According to Compete.com internet traffic for October, 2007 is up 24.3 percent over October, 2006.
So when the sellers tell you that they want their ego listing in the local paper, show them this stat and put that hundred dollars or so into a custom landing page for the home. That will really impress the seller and actually help sell the home!
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I look forward to the day of "No more classsified advertising!!"
In the meantime…it would be interesting to get a number of agents to track how people at open houses found out about the property and open house schedule.
This Sunday (tomorrow) I am going to put two check boxes and a blank line to find out if people got the info. from the newspaper, online or agent, or other.
Anyone else want to partake in this informal survey and report back/consolidate findings? Though not scientific, it would be great to be able to look at the numbers.
Scott
Excellent idea. One of the tenents of marketing is finding out what works. I would recommend all real estate pro's ask that question every time. It will help target your customers and show when you change your marketing mix what works and what does not.
Scott,
That would make for a great ongoing series for your blog. At the very least one article dedicated to your results would be of great interest. Let us know the outcome.
We have seen a 2-300% return on online advertising when compared to traditional flyer/newspaper advertising. I have been amazed with the demographics our online partners have been able to provide us. Check out Google adwords first!
I have a 2.5 year old company that is in the top 5 in our market and do virtually no classified ads except for open houses and small reader ads (occassionally) and we nver get into the "our ad is bigger" competition. It takes explaining this to the seller on the front end and they trust us with it. 75%+ of our open house attendees see the sign.