Most Effective Strategies To Grow Your Real Estate Business

This 2016 we’re looking at an increase in commercial real estate properties, or CREs. If you’ve decided to start a real estate business, then you most likely already know how important it is for your business to make money. At the end of the day, you must have enough cash to stay afloat. However, we must mention that the real estate market has not fully recovered. It has strengthened though, and it’s worth emphasizing that increasingly more investors and savvy entrepreneurs are thinking of buying. Which are the most efficient tactics to help grow your real estate business? Read on to find out.

Fix and flip

Buying a house, dealing with major fixtures, and then trying to sell it is better known as “flipping”. Many realtors find house flipping incredibly rewarding. However, it is not the easiest way to make money from real estate. The media has turned house flipping into a real money-makers. Main TV shows make an extra $100,000 on a single deal. Truth be told, things are not that easy, and in real life flipping houses comes with a lot of risks. You need a strategy for this approach to work. You also need to understand the real estate market. In this sub-niche experience matters the most.

Prior to buying a house, it might be a good idea to know your ARV, After Repair Value. It might be a good idea to consult with a skilled realtor to help you out. A great tactic is to check recent sales values of similar homes in your neighborhood.

Look for off-market properties

If you’re having issues finding convenient deals before other people, you’ll probably struggle to make money. A lot of properties that are worth investing in are not available on conventional websites such as Zillow or MLS. Since these are properties owners want to ditch fast, they don’t stay very long on the market. Off-market properties are also known as “pocket listings”. These homes sell in a blink of an eye because the owners are in a rush to sell.

You can spot them driving by your neighborhood looking for FSBO properties, also known as For Sale by the Owner properties. Look for homeowners in desperate need of cash, because this means they’re more willing to drop their price. These sort of properties will provide you with the biggest returns on investment.

Staging properties and preparing them for sale

For many potential buyers the simple process of viewing a home is incredibly emotional. That’s because they need to see themselves live in the home they’re thinking to buy. Marketing an empty house can be difficult to sell; most clients judge the way a home looks from a distance, or from what they see in a photograph. A house with empty walls and dull rooms doesn’t make a good first impression; on the contrary, people won’t even want to see more.

Staging is fundamental when trying to sell a home. Experts in real estate state that staged homes feels more comfortable. It has a special allure that compels a viewer to buy. There’s really no need to spend a lot of money when staging a home. Sometimes the smallest details can have the biggest impact.

Generating leads with direct mail

In spite of being an old-school method used more frequently several years ago, direct mail still works when attempting to buy or sell a home. But it must be done right, otherwise your property may suffer.

A recently marketing report claims that as far as response rate is concerned, direct mail has the capacity to outperform all other digital channels. But then again, not all direct marketing tactics are the same, and for direct mail to work you need to have a targeted audience in mind prior to beginning a campaign.

Growing your real estate business doesn’t have to be that challenging. All you have to do is know which strategies works and which don’t. Some industry experts will advise you to fix and flip, whereas others might tell you that property staging matters the most when selling. A good idea might be to work with a realtor yourself. This way you can know for sure that you’re making the best decisions when either buying or selling.

By Davis Miller and PropertyTurkey.com!