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18 Replies Last post: Mar 7, 2009 10:59 PM by macspider

Is radio and/or print advertising effective for real estate marketing?

Jul 21, 2007 6:58 PM

Click to view Housing Deals's profile Founders Housing Deals 8 posts since
Jul 20, 2007

We are a real estate company that buys, sells and leases homes. We have historically relied upon online advertising, as well as word of mouth and a variety of referral sources in our local area. We are ready to expand our business, and would like to explore additional marketing options. Is general radio and/or print a cost-effective way to market our services in our local area? Does anyone have any ideas for the marketing costs per lead that I can expect?
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Click to view WhiteBrow's profile Founders WhiteBrow 21 posts since
Jul 21, 2007
1. Re: Is radio and/or print advertising effective for real estate marketing? Jul 21, 2007 8:29 PM
I am not in the real estate business, but as a home owner that lives in a hot real estate market you may want to consider advertising your services in local neighborhood real estate newspapers. In our city, the entire neighborhood gets canvased each week with a "homes" newspaper which advertises the upcoming open houses, mortgage services, and also general contractors for home services. It's well read in our area.
Click to view score81's profile SCORE score81 76 posts since
Aug 6, 2007
2. Re: Is radio and/or print advertising effective for real estate marketing? Aug 7, 2007 4:57 PM

Print is always much effective then radio. Because most people have chance to look at your advertsement. Radio, you hope he is listning at the time your ad is on the air, and it is big if. I will suggest adding third option email blast. It is cost effective and very useful to get the attention of your clint. Build up your client list then blast them with email once a week or once a month.


Combination of email and print can be very effective then any other combination. marketing cost depend upon how much and where you want to market your product and media. Combination of this gives yo average number per lead.

Click to view Lindsay's profile Start-up Lindsay 2 posts since
Oct 11, 2007
3. Re: Is radio and/or print advertising effective for real estate marketing? Oct 11, 2007 11:10 AM
If it is a question as to which is the most effective, there is no question that newspaper out pulls radio by a huge amount. However, newspaper advertising, (and I'm assuming the vendor is paying ????) is less effective than signs and personal contact. However, newspaper advertising establishes profile (and some leads) which will drive your listing process.

By far the most effective way to market realestate agencies is a broad program of local community involvement, with each agent focused on one specific managable geographic region.

Information kits are a very powerful wat to get initial contact.

I have just yesterday posted an article on realestate marketing on my blog site with links to some very good articles...

http://stuff4business.com

If you browse around my site you will find bucket loads of FREE fully illustrated low cost marketing methods that you and any business owner will find very profitable.

Kindest regards
Lindsay R. Polson
Click to view Housing Deals's profile Founders Housing Deals 8 posts since
Jul 20, 2007
4. Re: Is radio and/or print advertising effective for real estate marketing? Oct 12, 2007 1:00 PM
in response to: Lindsay
I visited "Great Advertising and Marketing Ideas for Real Estate Agents" and it was great. I agree with Jay who provided a comment that you have a great site and offer great information for small business. I'm going to do some thinking about how I can offer some "surprising" premiums to our services and properties. Thanks so much for the response...
Click to view NTComputers's profile Start-up NTComputers 1 posts since
Oct 10, 2007
5. Re: Is radio and/or print advertising effective for real estate marketing? Oct 12, 2007 4:03 PM
IMHO, print and internet advertising is more effective for real estate marketing than radio. A client of mine tried advertising on the local radio and didn't get much response from that. He kept track of how his business leads were coming in and to our surprise, the radio leads were last.
Click to view wealthpro's profile Professional wealthpro 14 posts since
Oct 16, 2007
6. Re: Is radio and/or print advertising effective for real estate marketing? Oct 16, 2007 11:06 PM
Do you stay in touch with your past clients? A couple of years down the road, would your past clients remember who they did business with? Have you given them a reason to do repeat business with you?

There is an way to create a greeting card campaign that will send out real greeting cards through the mail for as little as 62 cents. You can set the campaign to send cards on birthdays, anniversaries, holidays, etc. You could ask for referrals too. Everything is done from your computer online, but the greeting cards are sent through the postal service. You can even use your own handwriting font and upload your picture and/or a scanned image of your business card

With this same system, you could take a picture of a family in front of their new home that they just purchased from you and upload it and have it printed on the cover of the card. You then offer to send the card out to your client's contacts to let them know about the new house and the change of address. Of course your business would be mentioned inside the card.

Greeting cards are more likely to be read than postcards. Many realtors are using this system, you should try it out.

