Real estate has been a really competitive industry nowadays. We all witnessed the global meltdown which occurred around a few years back, right? Well, the industry which contributed a lot towards that is the real estate industry. So, after the meltdown period was over and the global economy was slowly regaining its foothold, it became a hard time for the real estate investors and the agencies to find a strong footing in the industry. Things which were earlier a lot easier stopped being that way, and people had to perform their best so as to survive in the market. To summarise things up, let’s just say the real estate business became extremely competitive, more than it was already.
This write-up is not to dissuade you from becoming a real-estate investor. On the contrary, the fact is that real-estate business has almost got back its former glory. So now would be a high time to rethink that decision of yours about investing in real estate and take a part in the great game. For those who know how to play things right, real estate is a business with heavy returns.
If you are a new start to the real estate industry, the trick is to market yourself properly. While word of the mouth is good, the best way would be to actually invest a little money on marketing yourself. That way you can be sure that your name reaches people, and that you will be making a little name for yourself. If you live in a town and you know for a fact that not all the residents of that town know or recognize your name, know that your marketing has not been as successful as you would want it to be. Channel your energy and draw up a feasible marketing plan so that when people pass you by along the aisle of the local grocery store, they would point you out to be the real-estate guy. That’s how you build the initial reputation.
You may also start by investing in problematic estates. This usually takes a little extra effort, but comes with high returns because not everybody takes the risk of acquiring these properties. Once you succeed in executing one investment correctly, sellers will call you since it ensures the spreading of your name. The thing is that you have to try out things initially in order to figure out what works and what doesn’t. You won’t hit the bull’s eye in your very first attempt, but with practice you will get good at doing stuff the right way. That is guaranteed.
As a guide, here are some marketing tricks for your perusal:
- ‘Freebie’ Paper Ads:
Running advertisements in the freebie local papers is always a good idea to start with. No matter what they called in your locality, you can run both a display and a column ad in the newspaper, on a monthly basis. This makes sure that your ads grab a lot of eyeballs and the cost for the entire exercise is also reasonably cheaper. Moreover, with these ads you can actually haggle with the rates and you are more likely to get a better rate if you run the advertisement for a longer period of time.
- Putting up Road Signs:
These are great marketing techniques, and probably the best advertisement tools you can come up with. After you have put up a bandit sign, you will probably be bombed with calls straightaway. The longer you keep them up, the more calls you will get. They cost, on an average, $4.00 per sign or even less. So you need not fret much about the cost. You can check the manufacturers’ sites for even discounted rates. Put them up in crossings which experience high traffic and you are sure to get a lot of seller leads.
- Classified Ads:
Then there is always the classic advertisement in the most renowned newspaper of the region you live in. While this is costly, it is a time-tested way of getting famous. It is true that it doesn’t work all the time, but persistence is the key here. Keep at it and you are sure to reap the fruits after a short while. People are more likely to take you seriously after you have run the advertisement for a few months, and then the calls will start. Once it starts, it becomes really hard to keep up.
The cheapest way to get word around. It is one of the simplest ways of spreading the word and your name, and one of the most popular ones. They might not be as prominent and eye-catching as the road signs, but sticking them up here and there around town does fetch in a lot of phone calls.
- Promotional Items:
These put you up at a level which is definitely a notch higher than your peers. People will know that you are not the average investor. These may not reach out to a lot of people, but it surely ensures your popularity although to a niche market.
If you are thinking of investing in some other country, Heidelberg should be a good place to start with. The place is beautiful. In fact, it is touted to be the most beautiful city in Germany what with the beautiful Heidelberg Castle, the mountains and the lake. Germany is one of the very few countries in Europe currently whose economy is still running strong. The city is a major tourist spot, with a lot of vacant properties which are ready to be bought. The immobilienmakler heidelberg has are very helpful and it is advisable to take their help. That way they will be able to guide you properly about the taxation system and the other formalities that you have to go through before you successfully invest in a property. Because it is a different country, the rules also differ. So taking the help of a local agent is the smarter way of going about doing things.