One of
most effective and frequently overlooked methods of filling or selling a property is use of directional arrow signs. I'm guilty of it myself, although usually I'm merely lazy instead of overlooking this great marketing technique. Being lazy usually costs me in terms of holding costs, especially if you happen to be in a buyer's market as I currently am. Even if you're in a hot market where everything is moving quickly, directionals will move your property that much quicker. Yes, there are numerous other methods you can use such as: flyers in neighborhood and large stores and shopping malls, ads in large and small papers, listings on internet, listing with a real estate agent, calling real estate agents to inform them, mailouts to apartment complexes, yard signs with flyer boxes, open houses, calling loan officers, emailing your buyer list, etc., etc. (I have one friend use advertises her properties on cable preview channel and she says it works great. Unfortunately, that option isn't available in my area.)
Why Do Directionals Work So Well?
Directional arrow signs work well for a number of reasons. First, they are targeted to neighborhood where property is located so folks who will actually see them are buyers or tenants who are already driving neighborhood looking for properties. The second group of people who will see signs are residents who already live there. Many times nearby residents will have family or friends who want to move into neighborhood.
Flyers delivered to neighborhood will also accomplish notification aspect that there's an available property, but what flyers don't do is lead prospect or prospect's friend straight to front door.
Why Not Just Use Typical Bandit Signs?
For those that don't know, bandit signs are road-side signs that many people utilize to advertise their business, favorite politician, and/or properties for sale or lease. The signs come in many colors and sizes, some professionally done and some hand-written. The nickname bandit signs stems from fact that many municipalities have sign ordinances that prohibit their use or restrict use in public domain or right of way.
The primary weakness of typical bandit signs for marketing a property for sale or lease is that sign provides a little information (often impossible to read while driving by) and a phone number. If I'm out looking for properties today, I don't want to leave a message or turn around to go see what sign said. I want to drive by NOW, not tomorrow, not later today, right now.
How is a Directional Arrow Sign Different?
Who said anything about one directional sign? I'm talking an entire series of signs that leads prospect from main thoroughfare all way through neighborhood to driveway of your property. There's no thinking, major squinting, turning around, or phone calls involved here. "Oh, honey, turn there quick." Then it's "look, there's another sign, turn there." etc., all way to property. Then, of course, there's more information including contact numbers available at property.
Okay, So How Do I Implement This Technique?
Here's way I do it and you should tweak it and improve to suit you. When a property becomes available, I study neighborhood and determine "best" ways to lead prospects to my property. By "best", I take into consideration ease of navigation, neighborhood amenities like parks and schools, and surrounding properties. If there's a back way into subdivision or location, I map out both paths.
My target locations are every single corner that my prospects will need to turn in order to get to property. If there's a really long stretch without a turn, then I might need a directional arrow in middle of that stretch to keep them coming. My experience has been that I will have to replace signs within neighborhood only a few times, but I have to monitor signs on major roads and replace them fairly frequently. However, these signs tend to stay put much longer than a traditional bandit sign.
