Lately I have heard 2 ways real estate agents are dealing with this slowing market:
1. Cutting almost all of their advertising
or
2. Increasing their previous print marketing
To me it seems strange to go with option number one. When things get tough, disappearing from your potential clients seems to be an odd decision. When times get tough cutting advertising is wrong. Cutting ineffective advertising is a better option.
As for the second option, doing more print sounds expensive. Times get tough, that means less revenue coming in. Spending more on expensive advertising… well, sounds expensive.
Here are 10 ideas to push through a declining real estate market:
1. The most important, whatever advertising you do, ensure that you see an ROI
2. Less Print, More Web
– get into online video
– use Google Adwords
– write a blog
– get on Facebook.com
– engage on Twitter.com
3. Learn about something new, attend a meetup, take a class, meet new people
4. If your website sucks, take the time to make it worth peoples time to visit it
5. Stop asking for people’s contact information before you give them information. Give and in turn they will want to work with you. (ie. No VOW, No “Free Reports” – these do not create leads worth chasing)
6. Attend a conference that you have not attended before. Here are a couple options
7. Be a source of information and knowledge for potential clients. What is your expertise?
– do you own rental properties? start blogging about it
– do you deal with out of country investors? do video blogs about it
– are you a handyman? show people you know about home renovations
… showcase your knowledge, people will use you because they trust you
8. Be different. If all of your colleagues are doing something, stop, do something else
9. Find a niche and focus on it. (specific buildings, types of properties, etc)
These ideas should get you started. There are lots of options out there. Start thinking outside the box. Be different and embrace the internet.
10/27/2008 at 5:15 pm
excellent post. now is the time to seize the market.