Are Real Estate Professionals Wasting their Money on Newspapers?  

Real estate professionals continue to spend their money on print media, with diminished return, and in many cases their money is wasted. As a result of this shift, we are experiencing a major move from traditional newspaper print marketing to lower cost high return marketing. 

Listed Below are Five Concepts for Low Cost Personal Promotion and Marketing.

Websites: The National Association reports in their 2007 Home Buyers and Sellers Profile that 81% of all buyers start their home hunting efforts by use of the internet.

Referrals: Top producers are reporting that referrals now account for approximately 60 to 70 percent of all their business.

Sphere of Influence:  Effectively working your sphere of influence will produce high quality business over time. 

Online Social Networking: This is opening up a whole new world of unparalleled business opportunities that now connect people world wide. 

Person to Person Networking: People like to do business with people that they know, like, and trust. Business relationships take time and effort to develop. Make the commitment to networking. 

There are no quick fixes in personal promotion and marketing. Start from where you stand today and it will take about a year of continued effort to have your name recognized in your target market. Your efforts will be rewarded by a flow of customers and lower cost marketing.

 
Post is included in group: ABC's of Real Estate Marketing
Post is included in group: Lets Do Business, Florida!
Post is included in group: Marketing 101
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11 Comments on Are Real Estate Professionals Wasting Their Money On Newspapers?

AUG
09
2008

I will not waste one dollar on print advertising.  It doesn't work.  How can you expect to sell a home from a little picture and a couple words?  That's exactly what gets put into a newspaper ad.  We are in the middle of the internet craze, and that is where everyones money has to go.  Buyers are trying to do as much work as possible from their own computers.  So a message to the wise......internet...internet....internet.
1:38pm • #1

Are people still advertising in the newspaper?

 

Really, do they have typewriters too?

 

Jim
3:22pm • #2
AUG
10
2008
338,433 Points 3 Featured Posts

We have not done any print advertising for a few years now.
8:28am • #3
AUG
11
2008
1,740,492 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lou,

Why spend money when you don't have to and especially when it doesn't produce? Blogs, online listings, WOM, and referrals are great, free ways to attract traffic.

Steve
10:06pm • #4
123,685 Points 1 Featured Post

Jim, my former broker has their own in-house monthly mailer that lists most of their current listings.  Each month they have the admin staff and agents go through the rigors of selecting which listing they would like to put in the brochure.  They put the brochures throughout the County at different restaurants, stores, shops, etc.  Recently they went into full catalog mode and now they have several advertisers to help off-set the cost.

But on the other hand, I am in a small county and people do look forward to this monthly FREE brochure.  And we did get many calls from it.  I currently have a listing from a seller who saw my information on the brochure.
11:37pm • #5
AUG
12
2008

the newspaper is not only expensive but pointless another pointless activity are open houses. 
10:47am • #6

I Like to advertise in my community, that's it! 
10:54am • #7
AUG
13
2008
1 Featured Post

Lou,

The consumer today is exsposed to over 2000 messages on a daily basis. We have all learned to tune out the clutter. The only way to break through that barrier is to have your message delivered by a trusted source. All of the concepts you have listed can come under the heading "trusted source". Good old fashoned word of mouth. Cheap and effective.
10:24pm • #8
AUG
14
2008

Ive heard that only 7% of sales come by way of print advertising!
2:51pm • #9

 

You are so correct!

The only reason anyone ever advertises in the newspaper anymore is open houses and to make SELLERS happy.  

I do advertise in homes catalogs as we still get lots of calls from them.  Other than that, everything else is via the internet.
4:53pm • #10
AUG
15
2008
170,755 Points 2 Featured Posts

Newspapers are struggling right now all over the country.  They are losing out to the internet, as they are losing advertising clients left and right.  It just doesn't make sense anymore to advertise in something that will be thrown away tomorrow.
4:10pm • #11


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