Marketing is a major expense for any real estate professional, but this is especially true for the agent who works predominantly with sellers. In some instances, the cost to market a home for sale from the listing date through either the closing date or the end of the listing contract can add up to thousands of dollars. Since most real estate agents work solely on a commission basis, these costs must be paid out of pocket by the listing agent or brokerage. If you are a listing agent who would like to trim excessive marketing costs while still allowing your business to flourish, try implementing one or both of the following tips.
Design and produce your own marketing materials
One of the best ways to cut the cost of marketing without sacrificing the amount or quality of your marketing campaigns is to become the source for all or most of your marketing materials. To do this economically while maintaining professional quality, consider contracting with a freelance designer or bringing in a talented design student from a local college as an apprentice to handle the creation of your marketing materials.
Once you have located a design professional, set up an area in your office or home where the actual printing of the materials can take place without being disturbed. Next, you will need to make arrangements to purchase or lease a high-quality copier capable of printing in both black and white and color and purchase bulk quantities of the paper products you will need for the printed materials.
Pro-tip: Discuss your specific printing needs with the copier sales professional and ask them to help you choose a copier that will offer excellent print quality at an economical cost.
Look for opportunities to share the costs of media ads
Another excellent way to save money on print marketing for your listings is to consider joining forces with one or more of the other listing agents in your office. By doing this, you will likely be able to increase or even double the size of any print ads you purchase, thus making a greater impact in your market area. For instance, instead of a quarter-page ad in your newspaper’s real estate section, your group can choose to split the cost to purchase a half-page ad, effectively doubling the impact of the ad for the same or a lesser cost.
Pro-tip: To avoid any disagreements about how leads resulting from the ads will be handled, make sure to discuss this with all group members before the ad is purchased and agree on a fair and equitable way to distribute the leads.
For copiers, contact a company such as Lafayette Business Machines Inc.