We have spoken to a couple of Real Estate Agents regarding their Online Marketing Strategy and to our big surprise, many are not fully leveraging the full potential of platforms such as Facebook or Instagram. Majority don’t even have an Online Strategy! In the age of Smartphones where everyone is glued to their phones, they are missing out on a untapped qualified market !
Here are 3 Marketing Practices that are making you throw money through windows :
1 – Flyers
Hundreds of real estate agents are printing an incredible amount of flyers and distributing them for pre-sale purposes or after a sale. Reality is that people don’t really care who sold a house and how much, as the GTA population is well aware of the rise of prices.
On top of that, all of us are extremely annoyed by this pollution in our mailboxes and they end up directly in the garbage. We are talking about thousands of dollars wasted in paper that will not generate qualified leads.Let’s say it did, it would not be significant and there will be no way to quantify it.
Hence why the importance of online marketing as you are able to reach hundreds of thousand of qualified leads based on their age group, home owner status and other factors that you can leverage. The beauty of this is that you will precisely quantify your leads and control your budget.
2 – Signs
Signs are great for by passers, but how many are really qualified to buy a house or to check out your open house ? With Facebook ads you are able to target and invite potential customers to an open house by creating an online event.
3 – Booth in Malls or Stores
We have spoken to real estate agents that actually rented a booth in malls and stores for a rent of 15K a year, averaging 1 sale a month, but the truth is that people in malls are perhaps in a buying mood but not long thought purchased such as a house. Imagine generating a minimum of 1 qualified lead a day for the same cost without any efforts ? That’s not only possible but it is something you can quantify and control.
If Online Marketing is not part of your Marketing budget, You are missing out on a untapped qualified lead source and you will stay behind your competitors. In the case you are already running ads on your own and not quite generating the results you are looking for, let a specialist manage your online marketing campaigns and educate you on how to leverage efficiently on this complex tool. Each platform has a specific algorithm, Online marketer possibly ran thousands of tests in your niche or sector and they understand the nature of your business on each platform better than anyone else.