well I guess most of you have had this problem in your real estate business. How to get more listing? That seem to be the problem with our team in the last 6 months. As we all know the real estate market has been on a down turn here in the state of Texas. What appears to happen with our team. Is we would get listing but it was always individuals who were either in pre foreclosure or some type of dispute with the former spouse over the property.Others who love the home so much because they would not lower there price and we would loss the listing because the property was listed to high. Probably the worse case is the individual who has been a FSBO and they have not being able to sell so they come to you.Beat you up on your commission and refuse to take your advice. You reduce your commission list the house and it does not sell in the 90 day listing that most want.What happen's you lose money,time and effort on advertising a listing that will not sell in the short term.This not the way to get a listing. However when you new most will and do take the listing. It will cost you in the end.
What we did in 2007 was trying just about every type of advertisement that produce little or know result. The Reason I'm writing this blog today is to let the new Realtor beware of all of the hype. What happen to most of us who want to be successful in this market find out early that you will spend a lot of money in trying to get more business and then after two years you quit. Some of the advertising I will mention not by name but buy what they offer.
Our first adventure in buying advertising was a failure from the start. We want to advertise in a National Real Estate book to sell our homes we had listed and get leads. For six months they repeatedly ran the ad wrong.Either the price was wrong on the home or the lay out was totally wrong. At a price of over $250 per month not once did the get it right.Not only did they not get it right the Rep for that area never contact us after the first meeting and we finally had to go to the local office in trying to get it done right with no avail. No return on your money so beware.
Our second try at purchasing advertisement was with the local Newspaper. We had little of no success.We had several calls but nothing serious. What we found out most people who was reading the ads was either just curious or want such a deal that you would never get it done. It would become such a waste of time and money. Running and ad in the paper will work however you must target your market and have enough money to run the ad for a long period of time. You can and will get leads. The problem is you must run your ad on a consistent bases. New Realtor this could be costly.
One of the most interesting and costly to you as a Realtor is buying leads. We tried more than one of the lead generation sources. We had little or no success.Some of the problems we faced was information that the companies Sold on the leads. They tell you that you are the only one in that area who will see or receive the lead.That is not a true statement. what the companies do is sell you a lead from a source that they give away free to any who comes to there website looking for information on buying or selling a home. They in turn sell that information you and I for $25-100 depending on the company and there are many. They Then sell this information2-4 or more Realtor the same leadin the same local area.The company makes a ton on money on leads that are pretty weak. The reason I say this is when you call the lead,you get all kinds of response.Here a few I experienced.We were just looking and I had to give the information in-order to get the informationI wanted. I"m just a kid on my computer and My parent or thinking about moving. I have my own Realtor. Do not call me again! I have had five or six Realtors call me already and I'm not interested. I could go on however you may be getting the picture. At $60 a lead you call and complain and it does no go your just out of the money. You see the lead company has made there money and they could care less if you do are not. Do this for a month are two and you may get a good lead as long as you set by your computer waiting for an alert to let you know that you have a new lead. I did that when I call I was already to late. Don't get me wrong sometime you get lucky and find someone who really need your help. With this I would be careful who you work with because it will cost you money.
Website: Well we all must have one to compete in this type of market place. I will make this brief,I have try many website to include the one you get with your Real Estate company. Must of them can and do help you in getting new leads. The problem you again have to spend a ton of money on developing,linking SOE and much more in order for your website to produce the results you want. Just be careful on what you purchase. I like many of the one's I seen but none so far has generated me any leads. The website I like the most and I think will generate those leads that we need to survive in this Real Estate environment is www.agentpanelgold. check it out and if you like it give Reese Clark the referral. I do believe that it can and will grow your business.
In the final analysis is you don't know what going to work for you?What you do know is that you need leads to survive. What you have to do is make good choices.I hope that I given you a Little insight on the cost of building your business. Last but not least how to use your limited ad budget to something that will work for you.
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