Okay, so in all honesty, I want to share something that I’ve talked about before…
Thing is, it’s so important, you just can’t hear it enough.
I feel like I go back to this all the time, but so be it: Everything – a.k.a. your success in this business – boils down to marketing.
This is the marketing business.
If you’re struggling, it’s because you’re not doing enough marketing… which means you don’t have enough leads… which means you’re not talking to enough sellers… which means you’re not making enough offers.
You need a marketing plan.
Let’s say you want to make $10k/month. And, we’ll say you’re making $5k per deal. So you need 2 deals a month. (Keeping in mind, you can’t really control how much you make per deal.)
And, let’s say it takes 40 leads to do 1 deal. (Keeping in mind, you can’t really control how many leads you’ll get.) So, 80 leads a month for 2 deals. This breaks down to 4 leads per day.
Now, let’s break it down even further:
- 40% of your leads come from direct mail
- 30% of your leads come from Zillow and Craigslist — texting, emailing, and calling
- 30% of your leads come from the MLS or band signs
What does that look like?
- email and text 30 landlords and FSBOs a day from Zillow and Craigslist
- send 20-30 handwritten yellow letters a day to rentals on Zillow, evictions, probate, divorce, etc.
- mail 500 postcards a week to high-equity lists
- email 10 Realtors a day soft-pass offers from older MLS listings
Sure, that’s a lot of marketing. But know what happens with a lot of marketing? You start getting a lot of calls… which means you start talking to a lot of sellers… which means you start making a lot of offers… which means you start doing a lot of deals!
There’s another big factor here…
You must keep track of your numbers. It’s the only way to hold yourself accountable. If you can’t do it yourself, have a friend or a mentor hold your accountable. An accountability partner.
Know your numbers so you can adjust your marketing plan accordingly to be able to maintain consistent market.
You must market consistently.
Talk to at least 5 sellers a day.
Those are the basics, people.
Use a marketing plan and track your numbers. Get to it.