Boosting Your Real Estate Business With Facebook

84% of the real estate agents are using Social Media to market themselves and gain more clients, according to the recent research by Postling, a leading social media management enterprise. According to the report, nearly 80% of real estate agents are using Facebook to buy and sell properties faster as well as market their practice. It is essential that you understand how to use this social platform to your greatest advantage.

How Other Real Estate Agents Are Using It?

The primary reason for the increased use of Facebook is that real estate agents can promote their brand and their listings freely, easily, and efficiently. Real Estate agents are using Facebook primarily for:

• Marketing open houses
• Notifying other agents and the public about price drops
• Advertising additional incentives

What Facebook Can Offer You?

In addition to offering cost-effective methods of promoting properties, Facebook further offers a range of new opportunities you can use to grow and cultivate a robust community of prospective buyers and sellers.

How to Use Facebook for Marketing?

The following practices will greatly boost your real estate marketing efforts:

Creating a Business Page

Social media makes it easier to make a fast and personal connection with people you meet. With Facebook, you have access to thousands of house buyers in your targeted area – and millions in your state. The platform gives you a softer way of connecting to people instead of sending them an email from your business address. Connect to them on a more personal level and in the process invite them to your business page.

Some real estate agents find that they can garner the same result from using just their Facebook profile. In the long run, this may become tedious for you and frustrating for your clients as your personal posts and your business posts might get tangled in a mess. Keep the whole process streamlined and manageable by creating and maintaining a separated page.

Wearing Your Real Estate Badge Online

The days when a monthly newsletter was enough to keep your network updated on your business deals are long gone. With Facebook, real estate agents continuously stay top-of-mind of their potential clients on an ongoing basis. Once you have a business page you can easily create telling content and post twice a week e.g. once with relevant article or latest happening, and second with a listing. Furthermore, you can update your page’s banner regularly with the recent fast house sales.

Introducing Facebook Into Your Marketing Plan

You can easily integrate Facebook with your other real estate marketing practices. If you are blogging, set it up so the new blog posts are automatically posted to your Facebook page. You can use Facebook apps (e.g. Constant Contact) to send monthly newsletters to your fans. Given the amount of mail people regularly get and that newsletters are prone to be stuck with spam filters, an FB update is a far better option.

A good way of marketing a particular property across multiple channels e.g. Facebook, email and listings, is to use different lead pictures. Each of your Facebook post and ad can show a different view for the same property. Hence, a person who was not attracted to one element of the property might be attracted to another.

So go ahead, design and maintain your Facebook business page and boost your real estate business.

You’ll Never Sell Your Real Estate Business, So You Might As Well Automate It

Businesses, like real estate, can be planned, built, finished, and sold for a profit. But what if you own a business that buys and sells real estate? It’s not the same. The best you can do is sell the real estate that you’ve bought, and that’s the end of it. No one will buy your business and pay you several times your current yearly profits, as they would other businesses. Stinks, doesn’t it? I’ll go into the details of why this is, but also offer this self-coined truism as a consolation prize:

“You’ll never sell your real estate business, so you might as well automate it.”

I. Other Businesses’ Options and Exit Strategies

Other industries have it good, or at least some of them. If you were to start a company that, for example, sells chairs, you would make your initial investment and get to work. You’d test ways to find people who buy your chairs, and you’d develop relationships with retailers who buy from you in bulk and resell your chairs to the public. Once you make enough money to survive, you grow the business by reinvesting profits, borrowing, or raising capital.

Then you get bigger, sell more, make more, and before you know it, you have a track record of several years. You could now sell your business to someone else. But, of course, the more profitable your company is, the more someone will pay for it. Each industry has its own rules of thumb, but for the most part a buyer will offer you a multiple of your company’s yearly earnings (hopefully several times).

Other things besides earnings can increase your company’s sales price, such as systemizing it. If you can show a buyer how your company runs itself without you (the owner) having to do anything, you can imagine how much more attractive it will appear to them. Who wouldn’t want to own business that spits out money year after year without much work? It’s worth paying more for.

People and companies who buy businesses also want to buy something that is scalable. This means that they should be able to grow it without having to hire a ton of people. Law firms can’t do this, because each attorney can only bill so many hours, and in order for the firm to make more money, they will have to hire more attorneys. Compare this to a software business where people can download the products from a website-you could potentially sell hundreds or thousands more copies per year before you have to hire someone new.

