We hear about homes being sold in and around our area all the time. Last quarter there were thousands and thousands of homes sold. In North Texas that is certainly true. If you missed it, my last post was - 2008 Real Estate Recap in North Texas. No matter where you live or what your farm area is, did your marketing efforts yield the return you expected?
Over the past few months, I have spoken with many agents. Each of them said it use to be that you could simply mail a postcard to your farm area and you would get a half dozen leads with one of them converting into a listing. Today its much more competitive.
How can your marketing compete for attention when there are over 10,000 licensed Realtors(r) for your area bidding for the same area? If your marketing isn't producing results, someone else's is. Homes are selling (not quite like hotcakes anymore... but they are selling). If your marketing is falling short of your expectations, than you're losing opportunities. And if that wasn't bad enough, with no leads it can create some strong emotional stress. One particular agent I spoke with last month said she's lost some listings because she knows during her presentation that she came across too desperate for the sale. Some call this 'commission breath'.
There are two major things that hold back your ROI:
- Consistency - To have impact, your message must reach the same audience multiple times. Studies show that people won't take any sort of action until they've seen your message at least 7 times. Thats a lot of messages, but thats the average.
- Changing Your Audience - Every successful agent I've known had one thing in common; they marketed to the same farm for years. You don't need to get a new audience just because your marketing does not generate leads after the first 2 or 3 mailings. You should not change your audience until the well is dry and when does that really happen?
Fortunately, the above items are easy to fix. First, commit to achieving more consistency in your marketing. Don't give up too soon because you're not happy with the results. Families need to become familiar with you before they'll consider doing business with you. Second, pick a farm and stay there. Your goal should be to become the "Neighborhood Realtor (r)". Anytime a neighbor in your farm area is thinking about selling or buying a home, they think of you first.
If you need help with your marketing efforts, here are some familiar faces here on ActiveRain that may be able to assist:
Rebecca Livingston - "Real Marketing for your Real Estate Vision" - Rebeccca is the owner of Real Skillz in Wisconsin. She is always blogging about marketing, social media, and the latest and greatest tools available to you. She can also be followed in twitter @Rebeccalev
Katerina Gasset - Wellington Homes in Florida. I'm sure you know Katerina so she does not really need an introduction, but just in case. Katerina and Nestor are both Realtors. For years, they have been fine tuning their marketing efforts and offer a unique program which includes 'hands on' training to ensure success. Katerina can also be followed in twiitter @CoachKaterina
Clint Miller - Real Estate Client Referrals in Montana. Clint actually offers a more unique program which includes providing leads. I would not be able to do his program justice by explaining it, but I suggest you stop by his webpage or give him a call for further clarification. I can say that his Referrals Program is not like typical Lead Generations. Also on twitter @recr
Bottom line... Make it happen, don't wait for it to happen. I wish you the best in 2009.
Since you are following people on twitter... look me up @jcannata
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John,
I find it interesting how you always intertwine yourself with marketing/open houses and Realtor functions. I wish my lenders would.. I did just get a NEW one that is pretty freaking awesome. I found him here in the Rain!
Nice blog btw ..