I currently do a ton of lead business online for cash offers but I want to run ads to my own site and/or landing page rather than pay for leads.
I have used a lot of ppc management in the past with my retail business, and I know finding the best manager is what can separate a great business and a failure. I know there are some recommendations that carrot has, but I want to hear from the real people that are converting leads and hear who they find to be the best.
I will not run my own campaign.
I am thinking of starting with a $5k budget and then increase over 6 months to something like $20-$30k a month.
Thanks for your recommendations in advance.
I’ve been managing accounts since 2015 so I’ve tested and seen many different strategies from other agencies. I think it comes down to what fits you the best.
But, when choosing a Google Ads manager, it's important to consider the following factors:
Experience: Look for someone with a proven track record of managing successful Google Ads campaigns. Someone who knows what is and isn’t possible for lead gen.
Specialization: Try to find one that specialize in our industry. This cuts down on time and potentially wasted budget.
Communication: Choose someone that is responsive and easy to communicate with. Also, be aware of they promise. I’ve experienced agencies over promise the lead potential to win the client. Most of those agencies aren’t within our industry.
Transparency: Look for someone that is transparent about their strategies and can provide regular reporting and data analysis.
Service: Make sure they offer the services you need, such as campaign management, keyword research, and ad copywriting.
Cost: Compare the costs of different agencies and make sure the services offer fit within your budget. Most of the real estate investor services charge between $400 and $1500 per month. From what I’ve seen, the $1500 services aren’t anymore productive than a $400 or $500 service. It’s more important that they understand the audience.
Ultimately, choosing the right agency for your business will depend on your specific needs and goals.
I know that is a vague answer that doesn’t say who to work with. But, those are questions that I’ve experienced members not asking before starting Google Ads.
I hope that helps some. Let us know if you have more questions.
Top 10 Questions To Quality a PPC Agency
Ask these questions when you are chatting with an agency to determine if they are a good fit for your business:
1. What % of clients are real estate investors? You are looking for 90-100% here. This will determine if they are truly specialized.
2. Do you have an active investing business? IF they do, get their website This means they understand the other functions of the business that affect PPC like the entire website, online presence, lead management and sales process so they can provide additional support in those areas which are crucial for success.
3. Do you have current clients I can speak with? Look for clients that have been with them at least 6 months. If they can’t procure that, it’s a red flag that they can’t provide long term results for investors.
4. Do you subcontract out any of your services?
This is especially important if they offer multiple services. Often agencies will have an in house team for one service and just upcharge services of another company that secretly does the work for them for the rest. Understand what you are paying for.
5. What is the average monthly budget of your clients?
It will either be in the $2k--$4k range or $6k+. Make sure your budget is near what hey tell you. If your budget is $2k and they mainly work with $10k budgets, their strategy (and fees) may not be suitable for your business.
6. What are the main reasons that clients leave?
Look for data backed answers around expectations, investor’s ability to close, and site conversion rate. Good answers would be “they quit after X months/spend, when we recommend Y”, “we generate X amount of leads and on average they should convert to Y deals, but those investors didn’t convert.” “Conversion rate on their site was X, and they didn’t put in the work in their competitive market to bring it up to Y.”
7. Do you have case studies of clients with you at least one year? This is proof that they can provide consistent long term results for their clients. If all of their reviews are only investors who closed a deal within 60 days , that’s a
red flag. Case studies > reviews as it’s easy to fudge reviews these days as well.
8. What kind of results should I expect?
The typical ROI for a well targeted PPC campaign for investors is 3-5X your spend. If they don’t set these expectations or tell you they will 10X your money, it’s a red flag they don’t understand our business or our misleading you.
9. How long will it take to get results?
If they promise a deal within 30 days, they are misleading you. PPC can produce deals within 30 days or less, but it often takes 3-6 months for good results. Anything less means the agency isn’t honest or they don’t understand PPC or our business.
10. How can I understand what is happening in my campaign?
Have them send you sample metric reports. Look to see if you can understand
them and how they explain the data. It should be easy to understand and not
filled with tons of tech jargon.
Tips to Find a PPC Manager:
1. google “ppc for real estate investors” though be careful many who rank aren’t specialized for just REI.
2. long-term referrals from other investors
3. Carrot marketplace obv
4. search “ppc” or “google ads” in REI-focused FB groups like Wholesaling Houses Full Time, Wholesaling Houses Elite, Wholesaling Inc, BiggerPockets and see who is answering questions or who others recommend. I would talk to at least 2-3 companies.
Spot on Tim!
I especially like the #8 and #9 call outs! Expectations are huge. That plays into your last question… if you’re in a small market the lead expectations need to be realistic. $20k per month seems to be “national” or at least “statewide.”
If you’re going down the PPC route i can unbiasedly say that working with Tim or Brendan are both great choices.
I’d add an alternative/additional option of doing pay per lead. The advantage with PPL is you have no skin in the game in terms of the management fee or getting crap leads and still having to eat the cost. The only thing your on the hook for are qualified leads. I am biased here and run https://propertyleads.com/ which does exactly this. There are other PPL providers as well which you can find by searching “motivated seller leads for real estate investors.” However, not every lead is built the same. All of our leads are from SEO.