Want to close more real estate deals? More importantly, how do you bridge the gap while simultaneously increasing conversions?
Real estate investing can be very simple for those who approach it correctly. That is, of course, if you have taken the time to establish a solid foundation in real estate education and are committed to your business. Those familiar with the industry are enjoying huge profits because of the recent surge in demand for property, especially in San Diego, CA.
However, for every success, there are failures. Many real estate investors are having a difficult time adapting to the changing markets and cyclical trends. Conversions and closings are becoming increasingly difficult for those that are unprepared.
We are now moving into what will be the busiest and most profitable period of the year for a great number of real estate investors. Others may not be so lucky, unless they find a way to increase those connections and conversions. Make sure you are taking advantage of the holiday season.
Here’s three tips for closing the gap and making this your best quarter yet:
Targeting
One of the biggest blunders real estate investors make, in regards to marketing, is failing to use targeting efficiently. This is ironic, given all of the additional targeting tools and data that we have at our disposal. It is easier than ever for investors in today’s industry to utilize precise target marketing. With that being said, they should be closing more deals, faster and for larger net profits.
This means targeting marketing messages to the ideal prospects for your product should be a breeze. So use all of the tools available to you, and get better at follow up.
Pain vs. Pleasure
It doesn’t matter how great you think your offers are, real estate deals or investment opportunities are worthless if prospects don’t feel the same way.
It may make perfect sense to you, but not everyone else always gets it or shares the same point of view.
Offering above market rates to private money lenders, offering a way for homeowners to escape foreclosure, or serving up well polished rehabs at fair prices is great, but that won’t necessarily close the deal. Today’s market requires you to go the extra mile.
It’s your job to find the pain and pleasure points that resonate the deepest with the crowd and show them how your product is the solution to their problem. Place their needs above yours and do what it takes to meet their requirements.
In one of his most recent books, popular author Seth Godin talks about the need for leaders to build their own tribes.
This is an extremely valuable concept for real estate investors and owners of real estate investment companies. If you build a tribe of loyal repeat customers and referral investors, you may be able to see more conversions and move product faster.
This can result from building a Facebook following, email list, buyers list, database of rental property buyers, private mortgage lenders, a waiting list of renters and developing strategic referral partners and an international affiliate network.
You don’t need to have the whole world as a prospecting base, just 1,000, 100 or maybe even 10 fiercely loyal tribe members.
