Real Estate Myths You Should Know Today
People like talking too much and introducing claims which end up unreal. As a real estate investor, you should be aware of real estate myths and avoid them as early as possible.
In this blog, we will dispel some of those myths and help you understand what it really takes to succeed in real estate marketing.We usually share a lot of blogs in real estate investing, from starting to managing property business. Ensure you get the latest news in the real estate sector by subscribing to our mailing list for timely updates. Keep reading.
What are Myths?
A myth is a false statement or an action people believe to be true. Myths usually originate from traditions.
However, in our case, real estate myths originate from established investors. The fact is, what worked for them 10 years ago might not work for you today.
Real Estate Myths You Should Know
1. You need a big marketing budget
One of the most common myths is that you need a large budget to be successful in real estate marketing. This simply isn’t true. There are many low-cost or even no-cost marketing strategies that can be just as effective as traditional advertising.
For instance, you can create a strong online presence for your real estate business. As a result, you’ll get potential leads from your followers.
You can also create a real estate website and focus on creating SEO-friendly blogs. You will get free traffic from search engines. Once you have the traffic, converting them into potential leads is easy.
2. You should be on every social media platform
With so many social media platforms available, trying to be on them can be tempting. But the truth is, you don’t need to be on every single platform. Focusing your efforts on a few that are most relevant to your target audience is more important.
For instance, your real estate marketing efforts can do good on Facebook, Instagram, and Tiktok, but that’s not the case with Twitter. As you might know, Twitter has a character countdown, which can limit how much you want to say about your business.
3. You should be a great writer
Another common myth is that you need to be a great writer to be successful in real estate marketing. While it is certainly helpful to be a good writer, it is not a requirement.
With technology improvement, it’s easy to get a top-notch writer via so many platforms like LinkedIn, Facebook, Upwork, etc.
The good thing is you have the freedom to hire a writer with great experience, you can test them before hiring them. That way, you’ll get the best content for your blogs and social media posts.
4. Direct mail is now irrelevant
Do you know how it feels heading to post offices to collect a letter? Well, it means that it could be someone special trying to communicate or a deal coming your way.
If someone can pay for annual renewals of the post box, it’s more likely that they will be keen on all letters they receive.
The good thing is that there is a way to link their accounts to mobile phones. Therefore, they get a notification whenever a letter arrives in their box. So it’s rare to miss a letter.
With the growth of the internet, some people believe that direct mail is now irrelevant. However, this is not the case. Direct mail can still be an effective marketing tool, especially for businesses in the real estate industry.
Additionally, direct mail can be used to target potential buyers who may not be actively searching for a new home.
5. You need to spend a lot of money to invest in real estate
This myth is only valid if you want to buy your property in cash. Alternatively, you can get a mortgage loan from banks to finance your property. Some banks even give you enough to buy raw land and develop it however you wish.
The good thing about a mortgage is that you will pay monthly installments between 15 to 30 years. You can make your loan term shorter if you wish.
6. Professional photographer is not necessary
You need a professional photographer to get clear images of your properties. The good thing about today’s photographers is they are also excellent designers. They will twist your photos and edit them accordingly. As a result, you can get a good photo that can help you sell your house faster.
In fact, with today’s technology, anyone can take good-quality photos with their smartphone. However, you won’t go a step ahead to make the photos professional enough.
Therefore, never disregard professional photographers because they can turn your business around.
7. You must have a website
With all the talk about how important it is to have a real estate website, you might think that you need one to succeed in real estate marketing. However, that simply isn’t the case. We have plenty of successful real estate investors without a website.
One of the biggest advantages of not having a website is that you can save a lot of money. Websites can be expensive to create and maintain; if you’re not careful, you can easily spend more money than you make.
Without a website, you can put that money into other marketing channels, such as print or online advertising, that will be more effective in reaching your target audience.
Alternative to owning a website, we can take all the pitfalls on ourselves. You can list your property on our site without worrying about a hacker somewhere.
8. I can Make it Alone
One of the myths in real estate is you can make it alone. The fact is, no one can succeed in this business without a team of people to support them. From your broker to your loan officer to your real estate attorney, you need a team of professionals to help you close deals and protect your interests.
The most successful real estate agents are the ones who have built a team of experts to help them succeed. If you’re considering going into business for yourself, ensure you have a solid team before you take the move.
9.I can rest after getting some leads
It’s a common misconception that once you get a few leads, you can sit back and relax. The reality is that lead generation is an ongoing process that requires constant effort. Even if you have a few good leads, you should keep working to generate more. Otherwise, your pipeline will eventually run dry.
Always try as much as possible to avoid the real estate myths which can misguide you while investing in property. Always take your time and research everything you should know before investing.
The good thing is that you can get all the information about real estate in our blog section. SMS or call us at +254721 375913, and we will help you achieve your investment goals.
Frequently Asked Questions
What is the unavoidable fact about real estate?
Location is indeed the main factor of success or failure in the real estate business. Investors can only succeed in areas with high housing demand, such as big towns and near big schools.
What is one myth about real estate marketing?
Most people believe that using all marketing strategies can bring good results. The fact is it all depends on your target audience. You should consider your target audience when choosing your marketing channel and message.
What is the best personality in real estate investment?
To succeed in real estate, you should have a growth mindset and be a problem solver. If you see positivity in what you do, you’ll likely succeed.