There are essentially 5 steps to being successful in real estate marketing. Before we go into the 5 steps of real estate marketing, I want to encourage you to become a student of marketing. The moment that you are able to find your own deals - on demand - the more money you will make! It’s a direct correlation. When I started out in real estate, I didn’t understand how to “really” market for deals. I was depending upon real estate agents, local real estate investing groups, etc. I did a lot of deals, but I realized I wasn’t making the kind of money I knew I could in estate.

Follow these five steps to successful real estate marketing and you’ll be on your way to filling your own funnel full of five-figure deals.

1. Define Your Target Market:
   You must be focused… If you run in too many directions, focusing on too many real estate markets, you’ll always be skipping around, never getting ahead. You need to learn overcome objections; you need to know how to handle the different situations that arise. Once you master one market, then you can duplicate your system across market after market. For instance, you may choose to start working with foreclosures or out of state owners. Once you get the real estate marketing system in place for one, add the other. Then, you can simply duplicate it over and over again!

   The single most important thing to remember is that you MUST target motivated sellers…. PERIOD.

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Recently, Brandon and I were elected to chair the marketing committee at Keller Williams. The company model doesn’t include a marketing “budget” for the office. Marketing is the sole responsibility of the agents within the office to orchestrate and execute.

Despite that, agents all agree when they sign on to have $50 taken out of every closing to pay for office marketing. A decent model when listings are selling. However… when the market comes to a screeching halt and sales dip, the marketing budget dips too! We were running an ad that cost nearly $5000/month largely paid for by individual agents that wanted their listings showcased in color in the Sunday classified section once/month.So… here’s what happened! We got “elected” to the committee at the end of January. The first meeting we were able to pull together was the first week of March. In the interim, prior to having our first meeting and even recruiting our committee, we immediately slashed the ad! The definition of insanity is doing the same thing over and over again and expecting different results! This is absolutely true when it comes to marketing! (more…)