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Where do you spend your marketing money?

By
Real Estate Agent with Taylor-Made Deep Creek Vacations & Sales

are you wasting marketing moneyI found this on RISmedia and thought it would be good to forward on to you and have you start thinking about your web presence. One quick note about using “Real Estate” as a keyword, this is a most definitely a key search term but everyone is trying to achieve this high rankings phrase on their sites.  Some people pay big dollars for that search term.  But you have to ask yourself, do buyers and sellers REALLY search for “My town Real Estate” or is that just an ego search term for us in the industry?  If you go for the smaller more local issues that surround your market, you will have a better chance at reaching out to the public.  Sometimes it’s not just about “Real Estate” when building relationships with buyers and sellers.  This is called the Long Tail.  You start going for the smaller marketing terms in your area but you stand out as the expert in that area.  I think we call it a Niche market.  I can bet you, no I guarantee you that buyers and sellers are looking for more specific answers about the “real estate” in the area; shopping, schools, events, lifestyles, and the buying and selling process.  They are looking for a lifestyle that matches theirs, not just “real estate.”  I would think that knowing the area is more important that knowing that the house has 4 bedrooms and 2.5 baths.  Yes the house is critical, but what they get out of the area is very important.

Ask Dave Ringold, an agent in my office, what just five sentences and one picture did this weekend.  Or better yet, just search “Fire on Bennett road Mt Airy“ It’s not real estate but he just got his name out in front of plenty (200+ hits) concerned people in the area.  It’s just that simple. I have been hounding him forever to start a blog of his own, but he used our office blog as a starting point. (which is starving for new information)

Can you guarantee your current market plan will get your name in front of that many people that quick?  Also ask him how much it cost him while you are at it?  Will he get direct business from it?  Not directly, but it did put his name out in front of plenty of readers (concerned about his market area.)   Isn’t that marketing?  Why do you put your faces on Shopping Carts, postcards, newspaper ads?

Everyone is looking for a silver bullet in this market, that silver bullet is WORK.  Marketing campaigns take time and effort, but mostly consistently and they don’t have to be expensive. Every “Real Estate Expert marketer” tells you that as they sell you the latest and greatest product for hundreds of dollars.  And everyone buys into it out of desperation. Stop spending useless money on get rich quick scams!  They tell you that because they want you to consistently buy their product and keep them rich for the long term.  Phone calls are FREE, most of the internet training that I can offer you is FREE, and emails are FREE.  Note cards and holiday cards are inexpensive.  Newspaper ads are expensive and ineffective.  Dave Stevens sent out a YouTube video last night that made me think of this one.  A vision of Students Today. (Mike Wesch has plenty of thought provoking experiments with his students called Digital Ethnography and check out his other videos as they are just as intriguing.) This is our future homeowner and they are graduating soon.

  • 85+% of the buyers/sellers start on the internet
  • 3% actually find their home in the newspaper or print.

Where do you spend most of your marketing money?  If you are successful at old traditional marketing like print and park benches, just imagine how successful you will be by going after the 85%?

Just food for thought…I don’t want you to change your ways or anything.  : )

Posted by

 

Bob

AKA gotbob

Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Bob -- I like how you emphasised ed the word WORK!  In these slow times, it makes sense to build one's online presence, as not many agents are overly busy these days.

Feb 19, 2009 12:05 PM
Jay Thompson
Jay.Life, LLC - Aransas Pass, TX

What is "print"?

Feb 19, 2009 12:58 PM
Bob Carney
Taylor-Made Deep Creek Vacations & Sales - Mc Henry, MD
Licensed MD/PA Real Estate Agent

So great to see some great comments here.  I almost forgot how fast you will all respond. 

Robert, good choice, but not that you have to put all of your eggs in one basket...diversify, it's your 401k.

Shawna, Both are good and free.  Thanks for stopping by

Doug, Excellent combination

Debi, Think green.  :)  jk Flyers done well helps the buyer remind them of their experience in you listing.

Jennifer, You hit another good point.  The shelf life of a quality blog post last longer than any print media, well maybe not longer, but a helluva lot easier to find.

JB, Everyone is looking for the quick buck.

Alexsandra, Time well spent.  Sometime you have to spend money on the internet, but why go there if you haven't tried all the free stuff first.

Christine, Your analytics will tell you that. I am always watching my statcounter to see the trends in search key words.  Great job.

Robert, You are right. I think the hard part is the agent convincing the seller why your not advertising in the newspaper and magazine and not relaying the value of the rest of your services.

Steve, Unbelievable marketing tool if used properly. Thanks for the comment.

Maureen, Thank you.  Good to be back, just need to see if I can keep it up here and everywhere else.  I have split personalities with all my other blogs. :)

 

Feb 19, 2009 01:13 PM
Bob Carney
Taylor-Made Deep Creek Vacations & Sales - Mc Henry, MD
Licensed MD/PA Real Estate Agent

Randall,  And yes sir Phone calls are very effective as well.

Bill, sometimes we need to fall on our face before we figure it out.  Good luck with your 2009 plan.  Here's what I wrote about creating a Social Networking Business Plan.  You can get burnt out if you don't plan it.

Craig, Excellent point... ROI.  need to measure it to see if it successful.

Kelly, The very definition about social media...listen to your customer.  Listen and they will tell you what you need to do and give you some of your best referrals.

Marian, Good for you!  Who Moved my Cheese is an excellent read for the naysayers.

Roseann, So glad I could help.  Good luck with your new project.

Cheryl, Yeah he is...it's been a while stranger. Glad you stopped by.

Joan, Nice job.  Keep watching what is popular and embelish it with more info on the topic. 

James, Thanks for stopping by

Rob, It's the little four letter work WORK.  We forget that it is needed as well as money.

Sardiman, With 135,000 folks here. I am sure I need to fill in some big shoes for that title. Good to see you again.  Spammers always meet the delete button. But some are entertaining.

Wendy, GREAT Comment.  You hit a lot of good points about the new information consumer...dumb it down...I do that well. :)

Heather, Prayer has never hurt anyone.  Thanks for the comment.

Erica,  I am right there with you.

Susan, Sometimes you have to mix it up to make it effective.  Keep them for years?  Must be one great recipe!!!

Lisa, Long tail is a great book and solidifies the Niche marketing idea as well.

Bob, Hey there.  I was quite surprise to wake up to a gold star.  :) nice welcome back party.

Paul, That is an outstanding formula.  There are parts of traditional contacts that work well.

Kathryn, I think the seperation in the age demographics on the internet are getting smaller.  Your over 55 are already here. 

Frank & Jodi, That's some serious coin on Domains and website.  I am sure you have system to keep them all updated.

Kathie, The 3% is national average from NAR.  So you might just be dead on with 0% in Denver.

Chris, that drives me crazy seeing them sit around doing nothing but expecting different results.

Jay, You might have to check Wikipedia. :)

 

 

Feb 19, 2009 01:46 PM
Bob Force (REALTOR®)
Weichert Realtors - Aspen Hill - Mount Airy, MD
The FORCE in Maryland Real Estate

I belive it works if you work it.  Find that small niche and work it.  Become the go to guy/gal.

I have to believe Erica (#49 above) too.  You have to change it around now and then.  Drop what is getting you the least recognition and try something new.

Oct 28, 2009 06:48 AM
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Thanks Bob!  Hard work is always the answer...and moving toward the current trends instead of avoiding them as the world changes will definitely effect the outcome.

Jul 08, 2010 03:04 AM
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