On: Real Estate Agents Reveal Where They Will Spend Their Marketing Money in Challenging Times and Beyond

On: Real Estate Agents Reveal Where They Will Spend Their Marketing Money in Challenging Times and Beyond

I found this article on marketing per the Realtor and budgets for spending on advertising.

Granted the article was reporting on the findings of The Real Estate Magazine with a tilt towards the magazine and print ads, there is some value to their studies provided in the article.

Note the amounts and where / to whom they market to. Other realtor name branding is the second paragraph - an important element of name recognition.

This article can be found at http://www.msnbc.msn.com/id/28918134/

...Clearly, innovation in the online space has caused marketers to re-evaluate how they reach their target audience. But, the real revolution taking place in real estate marketing, according to this recent study, is the ability for agents to spend money efficiently and with accountability, both in their print and Internet marketing.

Among its findings, The National Real Estate Agents Study revealed that:

-- More than half of respondents (57%) spend more than $500 in a typical
month on advertising, marketing, branding and promotion. The median monthly
spending on advertising, marketing, branding and promotion is $622.

-- Respondents said that in the current economy, the most important goal
is "finding more buyers," followed by "showing current customers you are
working for them," "getting more listings," and "promoting your name to
other agents," with agents using specialty print stating significantly more
likely than non-users to worry about showing current home shoppers they are
working and about promoting their names to other agents.

-- Respondents spend about 25% of their media spending on each of the
following: Specialty print, Internet marketing, and the broker's own Web

-- Virtually all respondents use some form of Internet marketing. Over
the next six months, the channels respondents expect to spend the most
money on are Internet marketing (40%) and the respondents' own personal Web
sites (32%).

-- 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

-- 85% of respondents measure the effectiveness of the money they spend
marketing their services.

-- 78% of respondents track the leads they get from various media and
other sources.

The results of the research paint the picture of an evolving information landscape that gives consumers nearly ubiquitous access to information about their local real estate market. In the end, consumers are interested in finding a real estate agent that they can trust who will help them negotiate the challenging process of buying or selling a home.