Marketing is expensive. More accurately, marketing is expensive when it doesn’t work. Many people in real estate avoid any form of marketing or advertising because they are unsure of what their results would be should they launch a new postcard campaign, magazine ad, or even a new website. Avoiding marketing is a sure fire way to put your business in trouble, so what is the best way to not waste money and still try something new?
I invite you to take into consideration the following marketing tips for real estate agents to help you get the most from any marketing that you launch.
1. What is your marketing message? – This is not a slogan, jingle, or clever saying, this is a marketing message. A marketing message should separate you from your competition in less than 10 seconds and communicate how you can save someone time and money should they pick up the phone and call you. The most powerful messages will be so over the top and obvious that the consumer would feel crazy for not calling you. Let’s examine the following:
“I will sell your home in 39 Days or I will sell it for FREE…Guaranteed”
This message saves someone time and money should they be willing to take advantage of the guarantee. The entire point of the marketing message is to get your phone to ring and a message such as this will have your phone ringing off the hook.
2. Stick with the 7% rule – Because marketing can be expensive, when you make a mistake, set a budget. As real estate prices fluctuate across the country, use the rule of not spending any more than 7% of your commission on any single form of marketing. With every 7% that you invest you should be able to get at least 1 transaction back. When you start off with a marketing piece that would already put you above 7% of a normal transaction it will be challenging to make money from that marketing piece.
3. Match your marketing to your personality – Take a few moments to consider who you are better suited to work with (buyers or sellers). Understanding your strengths in this section will allow you to select the marketing that will get you more of the business that you are best at! Often real estate agents say they will “take anything” and this leads to launching marketing that is ineffective. In order for marketing to be effective it must be focused on either buyers or sellers and taking just that little bit of time to understand your strengths will save you time and money.
With the above three marketing tips for real estate agents you will be able to get results every time you launch a marketing campaign. Keeping a tight focus on instant results for all of your marketing will enable you to hit your goals monthly.