Many of you who’ve followed my blog or my training know how I feel about open houses. I think they are a bad idea. I should clarify that statement. I believe that there is one single instance in which you should consider an open house: continuously until it sells. I’ll explain.
Faster than a speeding bullet. More powerful than a locomotive. Able to leap tall buildings in a single bound. Look! Up in the sky! It’s a bird. It’s a plane. It’s Agent Hero! Continue Reading…
I think direct-mail marketing for real estate agents is insane! It’s probably the single dumbest idea agents waste their time and money on! I’ll show you exactly why. Continue Reading…
Lately, it seems you can’t read anything about real estate and not see somebody selling their unique short-sale technique, their book or system on how you can become the “short-sale king” in your area, or their coaching on how to profit from doing short-sales. It’s become so prevalent now that it seems there is even a Certified Short-Sale Professional (CSP) designation! Continue Reading…
I’m often asked what I think of open houses. Well, I think it’s as good a way to waste a Saturday afternoon as any. My advice is to just take a long nap and catch up on your sleep instead. It will advance your real estate practice a lot faster than an open house! Let me explain. Continue Reading…
I think it’s a total waste of money! As bad as it gets! Even with a call capture hotline, the price paid for the few leads captured makes it a poor investment. Here’s why it’s such a bad investment. Continue Reading…
I think advertising in home magazines can be a good investment, or it can be a total waste of money. If done properly, home magazine ads can be a very affordable source of new business while making your listing clients happy at the same time. Done incorrectly, it can put you in the poor house with next to nothing to show for the expense. Continue Reading…
It’s a great supplement to your regular marketing so long as it’s free. As a stand-alone marketing technique, it is destined to fail, and if executed perfectly will yield you maybe a deal a month. Statistically, it can never make you a top producing agent, and here’s why. Continue Reading…
It’s a bad idea. Here’s why. It comes down to “cost per lead”. I’ll show you. Let’s take a typical market where the average sale price is $206,500 and the average commission side is 2.6%. That means that the average Gross Commission Income (GCI) is $5,369. According to real estate “experts” an agent should budget 20% of GCI for marketing. I’ve even heard numbers as high as 25%! (Incidentally, the rest of the entire business world budgets less than 10% of revenue for marketing, but what do they know?) Continue Reading…
Let’s face it — we all know that much of what we spend our marketing dollars on is a complete waste of money. And what’s worse is our advertising amounts to the single biggest expense we have as agents — as much as 20% of GCI or gross commission income! That means if you gross $100,000 a year in commissions, you are likely spending up to $20,000 a year in advertising. Continue Reading…
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