I believe in today's time, internet marketing is the ONLY way to go.    I have held open houses, and the neighbors all come thru, and have TRIED off and on print ads, just in case - to no avail.    EVERY WHERE you can put a put on the net, it helps!

I totally agree with you.  Business comes come Internet marketing and referrals.  Active Rain is a great example of the changing times!

I've been beating my head against the wall for the last two years trying to get agents to understand.  That 90% number tells you what?  It tells you that "the sales starts with the online listing".  That is the training program that I created.  Buyers are going through, making note of, and eliminating the ones that don't interest them.  Thus, this selection process of choosing, is where the sale or purchase is starting.  With that in mind, how critical is it that your online listings are listed effectively?  Trust me on this, if you list your properties effectively.  They will not only do the marketing for you, but will actually do some of the selling for you.  

The focus for any Realtor should be to have a well indexed website and blog that is going to capture consumer traffic. In factI would suggest having multiple sites!

the world is going electronic & online

So true! Now we just need to keep educating our sellers so they won't insist on useless Open Houses and large ads in the paper.

Janice - While I am not a Realtor marketing listings, I have been marketing my mortgage services for my entire mortgage career (all eight years of it).  The only traditional marketing I still use are postcards to my local farm areas. 

My niche market is first time buyers and always has been and here in Los Angeles and Ventura counties, high-end apartment and condo complexes are a good resource for first time buyers.  However, in the past two years, I have seen a drop in both my responses and production from this marketing effort. 

Where these complexes used to be a good source for first time buyers, they have now become a source of retreat for many previous homeowners who either short sold their home or were foreclosed on.  These are not viable buyers for me and they are having a negative effect on my marketing efforts in these areas.  I need to either tweak my marketing a little or at some point will have to end the effort altogether.

The house should be on the first page of a Google and YouTube search.  One way to get there fast is with a Full Motion video tour.  I've been posting these videos since last year and everyone is on the first page of a YouTube search.  Link that video from your blogs and website and watch it move up through Google.

I agree, traditional marketing in some areas is a thing of the past. In smaller communities some of the things still may work. In our area I still pick up prospects on open houses, the newspaper is not generating as many calls as it used to and tour is just another socializing event for realtors. I am not a supporter of tour because I agree, the only homes that get seen are the ones serving food or giving gift cards. I am not wanting to ruin someones carpets with spagetti sauce. The internet is the way to go, young and older buyers look at the internet before they even get to a Realtor.

I noticed nobody has mentioned this will ultimately lower commissions...I offer a couple different online marketing plans at discount rates...the public is getting savvy to the fact we don't spend as much as we used to...this is so I can compete with the discount brokerage houses...I had over ten listings this way and sold all of them in the last 2 mos....there are different types of sellers out there, some are passive, and some are aggressive, and I cater to both....the seller makes the call.

Referring to David's comment "the sale starts with the online listing" I'd like to add that the pictures posted for that listing become even more important.  (insert plug for Home Staging here)  Since it only takes 5 seconds to create an opinion of something, those pictures need to be the all-important Marketing Hook.

I have had some luck doing targetted print advertising.  Running ads in smaller local papers and in our local edition of Homes & Land - both have get me a fair amount of leads.  Our big local paper is dead though.  The key with it all is taget marketing.

With open houses, I try to avoid them. But have had some decent luck if they are done on the very first weekend that the house is up for sale and then advertising the heck out of the open house.  You tend to get a lot of the neighbors through the property. Everyone is curious when a property first hits the market.

Internet is great too.  I get tons and tons of calls off of our internet ads and the MLS syndicates onto so many websites it is incredible.

The fact that buyers begin their search on the Internet is the reason why I harp at my ezine readers to write better ads. My first broker (back in the dark ages) said "Put the buyer in the home." She was right, but then the ADA and Fair Housing rules came along and made it tougher. 

But now, with the nearly unlimited space the Internet offers, there's no reason why home ads can't paint word pictures that entice buyers. You have to be more creative in how you word your ads, but when you're not limited to the space in a magazine or news ad, you can do it!

I don't agree with your comments.  I think in today's market you have to combine the old with the new.  I find that both open houses and news paper can work well when used correctly.  Office caravan and agents luncheons can still be a great tool.  You got to combine all the tools to better serve your clients.

In my neck of the woods Open Houses still work but it has to be priced right. It takes a mixture of all the different ways to really be effective.

Jan Marie: I'm so glad you posted this. Most agents seem to try to make you feel that you are the odd ball out there but my question I am always screaming is "Show me the results of your open house - or your broker tour"! It's time to have most of this stuff just die off. 

