Belize Real Estate Links 
| Belize Real Estate Links | |
| |
|
Real Estate Information |
|
|
|
Directionals Move Properties
One of the most effective and frequently overlooked methods of filling or selling a property is the use of directional arrow signs. I'm guilty of it myself, although usually I'm merely lazy instead of overlooking this great marketing technique. Being lazy usually costs me in terms of holding costs, especially if you happen to be in a buyer's market as I currently am. Even if you're in a hot market where everything is moving quickly, directionals will move your property that much quicker. Yes, there are numerous other methods you can use such as: flyers in the neighborhood and large stores and shopping malls, ads in the large and small papers, listings on the internet, listing with a real estate agent, calling real estate agents to inform them, mailouts to apartment complexes, yard signs with flyer boxes, open houses, calling loan officers, emailing your buyer list, etc., etc. (I have one friend use advertises her properties on the cable preview channel and she says it works great. Unfortunately, that option isn't available in my area.) Why Do Directionals Work So Well? Directional arrow signs work well for a number of reasons. First, they are targeted to the neighborhood where the property is located so the folks who will actually see them are the buyers or tenants who are already driving the neighborhood looking for properties. The second group of people who will see the signs are the residents who already live there. Many times the nearby residents will have family or friends who want to move into the neighborhood. Flyers delivered to the neighborhood will also accomplish the notification aspect that there's an available property, but what flyers don't do is lead the prospect or prospect's friend straight to the front door. Why Not Just Use Typical Bandit Signs? For those that don't know, bandit signs are the road-side signs that many people utilize to advertise their business, favorite politician, and/or properties for sale or lease. The signs come in many colors and sizes, some professionally done and some hand-written. The nickname bandit signs stems from the fact that many municipalities have sign ordinances that prohibit their use or restrict use in the public domain or right of way. The primary weakness of typical bandit signs for marketing a property for sale or lease is that the sign provides a little information (often impossible to read while driving by) and a phone number. If I'm out looking for properties today, I don't want to leave a message or turn around to go see what the sign said. I want to drive by NOW, not tomorrow, not later today, right now. How is a Directional Arrow Sign Different? Who said anything about one directional sign? I'm talking an entire series of signs that leads the prospect from the main thoroughfare all the way through the neighborhood to the driveway of your property. There's no thinking, major squinting, turning around, or phone calls involved here. "Oh, honey, turn there quick." Then it's "look, there's another sign, turn there." etc., all the way to the property. Then, of course, there's more information including contact numbers available at the property. Okay, So How Do I Implement This Technique? Here's the way I do it and you should tweak it and improve to suit you. When a property becomes available, I study the neighborhood and determine the "best" ways to lead prospects to my property. By "best", I take into consideration ease of navigation, neighborhood amenities like parks and schools, and surrounding properties. If there's a back way into the subdivision or location, I map out both paths. My target locations are every single corner that my prospects will need to turn in order to get to the property. If there's a really long stretch without a turn, then I might need a directional arrow in the middle of that stretch to keep them coming. My experience has been that I will have to replace signs within the neighborhood only a few times, but I have to monitor the signs on the major roads and replace them fairly frequently. However, these signs tend to stay put much longer than a traditional bandit sign. Then I simply go door-knocking and ask people if I can place a small directional sign in their yard. I intentionally do this during the day to miss folks because I'd rather not get involved in lengthy discussions about the property and I've got many doors to get to. Once I'm sure no one's home, I leave a letter in the screen door or someplace where it will be easily seen. I drop this letter at all four houses on each corner on the route. What Does the Letter Say? I've found it's important to NOT come across as a real estate investor or a company. I use an informal style and simply ask for help in finding someone to buy or lease my property. Points that I include in the letter are:
