How to Get Motivated Seller Leads During the COVID-19 Pandemic
It’s been over a year since the COVID-19 pandemic outbreak. Yet, little has been done to reboot the economy or real estate market in the U.S. Foreclosures and bankruptcies have skyrocketed, forcing families to sell their house or lose their property to lenders who are apprehensive about having numerous repossessions on their books. In short, times are tough for anyone in real estate.
However, every challenge creates an even greater opportunity for real estate investors looking for the next big deal. As a local buyer in your market, you can find in-roads that may be difficult for real estate agents in a traditional setting. You can also help homeowners in tight situations such as bankruptcy, foreclosure, late mortgage payments, back taxes, job relocation, or rental properties. Below, we look at how you can still find quality leads in a stale real estate climate.
Get Aggressive with Your Marketing
The pandemic has caused numerous companies to shore up their advertising dollars and re-allocate their budget toward core operational essentials. However, instead of following the trend of pulling back, now is the time to move forward with your marketing. Getting aggressive with your marketing gives you leverage over the competition who may otherwise be spending less on marketing over the next few months.
An aggressive strategy can help you find quality leads in markets that may have been challenging under normal circumstances. Right now, homeowners are desperate to sell their houses due to the current financial situation. By getting your name out there, you can offer a fast cash solution that isn’t available in traditional real estate.
Keep Your Eye on the CARES Act Forbearance Program
In March 2020, the federal government rolled out a series of programs that protected homeowners from foreclosures, bankruptcies, or even short sales. The CARES Act Forbearance program was enacted by the Trump administration and extended by the Biden Administration for more than 12 months.
However, leads are already coming in as those who enrolled in the CARES Act early are reaching the end of the forbearance period. Many homeowners will be anxious to unload properties to avoid bankruptcy or foreclosure. As an investor, you can create a win-win by buying properties at below-market prices while helping people out of dire situations.
Focus on Generating Quality Leads
One of the biggest mistakes that investors make is resorting to buying lead lists when times get tough. Compared to other lead-generating methods, lists provide the highest quantity but the lowest quality leads. They also create far more work than is necessary to get quality leads. You may spend countless hours combing through leads that produce zero results.
So, before you get desperate for leads, create a lead generation strategy that consistently works regardless of the current state of the real estate market. If you need help generating quality leads, outsource your marketing to a digital marketing agency with experience in the real estate sector. Find an agency with expertise in a broad range of marketing strategies to help you cover all bases.
Exhaust Every Marketing Channel
There are essentially two different types of marketing today:
Traditional marketing refers to any type of marketing that is not digital or online. Traditional marketing may include
- Cold calling
- Direct mail
Regardless of the ongoing trend toward digital marketing, direct mail and brochures still influence the way homeowners sell their property and who they are willing to work with.
If you don’t have a massive budget to throw at traditional marketing, or you want to keep better track of how your marketing campaign is going, digital marketing may be a better option. Digital marketing channels may include
- Social media page/ads
- Search engine advertising
Digital marketing is designed to reach your target audience via desktop and remote devices such as smartphones, tablets, and computers. Right now, more Americans are using these devices due to being home more. Right now is the perfect time to use every marketing channel possible to promote your business and get quality leads in previously unexplored markets.
Create Reassurance with Compelling Content
Today, homeowner and seller anxiety are far higher due to COVID-19. Instead of clever sales pitches and aggressive talk, sellers are looking for a local home buyer sympathetic to their situation and can provide real solutions to their dilemma. Providing compelling content that is relevant to the pandemic is key to connecting with potential sellers.
When it comes to bankruptcy, foreclosure, late mortgage payments, unwanted rental properties, back taxes, relocating, or downsizing, sellers have serious concerns and questions. You can build trust and establish credibility by addressing these concerns in your content on all platforms. Ensure your content is timely and relevant and provide a degree of warmth, showing sympathy to the reader’s situation.
Contact Motivated Seller Prospects for Marketing and Ad Solutions
If you are ready to take your real estate investment business to the next level, contact Motivated Seller Prospects today. Learn more about how we can help you implement the Motivated Seller Prospects Marketing Program in your area. To check the availability of your market, fill out our application form or contact us at (877) 404-1161, and we will walk you through the process. We work with a limited number of real estate investors per market, so claim my market today.