Out of Sight, Out of Mind | Do You Dare Cut Back on Marketing?

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763
http://activerain.com/droplet/5bm8

When a real estate agent looks at the MLS update every day and there are no new listings, it’s like being at the crap table on a losing day! The thought of spending more money is a “tough thought.”

The saying “out of sight, out of mind” comes to mind quickly, in reference to real estate calls. The thought from agents about cutting back or stopping for a period of time will always surface.  With some, there is no marketing money remaining.

Let’s say it as it is. This is a prime example of real estate being a “survival of the fittest business.” We can talk about methods that do not cost money, but one needs to reach the masses. Networking to small groups takes time to produce a lead.

Offline marketing is the most expensive method, with the exception of networking, cold calling and door knocking.  Calling is annoying to many homeowners; and door knocking is a lifelong process. Remember, real estate prospecting is a numbers game. That could be a hundred miles of walking.

Market to the masses or grow old marketing. Out of sight, out of mind will happen to you. You must be visible to survive in this extreme sellers’ market.

If your name has been branded in an area, and no one sees it consistently any longer, “THEY WILL FORGET IT.”  Those who market will pick up that ball and run with it.

I’m noticing area offices that recruit every week and will hire anyone with a pulse and a license (the emphasis is on license!) I’m seeing marketing pieces in the newspaper with the faces of 40+ agents and a total of 6 listings. 

We cleaned house last year, and our team is a small team of productive agents.  I DARE NOT CUT BACK ON MY MARKETING. Every monthly mailing has a couple of calls and, from it, a couple of new listings. That’s slim, but I dare not stop.  There is residual business that comes from each listing, and that covers the mailing and some profit for me.

It’s always a “crap shoot,” and with every check written to the post office, the thought of “out of sight, out of mind” flashes past me.  It passes quickly, and that’s the bottom line. 

I wonder how others think about marketing selections. What methods are others using? There can’t be much offline marketing, and online marketing is not always free. Usually, nothing free is worth doing.   

Those who cut-back on marketing and/or eliminate it completely will be out of business.  This is how the market controls agents who are not survivors.

Weather the storm as well as you are able. The market will change, and maybe you will approach it differently during the next cycle. Always prepare for the worst because it WILL arrive.

Just a very long thought for the moment…..

Posted by

       

Barbara Todaro, sales manager of RE/MAX Executive Realty 

Marketing Agent for The Todaro Team

308 W. Central St...suite E

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

Exclusive Marketing Agent for The Todaro Team

 

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Rainmaker
1,370,072
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

Stop and start marketing is the reason so many agents experience a roller coaster income - or drop out entirely.

Mar 17, 2018 02:15 PM #9
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

there's NO stopping in real estate marketing Marte Cliff no gaps....no voids....

Mar 17, 2018 02:20 PM #10
Ambassador
3,426,659
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Barbara visibility is a MUST.  If our clients are out of sight to us, we will be out of sight to them.

Mar 17, 2018 03:00 PM #11
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

George Souto exactly..... stay visible to them and they will be to use, too, when they're ready to buy and/or sell....

Mar 17, 2018 03:13 PM #12
Rainmaker
2,109,035
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

In the past, I would experience dry spells with marketing.  I couldn't seem to work through them, no matter what I threw at it.  But, just as quickly as that cycle came, it would leave, and the phone wouldn't stop ringing.  I think the weather has a lot to do with it.

Mar 17, 2018 03:53 PM #13
Rainmaker
2,109,035
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Barbara, on having this blog FEATURED in the Old Farts Club group!    

Mar 17, 2018 03:54 PM #14
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hi Myrl Jeffcoat I think that happens to most.... once the phone starts ringing, the flow begins.... 

Thanks so much for the Feature in the Old Farts Club....

Mar 17, 2018 04:03 PM #15
Rainmaker
2,375,358
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Barbara.

It's been a long time coming, right now in my area the tide is starting to turn from a sellers market to a buyers one.  I suspect it may take another year but it is coming

Mar 18, 2018 02:53 AM #16
Rainmaker
2,704,447
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

A consistent presence is monumental to consistent business she said to the choir.

Mar 18, 2018 05:03 AM #17
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

James Dray I hope it reaches Massachusetts soon.... I'd like to see a level market around the corner....

Sally K. & David L. Hanson  you're the marketing expert and you know the importance of consistency....

Mar 18, 2018 05:28 AM #18
Rainmaker
3,355,212
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Barbara Todaro ,

You are so on target with this post! You must be out there marketing like you mean it..relentlessly! My fourth quarter is always busy but I find time to market my sales and listings and keeping my face out there to get those calls for the first quarter..I even kicked it up a notch and the results are definitely showing. I'm not a team but the calls I'm getting and listings I'm taking are more than some teams in my area. Three more this week-end! All due to my consist marketing..they know who I am and my listings are selling!

Mar 18, 2018 06:07 AM #19
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Dorie Dillard......the longer you continue with your aggressive marketing, the more business will continue to fall in your lap....

Mar 18, 2018 06:13 AM #20
Rainmaker
3,436,124
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Barbara, you will never know where the next transaction will come from, so off-line and on-line marketing does need to continue!  Great post.

Mar 18, 2018 07:07 AM #21
Rainmaker
1,672,329
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Good Morning Barbara Todaro - What great points to ponder! You did a great job giving me a wake-up call before my first cup of coffee today! I really appreciated what you wrote and especially comments by Marte Cliff and Dorie Dillard. There is no guaranteed income in this business. I think that's why so many people who lose their Corporate jobs get so anxious and depressed. When you think about it, there is no fast track to success in any business. It's what happens long-term that makes a difference and for that you just can't jump the track and give up. This one is definitely feature worthy and I hope the AR staff behind the scenes are drinking coffee too and will get it featured for you.    

Mar 18, 2018 07:27 AM #22
Rainmaker
1,879,048
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It sounds like it is pretty bad in your area, but as long as you are staying profitable, it is certainly worth doing.  Marketing can indeed be expensive and when the market it good, we can afford it, but in a tight market where we aren't drawing as much income, it is hard to spend the marketing dollars, rather than pay a mortgage.

Mar 18, 2018 07:41 AM #23
Rainmaker
2,517,603
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Barbara, Thanks for the advice,  I am slowing down in business so I kick my direct mailers up because of what you taught me a long time ago..

 

Mar 18, 2018 08:20 AM #24
Rainmaker
1,959,127
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

This is one of the reasons I love online marketing and why that approach works so well for me. It's the gift that keeps on giving to me even after I stop producing. Of course, it's not like the old days of 15 years ago. Lots of SEO out there now to contend with but I still rank high enough to be found.

Mar 18, 2018 08:46 AM #25
Rainmaker
1,441,911
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

I renewed my marketing in my farm and went from being a lady in waiting to being the Queen of Kenwood Forest again - and determined never to make the mistake of cutting back again - 

Apr 16, 2018 08:20 AM #26
Rainmaker
4,164,758
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Lise Howe never "cutback".... when you make a good business decision to invest a few dollars, it will come back to you tenfold.... maybe more...

Apr 16, 2018 08:24 AM #27
Rainmaker
1,441,911
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Barbara - you are so right - I figure that I will invest less than $10,000 in my one farm and make 9 to 10 times that - insane not to keep farming 

Apr 16, 2018 08:32 AM #28
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