I was actually going to do a post where a long time agent in my office is now doing all this nonsense & calling it 'getting back to basics'.  I think it's more like 'selling for the dinosaurs'.  It's just not working - it's probably never worked because no one measured it for success.  I'm saying that if you hold 50 broker tours and not one person that comes thru ever sells your listing, then it's a failure.  Maybe I'm nuts wanting to see results.

You couldn't be more wrong with all your presumptions if you were over here in my neck of the woods.

Just remember that real estate is local.

The NAR report about 90% of people start their search online needs to be examined in more detail. First, start with the word start! If you dig deeper into the various reports, you'll also find that most people "start" their search in the evenings, after supper, putting the kids to bed, etc. What real estate office is open at that hour of the night? None. So where is the logical place to "start." Online! Of course. Now dig even deeper and ask where they found the house they bought, their Realtor, their home inspector, etc. It's nowhere near 90%. I might be able to accept 75% but I think even that is high. Granted, I've only been a Realtor for five years, but in that time it's been my experience, as well as those I interact with, that personal referrals for such an important function is much higher than finding a home or a Realtor online.

You might also remember what Warren Buffet says, "If everyone is doing something, do something else." By keeping to that mantra, one can differentiate oneself very well and create an extremely nice niche market which, by then also using personal referrals, can grow quite nicely.

Janice: Old or new the key is consistency. I'm aware of a mortgage loan officer who does brokers opens almost every Tuesday. She is well known in the area she works. Anything done over a period of time should yield results. I do hear you though about new trends. We all need to be aware of these. Adapt or perish is the world we live in these days. Thanks for the post!

We all know that 85% of people are looking for property on the internet.  With that said, I do think that some traditional ways of marketing might help.....it couldn't hurt!

Hi Jan Marie ~ I guess it depends on where you are.  Online methods work here certainly but so do lots of other avenues.

I'm not convinced that spending money in newspapers and magazines isn't worth doing - maybe not to sell a listing but to "sell" yourself - definitely still of value. Open houses remain an extremely effective part of the sales process here and ditto for broker open houses.

Again it depends on where you are - I was always mystified when I lived in NH in the 90s that they did so few OHs. The offices weren't open on Sundays either which I always found odd. Open houses are huge in my city and I don't see that changing anytime soon.

Liz

Thank you for the post.  I've just started doing open houses again, and have been very successful with them. 

I haven't used print in a long time, and I do pay premium dollars for placement and positioning on both Trulia and Realtor.com; and it has paid off in different ways for me.  Pricing as you say is key and I would add to that condition.  Sometimes you can get a little more dollar if your home is well maintained and shows/staged well.

Cindy in Indy

I am with the group of people that use a combination of both traditional and modern marketing methods such as the internet, social networking etc. I think if done right you can leverage both methods to maximize your marketing. I figure I will stop using traditional marketing methods when they are no longer available. Until then, I will keep doing both.

Warren McNeil in Kitchener-Waterloo

Marketing is definitely changing. Print ads are more for branding the agent than selling the house in our experience, unless you are doing targeted ads like Rob in comment #13. We are heavy internet marketers and it's working well for us.

I feel better after reading this because some of these marketing ideas are not working for me.  One idea I did want to question is the broker tour.  It's one thing to look at pictures on MLS but if a home is exceptional, don't you think it would get more agent attention if they actually view it in person?

Janice,

I disagree with the open house comment though. One listing I had I picked up 2 new listings and 3 buyers. With the sale of the house, that was 6 ends.

Hi Janice,

I am somewhat in agreement with you on the value of exposure. and that Internet marketing is probably the most effective.  I don't like doing open houses myself but it might be more of a location thing as at our office meetings each week, agents give reports on open houses they have done over the weekend and appear quite successful at times. So much so that it makes me consider doing them again. 

As far as Caravan tours, our MLS has tour every week for our area and I go for several reason and find it very beneficial.  I go because:

* It helps me keep an eye on our local market.

*I get an opportunity to network with agents.

*I go to look at houses that might fit my client needs as a way of previewing them.

And lastly- I agree with you comment on print advertising in general but in our small community of El Dorado Hills, we have a local weekly newspaper that is delivered free to all houses, and our company has the back page of that little paper.  We take turn advertising for the presence we make as an office.  It doesn't cost much and if nothing else lets the community now we are working.  

Thanks for your input and your post,

DeeDee

Open houses seem to be the preferred choice for most agents because it is the most cost effective way to get leads and it only requires your time.

I think you hit it on the head. Please, I hope my competitors all disagree with me and continue to market like it was 2006.

I prefer to not do Open Houses but Sellers seem to think its something Realtors have to do ... uuuggghhhh

Great post and I'm mulling over in my head as to how I translate & tell similar story for handyman businesses, and contractors in general.

The internet is the best place to advertise in my city, definitely!  Besides, it's free (mostly)!  Open houses can't hurt, so if I have the time slot, I will host one.

