Once you decide to be a real estate investor, you should actively search for leads for new properties and buyers. A marketing funnel aims to attract target clients/properties and push them through the funnel using strategies that make them close a deal.
This blog explains the marketing funnel to find real estate leads as an investor. You will learn the different steps in the marketing funnel and what you should do at each stage.
Remember, you must work with others in the real estate industry. You need professionals around you to help you make the right decisions at the right time. We can help you get the best real estate agents to help you get good property deals that will make you more money later.
The Marketing Funnel in Real Estate
Step 1: Identify Your Target Market
As a real estate investor, it's essential to identify your target market and know how to attract them. What regions are you comfortable with investing in a new property? Once you research to know the best areas, you can be active in those areas.
Start by attending seminars and community projects in your interested areas. In addition, you can search online for listings in the regions and learn more about their deals.
At this stage, identify the best properties you are interested in buying, and contact the owners or the associated real estate agents. However, ensure you are comfortable with investing in the neighbourhood. So, it's essential to research before taking the next step in the marketing funnel for real estate.
Remember, the only limitation at this stage is when the property is in an active sale agreement.
Step 2: Follow up on potential leads
It is crucial to follow up on potential leads promptly to increase the chances of conversion. Remember, you might not be the only one eying at a good property deal. Some other investors might be interested.
You should track your leads and contact each seller as soon as possible. Ensure you ask questions about their properties to understand their deal. For instance, you can ask about the property's age, size, and price.
Now, you will have many options to compare after reaching out to the property sellers. At this point, you should be more careful in your selection. You can forego some leads and focus on the most appealing ones.
Step 3: Analyse the deals
Once you choose some potential leads to move on to the bottom of the marketing funnel, ensure you research deeper about the properties. You can do due diligence about the leads you have.
It’s good to learn why the seller is disposing of the property. You should also know the potential monthly rental income for the property.
Step 4: What is your potential gain?
Calculate how much you can gain from investing in each lead from the few leads you've selected. At this point, you should be aware of the current market trends and the rental property income range in the property neighbourhoods.
Now, your property purchase budget will guide you in selecting the best property to invest in with higher potential yields.
Step 5: Send an offer
You've found a few properties you're interested in, and you're ready to make an offer. You can send several offers according to the number of properties you want to buy.
When sending a request to the seller, ensure you've researched the property and the current market trends. You can benefit if you are buying during a buyer's market.
When you're ready to make an offer, the first step is to submit a written proposal to the seller. Your proposal should include the price you're willing to pay and any other terms and conditions that are important to you.
If the seller accepts your offer, you're on your way to buying a new property. But if the seller rejects your offer, don't be discouraged. You can work something out with them if they are willing. It's common for sellers to counteroffer, and you can always negotiate until you reach an agreement you're both happy with.
Step 6: Close the deal
The final step in the marketing funnel is to close the deal. In the real estate industry, closing a deal usually involves signing a contract and exchanging money.
During closing a real estate deal, ensure you have your set of professionals like a lawyer, property agent, and loan officer.
Conclusion
The marketing funnel for real estate lead generation is a process that begins with identifying potential markets for your investment and ends with closing a perfect deal.
By following the steps in this funnel, you can ensure that your real estate business generates quality leads that are more likely to convert into clients.
Feel free to comment below on your views about a real estate marketing funnel. We will be glad to get back to you.
1. What is the best source of real estate leads?
The world is going digital, and so are real estate investors. If you want to get leads for the best properties in your area, be active in social media property groups, websites, and TV and radio property advertisements.
2. What is at the top of the real estate marketing funnel?
The first stage is brand awareness if you are selling and identifying potential property deals if you are buying a new property.
3. How do you effectively move leads through the funnel to close deals?
Once you get potential leads, it's your time to ensure your leads understand what you offer if you are selling a property. Ensure it's about them and not you. On the other hand, if you are buying a new property, you move leads through the funnel by fetching the most appealing leads according to your budget.
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