Discover how REISift's innovative data management solutions can help real estate investors effectively manage their data to generate high-quality leads, minimize marketing costs, and access untapped markets to build a sustainable real estate business
When it comes to real estate investments, determining the ideal marketing budget can be challenging for investors. Unlike agents who calculate their budgets based on a percentage of commissions, investors face a unique set of factors that make it difficult to gauge the optimal amount to spend for generating a consistent client base. There are so many contributing factors that make it unique to each individual.
Instead of ballpark figures, it's most important for real estate investors to focus on the effectiveness and consistency of their marketing.
As Tyler Austin, founder and CEO of the real estate marketing platform REISift, puts it, "You became an entrepreneur because you want to make more money and have more freedom, but that can't happen unless you create systems for doing a predictable number of deals every month."
Tyler continues, "You can't do a predictable number of deals every month unless you generate a predictable number of leads. Like a car requires gasoline, your business requires a consistent lead-flow."
There is nothing like watching hard earned profits disappear into a marketing sinkhole. So, what is the key to ensuring a predictable number of leads in the most cost-efficient way? Tyler would say "proper data management".
At REISift, Tyler and his team have developed a sophisticated, yet easy-to-use tool that enables healthy data management, proper sales focus, and accountability. Every real estate investor has lists upon lists of data to use towards lead generation, but only a handful are really squeezing that data for every commission dollar it contains.
Tyler asks, "Do you keep track of every dead lead? Wrong numbers? What about every person who's told you to stop contacting them? Do you even track the people you've sent mailers to, cold called, texted... and how many times you've contacted each one of them? Do you completely understand your data?"
The common answer to all of the above is "no", which is why REISift was created. A significant piece of REISift's mission in the real estate industry is education, so while the platform is scouring and cleaning data for investors and answering "yes" to each of those questions, Tyler wants to ensure that users also understand best marketing and data practices.
Firstly, the best kind of lists are stacked. This simply means combining property lists to find those that meet multiple of the criteria: vacant, tax delinquent, inherited, and suffering from code violations.
With a stacked list of properties, investors can then use skip tracing software to gather valuable contact information such as homeowners' names, phone numbers, current addresses, and emails.
An important note on skip tracing is that not every record returned will generate a valid phone number, but this does not mean the property is any less of a high-potential lead. Without that contact information there is likely significantly less competition from other investors who will have given up on it and databases are constantly being updated so the property can be flagged to be traced again in a few months.
With this clean and comprehensive data, investors can create a hyper-targeted marketing campaign that is more likely to generate high-quality leads and run that through three marketing cycles.
This best practice process will feel like an impending migraine for any real estate investor trying to manage their data without a software tool and Tyler wants to put that at ease.
"At REISift, we've blazed a trail and created software that allows investors to manage their data with ninja-like precision. When it comes to skip tracing your lists, we'll help you clean your list before you skip trace (which saves you money), never skip trace the same owner multiple times (which saves you money), and only charge you for matches (which saves you money)."
Tyler adds that, "Our entire business is getting investors results and our pledge is a guarantee that you will increase net profits x10 and increase clarity in your marketing strategy x10."
Every entrepreneur is aiming to build a sustainable and lasting business, but longevity only comes about from consistency.
When reflecting on data management in real estate, Tyler states that, "We know data can be a complete nightmare, but we've also seen how incredible it can be in building a business. That's why REISift was founded."
He concludes, "The real estate investors who will be around for the next decade are the ones who use clear-cut and proven systems for generating a predictable number of leads."
