Patrick Biddiscombe sold his real-estate investment agency in 2019 by targeting people at life events like divorce or job loss instead of competing with expensive platforms like HomeVestors. He found cheaper leads by reaching people searching for divorce attorneys or probate help, not house buyers.
Questions this video answers
2019
$550
$70
$30
January 10, 2024
Chapters
I had the highest performing real estate investment campaign on The Planet for seven years. I sold that agency in 2019. Before we sold, we were going up against companies like HomeVestors, which are the big, big, big, big dogs in the space that we buy ugly houses, people. The HomeVestors average cost per lead in the city of Phoenix was $550. My average cost per lead was 70. Now here's the problem. Homevesters was carpet bombing the industry with we'll buy your house fast for cash. What we did is we ended up identifying there's about 15 reasons that people sell their house. Generally speaking, sell their house at a discount. And there are things like job loss, relocation, divorce, sickness in a family, death of a family member, probate, et cetera. Sell my house fast, you know, a couple hundred dollars a click. But divorce attorney In Arizona was 30. So it's a pre awareness. You don't even know you're going to sell your house yet. But I know if you're shopping for a divorce attorney that at some point you're going to have to have a property conversation, especially if I can further buttress that demographically. So you really want to talk arbitrage, man. I think the opportunity is in the pre awareness phase.