The growing cost of real estate online marketing

If you just take a moment to observe your surroundings, you can't fail to notice the amount of changes that have taken place over the many years. Once man travelled using horses and now people do that using vehicles measured in horsepower. Once man had to rear pigeons or use humans to transmit communication, now almost everyone is just 10 digits or less away.

The same has happened for real estate marketing. While newspaper ads, flyers, door knocking and cold calling continue to happen on a daily basis, digital marketing has rapidly overtaken more traditional methods of real estate marketing. However even in digital marketing, change is inevitable. While a simple website to announce your presence online was sufficient previously, innovations has happened at a rapid pace.

What innovations has done though is greatly reduce the cost of marketing. However, that trend has started to turn. What started out as an innovation is now turning into a rock-solid cornerstone of the industry, and hence costs have started to rise. Property-guru recently became embroiled into a great controversy when they effective quad-trebled their prices this year by halving the amount of posts and doubling the price.

However, in many cases, using such platforms does not even help agents primarily marketing new launch projects. Hence agents have started paying out hundreds if not thousands of dollars to digital marketing agencies for websites, SEO, SEM, Facebook Ads so on and so forth.

At the forefront of internet marketing though is what is called funnels, funnels allow target markets to be better segmented, for you to better target the right people who are looking for your offer. It does require a trifecta of tools to do well, you need a platform that allows you to build funnels quickly and simply, auto-responders that help you stay in contact with potential buyers and an advertising strategy that allows you to find the right people to serve.

As a cost reduction consultant therefore, I have identified marketing costs as the highest cost for real estate salespersons and have started working on a possible solution to help reduce that amount.

If you are interested to hear more, please join us at our weekly networking meeting on 6 Jan 2018 at 8.00 am. Hope to see you there.

#realestateagents #costreduction