Wholesaling Marketing: New Survey Reveals Investors’ Mistakes
A new home buyer survey has unveiled evolving shopping habits and some of the most important deciding factors, opening up questions as to whether many investors are getting their wholesaling marketing right or not.
While many wholesalers may focus more on selling to other investors than retailing to regular home buyers, the 2012 National Association of Realtors survey raises essential questions about whether marketing efforts are moving in the right direction and even if the right properties are being sought after.
This recent survey confirms that 90% of home buyers are still turning to the web to assist with their property searches, but shows some surprising stats about which sites buyers are house hunting on.
The overwhelming majority continue to utilize Realtor and MLS websites, with barely 10% looking at FSBO sites and only around 5% turning to newspaper or real estate magazine sites. So wholesaling marketing through the MLS may still be a smart move, even if it costs money.
When choosing who to buy from or through, 40% said they relied on referrals and only 6% from open houses or yard signs. Only 10% of home buyers bought from the same real estate agent they had used before – meaning plenty of room for investors to make an impact – suggesting either an extremely low level of customer service or poor follow up in the industry or both.
Perhaps most importantly of all, this survey revealed what today’s home buyers’ priorities really are when looking for a new property. This is not only important for wholesaling marketing strategy and content, but even to help guide real estate investors to acquiring or seeking out the homes which can be flipped the fastest and for top dollar.
So what do buyers want? When choosing where to buy a home, respondents said that ‘neighborhood quality’ was the most important factor. This ranked as even more important than commuting distance, convenience of location, affordability and closeness to friends or family. So as an investor, are you focusing on the right neighborhoods to be able to turn around properties quickly? Is your wholesaling marketing focusing on the right triggers and promoting the right benefits of the location, versus just being cheap?
For those serious about their marketing and flipping houses, these elements apply from not only where to advertise, but the copy in advertisements and the text used in everything from PPC ads to keywords for SEO and emails.
Perhaps most importantly, this is all a reminder not to rely on rumors or just what you might personally perceive to be important to today’s home buyers. Watch trends like this and don’t ignore the hard data. This will keep you on track with your wholesaling marketing, acquisitions and ahead of the competition. Investors must tailor their marketing to meet buyers’ current shopping habits, biggest fears and desires and keep an eye on the direction they are headed to stay alert to emerging trends as it is easier to compete from being on top versus fighting your way up from the bottom.
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