|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.
(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
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
True North Commercial Real Estate Investment Trust Announces An Increase To The Previously Announced Equity ... - GlobeNewswire (press release)
BGL Real Estate Partners Announces the Sale of Mississippi Coast Endoscopy & Ambulatory Surgery Center and ... - PR Newswire (press release)
Eight Out of Ten Millionaires Surveyed Made their Fortune in Real Estate - How?
Consider the statistic in the title for a moment.8/10 millionaires surveyed found their wealth in Real Estate.
Rapid City Real Estate Agents
Take me Back to the Black HillsLocated in Western South Dakota, Rapid City is a thriving community with many amenities to offers its residents. This city is nestled among the beautiful Black Hills, offering endless recreational activities for the outdoor enthusiast in the Black Hills National Forest.
What Does It Take To Be A Donald Trump in Real Estate?
Since you are a business oriented person, you might be thinking: "oh, great, here it comes another fad that sounds to good to be true and I don't have time for this now." Well, the fact is, like gravity you do not have to believe in Feng Shui for it to work.
How To Sell Your Home FSBO
You decide to sell your home and believe you can handle the selling process. Good for You!Of course you're a little nervous and that's normal.
Buyers Closing Cost
Buyers, borrower, closing costs can be divided into two categories. Nonrecurring closing cost and recurring closing cost.
Important Facts For Home Buyers
If you are considering buying a home or have spent many years saving in preparation of buying a home, the questions and process involved in buying a home can be extremely stressful. As exciting as it is to begin looking for your new home, there are many unexpected costs and details to be considered before contacting a real estate agent.
Should You Buy Real Estate Now
I have been seeing the market on fire for a long time and have started telling my friends, "don't buy now". No one can accurately determine exactly when it will happen, but it is definately on the way.
Finance Your Real Estate Investment Properties
Unlike traditional residential real estate mortgages, real estate investment financing is way more creative and offers more options than you think. The golden rule in real estate investment is OPM (Other People's Money).
Buying a Newly-Built Home? Ten Benefits of Using a Real Estate Professional
It might not seem necessary to involve a real estate professional in a transaction where a buyer can deal directly with a builder. However, by using a real estate professional, you have someone to protect your interests and guide you along the right path.
11 Steps Away From Buying a Home
There is no doubt that the market for houses has been on fire recently. More and more people are taking advantage of low interest rates and easy mortgage loan terms to go from being renters to being home owners.
Selling Investment Houses: Props & Profits
New Marketing and Design Psychology ideas help you stage homes for sale to motivate buyers and generate top dollar. Instead of leaving investment houses vacant, my husband and I add a few props to increase our profits.
Selling Your House - $100,000 Pets
Is your pet worth $100,000? It may be if you don't make accommodations for it when selling your home.A Hundred Thousand Dollar Pet?A house I'd seen with a potential buyer in an attractive neighborhood built around two lakes sold for $100,000 less than was typical for the neighborhood.
Selling Your Home - What Can Go Wrong With Title and Lenders
If you're selling your home, there are going to be difficulties at some point in the transaction. Some problems can't be fixed.
NARŪ Broker Will Swear It - Real Pro' Agents Share It - FSBO Truth
For posting the "Truth" on your website, some FSBO's will not like you. These prospects would not have listed with you anyway.
Property Types A, B, C And D
One of the biggest problems individuals just starting out have is the type of property they look for, and working outside their immediate area. One of the constants around the country and for every state, is that there are the most desirable areas to live and the least desirable; and then those that fall in between.
Loan Officer Training: Learn How To Shape Realtors Perceptions
In medicine, a placebo is a pill that you think will make you better, and so it does. In your business, a placebo is a prospect having the experiences they expect to have, and so they have them.
Property Investment - What Future For the Biggest Bubble of All Time?
The Economist magazine published a special report in this months issue entitled "House Prices ? After The Fall". Some might call it pessimistic, alarmist, nonsense or worse but only the foolish would choose to ignore the research that comes out of a think-tank with the kind of resources that this highly respected publication has.
Mechanics Lien on Your House
In many places you can buy a house and a contractor can put a lien on it within 90 days of construction or delivery of materials. For example if a contractor fails to pay a subcontractor he/she can place a lien against your real estate.
Mortgage Broker Training: How to Secure Loyalty From Realtors
So you've just returned to your office after delivering an Oscar worthy presentation to a real estate agent. They're impressed and ready to do business with you.
Secrets of Making Money from Real Estate - Part 3
Great, now how do I actually INVEST in real estate?Investing in real estate will get easier the more you do it. The first deal may take some time, but like anything, the more you do it the better you'll become.
|home | site map|
|© 2006 TIGER MEDIA|