Read an interesting article by Ben Innes-Ker about creating a real estate marketing plan, so I decided to finally put it on paper. I’m one of those who has been “getting started” for about 2 years now. I know the techniques, but I now realize the reason I haven’t done a deal is because I have been focusing plenty enough time on learning techniques and not nearly enough on marketing.
Only things I’ve really done marketing-wise up to this point is order business cards, bird-dogged about 60 or so uglies and mailed “yellow letters” to them, and about 6 months ago I put out 50 bandit signs that got me a few calls but no deals. I now realize one thing, that little paltry campaign isn’t even a drop in the bucket compared to what I need to be doing, if I want a steady stream of motivated sellers. So I made the decision to either f’in do it RIGHT or sit my arse on the porch.
So here goes. Keep in mind I live in the DC area and work a full-time job. I plan on doing most of the grunt work myself until I get a deal done, and have a budget of about $1,000 in cash, and about $15,000 in available credit (if needed) to get started with. Tell me what you think about this one-month plan:
[b]Goal for total number of leads generated: 46
Number of “prospects” needed to reach goal (both interested and not interested): 28
Goal for number of qualified, interested sellers: 14
Goal for number of appointments made: 6
Goal for total number of deals signed up: 2
Average net income from each deal (cash): $5K
Goal for total net income (cash): $10K
Plan to generate required number of prospects needed:
- Create a basic website to capture application info
- Mail 25 letters/postcards a week to expired listings
- Mail 25 letters/postcards a week to out-of-town owners
- Mail 10 “yellow letters” a week to existing supply of ugly house owners by skip-tracing the ones that were returned-to-sender from prior campaign
- Mail 20 letters/postcards a week to 1st notice of defaults (hire a title abstracter to pull data)
- Drop 125 flyers or postcards a week in targeted zip codes
- Hand out/drop 10 business cards per day
- Put out 10 bandit signs every weekend[/b]
Feedback please! Any glaring items I missed? Too agressive? Not aggressive enough? Realistic? Unrealistic? Are my numbers anywhere near the ballpark? How much money can I expect to spend in order to execute the plan to generate the number of prospects needed?
Thanks for the feedback,