BrokerageIndustry News

New twist on real estate marketing reels in profits

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

It's a new year and time for a new marketing plan. Agents often waste a lot of their marketing dollars by failing to plan ahead. For instance, they buy a lot of random, one-time ads from quick-talking salespeople, rather than running a consistent campaign in targeted publications. Or they don't get around to mailings for lack of time or organization. You can avoid these pitfalls with a little forethought and a planning session with your calendar. A few pointers: 1. First, decide your total marketing budget for the year. A good rule of thumb is committing 2 percent of last year's income to marketing activities. To make a real splash, up the percentage and spend 3 percent-10 percent. 2. Now decide your marketing "time budget." Successful agents are active in their community, organizing blood drives, serving on Chamber of Commerce committees, raising money for charity, and so on. Decide which volunteer activities are likely to help you professionally, and how much time each month you ...