6 Best SMS Tips for Real Estate Investors
By Josh MillerFirst published Updated 3 min readTexting works for investors when each message is personal, short, scripted for every kind of reply, and sent a few times a month at hours people actually read. Follow the carriers’ registration rules and measure every campaign so you can keep what works.
Text messaging, or SMS (short message service), is essential in marketing for several reasons. As widely cited in 2021, it has:
- 98% open rate;
- 90% are read within three minutes of receipt;
- 45% response rate;
- Less intimidating and invasive than cold calling;
- Costs less than traditional marketing; and
- Has great ROI.
SMS is an easy, fast, and reliable way to communicate critical information to leads, and its effectiveness is indisputable. You can build a successful SMS campaign with these tips.
Tip #1: Be Aware the Business SMS Landscape is Shifting
Mobile carriers have a responsibility to their customers to protect them from spam and bad actors. Bad actors exploit SMS platforms, compiling valid numbers to sell or target for phishing attacks.
Businesses that send and receive SMS must agree to new carrier requirements. In 2021, new developments included a vetting and application process that builds transparency and trust around text messages. Approval for a dedicated number could take 8 to 12 weeks, and you paid registration fees when you registered your messaging campaign.
Tip #2: Send "Targeted" Messages
How do you feel when you get a message that you know was sent to thousands of people? Does it make you feel like a number or checkmark on a list? Generic messages do not have the desired effect on recipients.
Targeted, customized, and personalized messages grab attention and have improved response rates. Address the recipient in your message, and share information that is relevant to them and their situation.
Tip #3: Less is More
How would you feel if a salesperson sent you five messages a week? What about twenty messages in a month? It seems excessive, right?
Text messaging best practices recommend four to five messages a month. These messages should be brief and to-the-point. Also, leave the recipient with a clear call-to-action, so they know the next step to take.
One way to avoid overwhelming prospects is to make SMS one part of a multichannel campaign that includes email and cold calling, and to reach prospects over a longer period, sometimes as long as 6 to 12 months, because a lead who is not ready today may be an amazing opportunity later.
Tip #4: Have a Real Estate Investing Script
You must write a script sequence for every possible lead response, including “Not Interested”, “Interested”, “Not Ready to Sell”, and “Ready to Sell”. Engage your prospects at every step across the customer lifecycle.
Just like with cold calling, a script helps you navigate lead pain points and responses. When you write your messages, you want to use a friendly tone and be conversational. Sound less salesy and more human, but still, be a professional.
Tip #5: Timing Matters
Prospects are less likely to answer a text during commute hours when driving, at 6:30 to 8:30 AM and 4:00 to 7:00 PM. Also, Mondays, when everyone returns to work, have the worst response rates. The best time to send a text message, then, is typically between 10:00 AM and 8:00 PM, Tuesday through Friday. Be mindful of time zones.
Track response times and schedule future texts accordingly. This way, you send leads the right message at the right time, when it is most convenient for them to answer.
Tip #6: Measure Efficiency
Measure the success of your SMS campaign and optimize for efficiency. You can leverage technology to track open and click rates, and A/B test your messaging, audiences, and timing. This way, you can tailor your messages for audience types and garner better results.
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