Although there are many marketing options you can use to find motivated sellers, there is a lot of power in using a first rate newspaper ad to jumpstart your search and your real estate investment business.
Here a few things to consider when creating a first rate newspaper ad well as the type of advertisement you should use.
Target Your Market
Know Your Audience
Know who your audience is and find out as much as possible about the problem they are trying to solve and the reason they may be motivated to sell. Include details in the advertisement that immediately address the solution to their problem and top it off with an attention grabbing headline. Many beginning real estate investors neglect to do their homework with this step and then muddle up the ad with unnecessary graphics and way too many specifics. Make sure the ad is simple and right to the point, and remember to test, test, and test again.
Be Aware of Timing
Keep up on the market conditions in the community where you want to invest to try and determine the best time when people may be motivated to sell. In general, more people read the weekend edition of the newspaper which costs more to advertise, but you may also find motivated sellers by advertising during the week, depending upon the market you are trying to target.
One Time Will Not Produce Results
Just like maintaining consistency is a rule of thumb in your real estate marketing plan, you must carry this conviction over to your newspaper advertising. Keep in mind that advertising one time is not going to do the trick. You will need to position your advertising budget to place more than one ad and then repeat this process on a consistent basis. Be sure to have a strategic plan in place for placing the ads so that you can measure the results and then tweak as needed. This includes experimenting with different headlines and varying content within each ad you create. As with all of your marketing strategies, keep track of what works and what does not work as well. This will save you a lot of time and money with your future marketing efforts, as well as provide you with a continuous flow of motivated sellers.