Should You Continue to Use Real Estate Marketing Products in a Slow Market?

Posted by Rick on Mar 27th, 2008

With the real estate market being slow, you may be wondering if you should continue to use real estate marketing products to drum up business. The answer really depends on your budget, but one thing is for certain: If you are not consistently mailing your past clients and contacts regularly, then you are losing money. The scary fact is this: Only about 12% of sellers use an agent they’ve used before. But your chances of getting a past client’s business again dramatically increase if you’re keeping in touch with them regularly. Direct mail including postcards, newsletters and calendars are the most inexpensive offline way to market to your clients and contacts on a regular basis.

The general rule of thumb in business is that 20% of your clients will be responsible for 80% of your income. This percentage will most likely be higher for Real Estate Professionals if you consider that much of your business comes from referrals from these clients. This means that you are not only marketing for past clients’ business, you are also marketing for them to refer their friends and family members. By mailing them regularly, they’ll be more likely to remember you if someone they know is looking for an agent.

If you’re having trouble covering your marketing costs with the income you are generating, cut back on the prospecting. You should find that it is more cost-effective to market to past clients than to spend money on finding new ones. For more info on real estate marketing products visit ReaMark.com or for marketing advice, call (800) 932-2957.