The end result of this effort is that perhaps I pay out $160 to $200 in referral fees, but I have to run my $50 to $150 worth of weekly newspaper ads many, many fewer weeks. It definitely pays off from a monetary standpoint. The other benefit is that I now have a list of folks near each property (whom I've never even met) who think I'm great. Every single person will call me back after receiving their gift to thank me and the large majority volunteer that I'm more than welcome to do this anytime I need. What Do the Signs Look Like? The signs I use are basically the standard bandit signs cut in half. A normal size bandit sign is 18" x 24" and I use 9" x 12" signs for my directional arrows. I have a red directional arrow that takes up about 5 inches of the sign, leaving the bottom 4 inches blank. Within the red arrow I ask the sign company to put my message which could be "Owner Finance" or "Lease Purchase" or whatever you prefer. The message is easy to read. In the blank space I use a large marker to write the property address. It's important to leave enough blank space below the arrow to write the address in large numbers and letters. Also, as I mentioned above, I include the "owner permission" tag line on top of the arrow. I buy 36" wooden stakes from Home Depot and attach an arrow sign to each side of the stake so the information can be seen coming and going. If you don't have a source for these signs, please contact BanditSigns.com to get some. They're inexpensive and well worth the cost. I hope you'll add this tool to your marketing techniques and discover the same success I've had in using it. You may find that you abandon many other advertising tools you've been using in the past. Sincerely, Tim Randle (c) Copyright 2003, All Rights Reserved. About The Author Tim Randle is a full-time real estate investor in the Austin, Texas area. For more information, please visit his web site at http://TexasRealEstateClub.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
How To Give Yourself A $20,000/Year Raise Without Asking Your Boss Why without asking your boss? Two reasons, one, he or she will most likely say no; and second, he or she will probably have you committed for asking. So what do you do. Buying and Selling Distressed Houses for Maximum Profit (Update) If you want to become a real estate investor, find a "fixer-upper" owned by an anxious seller. Finding distressed houses at bargain prices, fixing them up, and then selling them on a consistent basis can make you a multi-millionaire. Hassle-Free Homebuying Perhaps you'd like to take advantage of today's great buyer's market in housing but feel a little intimidated by everything that's involved.You know the routine: finding the right locale and the right house; negotiating an agreement; putting together a down payment; and selecting the best mortgage available. Selling A Home - What Attachments Stay or Go? The home selling and buying process can be confusing. This is especially true when it is a FSBO (for sale by owner) operation. Home Buying Checklist - Windows If you are in the market to purchase a home, it can be easy to fall in love at first sight. Do so at your own risk. Building Your Dream Home - Part 1 For most of my adult life I had thought about someday building my Dream Home. Several years ago I finally got the chance. Sell Your Income Property For More Selling income property isn't like selling a house. You can paint a house, and get a little more because it looks nice. Expenses of Home Ownership Hopefully all goes smoothly when you purchase your home. In your anxiousness to become an owner it may not have crossed your mind and no one tells you, your'e not done spending money on this transaction. Flipping or Fixing Houses for Profit Many real estate investors make $5,000 to $10,000 or more by flipping houses. These investors buy a home from a distressed seller and resell it quickly for a profit. Investment Property - Leveraging Rental Property Equity Owning investment property is a tremendous wealth building strategy. Thousands upon thousands of individuals have amassed great wealth by investing in rental properties. Investing in Real Estate & REITs Real estate investing runs the gamut in terms of risk and investment success. The first rule of real estate investing, even before location, location, location, is be very careful with whom you are dealing. Home Selling: Making It Easy On Yourself! It's a dream for many to buy and take ownership of a home. It's something one aspires for in their lifetime. Real Estate Investing - "The Neighborhood Factor" Real estate investing can be a dream career when the process of buying and selling is mastered. The biggest challenge in real estate investing is not the money to get started or the availability of the product. Internet Battleground for Future of Residential Real Estate Real estate agents are gearing up to face the biggest shift in their industry since it's beginning. No longer the first in the path of homebuyers and sellers, agents have gone from top feeders to the bottom feeders with real estate consumers in just a few years. Customer Service - The Real Estate Revolution Traditionally, real estate has been viewed as a sales industry. But perceptions are changing. The Great Real Estate Bubble Quiz You hear it asked on the radio, in the newspapers and on TV."Are we experiencing a value bubble in real estate and is itready to burst?"Do you have an answer for that question? Do you have a guess?Yes, I know the so called experts are lining up on both sides of the question. Buying Foreclosures - Knowing Why Helps You Buy One big potential deal-killer in buying foreclosures is the homeowner. If the homeowner does not trust you, buying their home (even at a foreclosure auction) can become a greater challenge. Boom or Bust For those looking to invest in the real estate market?keep your eyes on the headlines. According to the Federal Deposit Insurance Corp. Moving On: Powerful Tips For Selling Your Home Maybe you're moving to a larger home to accommodate a growing family, relocating for a new career opportunity, or purchasing a townhouse for retirement. Whatever the reason for the move, you'll need to take the necessary steps to sell your home for the best possible price, within a reasonable amount of time. Real Estate Local FAQs. There are many frequently asked questions and any local real estate area. In our area here at the local Delaware Beaches, the most frequently asked questions are how to get a good deal and if there are any fixer-uppers available.
|
| home | site map | Colorado Log Homes | Homes for Sale in Denver Metro |
| © 2006 |
