Quick Answer Series: What About Direct-Mail Marketing?
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…
Quick Answer Series: What Do You Think of “Sphere of Influence” Marketing?
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…
Posted 5 months, 3 weeks ago at 6:00 am. 4 comments
Quick Answer Series: What Do You Think of Farming?
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…