Advertising When It's Slow

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Real Estate Agent with Kathleen Cooper, Best Option-EXIT Realty Partners, REALTOR® 9084437/Brokers

What do you do when the market slows down?  Do you cut advertisement costs?  Did you know that you are supposed to do just the opposite?  We have been actively adding to our marketing and advertising online to try and boost our business, but I can't say we're having much luck.  It seems as if there are not many people buying or selling in our current market.  We are trying tons of creative ways to get people to call or view our listings.  We are using property websites, Google PPC and many lead programs to capture some clients.  We are doing door knocking and mailouts with not much return.  What is working in your market?  We are going to keep plugging away and keep growing with our advertising efforts in hope to capture someone somewhere. 

 

 

Sturbridge, MA

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Tags:
real estate market
slow market
marketing conditions
advertising

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Rainmaker
150,161
Nancy Moeller
Seven Gables Real Estate
We are focusing most of our attention online and in foreclosures - appealing to the current market.
November 05, 2007 09:10 AM
Rainer
58,137
Jennifer Esposito
JenRan Realty, LLC

We did an advertising campaign-nothing.  Gearing up for the Holiday gift/mailers, and some farming. I am hoping to expand into MA (waiting for the paperwork)....How is the market in your area?

So far not much is working except the Internet so I've been working on adding helpful info to our website.

November 05, 2007 09:23 AM
Anonymous #3
Anonymous
Anonymous
I actually increase my advertising.  I do most postcard mail outs in my neighborhood and surround subdivisions.  It works for me. And I always mail out calendars in my target area.  And....now I am putting more on the Internet....everywhere that I can find.
November 05, 2007 09:24 AM
Rainer
3,472
Jim Polhemus
Virginia Beach Real Estate
Long and Foster Real Estate, Inc.

Seems to be the growing concern in my office (and my business) as well. Where best to advertise to get those leads! Luckily I'm licensed in two states so I get a certain amount of referral just because, which is great. I also do PPC, maillots and some print advertising with modest success and am getting a little frustrated.

Obviously I do print because my listing clients expect me to do so, although I do get some response from it. I only do maillots to certain geographic areas, and to my SOI so my response rate tends to be in th "OK" range. I stopped doing mass-mailing once I realized they just did not work for me. PPC and website promotion seem to be giving me the best rate of return at this time, and I'll be concentrating on that for at least the short term. I've started doing some short TV ads, but it's too soon to tell if that will be successful.

Door knocking.....ugghhh! Hate it, but I suppose it's a necessary evil. I usually avoid it like the plague, but have decided to start it up again to build my listing inventory. I will concentrate of expired listings, and will most likely NOT do random door knocking.

November 05, 2007 09:34 AM
Rainer
15,848
Daniel Smith
PROUDGAY
First Priority Financial

We spend a lot of time focusing on new marketing during this time of year. Just made a new DVD - let me know if you'd like a copy. 

 All the best,

Dan  

November 05, 2007 09:37 AM
Rainmaker
360,777
Kathleen Cooper
EXIT Realty Partners - Broker, REALTOR®
Kathleen Cooper, Best Option-EXIT Realty Partners, REALTOR®

We don't do random door knocking either, I usually go to FSBOs and Expireds.  I usually am much better in person than over the phone so I like to try and get face time.  We are all over the internet now and do minimal print.  Anyone having success with print?  I've heard good and bad about bulk mail, but we may start trying a little.  We started to venture into tv with HouseValues.com with their new Agents on TV project, but it was a disaster so we paused it for a little while until we can find something better. 

 What kind of DVD did you make Dan?  Did you go through a company or make it yourself? 

Jennifer - You are close by us.  We are licensed in CT as well, but haven't done much with it.  We are opening a mega office in Sturbridge right now, pretty close to the CT line.  How long have you  had your company? 

November 05, 2007 09:46 AM
Rainer
58,137
Jennifer Esposito
JenRan Realty, LLC
My company was started in 2005 so it is still in that delicate growth stage.   I'm so impatient, but learning to take baby steps in growing the business. 
November 06, 2007 06:50 PM
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Rainmaker
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Kathleen Cooper

EXIT Realty Partners - Broker, REALTOR®
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