So, selling it gives you a lump sum of money that you can use to start a new business, invest somewhere and retire on, or whatever. Most businesses don’t sell because they wouldn’t sell for a substantial amount, but it’s still many entrepreneurs’ dream to build a business, sell it for a huge amount, and get the heck out of Dodge. I know a few people who have done this, and I am insanely jealous.

II. Why Real Estate Investment Companies Are Different

The reason I’m jealous is because not all business types are able to do this. Some businesses rely so much on the owner and their specialized expertise, that it would be hard for a new owner without that same expertise to jump in and make it work. Like a law firm. Or a doctor. Or, regrettably, a real estate investment company that flips and/or holds property.

The best that we can hope for is to sell whatever assets we’ve accumulated. For doctors and law firms, those assets are customer lists, supplies, and maybe the building they are in. For us investors, it’s our properties and that’s it. Our companies are only (perceived to be) worth whatever we can sell our properties for.

I think that an investment company is scalable. I can picture a company that buys and sells 100 houses per year and only has a tiny office of staff. But when is the last time you’ve heard of a real estate investor selling their business? I haven’t. It just doesn’t happen. Instead, we’re just looked upon as individuals with real assets that we could sell off, and I doubt any investor would pay market value for them.

III. But at Least You Can Automate It

You can even write systems for your real estate company and get it to the point where it practically runs itself without you. But no one cares. So, if you can’t sell your company, you might as well make life as easy as possible and systemize it for your own benefit. Map out who does what, write the systems, and hire the right people to run them for you and give you reports.

And, if it’s creating cash and equity profits year after year anyway, this may not be such a bad thing. You just need to know what you’re getting into. So while individual houses have multiple exit strategies, your investment business as a whole has two:

1) Sell off all of your properties and liquidate the company.

2) Own the business forever-keeping your properties, maybe buying more, maybe selling some.

I opt for #2, but encourage you to make your business as easy as possible to manage for your own sake.

Real Estate Business Without Pleasure

Here’s a short list in which many investors are utilizing to close the deal on real estate investments day in and day out. Would you like to get your hands on it? Well below you’ll find the list in which many potential investors would kill for or you ready to do the same?

Winging It – virtually every real estate course made available online or in the offices of real estate investors advises potential investors to practice the “fake it, ’til you make it” strategy and to just go with the flow even without a plan. This is one of the many ways so many people are swindled out of hundreds and thousands, and sometimes millions of dollars. You never want to go into a business without a plan.

The Absence of a Professional Team – if you’re seriously considering breaking into the business of real estate; good luck. The important thing to remember is to not go at it alone. It’s important that you build a team of professional that have your best interest at heart. This may be difficult from the offset but with research and information it can be accomplished.

Breaking the Bank on a Deal – never enter into a business deal with the intent of purchasing a home without first knowing the worth of the property. There’s never a bad time to invest in real estate regardless of what the media is saying.

Building Business Entities without Your Name – to many people end up losing everything they own for this very reason, don’t become a victim of this. If you’re in the business of gambling, it would be best to go to Las Vegas. It’s important that you do extensive research in order to get a better understanding of how corporate entities work.

The Wild, Wild West Mentality – if you’re under the impression that you can do whatever you like when facing homeowners in dire need, it would be best to take a look in the mirror and rethink your assumptions. It’s all about following the rules if you want to be successful in this line of work.

Title Researching or Not – this can lead you into an abyss with no possible way of getting out. Title searching is important and should not be taken lightly, so it would be smart of anyone investing time, money and life into real estate to learn how to search titles wherever necessary.

Cash Reservations – in the real estate business it will always be about the money, no matter what. It’s not always about using your money to find deals, land deals or close deals; however, it will always take money to make money in real estate regardless of what anyone may say.

Your Education Should Not Go Ignored – education has always been the gateway to success and it doesn’t change in the business of real estate, and education should not be based upon some infomercial you saw last night. Educating yourself can come in various forms but don’t waste money on education that you could be using for handling deals. Too many people spend hundreds and thousands of dollars on real estate classes only to have nothing to show for it. Let your education speak for itself through the closing of MASSIVE DEALS.

Crunching the Numbers Correctly – this is one way many people learn the hard way about real estate investing because they end up misjudging either their purchase figures or their fixer up and/or holding cash. This is one mistake that could end your career before it even gets started.

Last but not least, it goes without saying, real estate is not a get rich scheme – GO FIGURE!