myEmpirePROWholesaling real estate in the ever evolving digital and information age requires a few shifts in the way you advertise.
There are 7 hacks that I go through in this lesson that you need to pay attention to.
Read this in its entirety for a break down that will multiply your business super-fast.
Below is a question for us to address with this lesson…
“I don’t understand what the issue is!
Yesterday, I created my Facebook ad and when I checked it this morning it shows that there are 119 clicks but no one left his info on my carrot page.
Could you help me with this?”
Enjoy the video.
Wholesaling Real Estate In the Digital Age Via Social Media
(1) Dual-OP
Most businesses have to focus on generating one type of lead and converting then to sales.
Wholesaling real estate in the information driven era is different; it’s “Dual Op.”
What does that mean?
To complete and close a complete wholesale transaction as a wholesaler, 2 types of prospects would have to be involved.
- A seller
- A Buyer
It’s a dual lead generation operation.
Back in the days, there weren’t 500 new wholesalers joining the business every day.
Therefore all you had to do was to focus on generating seller leads and there are more than enough cash buyers to assign to.
Subsequently, cash buyers didn’t have so many options.
Therefore they paid up to 75% of the ARV (the after repair value of the property; it’s quite different now.
The business model needs more options when it comes to able and willing buyers for all the lead contracts being locked in.
So if I were trying to become a wholesaler today, I would not join mass of others for seller leads generation.
I would focus on buyers lead generation because it’s just cheaper,
…and less saturated with competition from other newbie wholesalers who are basically cold calling and reaching out to same lead.
An average average buyer lead will cost you $2 – $5 per lead while and seller leads cost $50 – $$500 per lead
…depending on your marketing strategy.
…covered in full details in our audio-book,
Smart Real Estate Wholesaling… available on Audible and as a free PDF here.
When you focus on generating buyer leads, you are now creating value for leads that will potentially buy over and over again….
Unlike seller leads… one time business opportunity.
(2) Clicks
The smallest unit of any digital marketing is clicks.
So basically, clicks are what makes a website useful and the more of it you can generate, the more you can cover to leads and,
Subsequently into deals.
Clicks essentially represents people that are clicking on your ad because your offer represents a potential need to them.
So with the business of wholesaling in real estate, as I mentioned earlier there are types of prospects.
- The sellers
- The buyers
A motivated seller in need to sell now would generally search this phrase “sell my house” or related phrases into Google.
If you placed an ad targeting that search phrase on Google, it will cost you an estimate of $44.83 each time a prospect clicks on it.
A interested investor buyer would search phrase “how to invest in real estate” and other related phrases.
Targeting that phrase with an ad will cost an estimate of $5.82 (an 87% decrease in cost of marketing).
In addition to that, the value of a buyer lead is a lot higher than a seller lead because they can buy more than one product and houses.
So right now, it’s quadruple loss when you focus your hard earned money and hard time on generating seller leads.
- Lower cost per acquisition
- Lower saturation and competition of other wholesalers
- Higher and longer term clicks value
- Added Value to other real estate professionals and wholesalers
… many of whom are stuck with contracts.
A broader, geo-location or interest based targeting like the ones you setup on social media will cost less because the prospect was not searching.
There is a wide and significant opportunity for the grabs that will never be saturated.
You are just ONE SKILL AWAY for an unfair advantage.
So why wasn’t 119 clicks enough to turn into a deal?
Not all clicks are created equal.
Therefore targeting, campaign management, killing losers and scaling winners skills are important.
When you do it right, eventually one click will literally become on deal but that means the ad targeting has been optimized.
(3) List Building
The 3rd hack is to ensure that you increase the value of the clicks coming into your business by capturing them into a list.
Once you do that, the click is now said to have converted into a lead.
That list you are building is the most valuable asset in our business next to your time.
Properties are lower on that scale of importance in your wholesaling real estate business.
(4) CPL, CPA & ACR – Tracking success Wholesaling Real Estate in 2000&DIGITAL
This stands for cost per lead, cost per action and action conversion rate.
Every time a prospect clicks to your website, a click is counted.
But as I recommend earlier, you must be capturing these attentions into list; that’s when a click become a lead.
A lead is another step closer to deal.
Your goal is to covert 10% or more of your clicks into leads
That would also mean that they are subscribed to your list.
That list is an asset that you can make multiple 6 figures income serving even if you never close a deal.
However that’s only applicable if your focus is on buyer leads generation.
Sellers are generally looking to get rid of a camouflaged liability, a property, as fast as possible and never talk to you again.
(5) List Monetization in Smart Real Estate Wholesaling
Now that you are driving clicks of potential buyers to a landing page and building a list, what next?
You an leverage affiliate marketing to monetize the list as you go.
What is affiliate marketing?
Affiliate marketing is the process of earning income every time you promote someone else’s products or services.
Neil Patel
There are tons of digital products related to real estate that you can offer your subscribers to offset the cost of marketing..
But to also fuel scaling out your marketing operation.
That’s one of the major features of Smart Real Estate Wholesaling as a business model.
(6) JV Deals
So you are probably wondering…
“How do I get sellers?”
Never mind sellers.
How about pre-qualified motivated sellers and signed contracts?
When you focus on an ever growing list building and monetized operation,
It only makes sense that other wholesalers will beg you to help dispose deals and contracts and they otherwise couldn’t.
There will be buyers on your list for the deals that many wholesalers are posting on Craigslist and Facebook marketplace.
If they weren’t struggle to assign to a buyer, they would not be posting this deals on a public classified ads sites; The deal would be gone FAST.
You can help dispose deals as a JV (joint venture) deal; the cheapest form of marketing that the gurus don’t want you to know about.
TIP: Don’t message or call other wholesalers about their deals unless you have pre-qualified your buyer who is very interested in the location.
(7) Storytelling
In the new business environment that we are all in today, people have choices at their finger tips.
Therefore E.A.T is a key factor in how profitable you will get with the future of wholesale real estate.
E.A.T stands for expertise, authority and trust-ability in your brand; essentially, a personal brand will increase your value.
People buy and do business with people and brands they feel like they know, like and trust.
That very need is continuing to increase in intensity as we move into the era of artificial intelligence, machine learning and data.
When you build a perpetually growing list, story telling becomes an instant opportunity to leverage along with list monetization.
It all works hand in hand.
Check out out our 11 days challenge at www.11DaysChallenge.com to start building our list and story telling for massive profits now.