David Simons
www.cardsguy.com
Click to view 1250radio's profile Professional 1250radio 5 posts since
Jul 15, 2008
7. Re: Is radio and/or print advertising effective for real estate marketing? Jul 22, 2008 9:21 AM
You can look at this question and have several different opinions. For instance, did you know that newspaper sales are falling fast with electronic media being the method some people get their news and information. Radio, on the other hand, can be very effective if you purchase your spots during morning drive (5:30-9:30 am) or noon news. Local news is ideal. However, you may have to wait in line for that. Stations that have good local news and live deejays out do other stations with no local news or network only news!
Believe me, local news is THE most important service radio can offer it's market. It's a ratings grabber and you do not have to wait until your ad gets published. Most stations can produce a great commercial in shorter time and have it on their website faster, too.
Having sold estate, the pictures in the newspapers & trade publications are too small or grainy to be as effective as on the radio along with an audio stream! Local radio + local news = huge listenership and successful advertising.
Click to view hsventures's profile Professional hsventures 3 posts since
Jul 22, 2008
8. Re: Is radio and/or print advertising effective for real estate marketing? Jul 22, 2008 10:20 AM
Hi,

I love this question. I'm a freelance marketing consultant for small businesses and the most fun I've had in this job was for a real estate company.

Everyone has a different opinion of radio and print. Personally, I almost never recommend either to my clients. Typically the business owners I work with have a tight marketing budget and can't afford a mis-step.

Let me tell you what has proven successful for me and hopefully it'll work for you.

  • A 24 hour property hotline advertised on the real estate signs with a rider.
  • An optimized website that is designed to grab email addresses in exchange for free reports.
  • Event marketing advertised with press releases.
  • Purchased a used moving van and had the sides logo'd. Offered it for free to every client.
Some quick explanations of these:

  • The 24 hour hotline is something I set up using the client's phone system. We bought another line with a catchy number (used the last four S-A-L-E). When a client drives past a home, they see the hotline number on a rider that essentially tells them for more info, they can call 24 hours a day. When they call, they press the extension number for the property where they'll hear all sorts of info as well as receive the cell number of the listing agent. They also have the opportunity to listen to info about more houses, leave a message for the listing agent, request free reports, etc.

  • Websites should offer free reports (bullets are the best - "10 Things to look for....) in exchange for joining the email list.

  • By far, event marketing is the crown jewel. Partner with local charities and create an event around their needs. Write a compelling press release and blast newspapers, TV and radio. I've done everything from collecting food for the food bank to handing out free school supplies to offering free 5x7 photos of kids at Halloween. I've not only NEVER had a press release rejected when working in conjunction with a charity, I've been picked up for free TV exposure and every single event has been a huge success and lots of fun.

I wish you luck!
Click to view Iwrite's profile Mogul Iwrite 1,100 posts since
Dec 29, 2007
9. Re: Is radio and/or print advertising effective for real estate marketing? Jul 22, 2008 11:07 AM
I am going to zig where everyone else has zag.

The answer is both and neither.

You are not dealing with buyers or sellers or renters - you are dealing with human beings. No one medium will allow you to reach them all, and your message is different for each.

Think about like football:
  • You may have the best quarterback in the world but your offensive line is weak. No matter how good he is, if he spends most of his time on the ground, you'll never score.
  • Now, if you have the same quarterback and build a great offensive line that can stop a tank, giving the quarterback time to run the play and your receivers can't catch and your running backs can't run - you still can't score.
  • Improve your receivers and running backs, and your existing team becomes a powerhouse on offense.
Even with limited dollars, you need to build a mix of media - print, direct mail, mobile, outdoor, tv, radio and internet. They each have a strength but they also have a weakness, but combine them and they will cover each other's weakness - allowing you to score more often and more easily. You should not use all of them but you should use more than two. Think about where the people are you need to talk to and find which medium best reaches them.

