What is the best cheap advertising for real estate agents?
Glad you asked.
Sometimes you really do “get what you pay for.” But, not always.
Cheap advertising is usually just that: Cheap. It is cheap because it has very little value. Of course, this is economics 101, right? If, in order to obtain something, there is no barrier to entry, then it certainly can’t be valuable (unless, of course it’s a gift—that’s an entirely different discussion.) But, value is ultimately what the consumer and the advertiser’s (agent or broker in this case) worldview is.
I’ve been building and developing sites for luxury agents as of late. Why I decided to do this is 2 fold:
- 1 When I worked as a print advertising rep, I got to know various mediums (i.e., print publications, print publication’s websites, broker and agent online aggregation services and major brokerage’s support for their agents). What I found was, in the luxury market, there were very few mediums that supported real estate agents in their luxury marketing. Hence, Artisan Branding & Consulting, LLC.
- 2 I also enjoy it and think it will help agents and brokers. This is true. I believe 110% in what it is I’m doing is a) good for an agent and his/her client and b) good for the market.
What I’m doing is actually customizing designs and functionality into these sites for agents. This is the solution I am offering to clients. Not in a flashy way. Not in a “templated” way either. It takes time to do this. And why shouldn’t it? If you are selling property that takes time to sell, why should you expect (or your clients for that matter) a canned, run of the mill, impersonal website? And yes it’s not cheap. If you want cheap, you can be online for free. Actually you can be online (and here’s the irony) as an ADDED VALUE when you invest in ANY, yes ANY printed publication. They all do this.
Just to back up a minute, I wrote that “sometimes you really get what you pay for.” Logically, this would mean that the internet has no value. And, of course, to a medium (i.e. newspaper ads, etc.,) that is adding value with their internet service, you are likely getting nothing. No added value at all. Of course, anybody who actually believes that may need some help, but that is just me.
If you’re a real estate agent and you believe that the internet is simply “added-value,” or worse you believe that you should just “be on the internet,” then read what NAR has to say about how buyers buy homes. And it’s a year and a half old, which is a LONG time on the internet.
Primarily, sellers want agents to price their home competitively, market the property, find a buyer and sell within a specific timeframe.
Home buyers are consistent in their expectations of real estate agents. Buyers thought the most important agent services are helping find the right house, and negotiating sales terms and price. Because agents often are chosen based on a referral, or were used in a previous transaction, two-thirds of buyers contacted only one real estate agent in the search process.
Buyers used a variety of resources in searching for a home: 87 percent used the Internet, 85 percent used a real estate agent, 62 percent yard signs, 48 percent attended open houses and 47 percent looked at print or newspaper ads. Fewer buyers rely on a home book or magazine, home builders, television, billboards and relocation companies. Buyers most commonly start their search process online and then contact a real estate agent.
When asked where they first learned about the home purchased, 34 percent of buyers said a real estate agent; 32 percent the Internet; 15 percent from yard signs; 7 percent from a friend, neighbor or relative; 7 percent home builders; 3 percent a print or newspaper ad; 2 percent directly from the seller; and 1 percent a home book or magazine.
Eighty-seven percent of home buyers who used the Internet to search for a home purchased through a real estate agent, in contrast with 72 percent of non-Internet users who were more likely to purchase directly from a builder or from an owner they already knew in a private transaction.
I’m not decrying print media. I love magazines. But, if it’s cheap, it’s probably cheap for a reason. Furthermore, if you hear that someone is going to “throw in the internet” for free, proceed with caution. The internet is not a fad, a trend or even worse: added value. It’s also not “cheap.” What’s cheap is that person that just opened up a facebook account that I’ve been talking to about business that suddenly wants me to be friends on facebook and be part of their facebook fan page.
On a side note: Seth Godin has an interesting post today titled: How to buy a house
Tagged as:
advertising,
luxury homes marketing,
real estate,
social media
