Finding Real Estate Buyers and the 3 M’s of Marketing
If you had asked me a little more than a year ago, people were asking me how do I find motivated sellers and great real estate deals, but the questions have changed recently. Now the questions I am being asked are about how to find buyers.
Great real estate deals are out there in the Multiple Listing Service, from motivated banks and lenders and of course from motivated sellers. So, the question now is how to find the buyers for deals.
I am a huge fan of the marketing genius Dan Kennedy and in his book, “No B.S. Direct Marketing”, he talks about the 3 Ms of Marketing. He defines them as Market, Message and Media. So, let’s take a look at how these related to finding a pool of ready and willing buyers for your real estate deals.
First, the market. In my opinion, you need to be growing your pool of people that can buy if properly motivated. You want to focus on the people that can get loans or have the cash to purchase your properties. Going after people that are seeking no money down deals with horrible credit just doesn’t make as much sense as it did when lenders were giving away money to anyone with a pulse.
Second, the message. In this current market I especially think you should be selling a superior property, superior terms and/or at a great price. So, the message you use in your marketing needs to reflect that.
Lastly, you should be using appropriate types of marketing media to reach your target market with the right message.
In the Learn To Be Rich game, I teach people how to use various types of marketing media to find motivated sellers and you can learn quite a bit about how to take those same strategies in the game and use them in the real world to make money in the real world.
By James Orr