The Real Estate Book, a leading publisher online and in print of real estate information in North America recently conducted a survey of top real estate agents nationwide to find out how they are marketing themselves and their listings in the current economy. It is no surprise to find out that the Internet has played an integral part of new marketing plans, but what is clear is that a shift has occurred in the type of advertising.
Top agents are no longer using mass media and have shifted to targeted real estate media. 75% of their marketing spending is dedicated to specialty print, personal websites, and Internet advertising. Newspapers ads and radio spots are rapidly becoming a thing of the past.
A few quick stats:
* 57% of the survey respondents spend over $500 per month on advertising, marketing, branding, and promotion. The median monthly amount was $620.
* The median amount spent on Internet marketing is $196 each month. 38% spend more than $250 per month on all forms of Internet marketing.
* 86% of the respondents had a personal web site in addition to their broker web site. 61% spent money on search engine marketing to promote themselves. 25% used blogs or social media as a promotional tool.
* Only 5% of those agents surveyed expect to spend more on newspaper ads.
In a time where consumers can access so much information, agents have to be creative to stand out from the pack. Ultimately, a consumer is looking for an agent they can trust, who is knowledgeable about the market, and who is experienced.
To read the full published article, follow the link.
What have you found to be effective?
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