3 Real Estate Investor
Marketing Metrics To Keep Track Of
There are 3 real estate investor marketing metrics I would advise you to track daily if you want to be successful wholesaling houses. And no, I'm not about to get technical with you and go into cpm (cost per thousand) and cost per lead or any of that highly technical marketing mumbo jumbo. The whole purpose of sharing this with you is to help you avoid some of the damage done by real estate gurus and coaches who make you think that learning some fancy schmancy real estate technique is more important than mastering real estate investor marketing and lead generation techniques (See Business Opportunity Guru Misdirection)
3 axioms for successful distressed property investing
Marketing metrics are those numbers you can look at to give you a snapshot of where you business stands for the day, week, month or period in question. The axioms underlying the marketing metrics are as follows:
- The more offers you make, the more house flipping deals you're likely to get.
- Your conversion ratios (and level of emotional energy) are likely to be higher when you make offers only to proper prospects - motivated sellers.
- The number of deals you actually close depends on the number of sellers/organizations you persuade to sell you discounted properties
Examining the axioms above can help you determine whether you're in the house flipping business or whether you're a hobbyist. If you haven't made many offers to buy property this month, you're probably a hobbyist. If you're not getting at least 1 or 2 executed agreements (or at least counter-offers) at least once every two months, you're probably making offers to the wrong prospects, or making completely uneducated guesses and calling them "offers to purchase property".
3 marketing metrics for success
in wholesaling houses or flipping
Here the 3 promised metrics for growing and managing a successful distressed property flipping or income property investing business.- Number of new qualified motivated seller leads
- Number of real estate purchase contract offers made
- Number of executed contracts (signed contracts or accepted offers)
Tracking these numbers daily, managing the processes behind them, and improving them, will help guide your effort toward success.
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