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The Real Cost of a Real Estate Lead? Part 2
Information for Buyers
If buying leads isn’t a guarantee, and traditional marketing strategies also fail if you don’t make personal contact, how do you market in the new world of the internet? That is the million dollar question. My company has sattled our horse to the notion of building our own marketing and lead system around the internet which are controlled by our Brokers. Some continue to utilize traditional methods. Personally, I believe a combination of both is still important in today’s world. But I am also betting the farm that the future of real estate will be controlled by those companies that embrace the internet and all of its lead potential. I also believe that reduced commission will be critical in the future but that is an entirely different article. For the same cost as one ad in the newspaper, the client can have unlimited access to a website that describes in detail property features along with a wide variety of pictures, virtual tours, and other neat interactive tools. How is a newspaper supposed to compete with that? More specifically, the future of real estate will be in capturing and controlling leads created via the internet, without having to count on outside sources. The main issue with this of course is the tremendous cost of building and maintaining a website, or websites. To capture significant market share you will need both branded and unbranded websites. There are a thousand companies on the internet that will gladly walk you down this path for a fee. The websites will need to provide content to the client and provide you with lead capture technology. It sounds expensive because it is. Most cannot afford to make this kind of commitment to their marketing budget. Now throw in search engine optimization to the tune of $1000 to $1500 per month so that a client can actually find your websites after you have spent a small fortune designing them. It can be a daunting task to say the least.
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