If you had $1000 to advertise with, what would you do with it?

By
Real Estate Agent with Associated Brokers Of Pagosa

When market pressures are on for us Real Estate professionals, it is not a good time to throw money at every advertising hook that comes along. Let's face it. EVERYONE wants to sell us something!

If you had $1000 to advertise with, what would you do with it?

This $1,000 number is an arbitrary one. It has no real significance other that it works well in a headline. The point is how do you make your advertising dollar stretch? Kind of like "If you were stranded on an Island and could only choose one food, what would it be". When put in that light it makes the decision pretty important. That's how I feel right now, during this market about my time, money, energy and general networking mojo.

It is EXTREMELY URGENT that the best decisions be made in order to be successful. This probably was not such a stressful decision 20 or 30 years ago. Advertising came in just a few flavors, and everyone did it.

 So to stimulate the grey matter, I'm inserting a list of possibilities that are out there today. This is by no means comprehensive. I am sure that the audience reading this could add many more. (and feel free too.) Just a little hook to get your brain started.

  1. Paper adds
  2. Real estate magazines
  3. Creative sign riders
  4. Websites
  5. Virtual tours
  6. Flyers
  7. Postcard mailers
  8. Pay Per Click advertising
  9. Drip mail systems
  10. Open houses
  11. Events
  12. Auto decals
  13. Radio adds
  14. TV adds
  15. REALTOR.com adds
  16. Active Rain adds (NEW)
  17. 17,000 other on-line MLS collectives
  18. On-line news adds
  19. Billboards
  20. Bench signs
  21. Sports team sponsorship
  22. Client handouts (everyone's favorite fridge magnet guy)
  23. Moving vehicles
  24. "Talking House" radio broadcast
  25. Wireless house feed
  26. Event banners
  27. Branded clothing
  28. Vendor punch card collaboration

...I'm tired.

 I know there are a million more that all beg for our hard earned dollars. The question is- What is the best, or best combination in our current market, or in any market?

 

 

Comments (11)

Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX
Chris! Great line up on advertising!!!! My answer is "on-line" period. It is proven that 80% or more homebuyers begin looking on-line! Put yourself out there and your money will be well spent! Deb
Aug 30, 2007 06:12 AM
Abe Do
Olympia, WA
I would invest it in other people and let them spread the word themselves.  People are what create business not ads.  Ads may make your name notable but it really doesn't encourage anyone to work with you, word of mouth is the way to go.
Aug 30, 2007 06:14 AM
Ian Butler
John R Wood Realtors - Naples, FL
PA, ABR - Naples, Florida
Great scenario Chris!  In our weird market i have looked and looked into getting the biggest bang for my buck and in my market its the internet.  I've been suckered in the past buying pens, pads, coozies, calendars, etc.  The best one is the magnetic calendars for fridges.  I have been on 3 listing appointments where another agents magnet was on the freezer door.  In my opinion there is no substitute for face to face networking.  Combine that with a website and linking it to A/R.  Press releases are a great way to get FREE press, they almost always post these in the business section.  Announcing a new designation or conference attended, etc.  The key is to be different, stand out and don't get suckered into what everyone else is doing.
Aug 30, 2007 06:22 AM
Jeff Kessler
Austin Homes, Realtors www.OwnAustin.com - Austin, TX
Broker,CLHMS,GRI

I like using Pay Per Clicks.  I get a lot of traffic.  Just make sure people are not clicking to just make money.

J.

 

Aug 30, 2007 06:34 AM
Rob Jones
JG Realty,llc - Phoenix, AZ
Real Estate Broker - Greater Phoenix
I agree With Ryan...I have tried every type of advertising in the past and the one that works best is Relationship Marketing!!  Take your thousand dollars and take past clients, present clients and prospects out to coffee or invite them to dinner at a restaurant or your home.  I don't think it is necessary to spend money on the internet except for having a website.  You can spend a few spare moments and optimize your site by AR or Google base, kijiji etc.....Good Luck!!
Aug 30, 2007 06:48 AM
Chris Liverett
Associated Brokers Of Pagosa - Pagosa Springs, CO
Pagosa Springs Real Estate

Great input everyone. Thanks!

Debra- I defiantly think on-line has got to be the base moving forward. Thats where I currently spend most of my time and a few of my dollars.

Ryan- Yes. People make the business. Since I was really referring to money here, maybe by participating in more networking events, luncheons, or just plain old being with people?

Ian- Amen to that! i am finding a lot of play on AR and local on-line news sources. Yeah it'sa finlaly affordable!

Jeff- Yes PPC is my PRIMARY on-line budget.

Cheryl- I have thought about doing seminars, but have not followed through. Maybe I need to get with you and learn about that!

 

 

Aug 30, 2007 06:50 AM
Chris Liverett
Associated Brokers Of Pagosa - Pagosa Springs, CO
Pagosa Springs Real Estate
Rob- Good advice. How does one choose WHO to build relationships with. Just building friendships and expounding on that? Do you have any (loose) system? (I'm not trying to turn people into projects, I'm just curious if you have a "regular" way of doing that).
Aug 30, 2007 06:52 AM
David Slavin
Keller Williams Premier - Katy, TX
CDPE, ABR, SRES Keller Williams Premier

I'd take that $1000 and add $19,000 to it and buy a $100,000 home to lease and make some passive cashflow.  Then your clients will realize you aren't just a saleman.

Aug 30, 2007 06:53 AM
Chris Liverett
Associated Brokers Of Pagosa - Pagosa Springs, CO
Pagosa Springs Real Estate
David- Funny man!
Aug 30, 2007 06:56 AM
Rob Jones
JG Realty,llc - Phoenix, AZ
Real Estate Broker - Greater Phoenix

What do you really enjoy doing?  I like cycling and have a group of about 30 people I ride with regularly.  That group in the last 4 months has provided me 3 closings and more referrals.  

My wife belongs to a couple network groups.  She doesn't just show up to the network meetings, she goes to lunch with the members and builds relationships.  From those relationships she has been introduced to the members friends and continues to build on her sphere.  Last week alone she picked up 4 BUYERS!!! yup 4 Qualified buyers...ready to purchase and she got these leads from the people she has met in this group and their referrals.

Be purposeful!!  Don't be a shotgun blast.  Focus on things you enjoy, because people notice, and build relationships.  Also, one last thing and probably a very important one, don't build these relationships expecting to get business from them.  Be sincere.

Aug 30, 2007 07:04 AM
Chris Liverett
Associated Brokers Of Pagosa - Pagosa Springs, CO
Pagosa Springs Real Estate
Rob- I hear you. Good advice. I am envolved very heavily with a few different groups that meet regularly.(We rock climb, raft, hike and ski. Seasonally) I agree that it just has to flow out of natural relationship building. Genuine friendships. I like the encouragement. Thanks!
Aug 30, 2007 07:18 AM

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