In the real estate business, wholesaling serves as an exit strategy that suits different investor personality types. Beginners looking to venture into real estate may quickly start wholesaling because of its shortest completion timelines. Additionally, it helps beginners learn more on real estate business. For the experienced investors, wholesaling serves as a great fit making profits in a short time.
At its core, wholesaling is all about selling a house to another buyer. The buyer is probably another investor that will fix the property and either resell or rent the house. Wholesaling is slowly gaining track due to the many benefits it offers. One of the benefits is requiring little cash to start.
In today’s technological society, the wholesaling process has become easier than ever before. Moreover, technology has reduced the time taken to complete the wholesaling process. Gone are the days when wholesalers needed to market their houses by going door to door sharing their flyers or setting aside day for searching potential buyers or even looking for hard money lenders near me.
Technology has revolutionized the wholesaling process bringing in more benefits than the traditional forms. Despite technology being around us, there is a challenge on how to use it to wholesale more houses. Below, is an overview of the essential ways on how to use tech to wholesale more houses.
Mind your due diligence
It refers to doing a lot of research and strategizing before starting the wholesaling business. Search through the internet to get vital information that will help you to educate yourself about real estate wholesaling business. Here, the internet will be the ideal technological platform for you to use.
Just like any other business, marketing plays a crucial role in the real estate wholesaling business. By marketing more and at a wider area, you’ll find more deals. With technology, particularly digital marketing, you will be able to reach a big audience. Digital marketing will provide you with a marketing plan that combines broadcasting and social media networking. Through this combination, your wholesaling business is set to reach far and wide.
Build a buyers list
Coming up with a buyers list is useful and requires you to have networking skills. Yes, you can find buyers through campaigns like bandit signs and direct mails, but one of the best ways is to build your buyers list over time. Here, email marketing will be of significant help to you. A buyers list helps you to have personal connections with your buyers. Remember to maintain a running list of all the buyers you meet so that you expand your professional network in your search for real estate investors.
After you are done with marketing and building a buyers list, you will probably start getting responses. Here, you will have to use technology to capture and analyze the responses you are getting. Its referred to as collecting and reviewing analytics. There are analytics tools that you can use to capture and evaluate the responses. Additionally, you can track the mediums through which you received those responses – were they via direct mail, bandit signs, social media, or telephone?
Target the motivated buyers
Advertising platforms such as Facebook ads provide you with various options for targeting the right audiences. Since you are wholesaling, your target options can be homeowners in pre-foreclosure, absentee owners, taxpayers. Having your target set will help you design an effective marketing campaign and a successful marketing strategy.
Design a website
A website will be an ideal technological platform for your real estate wholesaling business. It’s because, in today’s technological society, buyers tend to spend more time online. Therefore, having a website serves the case. Remember that it’s not only having a site but also having a beautifully designed site with fast page loading speed. That will attract more buyers to your wholesaling business. Additionally, you may add videos to your site to bring your properties to life and carousel ads for the photos of the houses you are wholesaling.
Use social media channels to communicate
An average person spends between thirty and thirty-five minutes each day on a social media platform. Wholesaling involves communicating with your buyer and settling at a price comfortable for both parties. Social media channels will offer you with an excellent platform to communicate with your buyers as well as communicate your brand to your buyers. In the long run, you will wholesale more houses.
Use of tech for real estate wholesaling business should not be a daunting or draining task. Consider these tips and watch your real estate wholesaling business fly off.