Here is a helpful matrix I give my agents regarding marketing.  This shows the per piece price of marketing materials and how much it actually costs to market based on increasing sizes of market areas. 

Money is tight for new agents (all agents) so using marketing money wisely is very important. I suggest agents buy all their marketing material up front and have a plan to send out a marketing piece every two to three weeks.  They probably want to buy enough materials for ten mailings/distributions. 

This plan allocated .26 cents for direct mail.  We have a direct mail center in house and can offer our agents low cost bulk mail.  If they have to use first class postage the cost goes up.  Agents can save money by distributing items door to door or in the bottom newspaper box.  Never put anything in a mail box unless you want to get a very nasty call from the Postmaster.

Our suppliers are:

(This matrix first shows the per piece cost of marketing materials and then the cost of the combined mailing for various market sizes)

Postcards ($349 for 2,500)0.1360.1360.1360.1360.136
notepads 0.190.190.190.190.19
magnets0.50.50.50.50.5
envelopes0.050.050.050.050.05
postage0.260.260.260.260.26
door hanging bags0.10.010.010.010.01
newsletter0.0350.0350.0350.035

0.035

Neighborhood/market size25050075010001250
Event #1 - Post card (includes postage)100188282376470
Event #2 Note Pad (hand delivered with door hanger bag)47.595142.5190237.5
Event #3 -Post card (includes postage)100188282376470
Event #4 - Magnet (hand delivered with door hanger bag)125250375500625
Event #5 - Post Card (includes postage)100188282376470
Event #6 - Newsletter (hand delivered)8.7517.526.253543.75
Event #7 - Post Card (includes postage)100188282376470
Event #8- Post Card (includes postage)100188282376470
Event #9 - Note Pad (hand delivered)47.595142.5190237.5
Event #10 - Post Card (includes postage)100188282376470
Ten event Totals828.751585.52378.2531713963.75
 
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2 Comments on helpful guidelines for marketing

OCT
25
2007
Gary - great info, do you cover other areas besides richmond?  do you have marketing for mortage professionals?
12:09pm • #1

We stay pretty much in central Virginia.  The good thing for you is that you can easily target your market.  DPOR will provide (for free!) the mailing list of Realtors across the state. You can use excel to create your own targeted mailing lists.  VAR also provides the list but my guess is you have to be a member.  Your biggest challenge is that so many people drop stuff off to agents that sometimes things just get trashed.

I find that mortgage lenders really don't' market that well to agents.  You might try some of these same marketing techniques on agents. 

 

6:35pm • #2

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Gary Duda

Richmond, VA

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RE/MAX Action Real Estate

Address: 11551 Nuckols Road, Suite D, Glen Allen, VA, 23059

Office Phone: (804) 521-5601

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Gary's advice can help you take your real estate career to the next level. He also offers advice on buying and selling Real Estate in Richmond, Virginia and surrounding areas such as Henrico County, Chesterfield County, Hanover County, Richmond, Goochland.


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