Real estate marketing: The real cost of new vs. repeat business

Marketing can be expensive, especially when you're working on commission. And, as the old adage goes, “It takes money to make money.” But, the question remains, how much money does it take to successfully market your real estate services? Unfortunately, there's no easy ROI formula for Realtors®, but there is a way to maximize your marketing budget. Your highest ROI can be achieved by spending more time building relationships with existing clients than chasing after new leads.

Finding new clients can be expensive and time-consuming.
Many real estate agents pour money into expensive online real estate platforms. These platforms are highly competitive, and even the most conservative plans can cost you between $200-$300 per month. So, what's the solution?

Repeat business is much less expensive.
The vast majority of clients who are extremely satisfied with their home-buying experience want to work with their Realtor® again in the future. The problem is many of them have lost contact with their agent by the time they're in the market for their next home. Your positive relationship with past clients can continue to develop with a relational marketing strategy that requires much less time and investment than developing a new client. And when your past clients are in the market again, they'll know how to contact you.

Relationship marketing means more referrals.
Your referral business will grow rapidly as you continue to remind past clients about the great service you provided them. With your name top of mind, they'll happily refer you to their friends, family and coworkers.

We'd like to share a referral from one of our highly satisfied customers.

“Without repeat business, a real estate company is going to fail. They can go out looking for new business over and over and over again. The cost involved in creating new business is far more expensive than the consistent follow-up that it takes to create business from your existing clients,” says Wayne Murray of Weichert, Realtors® who has been using the Client Follow-Up Program for 15 years. “That's an opportunity where you're going to create business for a lifetime.”

Are you ready to create business for a lifetime?
Check out the Client Follow-Up Program. This marketing program keeps you in touch with your past clients with 23 mailings over 5 years for only $25.

While it may take money to make money, with the Client Follow-Up Program, you won't need an expensive marketing budget to stay in contact with past clients, who are your best source of referrals.

Comments are closed