Update on TV Commercials.
I just started running TV coms for one month. A total of 210, 30 second spots on day time tv, Tues thru Fri. I get call every days ! In one week I have more than 40 leads and now am working over time to research. No obvious home runs at this point. The coms have run 7 days so far. Total cost 900 bucks. One old guy called has many commercial properties paid for, wants them sold on contract. Looking at a 19 plex of his tomorrow. Other investors are calling wanting to unload their dogs too. 14 short sale ops from two owners, looking at his 150 acres w/spec house today. Double close op, have buyer for it now.
I vote to repeat the coms next month !!!
Update on TV Commercials.
I’m glad it is working for you.
How would you describe the overall market in the locations where your ads are running?
And are you on cable, broadcast, or what? And approximately how many people are supposedly seeing the ad?
I tested a TV commercial on cable for a month at a cost of $2,000 (I think this was for 160 spots), but I got only one call. I think my mistake was that I chose too “good” a market. I picked the market right where I live, which is pretty strong. I really wanted to work closer to home…
I think if I had run the ad in a market that is a little weaker, especially in one where I’ve had recent success, it could have worked.
I know that a one-month test is not really enough, but I also know that one phone call for $2,000 is ridiculous.
Do you have your commercial on the Web? I would love to see it.
I think part of the success he is facing is due to the fact that his commercial is running around 10 times a day, so it is leaving an impression on people.
Cost wise, if he closes on 2 deals then it has competed with other traditional methods (assuming $2k marketing cost per deal).
It is running on a regular TV channel. Fox 39 here in Oregon. The market area here has been hammered since July 06’, as if some one turned off the faucet. I chose not to do cable , figured regular channel would do better. The town here is about 90k in people and about 45 thousand dogs and 4 cats. The total cost was 900 bucks on a teaser rate with the local station, it is now 1200 bucks for the same teaser. I also run adds in the papers and will be changing them to do better. Another guy called today with 6 non performing properties. The market has dropped so much that one property looks like this: owes 425k on market for 438k, is worth 290k. The other 5 properties looked real similiar. So far these are most of the calls I’m getting. Looked at 150 acres w/spec house for 2.2 million, owes 1.6 will be making 0ffer on that next week, he is 3 months behind on 13k a month payments. OUCH !!
I think you’re right about finding one broadcast channel and just owning the ____ out of it. The frequency is clearly helping.
You’ve inspired me to see if my local FOX station will do something like that for me, but regrettably Atlanta is a big market, so I doubt it will be cheap.
I am very happy for you that you’re getting some traffic. It’s nice to know that it can work.
Do you have a plan to recoup some of the TV cost by selling the leads or possibly referring them to a Realtor who could take on the listings?
P.S. 45,000 dogs and only 4 cats? I think I’ve found my next home…
Didn’t really think of selling the leads… but I did turn over 5 listings to a realtor on the team. He signed them all up. I sure there will be something extra in my Christmas stocking.
I have focused on the local news channel which is the most watched…I think. 3 weeks ago I put a sign on the back of my truck and still havn’t recieved a call from it. In about two weeks I’m going to start offering 50-100 bucks a month to people with shops, fences,garages on main roads, in order to install "sell or Lease your home Today " signs. I realized that it is addicting to recieve phone calls from motivated sellers. I’m glad I’m addicted to Real Estate…
I have a copy of the com…having trouble copying to computer…must…have…fix…
If you want to email me the file I can host it on my website and post a link up here. Also, youtube might work for it.
The disc fox gave me will not download to my computer, I have requested one that will. Also I went and looked at a 17 plex today. I have not purchased a multi unit before, thought maybe you could help. I am collecting info still but appears to be a dog. First built in 1897, building permit cost was $6.50 ! Used to be 40 room hotel converted over the years, built of stone and brick and covered in metal shop siding. Looks bad.Needs repaires, Good manager w/all repair skills, has done good remodeling (slowly) over the years.
Seller owns free and clear, is old, will take contract. He is extremely wealthy and this is an old turd of a building he can’t seem to unload. Asking 225k. Rents total 4100 a month less vacancies, landlord gets 1k a month plus free rent=16 plex, taxes 2400, owner pays sewer, water,garbage,insurance, getting those numbers soon. Insured for 529k though…
Impressive response rate—I’d hold off on running it again though until you have conversion piece down…