If you’re interested in the latest housing trends in your area and regularly read real estate blogs, you might have the potential to be a real estate investor. Perhaps you might have been thinking about a career in real estate but don’t know how to dive into the industry.
If these statements perfectly describe you, real estate wholesaling might be the perfect opportunity for you. It’s a great way to jumpstart your career in real estate and eventually reap countless financial and professional benefits from the industry.
What Is Real Estate Wholesaling?
Before you scout and implement strategies to attract clients, it’s essential to know more about real estate wholesaling first. Having in-depth knowledge about real estate wholesaling—what it is and how it works—can increase your chances of success.
In real estate wholesaling, a wholesaler finds and contracts a home seller and then looks for potential homebuyers. Next, the wholesaler markets the property at a higher cost and considers the difference in original and new prices as profit. Generally, wholesalers contract distressed properties.
Unlike house flipping, wholesaling has lower risks because you don’t actually buy the house and pay for its repairs. Instead, a real estate wholesaler only needs time and money to connect with home sellers and find buyers. It’s way cheaper than buying and renovating properties.
Real estate wholesaling is easy to learn and offers countless benefits even to novices in the field. Some wholesalers were able to attest that it could provide a high return on investment and allow you to earn cash quickly.
5 Tips To Attract More Clients
Without any clients, your real estate wholesaling business can’t thrive and survive long-term. How can you earn profits if you can’t find any interested seller? Do you think you can stand out from the competition if you don’t know how to connect with potential buyers?
You can only succeed as a real estate wholesaler if your business has a consistent flow of clients. Even if you’re still new in the industry, as long as you regularly have clients, you can level out the playing field and compete with other players in the industry.
Attracting clients for your real estate wholesaling business could be rocket science for some, but the tips listed below can help you get started easily.
People worldwide have become dependent on technology, so seeing people on their gadgets 24/7 is no longer new. People rely on their devices for productivity, communication, learning, and everything in between.
Therefore, you could make the most out of the status quo and use technology to attract clients. Today, you can use powerful virtual phone systems, such as Drop Cowboy, to deliver voicemails to clients. It’s a non-intrusive engagement method that could increase customer response rates as clients can hear the message and connect to you during their convenient time.
Yet, with the number of real estate wholesalers using voicemails today, yours must stand out. Deviate from the common and learn to develop an edge with the tips below to create effective voicemails that attract clients:
- Smile: Just because you can’t see clients doesn’t mean that you should sulk while recording voicemails. If you want to attract clients, smile when talking over the phone as this can change the tone of your voice and make the person on the other line feel at ease and more comfortable.
- Don’t start with your name: Starting the call by mentioning your company name rarely works because people are likely to be uninterested, especially when they don’t know much about your company. Instead, start your voicemails by letting the recipient know why you’re calling them and then add some value proposition about your services. This is a great way to get the recipient’s attention and correct any assumptions they might have about you or your company.
- Don’t sell: Never sell your services through voicemails. Instead, use this as an opportunity to talk about what you’ve been doing for other clients in the past and the benefits of availing your services. Once you’re able to earn people’s interests, they will be the ones asking for your help in finding buyers for their properties.
2. Search Engine Optimization
Billions of people use the internet daily, making it one of the best platforms to attract clients. The internet is a goldmine of information, and people around the world use it to find answers to their concerns—some of which include how to sell or buy a house.
For your business to have a strong online presence, practice Search Engine Optimization or SEO. SEO is the process of improving various elements in your website to increase its rank in the Search Engine Results Pages or SERPs.
SEO is special because 25.8% of online users click websites displayed on the first page of the SERPs, and only 2.5% reach the tenth page. So how does this impact your real estate wholesaling business? Simple: most online users won’t go past the first page of the SERPs, so having a poor SEO rank will make your business invisible online.
Here are three effective SEO tips to improve your website as a real estate wholesaler:
- Optimize for mobile devices: Since people worldwide use handheld devices to access the World Wide Web, it’s crucial to create a website that’s optimized for different devices. This means that people should access the same amount and quality of information on your website regardless of the device they’re using.
Optimizing your website for mobile devices is easy as long as you consider the page speed, site navigation, homepage, and usability of your existing website.
- Publish useful content: When it comes to SEO, content is king. Having high-quality blogs published regularly on your website is a great way to build authority in the industry and provide information to your target audience.
- Add your site to Google My Business and other directories: Search engines, such as Google and Bing, use local citations as a ranking factor. The more online platforms your website is listed (with consistent information on your name, address, and contact number), the higher your SEO rank gets.
