Do you know which of your leads are the most valuable? Generally, one referral lead is worth four sign calls and 20 internet leads! Increasing your sphere of influence and satisfied client base will increase your most valuable leads. If you are not already doing so, begin to contact your SOI at least monthly by mail, and include emails and phone calls in the mix so that you are contacting them about 18 times in a year.

"On average, agents and brokers typically spend 10 percent of their gross commissionable income (GCI) a year on marketing - four percent of which is allocated to direct mail and six percent to online/web/email channels." To read the entire survey press release, click here.

Those are the findings of a recent survey by QuantumDigital, an online provider of direct mail services. In the survey, they asked 10,000 real estate professionals about their marketing practices. The results are a pretty good guide to ensuring your marketing efforts are up to or above standard.

How do your practices measure up? What percentage of your GCI are you spending on marketing and how does it break down? We would be happy to analyze your marketing needs and efforts and suggest any needed improvements. You can contact us by email, through your Key Assistant, or by scheduling a call with Steve Kantor, Best Agent Business president.
Here are some other highlights of the study:

• SOI marketing still leads to the most new business.


• Email is mostly used for customer retention and follow-up.


• Direct mail and online marketing are used for customer acquisition.


• 67% of real estate professionals are part of an online social network.


• Top two social networks for real estate professionals are LinkedIn and Facebook.


• Top two cited real estate blog sites are ActiveRain and RealTown.


• Top three listing sites are Realtor.com, Craigslist, and corporate/brokerage web sites.


• Mail and email campaigns typically hit 200-400 local contacts.


• Real estate professionals need to touch their market at least 18 times per year!

How do you keep in contact with your entire database? One way, even more effective when combined with other marketing plans, is to send a monthly email.
We advise sending a monthly email during first week of the month to your clients, your sphere of influence, and all buyer/seller leads. Sending a monthly email only takes a few hours to write, edit, and send each month. We suggest a quarterly rotation of three types of emails:

• Market conditions: A summary of market conditions in consumer (not real estate statistician) English, offers for a CMA for seller’s or buyer’s mortgage pre-approval or credit repair for buyers, and a link to your website for more detailed charts and graphs and a longer version of market conditions.


• Helpful home ideas and vendors: Something of value which relates to the home. This may be a coupon from a local plumber or vendor, useful tips for the home, or something which connects you and the warmth of a home.


• Personal/holiday/events: An email which is not about the market and not about the home, but a bit about you personally, perhaps a holiday, and hopefully an invitation to quarterly Client events. For example, we suggest quarterly ideas of New Years/Valentine's Day; Summer Coming, Back to School, and Thanksgiving.

All monthly emails should have a catchy subject line that makes people want to open and read the email. All monthly emails should include a short personal question and note at the top of the email which encourages people to respond to you. The goal is to get people to reply and interact with you.
Everyone should be sending a monthly email to hundreds of their contacts through Top Producer or Agent Office. We would love to see your emails, help with suggestions and to share ideas. We help many clients create and send out their monthly emails, in addition to their other types of mailings and we can help you too! Just contact Best Agent Business for more information!

With the increasingly difficult real estate market, many agents are training and specializing in Short Sales. A Short Sale usually occurs at the beginning of the foreclosure process. The bank will sometimes allow a homeowner facing foreclosure to sell the home for less than what is owed on the mortgage. This benefits all parties involved: the bank has fewer costs and may get a higher amount than a foreclosure auction would bring, the home-seller comes out with somewhat less damage to their credit and self-esteem than a full foreclosure would cause, and the home-buyer gets an outstanding bargain! The benefit to you, the real estate agent, is a larger market of homes that are actually selling with more frequency! If you already are or decide to begin specializing in short sales, Best Agent Business has the resources to help you grow your business. Just send us a quick email or ask your Key Assistant for more information.