3,988,013
It probably is every bit of that when you include all social media, signs, websites, marketing pieces, ads, etc.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
-
Peter Mohylsky, Destin...
Miramar Beach, FL
5,257,583
10% sounds reasonable to me - we do a lot of entertaining and I would consider that marketing ourselves. Those events cost money so, 10% sounds about right for my business. I know a lot of agents don't do much print or farm marketing so, I'm sure they have a far lower budget than I do.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
-
Peter Mohylsky, Destin...
Miramar Beach, FL
5,772,593
Peter,
It depends on where you focus and what you are hoping to achieve. Based on what I have been privvy to with our clients, Barbara Todaro 's numbers are more accurate. You have to spend to make, and one cannot economize and become a DYI just to save a few dollars, instead of doing what one does best, which is real estate. A
-
Roy Kelley
Gaithersburg, MD
-
Peter Mohylsky, Destin...
Miramar Beach, FL
-
Diana Dahlberg
Pleasant Prairie, WI
2,817,727
Conceptually, I will disagree...with virtually any percentage.
Everything depends on your objective and your strategy to get there. Are you trying to grow? Rapidly? Slowly? How large is your business? How will you get there? What approach will you use to grow? Grow through people? Grow through referrals? Pay for leads, etc...they all lead you different places.
This is one of those "trick interview" questions they would warn us about in business school.
-
Bob Crane
Stevens Point, WI
-
Anita Clark
Warner Robins, GA
-
Diana Dahlberg
Pleasant Prairie, WI
5,032,448
One size certainly doesn't fit all. You do have to spend money to make money and you can't skimp on consistent advertising that comes in many forms.
-
Roy Kelley
Gaithersburg, MD
-
Debe Maxwell, CRS
Charlotte, NC
1,554,377
I have an annual budget, so I have a monthly budget, but I know 90% of what I'd sending out every month since last October; every October I plan my next year.
-
Peter Mohylsky, Destin...
Miramar Beach, FL
-
Roy Kelley
Gaithersburg, MD
2,684,769
My first "sales job" advocated the 10% rule. But I have had some really good years in real estate, when 10% would have been an absurd amount of money to spend on marketing and advertising. Likewise, there were some lean years when 10% wouldn't be enough.
-
Roy Kelley
Gaithersburg, MD
-
Peter Mohylsky, Destin...
Miramar Beach, FL
5,244,229
Depends on what your agency does based upon your split and what it takes to dominate your market. For many 10 percent may sound high while high achievers like Barbara Todaro may go up to three times that figure!
-
Roy Kelley
Gaithersburg, MD
-
Diana Dahlberg
Pleasant Prairie, WI
5,583,328
mine is more like 25-30% of my annual income
-
Roy Kelley
Gaithersburg, MD
-
Peter Mohylsky, Destin...
Miramar Beach, FL
634,532
I agree with Fred Griffin that it's better to adjust your budget to your current needs and goals.
-
Fred Griffin Florida R...
Tallahassee, FL
2,221,950
2,195,063
It's actually 10% for Lead Gen (prospecting & marketing)
-
Michael J. Perry
Lancaster, PA
7,869,880
I would not use a percentage figure.
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,071,489
Focused more on ROI - right now 8 dollars in for every dollar spent
-
Roy Kelley
Gaithersburg, MD
5,062,845
I suppose it depends also on what you include in the category of marketing, vs other related items
-
Roy Kelley
Gaithersburg, MD
599,734
I know I should have a specific budget, but I don't.
-
Roy Kelley
Gaithersburg, MD
4,272,934
2,224,473
3,986,308
It is hard to put a number to it as if something works really well and inexpensive why spend more
-
Roy Kelley
Gaithersburg, MD
530,198
It has varied from year to year, depending on what I was trying to achieve.
-
Roy Kelley
Gaithersburg, MD
6,423,260
No, we dont spend much on marketing, just do what is needed.
-
Roy Kelley
Gaithersburg, MD
3,416,038
I do not use a straight percentage. It depends how many listings i have, as more listings equals a great increase in marketing. As well i do special marketing projects or target certain areas through out the year that will change.
-
Roy Kelley
Gaithersburg, MD
2,785,276
When you find something that works...then you adjust accordingly
-
Roy Kelley
Gaithersburg, MD
4,905,762
1,157,791
I don't discuss my budget for competitive reasons in a public forum. I have seen various places state that budgets should be ramdom percentages of future expected sales, budgeted sales, past sales etc. but they do not good reasons for such percentages.
-
Roy Kelley
Gaithersburg, MD
809,258
So many variables on what you are doing with your business, if you are solo, on a team, in a brokerage that provides leads, what your splits are, if you are a team lead or broker, etc. etc. We don't spend 10%. Much less.
-
Roy Kelley
Gaithersburg, MD
679,404
I've always heard 25% and in years past I've spent more than that. But there comes a time where you find your "comfort level" and I've had some months I spent less because I was making sure I did not "over market" and then have more business than I could handle. If you are not able to take "good care" of the clients you have the following up on the "new leads" that can actually backfire. So I watch my spending according to my need.
-
Roy Kelley
Gaithersburg, MD
2,189,772
When I did a survey, the figure ran between 20% - 30%.
-
Roy Kelley
Gaithersburg, MD
4,966,025
1,847,621
I'm not so sure about that 10%, that sounds high plus I don't know what that 'somewhere' included or not included.
Everything has an ROI & that would make something a no-go. Not every marketing adventure turns out to be a winner.
-
Roy Kelley
Gaithersburg, MD
472,114
A lot of marketing is very inexpensive. 10% would be too much.
-
Roy Kelley
Gaithersburg, MD
1,712,876
It doesn't make sense for me unless your business plan is to make money for everyone else instead of yourself.
-
Roy Kelley
Gaithersburg, MD
442,956
I think the number varies by agent and location, also the price point you are targeting. Newer agents will spend less. Whatever you are spending, be sure it is working for you. Always look at the results of the spending and be sure you aren't just going for the next shiny object (been there, done that).
5,879,125
1,728,656
It should be whatever works for you and your market. Maybe more, usually less.
1,617,916
1,506,773
991,652
4,800,132
4,434,177
921,504
200 is too low.
However, if one is running a one-dimensional real estate business, 200 could work. Having all the eggs in one basket is a recipe for disappointment.
4,319,773
3,350,439
I do not believe in one-size fits all. The amount spent on marketing will vary.