Jan Marie, traditional advertising is quickly becoming a thing of the past. The expense isn't worth the ROI. You can't beat the exposure the Internet can give you.

Brilliant post.  I couldn't agree more....

Newspapers and Magazines wouldn't be going out of business and Real Estate Publications wouldn't be offering enticing teaser advertisements to get $$$$ in the door print advertising actually worked.  My belief... if you are not familiarizing yourself with social media (networking), blogging and the latest and greatest social way to interact with clients - some may be hunting for a new profession sometime in the very near future.   

I am just a Mortgage Professional who has never sold a listing in his life but I have help market the heck out out of many listings with the partnership of many successful real estate professionals.

NAR does state that nearly 90% of all home buyers start their search on the internet without the assistance of an agent, but in that same "Profile of Home Buyers and Sellers" it states that nearly 2/3 of all buyers on the internet once they find a house they like will go look at that house either by driving by or stopping at an Open House.

The agents I work with combine new and old to get some dramatic results, we use Craigslist advertising to create interest in listings, generate buyer leads, and get new listings. We combine the efforts of multi user blog sites and individual listing web sites to get first page placement on Google and other search engines, we use music videos for our listings to get high rankings on many video search engines, Open Houses have been a success for them as well.

The agents I partner with have a detailed plan to Open House success that works, when you work the plan and set realistic expectations.

We use a form of call capture that generates leads, this is so old school that I think it has be around since before the telephone.

I absolutely believe if you want to get to buyers and sellers first you must combine old with new, blogging is important, SEO is important, being found on the internet is very important, but don't throw away the old school Open Houses work, Call Capture works, print ads can work, Sphere of Influence marketing works.

You must have a plan, work your plan and know that hope is not a plan. It also helps to have realistic expectations, measure your results to your expectations and get working on improving your plan....if needed.

Hi Janice, The new marketing is definitely via the internet.  Good riddance to print advertising; it isn't even worth the paper it is printed on.  ~Lisa

We just need to look at our own behavior outside of real estate to see where our marketing dollars should be spent. Who uses yellow pages any more to find an address, or do you go online and Google it.  Some print advertising may have a branding effect, but they didn't label it Internet without reason.  You can extend your reach so much farther.

Jan Marie ~ I do think most people today go online to start.  Living in a small town with a ton of second homes and its a vacation area, people love to pick up the buyers guide that is all over town in different areas.  I have to have a presence there but do most of my advertising on the net.  I do Open Houses and lately not many have been showing up.  It is a hit and miss.  Our regular Opens are for Brokers during the week and I do some on weekends and get the buyers.  I think what it ALL boils down to is Price, Location and does it fit their needs. They will find it, there is no magic way or wrong way but you better be on the inter-net. 

Congrats on your feature!

Interesting comments and I respect them but here is something I have been following for the last 3 years. In our board there are 1523 licensed to sell real estate and I have been following the top 50 in income and units sold, I am in that 50 and here is a fact.

All have a great web presence, all do open houses, all farm, all use direct marketing of some kind and only 1/2 use the local newspaper but all use a real estate magazine or a local neighbourhood publication.

Each to their own and I advocate being in your comfort zone but if you want to be in the top 5-8% in your area, market smart and track your results. Success leaves clues.

Ty

I recently listed a house for an ex-real estate agent who insisted I hold it open. Luckily, we got an offer before I had to do that!

I think Bob's (#39) response was the best I have read....get a plan! Perhaps it is not that the tools available to us no longer work, but that we need to revamp them, to change how we use them in a systematic plan for marketing. Maybe we should be having That discussion!

It certainly isn't what it used to be.  The public has moved toward the internet in a big way, so print has fast become obsolete.

Online marketing brings people to my open houses, where I get a chance to meet them and have a conversation with them.  Open houses are still a very big part of marketing a property in my area.

I would tend to agree with you.  However, open houses can be effective at capturing people that might otherwise over look the house.  Say a house that is "too small" or "too expensive" well they might come in on an impulse if it is open and decide they want it.

At one open I go on they have a list of homes and everyone goes to every home on the list.  The advantage of this is you see homes you might other wise bypass and sometimes find things that surprise you.

you are so right.  The only things that work are great internet marketing and the 24/7 Reallty info signs so I can capture the phone number and sell the house myself!

I agree with Karen in post #42.  We should all look at our own behavior in how we do things.  Do you use the classifieds (are they getting smaller every week).   Do you even have yellow pages in your  house anymore?  When you hear of a new product do you try to go to the store or do you first look it up online?   Chances are if you do it in your daily life, it might be a safe bet that others do as well.