I hope this helps. Good luck. Find a neutral voice to help advise you.
Click to view Fatty423's profile Start-up Fatty423 2 posts since
Jan 31, 2009
10. Re: Is radio and/or print advertising effective for real estate marketing? Feb 2, 2009 9:55 AM
We have thousands of real estate customers that say they have tried other forms and print advertising works best for them. I know you may think i am being biast, but for our real estate customers we will design a postcard, help them put together a list or provide one, print, and mail for less than the price of a postage stamp. If they sell a house in a neighborhood they send a postcard to every other house in that neighborhood a "just sold" home. same for "just listed". On a side note the only way any form of marketing works is if you stay consistent. Don't just try it one month and then wait a few months. We recommend breaking up your list and mailing to it on a weekly basis. For more information on postcard printing and mail check out www.imagemedia.com. To view some free real estate postcard templates visit http://www.imagemedia.com/templates/browser.cfm?type=postcard
Click to view jc_success's profile Start-up jc_success 1 posts since
Feb 16, 2009
11. Re: Is radio and/or print advertising effective for real estate marketing? Feb 16, 2009 11:45 AM
Hello. I just started selling radio time for an ad agency /recording studio. During my research I noticed something. In order to sell effectively, I needed to "do the math". I thought how could I do the math, I'd need numbers. Stats. I came across this term, CPP or cost per point. it's the cost it takes to reach 1% of your audience assuming you know who that is. Most average commercials that have come out of our studio ar around $1500. So how far will the commercial reach? divide the cpp into the cost of the commercial, you have what it takes. Now, if you find that people are calling saying they heard the ad, and you sell a house..you subtract that cost. Is it effective?
Does the ad copy achieve results? Some radio advertising like playing slots. You might start out with a $100 and you can only bet $10 at a time. Sometimes you win some back. If you bet too much, and you don't get return, you'll be done. Good research into your potential buyers, and their demographics, plus effective copy, might just be effective enough? There needs to be measuring stick.. A person needs to hear an ad at least 20 times before it sinks into their craniums and they buy. $1500 covers a whole month. I hope this helps
Click to view g_graphics's profile Authority g_graphics 15 posts since
Dec 6, 2008
12. Re: Is radio and/or print advertising effective for real estate marketing? Feb 16, 2009 12:13 PM
Hi There,

Love the question and some terrific responses; I think it is worth waying in on the importance of the message in relation to the delivery. You mentioned Buy, Sell and Lease homes there probably is some value in considering those as separate messages to separate audiences. Maybe consider breaking them apart and crafting a message about your business advantages in each area. With a message and/or tagline for each the best delivery method may be very obvious. You can also take advantage of easier response measurement and conversion ratio.

Best of Luck!
Click to view KnuckleHED's profile Authority KnuckleHED 12 posts since
Jun 16, 2008
13. Re: Is radio and/or print advertising effective for real est Feb 18, 2009 5:32 AM
Also if you have your own webstie or belong to a few Social Networks such as Facebook, Myspace, etc..... You ought to check this out.

Ok, you have to check this out:

http://www.chattotext.com/amember/go.php?r=1386&i=l0

It's a 5-minute video about a brand new tool you can add to your social network page (works now with Facebook and Bebo, and soon MySpace). You just add it to your profile page and your friends can send you a private text message to your cell phone, and you can reply with your cell phone and they'll get it while they're still on your profile page!

It's called Chat To Text.

It's all explained in the video:

http://www.chattotext.com/amember/go.php?r=1386&i=l0

I've installed it on my profile page - look for the 'Text Me' box on my page and send me a text message to my cell phone...too cool!

Let me know what you think!

Chris

Click to view A.R.Suarez's profile Professional A.R.Suarez 4 posts since
Feb 22, 2009
14. Re: Is radio and/or print advertising effective for real estate marketing? Feb 23, 2009 12:10 AM
Hello,

Real Estate seems to be running into a lot of trouble as of late, particularly with marketing. Many agents, homeowners, etc., are struggling to find the mos efficient medium to advertise in.
I encourage specificity. Radio is a tough tool, one I typically abstain from. It has less science and quantification capabilities than others.

Here is What I Recommend:

1) Determine whom you are marketing to; are they dirt poor, are they rich? For each property, I recommend figuring out what a property's potential buyers subscribe to, what rallies they attend, where they socialized, etc., then sticking an advertisement where they will notice. The local newspaper is also a good idea.

2) Train or recruit a copywriter of good caliber. There is nothing like a "double" sales tactic: one written, one spoken. Heck, if you have really good copy and a wide-circulation target specific medium, you might just rake in the money.

3) You mentioned local, which may be tough. Does your local market have enough residents to qualify your property value?

4) Set-up a newsletter and/or "This Month's Special" or property listing updates. If you acquire enough subscribers, someone will see a house they like, or mention it to someone who would be interested. You also create long-term customers this way.

*Is It Cost-Effective*?

Advertisements, especially in magazines, can be expensive. It is therefore your responsibility to determine if you have the right market. However, if you receive your return on investment, the initial expense is nothing. I have seen paper and magazine ads between $200-$2000.

Regards,

A.R. Suarez
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