If you want to be successful at house flipping, you have to learn a little about marketing and specifically about real estate marketing. To flip amazing properties, you have to go out there, find them, and get them, but finding and buying houses is not the only element if you’re going to flip houses.
On Flip or Flop, we focus a lot on the rehab part. In some ways, that’s the most fun part of the whole process, and it’s the part that really sets us up for profit. But finding and rehabbing houses is only the beginning of house flipping. Once you’ve done all the hard work, you have to market and sell your houses if you want to see a return on your investment (and, of course, you do).
1. Your Real Estate Marketing Strategies are Stuck in the Past
So, whether you’re working with a realtor, you’re doing a by-owner sale, or you are a realtor (like us!), you’re going to need to do more than list your properties and put a for-sale sign out in the yard. Unfortunately for a lot of investors, the realtors they work with are stuck in the past with their real estate marketing strategies.
Instead of taking out ads in newspapers and magazines, you need to focus on online marketing. By using a search engine optimized website and social media marketing, you can attract a lot more leads to your property without spending any money (or very little) on advertising.
2. You Haven’t Properly Defined Your Target Audience
Even if your real estate marketing is online and up to date, are you using it properly? Have you defined your target audience? You’re not going to do yourself much good if you’re advertising to teens or families that have recently purchased their dream homes. Define your audience, figure out where they spend their time online, what publications they read, what TV shows they watch, and as many other details about them as possible. Then target them in the places (both physical and virtual) that they frequent.
3. You Don’t Have a Website for Your Properties
This is a no-brainer, but a lot of people who flip houses don’t set up websites for their businesses. A good website can advertise the amazing work you do. You can actually cater to both the people who want to sell their homes and to the people who want to buy newly rehabbed homes in your area.
4. Your Website Isn’t Mobile Friendly
Just having a website isn’t the end of your online real estate marketing strategy. You also need to make sure your site is mobile friendly. When a potential buyer sees one of your flip houses, they’re likely to pull their phone out and search for you online, right then and there. A responsive, mobile friendly site will give them the information they need to get in touch with you and schedule a time to see the house. A non-responsive, non-mobile site is a huge turn-off.
5. You’re Not Taking Full Advantage of Social Media
And, finally, what are you doing with Facebook, Twitter, and/or Instagram? Social media is a hugely powerful tool for real estate marketing and house flipping. Regularly posting pictures of the gorgeous houses you have listed and interesting things about the market and about flipping in general will keep you on your leads’ radar.
Now you should have a good idea of what’s not working for your real estate marketing and why. Just make a few adjustments, and you’ll be selling as well as Christina and I do in no time!