How much do you invest? Well you should have a budget in place, just like any successful business does. Many agents are a SECRET, well that may be good thing if you work for the CIA, but in real estate you want to be very public and on radar.
Sometime ago I read stats put out by NAR that Realtors who make $32,000 or less spend an average of 11% on marketing, while their more successful counterparts, who were making $100,000 or more spent on average 25% or more. I see a direct correlation to success here, don’t you? You know the old adage, “You must spend money to make it.” Well it’s true. John Maxwell in his book Today Matters writes. Successful people do what unsuccessful people simply will not do.”
New Realtors need to spend even more, and I have heard the experts put this number as high as 70% of their income. Let’s think about this for a moment, you’re in a new business, ever notice, how when a new product such as a breakfast cereal, soap detergent or a new model car coming on the market the ad’s on TV are much longer maybe 20-30 seconds for the first couple of weeks, and then they cut them back to 15 second abbreviated clips. New agents need to adopt these successful marketing strategies. More marketing gets you on the buyer’s and seller’s radar isn’t that what you want?
Sit down with your broker or manager and figure out where your $$$$ are best spent, such as farming, websites, break it down, marketing of your listings, self promotion, what size neighborhood does my budget allow me to farm on a monthly basis. I can tell you that consistency is king, you are better off with a small neighborhood with monthly contact that a large one that you reach infrequently. Should your Manager or Broker not have time, give me a call, I’d be happy to help you.
So let’s stop being secret agents and get on the radar screen, the bigger the better.
Look forward to your opinions and comments.
Sometime ago I read stats put out by NAR that Realtors who make $32,000 or less spend an average of 11% on marketing, while their more successful counterparts, who were making $100,000 or more spent on average 25% or more. I see a direct correlation to success here, don’t you? You know the old adage, “You must spend money to make it.” Well it’s true. John Maxwell in his book Today Matters writes. Successful people do what unsuccessful people simply will not do.”
New Realtors need to spend even more, and I have heard the experts put this number as high as 70% of their income. Let’s think about this for a moment, you’re in a new business, ever notice, how when a new product such as a breakfast cereal, soap detergent or a new model car coming on the market the ad’s on TV are much longer maybe 20-30 seconds for the first couple of weeks, and then they cut them back to 15 second abbreviated clips. New agents need to adopt these successful marketing strategies. More marketing gets you on the buyer’s and seller’s radar isn’t that what you want?
Sit down with your broker or manager and figure out where your $$$$ are best spent, such as farming, websites, break it down, marketing of your listings, self promotion, what size neighborhood does my budget allow me to farm on a monthly basis. I can tell you that consistency is king, you are better off with a small neighborhood with monthly contact that a large one that you reach infrequently. Should your Manager or Broker not have time, give me a call, I’d be happy to help you.
So let’s stop being secret agents and get on the radar screen, the bigger the better.
Look forward to your opinions and comments.
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