Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty )

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Rainmaker
2,304,926
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

If I believed there was a real ROI by going over budget, I certainly would.

Apr 14, 2018 01:41 PM
Rainmaker
2,587,967
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I exceed when needed. There are times when listings slow down and you need to pick it up. There is times things are red hot and sell so fast you need more to sell. I like to review monthly and adjust as needed. What works, what isnt and change accordingly

Apr 14, 2018 01:36 PM
Rainmaker
2,827,931
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Budgets are guidelines for me. Life happens.

Apr 14, 2018 02:56 PM
Rainmaker
2,561,781
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Absolutely will exceed the marketing budget to increase business.  In fact, I am doing that now.  Will it work? We shall see. 

Apr 14, 2018 03:38 PM
Rainmaker
2,247,032
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If I get a high end product I will spend more

Apr 14, 2018 02:15 PM
Rainmaker
1,349,738
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

You might have to fudge a bit depending on the circumstances. Maybe sell a few more in an area & do an extra mailing, etc.

Apr 14, 2018 01:40 PM
Rainmaker
581,199
Richard Bazinet /MBA, CRS, ABR
AZuRE Team - Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes... often there are marketing opportunities beyond the planned budget. In fact, I would say it's a common and frequent occurrence. Got to keep flexible.

Apr 14, 2018 04:59 PM
Ambassador
1,988,624
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Is there a good chance of seeing a return?   Then go over.   If it's a crap shoot, pass on it.

Apr 14, 2018 04:40 PM
Rainmaker
1,157,384
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

I don't budget in the sense of I have a certain amount set aside for advertising/marketing Barbara Todaro but I don't let it deplete my reserves either. If I think something is a pretty sure bet I go for it if the only way it effects my work load is to write up offers.

Apr 14, 2018 04:39 PM
Rainmaker
659,005
Joyce Marsh, Daytona Beach Florida
Premier Sotheby's International Realty - Daytona Beach, FL
Certified Luxury Specialist and Interior Designer

We establish a budget but adjust as needed due to market fluctuations or to take advantage of additional opportunities. 

Apr 14, 2018 04:37 PM
Rainmaker
769,835
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

I stick with my budget, given it's pretty mathematically predictable based on projected growth using last year as a baseline. It prevents "shiny object syndrome bankruptcy".

Apr 14, 2018 04:06 PM
Ambassador
2,435,329
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I actually now budget for overage in marketing! Yes, I budget my 'normal' and then add some cushion because for years, I found myself going over each and every year!

Now, when I hit the limit, which is rare, I'm done until January 1!

Apr 14, 2018 03:37 PM
Rainmaker
843,013
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

2007,2008 & 2009 took my comfort level far beyond the normal parameters. It's like they say: "When business is good you should advertise. When times are bad you must advertise"

Apr 14, 2018 03:01 PM
Rainmaker
2,562,259
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

I have been pretty good over the years staying within budget. Have exceeded budget a couple of years when I could justify the return.

Apr 14, 2018 02:38 PM
Rainmaker
447,558
Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

If what I was doing was working, and more would work better, yes.  If it's just another cold call, latest widget, got to have system, no. 

Apr 14, 2018 02:29 PM
Rainmaker
3,912,539
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Budget varies. 

Apr 14, 2018 02:14 PM
Rainmaker
4,501,125
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I have never been good with marketing budgets.

Apr 14, 2018 02:11 PM
Rainmaker
917,895
Corinne Guest, Managing Broker
Barrington Realty Company - Barrington, IL
Barrington, a Luxury, Country Suburban Lifestyle.

Set aside an annual budget based on expected years income. Yes currently starting a new project, so will draw an increased amount and  check the ROI before continuing. It's all a try, test and hopefully repeat to increase business.

Apr 15, 2018 12:11 PM
Rainmaker
547,945
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yes unless no and no unless yes.
Unless yes or no.
Sometimes it costs more to get the results that you want.
You can only project a budget for each project.
Hopefully you come in under.
LOL, it's a lot like life!

Apr 14, 2018 05:57 PM
Rainer
440,921
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I stay within my budget. I am happy with the business I have and I don't believe it will increase my business. I am in the RBC bank, hockey arena and news papers. I use to do postcard/flyers every couple of weeks I have cut those out and my business has not changed. I find most of my business comes from referrals.

Apr 14, 2018 03:05 PM
Rainmaker
3,509,896
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I set a budget that does not go down but usually goes up as needed!

Apr 14, 2018 03:01 PM
Rainmaker
1,045,114
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Depends on the opportunity presenting itself.

Apr 15, 2018 09:15 AM
Rainmaker
2,823,445
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Our marketing department has a budget of about $75K a month...

