20,029
I'd never spend it in one chunk but spread it out over 6 to 12 months. I'd choose a desireable neighborhood with high turnover and go to PropectsPlus and order their Market Dominator program. That's approximately $500 per month depending on the size of the area. Then I'd set up a Facebook ad targeting the same area with a $1 a day budget. For maximmum effect I'd spend 2-3 hours a week knocking on doors in the neighborhood. In 6-12 months you will be the dominant agent there. As soon as its generating profit I'd pick a nearby target and repeat.
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Beth and Richard Witt
New York, NY
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Lanre-"THE REAL ESTATE...
Bowie, MD
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Matt Holder
San Francisco, CA
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Richard L. McKinney P.A.
Port St Lucie, FL
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Marla Yost
Arlington, TX
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James Brockway
League City, TX
921,504
Wow! I LIKE that question Richard.
I would prioritize by assessing where the void exists.
Unless a future of peddling CMAs is attractive, I would suggest creating some delineating collateral. So, when asked, "What do you have?" you can say, "I've written a book, been recognized by the industry and have created effective proprietary methods."
Now that you spent a dollar to create real stuff, spend more on real inbound marketing strategies that exploit your stuff to those who are predisposed to doing business with you. I mean REAL inbound market stratgies, which is not what most vendors are selling bearing that label.
Then to trigger the perfect storm, create the right copy for your Facebook ads.
Use the remaining $3,000 to treat your Mom to something very special.
Unfortunately, too many real estate professionals are mentally exhausted, depleted. The creative left side is burnt to a cinder and it actually hurts to think.
The sugar words of Zillow, the quest for FaceBook dominance, the need to be #1 on google displaces common sense with easy/convienent/expensive/ineffective.
The smoke left behind form the letters of, "I wish I had my $5,000 back."
But, keep your $5,000 in your pocket if past behavior indicates an unwillingness to fully implement a strategy. We all have great ideas but stop 5 yards short of the goal line because we do not believe it is the last 5% of effort that yields the outcome wanted.
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Matt Holder
San Francisco, CA
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Richard L. McKinney P.A.
Port St Lucie, FL
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Linda Schneider
San Diego, CA
1,432,649
Pay some one to fine tune my web sites. Get some more sites up with good IDX and some targeted Facebook Marketing. Perhaps some direct mail.
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Richard L. McKinney P.A.
Port St Lucie, FL
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Gene Riemenschneider
Brentwood, CA
1,771,867
A good web site, personal assistant and membership to Active Rain.
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Beth and Richard Witt
New York, NY
153,167
I would hire a Social Media Expert and Golf Coach. Then fly to Wisconsin in June to visit my three grandchildren for a week.
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Richard L. McKinney P.A.
Port St Lucie, FL
6,393,609
279,878
630,251
4,800,082
273,820
The lady that said hire a social media expert and a golf coach, really nailed it as far as I'm concerned!
1,141,082
I stand with Lee Henderson on this one Richard... Good question, interesting comments...
1,622,432
I just discovered a book by Carla Cross Up and Running in 30 days. I wish someone give it to me when I got my license.....
1,139,819
I think I would spend in on SEO for a website. I hope it would bring something back. But that is only for the long term. Not for instant results
22,600
spread it out over the months to use for farming an area with a high turnover!
856,336
With no hesitation I would go to Katerina in AR and have her set up a couple web sites and sit in with her on some one on one SEO detailed education.
183,227
Love the question. It sounds like so much money, but as I have gone over my numbers from last year, it seems that I have spent more for not much in return. I think I need to rethink my spending for 2015.
1,076,551
Most of my business is referrals through networking, so I'd spend that cash for some plane tickets and rental cars to do a tour & catch up w/my people on both coasts!
51,536
I would hire a social media assistant. I am fairly up to date and don't fear it, but it changes all the time and I don't want to miss out.
140,560
All very good advice. I agree do with Lee Henderson most however. I would only add some lead generation through ZIllow or Trulia to his strategy. Facebook is my next weapon for local market domination.
215,585
Great question and Lee`s answer was the best by far. We do close to what he suggested and has been Great.
Best of luck!
45,628
3,416,038
5,104,931
I think that depends on where the $5,000 would be spent. If it looked like something with a good payback in a relatively short period of time--absolutely.