Updated: Apr 20
What are some of the most effective marketing tactics for wholesaling real estate? With the real estate market being fiercely competitive it may seem difficult to make your mark. However, with consistency in using at least one of these strategies you should find your way in due timing. If you decide to use multiple tactics paired with a clear, concise, and complete MARKETING STRATEGY I believe you’ll succeed.
1. Drive For Dollars
What a cheap but effective way to find properties to put under contract! Driving for dollars is a technique used to locate motivated sellers or distressed properties. So the next time your driving through a neighborhood write or record with your smartphone the addresses of distressed properties. Some wholesalers even include further information in their notes such as condition of property and photos.
Driving for dollars can be an effective tactic depending on the quality of your marketing campaign. However, this is a great tool to find off-market deals in real estate investing. Be sure to qualify leads with strong negotiation and closing skills. Driving for dollars is great for house flipping, buying & holding, and wholesaling.
Referrals are a great way to acquire quality leads to your business. You can grow your business while spending less time prospecting. Let your clients prospect for you. Referrals can build your number of satisfied clients. Ultimately, word of mouth marketing is effective because no money needed just happy customers.
3. Bandit Signs
A bandit sign is a poster-sized printed sign displaying something like “We buy houses, fast for cash”. It includes your phone number as well. It’s a low cost way to get the attention of new potential clients. Ensure your sign is large enough to see, clear text with a clear relevant message, and keep it brief. Do not put your company name on the sign and do not put your name on the sign.
There are some pros and cons to this method. For example, you’ll be taking the risk of having sign taken down, go missing, and be mindful of local town officials regarding the regulations of sign placement.
4. Cold Calling
This a great tool to use in effort of driving more results to your business. It’s low-cost as all you need is a phone and a list of phone numbers from your list of sellers and buyers. Apply this method properly and you’ll eventually find high quality qualified leads that will become clients. Ensure that you are consistent with any of these marketing tactics.
5. Direct Mail
With this tactic you’ll want to make sure you have a proper business address. Next, your copy should speak directly to your audience as opposed to talking at them. When people see who you are they want to see that you’re legit. So, if possible handwrite the address from and to info on the front of envelope. A handwritten letter or envelope makes it more personal to your target client and it increases their level of curiosity. Sometimes when customers see the realtor logo they’ll disregard the letter.
Take these tips and utilize them with resilience and consistent. Perform daily activities that allow a deeper understanding into the minds of your clients. If you do this properly with consistent, can you lose? I don't think so!