Which real estate marketing method works best for you?
Do you know?
Do you have any arrangements to monitor where your customers and clients are coming from? Or do you just “do some things” and hope they work?
Unfortunately, most realtors and real estate agencies only follow the crowd, marketing the same real estate as everyone else so that they have a presence elsewhere.
For example, everyone keeps their home for sunday magazine or local homes magazine for sale ads. And if the two organizations sign up to support the local booster club by posting team photos, each one has to follow the case or they are “looking bad.”
It’s not a coincidence, but it’s for a simple reason: Most agents and agencies don’t know where their business is coming from!
If you knew you had a lion’s share of your customers from your web page, would you work harder to promote the web page?
If you knew that the dollars you spent on a whole page in Holmes Magazine didn’t make a call for the past months, would you stop advertising there?
If you knew your newsletter had brought you 2 or 3 new lists every month, would you mail more newsletters?
If you knew that classified ads didn’t work in any way, would you keep them?
If you don’t set up a system to monitor where your calls, emails and walk-ins are coming from, you won’t know anything about them.
Start now, so you’ll know in a few months where you’ll have to spend your real estate marketing dollars – and where to spend it.
Create a chart for advertising in different ways: websites, expected letters, postcards, homes magazines, newspapers (if you use multiple), flyer boxes, cable cards, etc., “reputation” and referrals.
Place your ads in a folder and date them, so you can go back later and see what worked.
Expand the referral column in your chart more than anyone else… So you can write the name of the person you mentioned instead of a checkmark. Then be confident about sending a thank you card or make a thank you phone call in a very short time. When you show appreciation for the support provided, you will get more.
Make sure that your chart has a place to write the name of a new customer or client, as the second step in recording records is to see how many closed transactions were resulting in these leads.
If an ad space searches you in large quantities, it may attract the wrong people if it is not sold.
Just creating your chart is not enough. Once it’s done to you, you’ll need to use it. It means asking people how they got you. Some agents are reluctant to do that. If you’re one of them… Excited by it! It’s your career and your money that we’re talking about!
Keep your chart, and sit and read at the end of a week or a month. Find out how many people came to you from each source. Of course, balance each time you use it.
The last step is to compare how much you have spent on each form of real estate marketing, and how many closed transactions result.
You can either completely delete some forms of advertising, or improve the messages you send. If newspaper ads work for a week and the other is not; It’s time to get these ads out of the folder and study what you’ve done.
It shouldn’t take more than an hour or two a week to maintain this record – and it can save you hundreds even if you don’t have thousands of ads.