Realtors in this market, seasoned and new agents, are constantly asking themselves how they can market themselves and generate business effectively. Many new licensees shy away from the Real Estate Business simply because they cannot “afford” to spend money on marketing materials. Well I have good news for you, there are cost effective ways that you can generate successful business. Of course it’s going to take a lot of hard work in the process. But believe me it will pay off in no time.
One thing that I have found that has been very effective in my business is gathering all your warm leads, meaning people that you know personally, friends, family and peers just to name a few. You will want to contact them as soon as you become an active agent. Let them know you’re now a Realtor and would be happy to assist them in any of their Real Estate needs. Also asking them to pass your info on to anyone they may know who is looking to buy or sell. You can also send them postcards, introducing you and your new business. You can make and print them right from your own home or office, costing very little money.
With everything shifting to the internet, you definitely will want to register and get a website. A Domain name can be purchased for as little as $5.99 for the year, and in most cases you can design the site yourself, again costing little or no money. Once you have done this, it is a good idea to register on a listing website. These are linked with the MLS and your website. The listing sites help you to gain prospects. They are usually leads that were directed from your website, so if you come up with a catchy domain name, the more traffic can be driven through search engines. The site has anything that is listed in the MLS and allows you and your prospective client to work through the web to find them a home that they want. These are very good leads, since they have sought you out, it means they are ready to buy, most of the time.
Getting listings in this business is very important. The more listings you have, the more people are seeing your name around town, in turn bringing more business to you. Some agents use tactics such as calling expired listings and trying to sell themselves as a better agent then the previous one. Now days, REO’s are becoming hot. Some seasoned agents are getting in contact with the REO departments of banks and taking on the REO listings. This can be affective for a new agent as well, but you might have to sweat a little more than a more experienced agent.
Direct mailers are still very affective for a lot for a lot of agents. Depending on your Broker, this may be something that the office offers for free. On these mailers you can have raffles or offer free market evaluations on their home. You can design them yourself and do a bulk mailer if you are looking to save money. You most likely wont see any action off of the mailers for at least a year, but they will get sent to your farm area at the same time each month, so that when someone in the neighborhood is ready to sell, you will be the first name and face that comes to their head.
Building a good relationship with your clients is key. You want to leave a lasting impression, so that they will send you referrals or even come back when they are ready to sell.
Success in this business varies from agent to agent, and how much work they are willing to put into it. After all selling Real Estate is a business. If you treat it like a business it will pay you like a business.
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