Minnesota Real Estate Investors Association, Inc.

Minnesota Real Estate Investors Association, Inc.

Technology & Real Estate - A Blast From the Past


Real Estate WebsitesAs a real estate investor and a student of technology I have been preaching for a long time that every serious real estate investor should look into taking advantage of the incredible reach technology provides us. While looking through some archives I found an old radio interview where I had been the special guest and shared my ideas on thinking outside the box, using technology to boost business, and essentiality of having a website. The original interview can be heard in its entirety here at Realty Talk Radio:

Looking back at this interview we have come a long way since the interview (aired 2/21/2006) and I still hold the same views on the subject. The internet is one of the most incredible tools ever to come our way, a complete transformation in how information is sought and exchanged is something that cannot be ignored. Every business card you hand out, every bandit sign you stake in the ground, each promotional item you print up, and all other advertisement that does not have a website address with a website behind it can be considered a waste of money.

For years I have been working on creating websites for the real estate investor who doesn’t want to put in the time and money to develop the site and then have to add another significant monthly expense keeping someone around to do updates, fix bugs and monitor the web hosts stability so the site is always working. There is a lot that goes into creating a website where even a quick simple independent site will require numerous costs that can be confusing and you still don’t know if it’s going to work. Your hands on ability to update your site and control its content depends on your computer savvy, but typically most real estate investors aren’t knowledgeable in such things.

After years of work we have finally released our brand new real estate websites that fit perfectly into the real estate investors business. As a real estate investor myself, I’ve run into many of the same problems that anyone else would have and have taken all of those lesson and integrated them into our websites. Let me go over a few of these issues and how I have designed the websites to make the best of them.

Problem #1 – We aren’t accessible 24/7, some sellers maybe hesitant to call on the phone but would be more open to something a little more impersonal.

Solution #1 – Websites are perfect for these two issues where they can reach us 24/7 with their property information and financial situation. Because of the impersonal nature of the internet, most people are more willing to disclose their situation in more detail with accurate information. A side effect of using the internet is that when a buyer or seller submits their information online, you now have a file system in place for you. You will never again lose the sellers contact information or the details about the property.

Problem #2 – Every time someone calls in with a property it seems like I have to explain everything about the foreclosure process and what we can provide them and it simply takes a good chunk of time out of the day to go over these things with each person that calls in. And sellers who call in often want referrals.

Solution #2 – Buyers and Sellers can take their time to research our company online and the Websites does a great job of explaining our services and why they should chose us to work with. Funny thing about referrals is that I have never been asked for a referral from someone who spends some time on our website, especially the ones who request our FREE Special Report. The reason for this is simple, we have a Foreclosure Report that sellers can get instantly online. They are required to give us their name and email address. We then take that and send them follow-up emails making sure they got the report and asking them if there is any other questions we can answer right now. This form of marketing and follow-up actually builds a relationship with the Sellers, so they feel like they already know us before we have ever talked or had a substantive conversation about their property.

Problem #3 – I need to get the most out of my marketing costs!

Solution #3 – Having a Websites is a great way to approach creative advertising for real estate for a low cost, however, creating a website from scratch can be either time consuming, costly, or both. With the Real Estate Promo websites I have settled on an effective layout that has produced the best results. One of the first wrong steps an investor can take with their website is adding too many bells and whistles, over the years I have found our layout to be the most effective, direct, and easy to follow.

Aside from saving costs and time, websites can add a multiplier effect to your other forms of advertising. You would be surprised the results that can follow after you add your website address to all your other marketing efforts. At the same time you also have a place to list your properties where it will be seen to those who arrive by means of direct traffic from your advertising, but at the same time produce new leads for properties. It’s like your own personal win-win-win (time-energy-opportunity).

If there is one thing I want you to take away from this blog post it is that there are two things that can add a great deal of fuel to your business: technology and creativity.

Technology: Use it to make your life easier by saving time and money. Our Websites are a great tool for the investor and if you compare the cost of $9.95 a month to the hourly rate of a website designer you can’t help but see the correct choice. Save time, save money, look into our websites because they were made from experience with us, the investors in mind.

Creativity: Creativity is a sharp topic because people don’t usually consider creativity in the same arena as competitive advantage as much as they should. Take an aggressive approach to creativity; the websites were made to be calm, cool, and direct because that’s what is most effective. But you should use your creativity to create an advantage that no one else can, you learn it like no one else can, and you take advantage of your advantage like no one else can. Try the website so you have that base covered and you’ll have more time to focus on being creative and balloon your advantage.



Cristal Boxwell5/25/2010

Pancho59@gmail.comNice post!!! You make some interesting pionts - Im gonna keep checking back for updates. Keep up the good work

Hotel Consultant1/26/2009

hotel.consultant@hotmail.comHi Does anybody know about a new online market place for developers of real estate and hotel projects to submit projects and contact investors, hotel operators, buyers, etc? Thanks

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