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Do You Spend Money Advertising Your Listings? Attraction Vs Satisfaction

Real Estate Broker/Owner with RE/MAX Town Center 658501
 Why are you doing it? Sounds like an obvious question, but if you don't understand your true purpose you are likely to spend money foolishly. Spending money to cause a property to sell has a very small chance of success. As a rule, you should never spend money to cause a property to sell! You can't compel a market response. There are however value reasons to advertise a property. The two most effective are attraction and satisfaction. Are you advertising to attract potential buyers and new listings to your business? Are you advertising to satisfy your seller's expectations? If the purpose is lead generation, it should be pre-planned, tracked and the response measured over time. Know your return on investment on every 'attraction' dollar you spend. Satisfying your seller's expectations should also produce leads for your business, if it doesn't it is money poorly spent. Your advertising budget should be set in advance.When a seller calls to ask "what are you doing to get my property sold?" running another ad is not a proper response because it will not compel a market response. Always stick to your marketing plan, it worked for all your other clients right? A seller's motivation may change and their patience with the process will often become short, explore the changes in motivation and take the appropriate professional response to create a successful result for your client and your business. Take charge of the situation! Take charge of your career.
Joe Buffington
RE/MAX Realty Centre - Olney, MD
Do you find that agents who advertise a lot in your market place have more double ended transactions?
May 07, 2008 09:11 AM
There does not seem to be a connection between double ending deals and advertising. The true measure of  your advertising success would be attracting the buyer to your business and double ending the deal. I see most double ended deals via referral. I have also seen success with open houses and double ending, although this was more common in our last market.
May 07, 2008 12:30 PM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

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May 01, 2012 03:21 PM