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The Gurus are at it again: Quantity vs. Quality...

By
Real Estate Agent with Berkshire Hathaway HomeServices California Properties 01238708

The Gurus are at it again: Quantity vs. Quality this is a counter point to a blog post I read the other day. Feel free to agree or disagree with my points just as I am disagreeing with part of the message of the writer. I am not trying to offend the person who wrote the post, I just do not agree with the “marketing advice” or should I say the message and the title, hence the reason for my post.

Needless to say the approach of throwing enough “stuff out to millions of people” mantra does not resonate with me. I totally understand if you are selling “toothbrushes, razor blades etc.….” this is a great way to increasing the sales volume.  Selling “real property” as in Land, Single Family Residence, Condominiums, or Income Property, this mantra does not hold as much weight to me.

Clearly there are a few “destination places” in the country, similar to Beverly Hills, Malibu and the greater Los Angeles area, which might attract more of a worldwide interest. When it comes to purchasing Investment Property or even considering relocating to the greater Los Angeles area a larger exposure might be more beneficial in attracting clients. The reality is we have a worldwide interest to relocate to the Greater Los Angeles area, more so than other more remote or lesser known areas of the United States. Never the less I do not subscribe to this theory of increasing the client acquisitions by bombarding Facebook, Instagram or Twitter.

Just because there are:

  1.       1.5 BILLION people on Facebook
  2.        400 MILLION people on Instagram
  3.        320 MILLION people on Twitter

 

These figures do not necessarily translate to massive amount of additional listings or massive amount of buyers for the majority of Real Estate Practitioners. The fact that a local Realtor will reap the benefit of all the exposure is miniscule. Let’s be realistic, as an example:  there have been many a discussion about the fact, that Facebook manipulates what your circle of influence “friends” see or do not see from your postings in real time or delayed time. Therefore, the odds are very unlikely that you will be in front of the massive numbers that most Gurus like to quote. (that is another subject for further discussion)

 

The bottom line for any Realtor or Real Estate Practitioner, is about Marketing and the Return on their Investment!

 

There are many different ways to accomplish this goal and some of it is done by blogs on Active Rain, Internet Exposure in business platforms such as LinkedIn. (another subject for discussion) The real issue is what an individual is comfortable with and enjoys doing to be successful! This will lead to successful client acquisitions.

 

 

There are many Active Rain Members I am friends with and contrary to popular belief they are very successful with networking and going or hosting networking events. They are comfortable with it and are successful with it even though it is 2016. They focus on it and consistently do it and clearly reap the benefit i.e.: the results from it. (in fairness to disclosure this is not my comfort zone)

 

Community Activities are still a way to get exposure, it is not “so 1990’ish” again there are countless examples in my market who participate and are very successful with it.

 

Others choose a Niche Market and get recognition for the knowledge they have and share with others. As an example one of my specialties is “vacant land in the greater Los Angeles area” and agents, buyers and sellers reach out to me, for my expertise.

 

When it comes to a Niche Market you want to be the go to person! Just because you have a business card that states that you are a “Luxury Real Estate Agent” that is not enough for the savvy luxury clients, you need to back it up with knowledge and marketing skills at a minimum.

 

My point is:  you have to decide on how to gain the market share of the business you are targeting. That is the key and working it consistently, day in and day out. There are no Magic Bullets that accomplish this. One has to be learning, keeping up with the information such as the laws, the marketing, the list goes on and on. There has to be a comfort level, as well as vigilantly monitoring what works and what does not and then adjust the strategy accordingly.

 

I know a handful of Super Successful Realtors in Beverly Hills and they do not have a Social Media Presence, instead they are known for selling Luxury Homes and clients still reach out to them. Now keep in mind they have not taken 100 per cent of the Market share. If you are targeting the market share that they do not have, maybe you need to identify how you want to achieve it and go after it. I for one, do not believe that Facebook or Instagram is the way to do it.

 

I understand and appreciate the fact that is an inexpensive way to reach the masses, because all it takes is a little time and effort, but the issue is my target market is not a Billion + users. My target market is Developers, Investors from the low end to the Luxury and Ultra Luxury market. Hence I would be interested how many of them really would reach out to me because I sent something out on FB or Instagram? Just wondering out loud. So with that said:  what is your target market?

 

I am confident that a targeted approach in generating Listings is more valuable than a scatter approach of blasting to millions of people that will never remember you or even take the next level and block your scatter approach to marketing...

 

The most important nugget I can give, when the opportunity is presented provide the best Client Service Imaginable, success will follow you! But what do I know? I am just a Beverly Hills Realtor who has a few niche market expertise!