Apr 15, 2018 05:37 AM
Rainmaker
1,308,117
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Yes, if I believe it is necessary.

Apr 14, 2018 08:26 PM
Ambassador
3,303,099
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I spend very little on mktg, mostly my time on the net, which I often exceed the budget on.

Apr 14, 2018 07:38 PM
Rainmaker
3,637,429
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Barbara,

It depends, and we are always looking for opportunities. A

Apr 14, 2018 06:15 PM
Ambassador
3,586,359
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I stick to my budget but if something comes along I am willing to shift categories.

Apr 14, 2018 05:00 PM
Rainmaker
52,039
Steve Bracero
Heisler and Mattson - Shrewsbury, MA
First Time Homebuyer and Investor Specialist

if something works... increase it! 

Apr 15, 2018 06:47 PM
Rainer
29,035
Christopher Leo
Status 5 Studio, Inc. - Sunnyvale, CA
Leading Agent Real Estate Marketing

I would suggest considering this: Marketing is a marathon, not a sprint. It is going to take time for you to establish yourself in your marketplace. Based on that, it is critically important that before you increase your budget, you take an honest look at what that may do to your overall ability to continue marketing yourself in the future. 

For instance, if you just started a brand new campaign in a neighborhood, I'd suggest that it will take minimum 6-8 months to establish yourself in the minds of homeowners. Based on that, let's say it's now month 2. If you take a hard, honest look at your budget and you can see that without a big result from the extra cash outlay, you are going to be really lean, trying to cover your marketing in months, 5-8, then I'd say don't.

The most important thing in starting any new marketing campaign is making sure you have some sort of measurment/analytical capabilities in place, so you can make educated decisions. When you have a firmm grasp on the outcomes of your marketing efforts, rather than spending more to try something new, you can divert funds from a flailing marketing initiative, to the one you want to beef up. The net change in expense to you will be zero that way :)

 

Apr 15, 2018 02:04 PM
Ambassador
2,661,399
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Like you Barbara Todaro we have an unlimited budget and we sometimes exceed it. 

Apr 15, 2018 10:43 AM
Ambassador
1,322,798
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

In my business model I get sponsors to take care of overage.

Apr 15, 2018 10:13 AM
Rainmaker
2,780,733
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

We have on many occasions exceeded our budget. We do what we need to do to keep our business successful.

Apr 15, 2018 07:25 AM
Rainmaker
4,147,942
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I rarely exceed my budget.

Apr 15, 2018 05:29 AM
Rainmaker
1,690,221
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I just sponsored a Next Door.com Zip Code that wasn't in the budget

Apr 15, 2018 03:50 AM
Rainmaker
481,198
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

It's tempting to spend more, but I set a budget and stay within it. I do try different things to see what works, so my commitment is not so lengthy that I can't change courses somewhere within the year.

Apr 14, 2018 11:30 PM
Ambassador
2,643,873
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

It all depends on how my year is going but for the most part I stick to my budget...

Apr 14, 2018 10:51 PM
Ambassador
3,856,536
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Barbara Todaro - If some of the marketing works, I do spend more money there!

Apr 14, 2018 10:32 PM
Rainmaker
622,208
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

We have remained within budget for years. We even reduced expenses two years ago and exceeded income. -K

Apr 14, 2018 09:30 PM
Rainmaker
831,134
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Mailing is expensive. W/o marketing one always wonder if he missed out something. The die hard agents brings 35,000 cards every 2 weeks.

Apr 14, 2018 09:07 PM
Rainmaker
655,294
Pete Xavier with X Group Real Estate Advocates
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Though I'm in a different industry, my marketing expenses has been gradually increasing, and it has been paying off!

Apr 14, 2018 06:31 PM
Ambassador
2,693,374
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I make adjustments generally every 60 days based on return.  I don't expect a return immediately though, I give everything a 12 month test period before I cancel unless I'm not getting the service I expect.   But I have used things for years before and tracked them going right in the toilet and after a period of decline I will generally re allocate those funds to something different.  I do keep track.

Apr 15, 2018 10:07 PM
Rainmaker
512,034
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If I think that is going to be a benefit for spending more that I planned, I am willing to do it.

Apr 15, 2018 07:27 PM
Rainmaker
262,101
David Martin
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality

My budget goes up as my income does I try to stay within a percentage based expenditury Barbara Todaro  how do you do yours?

Apr 19, 2018 05:58 PM
Rainmaker
3,437,806
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

As you have said often --- you have to invest financially in your business.  I send out mailings when needed.

Apr 18, 2018 07:42 AM