Looking at my first anniversary as a real estate professional and several thousand advertising dollars later...What do you think is the most effective marketing for the dollar...
Business card magnets, My Homes Magazine full color glossy page right next to the index, and OH YEAH, MY FREE P2 SITE!
I also forgot to mention my FREE BLOG at ACTIVE RAIN!
Michael is right your P2 website is a great marketing tool, also to the point business cards. When you drive up to an establishment stick one in the car door next to you (on the driver's side between the window and the door). Walk the neighborhood, your farm area, and knock on doors leave the people your business card or leave them for the not at home.
Advertise your services along with your website on Craigslist.com, it's free and the best bang for the buck.
Michael, congrats on your one year anniversary! Commit to three hours of genuine lead generation every day. If you don't have the money to invest then invest your time instead. If you haven't already, get it into your head now that this isn't a job but it is a business. Gadgets? Do Open Houses and connect. I order URL pens for everyone of my listings. When I take a new listing, I send out a full color flyer to my sphere, friends, family.
Watch for your ROI with marketing. If you are not getting results from it then it may not be the right type of marketing for that property. Not all listings or buyers are equal - they come in all shapes, sizes and demands.
It's about connecting with the consumer more than giving them something that will go in the drawer with the rests of the gadgets they have gotten from Realtors.
Ah, my two cents.
Congratulations on your first year. During my first year I spent over 12k (more than half of my earnings) on marketing myself.
What worked:
1. The best investment is the P2 website. You need to customize it, optimize it, and spend some good money on major search engines PPC campaigns and top placement until you earn a good generic placement. (First or second page. Then you can cut it down almost completely)
2. Showcase listings in Realtor.com
3. Monthly ad on the local real estate magazine (the free one that is placed in Walmart, gas stations, fast food restaurants, and dozens of other common places. Color ads generate more calls. Put the price, basic info, and a good picuture. Leave the address out.
4. High quality business cards. Front and back. I read somewhere that cards with an usable back print (calendar, local emergency numbers, ect) and laminated are likely to be kept by customers for longer periods of time.
5. Local exposure (I wrapped my truck for example) Doesn't matter where you go people know who you are and what you do. (A good or bad thing depending on what you are doing)
6. A short radio ad every now and then (Since I speak spanish I run 4 ads every Sunday during the latin music programming for only 100/month with a permanent banner on the station's website)
7. Local paper ad. Best for open houses.
8. Ebay listings (every now and then, great for traffic to your website)
9. Custom postcards via USPS.com (Much cheaper than regular postcard & stamp. Great for expireds, FSBO, Just sold, listed, ect)
What did not work:
1. Buying placement on new search engines. (Redzee for example, did not help in my generic placement. Once the money ran out they dropped me completely)
2. Showcase in Homes.com (Limited traffic for the money spent, bad customer service)
3. Ads in the Homes and Land Magazine. Really expensive, limited locations, no calls; good tool to get listings though)
4. Flyer boxes (Look good but do not generate many calls)
Scams or tricky tactics I dealt with.
1. I lost $500 on the map scam. If you get a call from Quad City Map Team or QC Maps be careful.
2. If you are asked to download something before looking at a promo, be careful. This guy wanted me to purchase a program where your picture and info will show at the top of every search engine for the keywords you choose. Great idea but it only works on those who downloaded the attachment. (He doesn't tell you that. I found out because I went to show my partner and the fancy ad wouldn't show on his computer or nobody elses in the office. Leave your wallet in the car so you won't pull out your credit card too fast.)
If you are short on money. Do as many open houses as you can, walk your farm, get on the telephone... Go get them!
Great advice Barb!! Your first year in RE you probably have not seen a great deal of money. Good start with a P2 website, but like Barb said rather then spend a great deal of money, spend your time. You will most likely get the majority of your business from your Sphere. Don't be shy to ask them if they know anyone buying or selling, and get those numbers. Make sure your friends and family have your card but don't rely on them to give it out. By the way it is alright to make personal calls from work. Always end them asking for a referral.
Jana
Great Idea Barb, Do you have a great source for the URL Pens to share?
I started a Chat Forum that caters to all the parts of my area. It has generated one or two leads but the main goal was to get enough people to join and for it to be a long term lead generator.
It has paid for itself already and we are 72 members strong since the middle of May. The best thing about is the locals get on there interact with people relocating and help the board with info and such.....
Check it out.... www.queencityarea.net
Congratulations Mark. BTW what have you used that has worked well for YOU? You have a great-looking Top Producer website...what are you doing with your P2 site, I didn't see a link to it?
I love Barb's URL pen idea - I'm interested in learning the source too.
I will second Michael's suggestion to drive traffic to your website from a free Active Rain blog.
Picking up the phone more often has helped me. Need to do more of it!
WOW...I must say I have heard more good ideas all of you than I have had all year. I have signed up on active rian but have not created a blog...Will get on it. actually just created the P2 site, Beth I think you mean a link from my top prducer site to the P2? site...or vise-a-versa...I do plan to have a link both directions,
I have shy'd away from PPC...Feared... My main thrust is getting my site higher (more often) on search engines.
I've been building relationships with lenders and have started receiving leads from them. I've done alot of open houses, floor duty, due to lingering funds I have not done alot with farming (my biggest weakness) I like the URL pen idea...
things that din't work well, Just listed/house values.com wasted alot of my budget, fortunitely, I have had a couple investors who have kepts me steady with closings however, In the greater scheme of things building multiple streams into my little pond will eventually grow me a resevoir!
I spend alot of time researching REO & foreclosures since they are trending up but need to increase my daily lead generation...
Any more ideas?!
Michael,
What kind of clients are you attracting from your active rain blog, I have an associate who suggested it as a source for REO listings, what have you found.
I have found most likely first time home buyers because that is what I am trying to market! Feel free to view my blog to take a look at my posts and keyword tags that I have been using!
http://activerain.com/blogs/biggmike78
We are soon going to be having a huge influx of military personnel in our area due to a Base Realignment and Closures program and should be getting somewhere in excess of 7,500 new families to the area! All of them will need housing, so lately this is what I have tailored with my blog posts on AR! As well as some relocation information!
IF YOU HAVE ANY ADDITIONAL QUESTIONS, PLEASE DON'T HESITATE TO EMAIL ME!