Billboard Advertising - Posted by Jim C

Posted by Merle E Woolley on February 12, 2001 at 21:45:33:

Well, it has been said that we live in an area where people are different. They pay us better, cause no problems. We don’t even have to check the credit of our buyers.

People here are definitely different.

Where is this unusual place? About 220 miles from you … in Springfield, MO.

I had to dig today’s paper out of the trash to look at the ads. Yes, there are some in there. Had never (honestly) looked at that section of the ads before. We have never ran an ad in the House Wanted or Real estate Wanted section of the newspaper.

Quite frankly, I doubt if many individual sellers ever read those ads either. After all, who ever heard of someone who wanted a house running an ad to find one? Do you really think the average person trying to sell their home would think to look for this section in the paper?

No, people are no different here than anywhere else. Most of the difference we experience comes from doing business differently. I feel sure that those running the “house wanted” in our newspaper might post the same questions you ask.

When I occasionally meet another investor in this area, they almost ask similar question, “How do you do the volume of business you do?”

It’s really very simple. We didn’t have any help in the beginning. And, we knew nothing at all about buying and selling real estate. That ignorance was our greatest blessing.

In our area, you find a weekly “shopper” newspaper called Pennypower. EVERYONE reads the Pennypower. Garage sales … personal ads … almost anything you can imagine. Seemed to us that even people who wanted to sell their home would be reading this … not necessarily to sell their home, but because everyone reads Pennypower.

We ran our ads there. In fact, we’ve not only bought houses by PP ads, we’ve bought many other items … latest was a brand new, still-in-the-box digital camera for half price.

Our buyers are people who don’t think they can buy a house … bad credit, no down payment, etc. BUT, THEY READ PENNYPOWER!!

It has been said that to be successful, you must learn to think outside the box. Be creative.

Just came from an Advisory Board meeting at our local golf club. The question asked tonight, “How can we get a surge of new members without spending a fortune in advertising?” I suggested a once-a-month guest day. Every member can invite one guest that day for a free round of golf. Guest can play free only one time per year. How many of the members do you think will be talking to their friends every month about the club? Can you think of a better way to promote the club than to have the members talking about it? No other club is offering free golf … no strings attached.

That’s just the drift of the idea … but, learn to think of something no one else is doing. Dare to be different.

Forget the competition. Do the job right and you have no competition.

Too easy to get carried away … gotta go. Hope this helps.


Billboard Advertising - Posted by Jim C

Posted by Jim C on February 11, 2001 at 21:45:29:

Has anyone had any luck with Billboard Advertising? Is it effective and worth the money?

And any idea on how much it costs?


Jim C

Re: Billboard Advertising - Posted by Merle E Woolley

Posted by Merle E Woolley on February 12, 2001 at 13:33:44:

When I see posts about “generic” advertising, the same question always arises in my mind … “what for?”

Banks and institutions, trying to maintain a public image, spend many dollars on “generic” advertising. In fact, they refer to it as institutional advertising.

In our 16 years of real estate investing, our only advertising has been specific with measurable results. We run an ad for buying houses (and the ad contains very specific details for what we want). The phone rings, we buy a house. We know exactly how much we spent for advertising to buy that house.

Run an ad to sell a house, same situation.

Institutional advertising is usually longer term, not subject to quick changes. Billboards, TV spots, magazine and newspaper display ads. Personally, I think you would be wasting your money.

Now, this is my opinion and relates to our business. Others may have found a way to use this type of advertising successfully. If so, perhaps they will also post their results.


Re: Billboard Advertising - Posted by Bud Branstetter

Posted by Bud Branstetter on February 12, 2001 at 10:18:49:

I posted a comment a week or so ago about by investor associate that called about pricing. The billboard company’s prices were based on how much you spent with them. Smaller billboards in lower traffic areas were obviously less. The good spots were under contract to people like Homevestors. No it wasn’t worth it unless you are full time doing mega number of deals.

Re: Billboard Advertising - Posted by John J.

Posted by John J. on February 12, 2001 at 24:24:32:

It’s very expensive and you might have to committ to a minimum time period that goes far beyond the time that you need it. Just call some of your local billboard companies for quotes.

Re: Billboard Advertising - Posted by John STL

Posted by John STL on February 12, 2001 at 15:14:13:

Merle, Where are you located? Just wondering? Are their any other investors advertising in your area? I’m in St. Louis and there are like 10 ads for people buying houses. How does someone compete with this? Do you just advertise in the paper and thats it?

Re: Billboard Advertising - Posted by mike

Posted by mike on February 15, 2001 at 20:01:40:

buy a piece of land and put your own sign up. just trying to think out of the box.