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NEWSLETTER
EXCLUSIVE: What Is Working?
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October 2024 - I have had many conversations lately where clients have asked, "What is working?" regarding marketing today. Given higher interest rates and fewer real estate transactions, marketing in 2024 has been more challenging than in previous years. However, the reward of successfully marketing in a tough market has never been higher. Here is what we are seeing:
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Persistence: Agents who continued marketing (even if only to a more targeted core list) have gained market share and are in an excellent position to benefit as the economy shifts.
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Interest Rates: The vast majority of agents re-engaged their marketing efforts with just the anticipation of a drop in interest rates (September 2024.)
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Savings: For the first time, over 50% of our clients are using Zelle or ACH Debit to pay invoices. This saves 3.5% in credit card fees and is a tangible way to reduce costs.
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Conventional Wisdom Fail: We have observed that agents at larger firms cut back their marketing significantly more than those from smaller or boutique firms. As a result, anticipation of a tougher real estate market took some agents totally out of the market. In 2024, cutting your marketing completely has been a conventional wisdom fail.
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Aggressive Marketing For the Win! Many of our more successful clients implemented aggressive marketing campaigns that paid off with a steady, consistent pipeline of deals. As others voluntarily surrendered their market presence, others took advantage!
Successful agents know that it only takes one new client or listing to pay for a full year of marketing. Contact me today to discuss your content, digital resources, cost efficiency, or mailing strategies.