You can have your goals and plans written down and have a strong belief system that you are going to be a successful property investor in place, but if you don’t know how to attract those motivated sellers, then you are going to be struggling to be successful.
Leafleting is one of the standard ways that is taught these days to find BMV properties. It is still taught because it is still very effective. The beauty of something like leafleting is that you can pin point your target very specifically, whereas if you put an advert in a local paper you can get allsorts of people calling you from anywhere locally – and beyond.
But when you leaflet you can choose to just leaflet drop 10 streets that are your preferred streets to buy in. This is good targeted marketing and it doesn’t get much better.
However just like when dealing with potentially motivated sellers it would be wise to set yourself apart from the crowd of other investors. This is especially true in this day and age when the seller most likely has a negative view of property investors in general.
Imagine every month getting 5 different leaflets through your door from property professionals saying how they can buy your property in 7 days for cash and how there might be an option for you to still live there as a tenant – blah blah blah.
Normally the only major distinguishing factor between these leaflets is that one might be on coloured paper to make it stand out more.
If you’re the property investor dropping these leaflets, you are leaving it to chance that when the time comes they will choose to do business with you. It maybe the case that they will do business with whichever leaflet happens to drop through the door at the time they are looking at selling.
It’s a percentage game and that is why people are still successful at it. The cost of producing the leaflets and distributing them is worth it in comparison to the regular deals they get from it.
Yet, if you could just be different in someway then your conversion rate could potentially go through the roof. Let me give you a simple example of what I mean:
In Cornwall, just like everywhere else, people probably get A4 leaflets through the door on a regular basis from estate agents saying that they have sold a property recently on their street and they have people interested in buying on that specific street and for a free valuation call 0800 052xxxx. People get used to this and immune to it. Unless they really need the service at that specific time they will throw it in the bin.
But in Kensington, West London, estate agents do it slightly differently. In Kensington you get a sealed letter through your door in a windowed envelope saying something like “For the attention of the Property Owner.” Then there will be a typed out letter on headed paper saying a similar thing to what the leaflet in Hull says, but in a neat letter format.
Now do you think if the estate agents in Cornwall changed what they where doing and did it the way they do it in Kensington, that it would make a positive difference to their conversion rate? Yes, it most likely would. They would be distinguishing themselves from the crowd, in a positive way.
Remember, what do you think happens in Cornwall to most leaflets that come through the door? Yep, a quick glance (if your lucky) and straight in the bin. But, if they got a letter through the door addressed to the property owner, then they might be more likely to read it and if they are planning on selling sometime in the near future, they are much more likely to hold on to it, instead of the other leaflets that all look the same.
Be different. Be unique. Find your own voice in the location you are targeting. Be the most prominent at what you do so that you are the first names on people’s lips if they are looking for the sort of service you can offer.
Don’t just settle for the same old ways of doing things.
Now, if you live in Kensington you come to recognise the official looking letters coming through the door and you can tell straight away which ones are from estate agents. So what do you think happens to these letters in Kensington? Yep, they go the same way as the leaflets in Cornwall, straight in the bin without being read.
So what do the estate agents in Kensington have to do? Well, If they are good business people, they will spend some time thinking how to be different from the crowd.
You see, it doesn’t matter where your business is based or where you operate. It pays to understand which techniques are working well for everyone else, to implement them, in your own style, and then to try to improve on them and be unique.