To some, it may be a tough time in real estate; to the optimist, it's the perfect opportunity to build their business!
In the past couple of weeks I have been talking to many agents who are holding back all their pennies due to the drop in the market. I constantly hear them telling me how terrible their business is and how this is not the time to be spending the bucks. Those agents don't sound very confident, and if it were me looking for an agent, I wouldn't want them to be mine! I want someone enthusiastic about selling my house! No one likes a Debbie Downer!
This could actually be an opportunity to spend a little and get a lot back! While their competition is holding back and pulling their ads, they can step in and catch the attention of their competitions customers! No matter where the market is, there will always be buyers and sellers.
Today I spoke with a friend of mine who sells ad spots for a weekly local news and classified ads circulation. I asked him about how they are doing with real estate sales. He said they are actually picking up sales a bit more because they are cheaper than the daily newspaper so agents are finding alternatives to keeping their name out there. Rather than taking their retreating advertising budget and throwing it into one pricey place or pulling out completely, they are spreading it out and getting a little bit of recognition here and there with the more affordable alternatives. This avoids them pulling their name completely from the consumers mind and also reaches different targets.
Other marketing efforts like affordable technology solutions, provide an option to save on your flyers, provide your consumers with listing information they can walk away with stored in their cell phone AND captures leads for you so you can call them back. You could be the first agent on their radar giving you the upper hand to making them your client. Check out www.goomzee.com for more information on this kind of service!
Finally, because agents are decreasing their spend, this increases the advertising space available in a hurting publication. You will likely be able to negotiate something and get a cheaper price! Hey, you're a salesman, too - everything is negotiable!
“Surprisingly, when the economy slows it pays to keep talking. In fact, studies cited in the AAAAs booklet, "Advertising in a Recession," show that those companies maintaining or increasing their ad spending will emerge from a downturn ahead of their competition. That gain, measured in sales, net income or market share, will continue to grow in the years following the recession.” When Times Get Tough, the Tough Keep Talking - by Marianne Kirchner
Happy affordable marketing!
Erika
Ryan - haha. I'm sure the negativity spreads like wildfire! Try to look away!
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