I am a firm believer that any marketing can be good marketing (online, traditional, open houses, etc).  All can work in some form or another with variations depending on the market you serve.   The question I always ask is this:  "Is my marketing cost effective, timely, and a good use of my time".  I have to be able to afford it.   It needs be timely (real-time is the best!).  And I need to be able to manage it without requiring I put in double the hours just to get my marketing done.

Online is: 

• Timely - A listing or Just Sold notice can be communicated to my network, sphere, database, farm, etc within minutes of taking place.
• Low cost (free through Natural Search, Craigslist, Facebook, LinkedIn, Twitter, etc) or Pay Per Click getting exposure on Google, Bing, Yahoo, etc
• Effective use of time - there are incredible tools for everyone to use for having an online presence with advertising.  (this one can seem daunting at times but it's not really). 

Here in the Coachella Valley, California, I mix up my marketing.  Yes, internet is HUGE and essential.  I blog almost every day.  I update my website which is actually a blogsite almost every day with some local info.  I bought a large ad in Palm Springs Life because it is also digitally posted online and the magazine is SOLD, not given away.  People tend to hang onto that print media mag for at least a year.  I did generic advertising..not a property, just about me and what I specialize in in the Coachella Valley. 

I also love my jumbo post cards and continue to get results.  It helps me keep my past clients in touch.  I always hand write a note specifically for them on the bottom.  Takes many hours, but is effective. 

I hold Open Houses the first several Saturdays for new Listings, and do buy a box in our company double truck in the local paper for my listings.  I get calls from them every single week. 

I have just begun blogging for both Los Angeles and also Desert Area online newspapers..both by requst of them to me. 

It ALL matters and is time consuming and critical.  Welcome to the world of work..I was successful as a polo professional because I worked doubly hard.  I like to think that happens in real estate as well..love reading all the different responses..

You are so correct!  Pricing is #1 by a big margin!

Print Marketing still works as long as it is distributed properly. I hear success stories all the time. Our publication is up 35% over the past 12 months becasue it has been working for our advertisers. Most agents that say that print does not work, say this because they do not want to pay for it. But done right and in the right places, still very effective

Price and exposure.  These will determine whether or not a property sells.

In California where I used to live they did Realtor open houses, but here in the Phoenix they don't do that. And I also find that open houses are not productive for me.

I disagree with this post. I have to admit that I have been drinking the Kool Aid a bit since joining Keller Williams, but I reread "MillionDollar Agent" by Gary Keller and he feels the whole, "that will never work in my market" excuse does not fly. Broker's Open/Caravan is imperative for every serious agent to attend as it gives you first hand knowledge of what's available and whether it could work for a client. Nothing is worse than a property looking amazing in pics only to show as a dump when you are out and about with clients. Some of you are lucky to be in small towns where perhaps there are a small pool of agents and everyone knows each other. Beverly Hills/The Hills/Greater LA is a shark tank. Buyer's are extremely savvy and real estate is a pass time for many of them. If you can't dialog with them about a property they say while chatting them up at an open house, you are dead in the water.

This leads me to open houses. I don't know how one could get away with not doing opens. Is it the best way to get leads, not always. It is an awesome way for people to check out your listing, meet neighbors, and have your branded Open House signs placed throughout the neighborhood for visibility. I try to hold two opens a week, even if the traffic starts dying. It's free and you never know who walks through the door. Plus, the seller loves it.

I am even doing door knocking, which I hate and is really not well received in LA. BUT, you never know where that yes will come from. Getting their email and plugging them into an 8x8 automated drip system keeps them constantly reminded of your presence out of the million agents out there.

My last point is that I think the true key to success is an integration of old school tried and true integrated with technology, blogging, web presence, etc. It's all about funneling leads into your pipeline to produce listings on a daily basis.

This was kind of a rant-ish response, so no offence. Again, it could be that LA is just so cut throat that you have to work extra hard to get a piece of the buy. I am probably jealous of those who just have leads funneling in through solely referrals and online lead capturing.

It seems that there are two things being marketed:  Properties that you are listing and YOU.  Each of those may require a different approach.  Whereas a person might be satisfied doing internet searches for properties. they still are going to want to talk to friends, family and neighbors to get recommendations on a great Realtor who can help them with the process.

While I agree that online marketing is definitely important, in Willimasburg some agenst have a lot of success with open houses.  I closed a house last November from an open house lead and just listed a house from an open house lead.  When this house sells I will sell them a house.  The three transactions will total close to a million.  A couple of years ago I have about a million in production from open house leads with four transaction sides in less than 3 months from open house leads.  I don't have a lot of open houses because I try not to work a lot of weekends and I used to hate open houses.  Maybe it is just your area. I was an agent in Fernandina Beach, Florida and I never got a lead from an open house there.

A lot of good comments but it looks as if we are all still divided on what works.