholesaling houses is or how to wholesale a house? You can check out my post here where I cover in detail what wholesaling is.
If you want to know what wholesaling houses is you can check out my specific post here.
2 Different Motivated Seller Marketing Approaches
The two marketing approaches are Inbound marketing and Outbound marketing.
Inbound marketing is just like it sounds. The seller calls you inquiring about your house buying services. Outbound marketing on the other hand is when the investor starts reaching out directly to homeowners asking if they would consider an all cash offer for their property.
Let’s look at Inbound marketing
Inbound marketing can also be broken down into two different approaches Online and Offline marketing
This would include motivated seller leads that approach your business from marketing methods like Direct mail and online marketing.
I started my real estate journey in 2004 and focused solely on inbound marketing. Mainly because I was essentially working a full time job and liked the convenience of having sellers reach out to me.
The inbound style of marketing helped me transition from my full time job to wholesaling houses full time.
Offline Marketing like Direct Mail …
Offline marketing mainly consists of Direct Mail for Motivated sellers.
Real estate investors send THOUSANDS of postcards out to potential motivated sellers to generate inbound calls. The goal is to get these calls to turn into offer opportunities.
For years this type of model has worked and still continues to work. It is very cash intensive as the investment in seller data and actually sending the postcards requires considerable capital.
It is not unheard of to spend 8-10,000 on a real estate investor marketing campaign of this nature.
I myself have sent out 100’s of thousands of postcards over the years and have seen a very positive return.
Direct mail has been the gold standard for years and most larger scale wholesale operations continue to send these weird little postcards on a consistent basis.
Direct mail has become more saturated over the years but has seen a considerable decline as of recent as many investors have turned to outbound marketing like texting and cold calling.
Online Marketing for Motivated Sellers
Another form of INBOUND marketing would be using Online marketing methods like Google advertising such as pay-per-click (Google PPC) and search engine optimization (SEO)
(pic of google adwords) Obviously if you are going to use online marketing you are going to need a website. I host my main local motivated seller site through carrot and I would recommend you do the same. They have the real estate investor website dialed in for max conversion for google PPC and SEO. Lets take a look at google pay per click (ppc).
Google PPC for real estate investors
PPC gives real estate investors that chance to connect with homeowners who are ACTIVELY looking for a quick cash sale for their house.
It is not uncommon for you to pay as much as 150.00+ PER CLICK in competitive real estate markets. Google is essentially charges you to display their ad and gets paid when the seller CLICKS on your ad.
Sellers clicking on your google PPC ad DOES NOT guarantee they will fill out their information so you can contact them.
You must make sure that your site is optimized to convert sellers looking for a quick cash offer into an actual motivated seller lead.
If your site is not converting motivated sellers visiting your site, you can lose A LOT of money and FAST.
If your site is converting you will find that the lead quality for google PPC leads is strong because the sellers coming to you have already recognized they have a house problem they would like to solve.
Speed of response and a good lead intake process is a MUST when it comes to handling these type of motivated sellers leads since they are most likely shopping with your local competitors.
Google PPC ties very well into local Search engine optimization. Once your site is converting you can look at adding SEO into your marketing mix.
Local Search Engine Optimization (SEO)
Local Search engine optimization for motivated sellers is more of a long term plan. The work you put into optimizing your site is done once and can reap you benefits for years.
I have found over the years that a motivated seller lead for local SEO has always been great quality. It could be because the seller has gone ONE STEP further in their decision making process. The potential home seller is searching out a LOCAL investor who buys houses company to solve their issue. Not only have they come to grips that they have a house problem they need to solve, they are now searching for an investor in their back yard to solve it.
These two forms of INBOUND motivated seller marketing are the most common. Done correctly, they can find investors all the deals they need for a small operation.
A well run wholesaling business incorporates both inbound and outbound marketing strategies. Are you looking for a mentor and a coach to help find your first deal? Hit this link to schedule a strategy session today.