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Well, I guess since I've written several different stories to help others avoid some of the costly mistakes that I've made, I might as well add one more.  I've actually considered writing a book on "how to keep some of your money for yourself and not give it to people who claim to be able to put your name on the top of everyone's list for a real estate agent."  I know, it's a very long title for a book, but I think you should be able to get the jest of it.  I didn't realize that I was such a sucker for advertising.  I've always said, "it takes money to make money."  Well, maybe in some cases it actually works, LOL.

Since becomming an agent earlier this year, I've literally spent thousands of dollars in advertising money.  I spent over $4200.00 for ads in 2 of our local grocery stores by buying ad spots on the fronts of the carts.  I later found out that the ads were falling onto the floor and the employees didn't know what to do with them, so they trashed them.  The company I have a contract with was supposed to replace any lost or missing ads.  (I had to threaten them with legal action to get that accomplished.)  And now, for many weeks, my newly installed ads are still sitting in the "extra storage" coral up against the building because they can't seem to make their way into the store.  (even though I've complained to store management numerous times.)  To put it mildly, this has been a nightmare!

I bought the whole back cover of our new local phone book for a mere $2200.00.  (it's not out yet, so I don't know if it'll do much good or not.)

I've spent hundreds of dollars on postage.  I've done various kinds of mailings and post cards, etc.

I'm on an "automatic" mailing campaign with a marketing company.  It's personally addressed to the actual homeowners.  They are sent "updates" on their neighborhood sales and other information.

I could go on and on, but I'll just stop here.  The bottom line is this:  Save most of your marketing money until you can actually afford to put it out there.  Walk your farming areas and meet the people one on one.  (I sure could use the exercise anyway)  Attend as many local and city functions as possible.  Volunteer at a local nursing home or for activities for the kids in the area.  There are so many ways to get your name and face out to the public and not have to spend your life savings doing so.  I'm not saying don't spend any money on ads, just spend it a little more wisely than I did!

 

 

3 Comments on Advertising budget

Marty - You need to scroll over to "Selling with Soul", Jennifer Allan's blog on AR. Stop spending money on strangers. There is a reason that solicitation is unlawful in most states. You have more sources of developing you  business than you realize. Trust me................do a search............read....and then go out become the success you know is waiting to happen.

10/22/2007 09:49 PM by John MacArthur The MacArthur Group (Long and Foster Real Estate, Inc.)


Marty, good post but I think all that you've done is not in vain.  You are simply planting the seeds.  You might not see returns on your investment right away, but your "presence" in the community will start to bring the harvest sooner or later.  We've all spent money where we thought would impact our business in a positive way only to find out later, our money could have been spent more wisely in other areas.  Great post!

10/22/2007 10:03 PM by Christopher Smith (Traditions Real Estate)


Good topic!  I hate to say it but there are too many ways to waste money on advertising.  I try to do it in ways where it is hard for customers to miss and can't really be screwed up by the advertising company.  I had a similar experience where we had our coupons at the checkout of a national chain.  We had to rely on their employees to put them out.  We didn't have control; not a good situation.

I also always seed my office address in any mailing to ensure it goes out.  You would be surprised....

Your right, for your line business, its more important to make a couple of strong relationships than throw your name out to 100's of people that are just going to ask a friend for a name of a realtor.  I have found chambers of commerce a great place to make strong relationships.

-E

 

10/22/2007 10:09 PM by Eric Blum, Franchise Partner, 1-800-GOT-JUNK? (1-800-GOT-JUNK?)


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Real Estate Agent: Martin (Marty) Snyder (Coldwell Banker Heritage Realtors)
Martin (Marty) Snyder
Monroe, OH
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Coldwell Banker Heritage Realtors

Office Phone: (937) 353-4547
Cell Phone: (513) 292-9374
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Monroe Ohio


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