A Business Without a Sign is a Sign of No Business!

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

Flipping through September's REALTOR Magazine, my attention was drawn to a small box in the lower left hand corner of page 4 containing a Reader Poll.  This month's question:

"Have you cut back on marketing this year?"

Reader Poll

Is now really the time to be cutting back? 

Maybe spending gobs of money on full page glossy ads in local print magazines isn't a great idea any more, but it probably wasn't a great idea or good use of marketing dollars to begin with, buddy.

There's lots of real estate marketing that can be done for no or low-cost.  One that jumps to the top of my head is blogging and social media (which happens to be the cover story for this month's REALTOR Magazine).  It doesn't cost much in terms of dollars, but does cost time.  Knocking on doors takes time too, but which is more effective?

This poll is a perfect illustration of the 80/20 rule at play once again.  Fully 80% of those REALTORS surveyed have already or plan to cut back on their marketing.  The other 20% haven't and won't.

Which group do you think will continue to have a prosperous real estate career?

It reminds me of the sign salesman at the Chamber of Commerce meetings I used to attend and what he always had to say:

A Business Without a Sign is a Sign of No Business!

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  1. Donald Bradbury 08/27/2009 04:52 PM
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Ambassador
883,219
Lane Bailey
Realtor & Car Guy
Century 21 Results Realty

Brian... I wonder.  If we are ratcheting up our social networking presence and doing other things that cost TIME, not money, are we cutting back or ramping up? 

August 27, 2009 08:38 PM
Rainmaker
215,917
Crystal Kilpatrick
C.N.E. - Austin Home Sales
Realty Austin

Now is certainly not the time to cut back on marketing, atleast not for me anyway.

August 28, 2009 12:38 AM
Rainmaker
215,917
Crystal Kilpatrick
C.N.E. - Austin Home Sales
Realty Austin

Now is certainly not the time to cut back on marketing, atleast not for me anyway.

August 28, 2009 12:38 AM
Ambassador
1,607,736
Fernando Herboso - Broker for Maxus Realty Group
301-246-0001 Serving Maryland, DC and Northern VA
Maxus Realty Group - Broker 301-246-0001

Cutting back may not be the right word. . .holding my money accountable is much better. A glossy ad in a magazine the has only 5 readers is not a great marketing strategy just like being with a broker that will nickel and dime you to death while taking a big chunk of your commission . . . with the  pretense of the "training" 

August 28, 2009 07:00 AM
Rainmaker
249,535
Robin Rogers
ABR, CRS - Real Estate Broker & Investment Adviser
Robin Rogers, Silverbridge Realty, San Antonio, Texas

Hi, Brian:

Great post! I haven't cut back; just the opposite. Although I have dumped a couple of things that don't cost much, but don't seem to be working either. I am also rethinking my business model. I'm doing better than I did last year so far, and I hope to get where I want to be in my business in 2010.

Happy TGIF,

Robin

August 28, 2009 08:12 AM
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Brian Block

Northern Virginia & D.C. Real Estate
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