5 Biggest Real Estate Marketing Mistakes (VIDEO)
One of the biggest problems I see real estate investors and agents make online when they are marketing their business or their property is very simple, yet often overlooked. How do I know? Because my clients and coaching students do it all the time. Not everyone is doing this one simple mistake but a lot of people do. I bet you are curious as to what is it, right? Well, I’ll tell you.
1. Thinking the More Traffic the More Money
I must tell you that it might seem very obvious. But I bet that most people marketing their business on the Internet are not using it properly for several reasons. One reason is that they think that if they throw a bigger net in the “internet ocean” they’ll catch more fish, get more traffic and make a lot more money. That can be a good reason but it happens on a few bases and it happens to people who are already established online and have a big reach.
2. Not Doing the Proper Research
The other reason why some people don’t take this success secret to heart and use it in their own business is that it takes a little time to get it done right. You’ll need to do some research. Once you complete the research, you’ll need to implement what you have done in your research phase into your business. And to most people, that’s too much work.
But let me just say this one thing. Those that DO the things that seem like too much work, end up owning the market and being 10x more successful than those that do not. Then, people who did not do the necessary steps to be successful sit on the sidelines and wonder what happen. It doesn’t seem like he works that much and I’m busting my butt. Yet, he is far more successful than I am.” Have you heard that one before? I have.
3. Not Targeting the Right Audience
They simply build a really good foundation for their business. Today, I want to talk to you about one of those “foundation walls” you’ll need to set up for yourself so you can be successful in marketing your business online. So, what is that foundation wall you ask?
In order to be successful on the Internet, you need to figure out who your target audience is for your particular market. But have you incorporated it into your business? I bet you haven’t. If you have, how targeted is your audience? If you are selling a real estate property to retail buyers in Los Angeles, California, is your target audience “people who want to buy a home in LA, California?”
4. Not Rounding Up The Right Buyers to Market Too
Think about it, if your retail buyer is a 47-year-old male, who makes $250,000 a year, has 4 kids, and loves spending time outdoors, do you think he is going to want to buy your $150,000 house that has 3 bedrooms, 1,500 square feet in a 60-year-old neighborhood? Probably not. I know this seems like an extreme example but it is very true.
Let me ask you this. How many times did you show a house to a retail buyer who had something totally different in mind? That’s why you need to sit down and nail down your retail buyer. For instance, how about someone who is possibly in his 20s, married with 1-2 kids, and is looking for a starter home, and doesn’t mind an older neighborhood with mature trees, a big yard, and so forth.
Do you think if you market your property to that buyer, you’ll be a lot more successful selling it? I think you would. Here’s a kicker. Online, depending on the marketing media you are using, you can target that person with laser-like precision.
So, before you go any further marketing your next property, sit down with a piece of paper and write out and even DRAW out your perfect buyer. Yes, I said your perfect buyer. Be as specific as you can. Think about what they do, what car they drive, what kind of personality they have, and who they interact with on daily basis.
5. Complete Your Exercises
Once you complete that exercise, you’ll have your buyer and you can create your marketing to suit that target audience to put your marketing piece right in from of them.
I can already hear it. But sir, if I do that, I won’t get as many leads? Yes, that’s true but you will get quality leads and neither one of you is going to be wasting each other’s time. Heck, if you just target the 20s, possibly married, with 1-2 kids who are looking for a starter home and don’t mind an older neighborhood, you’ll be ahead of most of your competition. Online marketing works for so many people because they develop a good strategy. Be consistent and educate yourself.