Advertising is an important part of growing a real estate investing business.
And while Facebook ads and Google ads are most effective for finding buyers, you can also use those platforms to find motivated sellers.
Of course, it’s not usually as simple as just putting up some advertisements and letting the leads roll in.
The first thing you need to understand is that, because of your business model, you can afford to spend more on advertising than most other businesses. If you make $10,000 to $20,000 per deal, for example, then it’s not such a bad thing to spend $2,000 to $3,000 per deal in advertising costs (of course, you want to get that number as low as possible).
(Carrot has a free calculator you can use to figure out how much you should be spending on advertisements)
Once you know how much is reasonable to spend on ads, here are some ideas for finding motivated sellers on Facebook and Google.
1. Facebook Retargeting
Perhaps the most effective strategy for finding motivated sellers on Facebook is to skip the “finding” part altogether.
If you add the Facebook pixel to your website, then it’s really easy to retarget visitors with Facebook ads, even if they didn’t give you their contact information.
It’s a way to follow up with people who didn’t opt-in on your website, and since they visited, it’s safe to assume that they have some degree of interest in your services.
We talk a lot about the importance of following up with people.
And this is a non-invasive, easy way to follow up with website visitors who might become leads in the future.
2. Google Ads For Key Phrases
Ideally, when someone searches for “sell my house fast in [market_city]”, “professional homebuyer in [market_city]”, or some other high-value phrase in Google, you want to be at the top of the page.
And while SEO is a strategy that you should definitely keep chipping away at, it’s not going to get you results overnight.
But you know what will?
Bidding for Google advertisements that target the exact phrases that you know your target market is searching for. And if you think that no one clicks on Google ads, think again: Google ads receive 65% of the clicks from buying keywords and organic results only get 35%.
In other words, people are perfectly happy to click on advertisements when they’re ready to take action.
Study your competitors, see what phrases they’re targeting, research their title tags and meta descriptions, and then craft some Google ads of your own.
3. Lead Magnet Promotion
We’ve talked about retargeting website visitors on Facebook and running ads for high-value keyword phrases in Google.
But what about just cold, hard motivated seller lead-gen?
Is there a way to generate high-quality leads with paid advertisements?
Well, one thing you could certainly try is to run a generic “sell my house fast for cash” ad that targets your ideal demographic. In general, that gets mixed results for real estate investors.
If it’s ineffective for you, then you might consider trying a “lead magnet” instead.
This is a free resource you create that’s built to attract motivated sellers and get them to opt-in to your email list. Here are a few examples of eBooks you could create…
- 10 Tips For Fixing Up a Home That You Inherited
- 10 Lessons I Learned From Going Through Foreclosure
- 10 Ways To Get Top-Dollar On Your Outdated Home
You give that resource away for free but, in return, people have to give you their email address. You can then follow up with those new leads and build an email list of people who can turn into deals at some point down the road.
But enough from me…
How do YOU generate leads for your business with advertisements?
Let me know in the comments!