Good or bad, we can all agree that 2017 was quite the year. Here at LeadPropeller, we’re so proud of the growth in both our professional and personal lives (we couldn’t have done it without investors like you!). With so much to plan for in 2018, we decided to take a look back on 3 notable highlights of the real estate investing industry in 2017.
A Whole New Wave of Homebuyers
As real estate investors, we know that the housing market is fairly cyclical. Currently, the housing market is in a growth period. In 2016, 5.45 million homes were sold compared to the 5.57 million houses sold in 2017. However, people are changing up their home buying strategy.
For starters, the demographic of people buying homes has completely changed. While millennials are buying homes less often than previous generations, they are still trickling into the house market. This tech-savvy, student debt riddled, and urban dwelling group have a very cautious buyer persona. Before making large decisions (like selling their house), they often do extensive research online.
So, what does that mean for real estate investors? It means that it’s important that you have an an online presence in addition to your current marketing tactics. Being searchable is crucial in today’s digital age.
But, what does technology mean to the less tech savvy Baby Boomers? After all, they are a crucial demographic to a lot of real estate investors. While they won’t frequent the internet as much as their millennial counterparts, having an online presence for your real estate investing can still be impactful. A lot of younger family members help Baby Boomers handle their affairs. A website can be another point of contact as well as a way to beat your competitors.
Direct Mail is Dead
We’ve said it before and we’ll say it again, direct mail is on its last legs. Physical mail just doesn’t have the conversion rates it used to and it’s time for REI’s to adjust. We live in a digital era where almost every activity, from business to pleasure, is done online.
Veteran REI, Paul Del Pozo, says “Technology and social [media] access has been great in how it’s easy to find info and tools to help your business. But, those same tools are accessible to everyone else as well. So, taking action faster is even more important.”
Just like in Talladega Nights, the world of real estate investing operates on the principle that if you’re not first, you’re last. Be the first REI someone Googles so you can be the first one that they contact.
Real estate investors have been transitioning their business from physical to digital. Gone are the days of trying to stand out in the mail pile, a lot of investors are trying to be the top of the Google search.
Bottom Line: The Goal Post is Constantly Moving
Look around, the world of real estate investing is getting better. No matter if you’re a novice or a seasoned vet, there’s a lot of real estate investors gunning for your motivated sellers. Just like Del Pozo said earlier, speed is everything in this industry.
However, the speed has to be going in a practical direction. Real estate investing requires constant adaptation to new trends, changing markets/demographics, and more competition. Having a go to strategy is great, but it needs to be ready to change at a moment’s notice.
This is at LeadPropeller we want to continue providing impactful, user-friendly, digital lead generating solutions for REI’s. We’ve learned a lot about what works for active REI’s (and what doesn’t. As the goal post constantly shifts, we’ll always be ready to have your back.
While 2017 was awesome, we look forward to see even better lead generation in 2018! Stay tuned for all the fantastic things we have coming for you soon!
Ready for your REI website now? Visit leadpropeller.com where you can have your customized investor website live within minutes.
"Avoid These 10 Biggest Mistakes Most Investors Make When Trying to Generate Motivated Seller Leads Online"
What you'll learn:
- How to avoid screwing up your real estate investor website so that you can generate more leads and deals
- How to avoid repulsing motivated sellers and instead having them want to do business with you instead of your competition
- How to *capitalize* on the trend of people searching for services on their mobile devices
- How to "shut out" your competition from getting the same leads as you on the internet