 

If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at  http://www.endrebarath.com.  I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations

 

 

Comments (32)

Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

There is no one size fits all when it comes to marketing and targeting.  Great post Endre.

May 14, 2016 10:02 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Endre. Different strokes for different folks but I am in your camp.

May 14, 2016 10:07 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Endre Barath, Jr. ,

So glad Kathy Streib featured your post in her "Ah-ha" moments for the week as I missed it! Well said..the real estate market is different than selling tooth paste and razor blades! Knowing your real estate market and who you want to reach is the key to your market approach.

May 14, 2016 10:47 PM
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

So glad that Kathy Streib included you in the mix Endre! And yes, you are so right, real estate and services related is quite different than selling razor blades and we really need to know our markets and how to work with them-we will continue to do on a consistent basis, whatever makes us most comfortable.  I am with you 100%

May 14, 2016 11:18 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Endre Barath, Jr. I love this post....everyone has his/her own methods of marketing..... when a method works and reaps rewards, the agent becomes comfortable with using it and perfects it....that leads to a targeted area that becomes a niche....I have a few of them....finding land; marketing to builders; new subdivisions; and fix and flips for a variety of builders....

May 14, 2016 11:52 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  I can see Kathy chose to feature it this week!

May 14, 2016 11:55 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Endre --- I missed this post too -- it must have been all those comments on Pump, Mother's Day and The Abbey.  So little time.  So little pie.  

May 15, 2016 12:17 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I am still looking that particular person attracted by my blog, personality. If it is soulmate just 1. I know there are 353,000 added on each day. I do not want to approach all to get one response.

May 15, 2016 12:51 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

You don't fish the whole lake, you find your spot and catch your limit. I follow your approach, I'm pouring my energy into defined niches in San Diego.

May 15, 2016 01:00 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Endre,

Love your post and I missed it, but thanks to the ever so wise Kathy Streib here I am.  You are starting to sound like us, and I objected to the recent ad on AR of how a rookie agent (pretty girl in a short skirt) made $165,000 with FB.  The key to finding one's niche is to spot that under served market...A

May 15, 2016 01:39 AM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Thanks for taking the time to share your thoughts. I agree with Joe Petrowsky ~ I have never regretted my decision to not advertise. I don't need the world, just my little niche of it. 

May 15, 2016 02:25 AM
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

So happy that Kathy Streib included your post on her weekly "must read"! I absolutely agree with you and believe that once you choose your target market, respond to their needs and they will find you. Great post Endre Barath, Jr. !

May 15, 2016 02:58 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Endre, how'd I miss this one?  And thank you, Kathy, for including this post in your weekly roundup!  It's more about the people you interact with face to face, and while an Internet presence does help somewhat, it's not necessarily the best way to get (and keep) prospects as clients.

May 15, 2016 03:27 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Endre, it really all comes down to finding what works for you. One of our local superstars (and I use that loosely), takes every listing she can get. She'll overprice by 20-30-40-50% because it's a sign in the yard with her name on it. The reality is, many go into foreclosure or short sales, but it doesn't matter to her. The perseption is that she is the most important agent in the area because of the volume of signs she puts out. The public doesn't know the difference.

May 15, 2016 07:20 AM
Karen Martin Real estate agent Safe Harbor Realty
Safe Harbor Realty - Westport, MA
Westport, MA Realtor Helping Home Sellers & Buyers

I agree with the post 

 My daughter a fairly new Realtor is 29 years old and most of her buyers come from Facebook

 it is her target market

May 15, 2016 11:00 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Endre Barath, Jr. the message is clear for sure - there are riches in niches!

However, Facebook - with targeted ads - can reach specific niches, too. (I have tried some of the ads with reasonable success - and had I planned properly, I would have generated more leads, though prefer to limit such expenses.)

May 15, 2016 02:15 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

We all have to find the right solution for our own business. Some people love social media, some direct mail, some door knocking (and the list goes on).

May 15, 2016 08:07 PM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

To each his own and may their results be what they want them to be. What works for one does not work for everyone.

May 16, 2016 02:59 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Different strokes for differnet folks.  The mass bombardment marketing approach doesn't work for me, either, but it works for some others.  I wish it didn't!

May 16, 2016 04:11 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Endre

Glad to see Kathy featured this well-deserving post. I suspect that many, if not most, of the gurus touting certain approaches  are not likely practicing those approaches themselves and seeing success. Certainly visibility is important in today competitive online market but quantity does not out shine quality.

Jeff

May 17, 2016 01:22 AM