3. Facebook Advertising
Facebook is a great marketing tool for real estate wholesalers because it offers the cheapest deals compared to other social media platforms. Moreover, advertising on Facebook enables you to reach your target audience as the platform is driven by demographic information.
As a real estate wholesaler, you can utilize two different tools on Facebook to attract clients: list and retargeting. The section below will discuss how each of these tools works.
When you use Facebook, you can match up lists with users and advertise your services directly to them. This will save you time and money from advertising on people who don’t care about real estate wholesaling.
You can think of this tool as direct mailing but without mailing, printing, and distribution. And instead of spending around $1 to send a card to someone, you will only have to pay $0.01 when you use this tool on Facebook.
Retargeting is when an online user already visited your website but didn’t convert into a client. Using Facebook, you can track the IP address of specific users and advertise to them again to encourage them to give you a call or submit a form through your website.
Aside from using these tools, you can also create memorable and engaging ads on Facebook by following these tips:
- Maximize vertical videos: Most people hold their phones vertically, so it would be best to use vertical videos in creating ads on Facebook.
- Use call to action buttons: Add call to action buttons on your Facebook ad to draw attention and encourage users to engage with your business. Common call to action buttons you can use are ‘learn more, ‘bookmark us,’ or ‘inquire now.’
- Use the right images: The images you use on Facebook speak volumes about your brand. To grab the attention of online users and leave a positive impression, use high-quality images that represent your brand or services. Avoid adding too much text to your images, as this will only create a distraction.
4. Bandit Signs
Bandit signs are the lifeblood of the real estate wholesale industry and are considered an essential component of every real estate marketing system. Even though it’s primitive compared to other techniques, bandit signs can still generate exposure for wholesalers and attract clients.
The idea of bandit signs is straightforward: you just need an effective slogan and a phone number. You don’t need to develop a logo or talk about your services with this type of marketing. The goal of using bandit signs is that with people driving or walking past your signs every day, someone will eventually show interest and decide to avail of your services.
Your bandit signs will surely attract more users if you take note of the tips below:
Make large signs: Large bandit signs allow larger fonts, making it easier for drivers and passersby to see your ad. Although you might have to spend a few cents more, investing in large bandit signs will be worth it.
Location and visibility are key: Your bandit signs should be exposed to as many people as possible, which is why you should be smart in choosing a location. For example, if you want to target more drivers, pick locations where they can stop and read your sign, such as near gas stations or traffic lights.
Keep your message concise: The message in your bandit signs should be clear and concise so people can easily memorize your number. When you add too many characters or information, people won’t be able to finish reading your bandit signs or remember your phone number.
5. Direct Mails
If bandit signs are considered the classic marketing strategy in real estate wholesaling, direct mail is its child. Similar to bandit signs, direct mail gives information to people about your business. Yet, the difference is that it could help in targeting specific audiences more effectively.
The key to succeeding in a direct mail campaign is to come up with a list of who you’re going to send it to. If you’re trying out direct mail marketing for the first time, you can build a strong list by defining your target audience, choosing your mailing strategy, and segmenting your direct mailing lists.
After creating a strong list, make sure to follow these tips to conduct an effective direct mail campaign that hauls clients:
- Write effective copy: Your mail should have an effective copy to prevent it from going to people’s trash bins. Ideally, you need to design a copy that grabs your recipient’s attention and is informative at the same time.
- Settle on a design: When sending a letter or postcard to your target audience, the design of the envelope and letter is extremely important. Even if the recipient still hasn’t read the mail, they will likely throw it away if they see that the envelope looks sloppy or cheap.
If you want to attract clients through direct mail, settle on a design and use it consistently on your envelope and letter. This will surely make your recipients curious and might encourage them to open the mail ASAP.
- Personalize them: If possible, include appropriate personal details or mention tailored promotions in your mail to engage with clients and encourage them to work with you. Clients love personalized advertising because it makes them feel valued. This will also help you connect with clients on a more personal level.
Audit Your Efforts
Given the tips above, there are indeed many ways to attract leads as a real estate wholesaler. Regardless of the amount of money you plan on spending for marketing and the target audience you want to reach, there will always be specific tactics that would fit the bill.Once you’ve determined which strategy works best for you, try it out, and don’t forget to assess its progress. Attracting clients is a long process that requires regular audits to determine if your chosen strategy works or needs improvement.