Indiana Real Estate Connection

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Comment by Roy Lee Barrett on November 26, 2009 at 10:39am

Happy Thanksgiving!
Roy Lee Barrett
roy@betterindy.com
www.RoyLeeBarrett.Com

Comment by Roy Lee Barrett on November 26, 2009 at 10:38am

Comment by Arnie Goldberg on November 26, 2009 at 6:23am

CUSTOMER LOYALTY
Keep in mind, the more ways a client and potential client hear about
you, the more likely you will create brand awareness and ultimately
receive more referrals and create more new clients... Sound strategy
must include:
1. A Plan of Consistent Contact with Clients
2. Building your Network Sphere of Influence
3. Dedicated Activity for Creating New Relationships

HOW DO YOU APPROACH THIS IN YOUR BUSINESS?

Comment by Beverly Fast Sinclair on November 15, 2009 at 9:55am

My new website is almost complete. www.avoidindyforclosure.com. Any feedback would be great.

Comment by Michelle Collins on November 6, 2009 at 11:25am

My photography has a bit more of a romantic flair than documentary style, however; if you ever are in need of a different perspective to aid in the sale of a home or business that traditional photography doesn't do it justice, please feel free to call on me. www.ambiencephotos.com or www.ambienceartisticphotography.com Smiles

Comment by Derek Crager on June 13, 2009 at 8:22pm

Hey Arnie,
How are things?
Drop me a private message and tell me about what you and Ron are up to. Last time we talked at the Jewish center you were working on something else.
http://IQuitRealEstate.com
Derek Crager

Comment by Jeff Bowe on March 5, 2009 at 12:14am

Exciting new opportunity in Real Estate!

AmState is in Indiana! Why will we be the fastest growing real estate franchise in the country?

* A way to let agents be agents and brokers be brokers while maximizing the current income of everyone on the team
* Dedicated area trainers in each office every week plus 24/7/365 training by the nation’s leading trainers
* Bringing other financial services into the real estate office in a way that both agents and non-agents can benefit from team sales
* A completely integrated overriding compensation plan that will provide agents and brokers a retirement plan

If you are open to the idea of how to make more money in the career you love, and you have wondered how to create a team of people around you that are actually motivated to help you succeed, then you need to attend one of our introduction and recruiting nights.

Meet and Talk With:

* Larry Smith, CEO of AmState
* Ron Sukenick, Regional Vice President, Indiana and Southern Illinois
* Jeff Bowe, Regional Director, Indiana and Southern Illinois
* AND Soon to be Announced Area Trainers and Brokers who are ready to BUILD THE AMSTATE TEAM!

Tuesday, March 10 6:30-8:30 PM or
Wednesday, March 11, 7:30-9:30 AM

7164 Graham Road, Suite 180, Indianapolis, Indiana 46250

RSVP or send questions to amstate.indiana@gmail.com or call Jeff Bowe at 317-508-6601

Jeff Bowe, Regional Director
Indiana and Southern Illinois
http://504359.myamstate.com Real Estate Website
http://504359.amstatewealthbuilder.com Wealthbuilder (Non-realtor) Website

Comment by Matthew A. Griffith on February 24, 2009 at 2:29pm

"Ask Matt" meeting about landlording tonight. Details at http://www.cireia.org

Comment by Matthew A. Griffith on January 24, 2009 at 9:18am

Check out www.cireia.org

CIREIA is starting a discussion page soon. EVERYONE interested in invested real estate should join that group.

Comment by Arnie Goldberg on January 22, 2009 at 8:02pm

Realtor Customer Base Marketing
Important information
A National Association of Realtors Technology Survey in 2007 found that REFERRALS, REPEAT BUSINESS and INTERNET were the main sources of leads.
And I have found in realtor surveys that the majority of realtors are still spending more of their marketing budget on soliciting new clients than on their customer base. Why?
The traditional brokerage office is still hiring as many agents as possible, hoping for as many sales as possible, and using old techniques like open houses, floor duty, and email. I include email because email is now a marketing tool that is loosing it’s value.
New technology and a new approach
The advent of the social media boom, the massive availability of information on the Internet, the younger generation of multi-tasking and fast paced living have dictated a major shift in the way realtors approach their business.
The information below reviews the need to consider a shift from traditional marketing budgets to a new approach. The low cost of advertising and publicity and information gathering allows realtors to allocate more to customer base marketing than prospect marketing.

Marketing Costs Per Closing
Assumptions:
• The realtor tracks their commissions (If they don’t I bet the IRS does)
• The realtor tracks marketing costs
• The realtor tracks revenue from repeat and referral business closings (Although many do not, we suggest they begin immediately as it takes more and more knowledge of their business to survive and/or grow today’s climate.)
Realtor tracked - customer value
• Original commission earned on purchase of a home $ 3,200
• Referral to a neighbor for a listing which sold $ 3,800
• Listing customer’s home/repurchase of a new home $ 8,200
• Referral to a home builder (2 sales in 2 years) $ 5,500
• Listing of older parents moving to assisted living $ 3,100
• Introduction to HR person where customer works
(value undetermined as of yet)
Total $ 23,800

Economics

Closings per year (assuming) 30
Commissions $90,000
Total Marketing Costs $6,000
% of Referrals 70% or $63,000
Marketing cost on Customer Base 30% = $ 1800.00 (typical)
Marketing on Prospecting 70% $ 4,200.00

Marketing Costs New Prospect Closings $4,200.00 or $466.66 per closing
Marketing Costs Referral or Repeat Business Closings $1,800.00 or $85.72 per closing


Re-alignment of marketing dollars

If your referral and repeat business is 70% of your income, why spend only 30% of your total marketing investment on your customer base.
We strongly suggest you reverse the marketing investment and allocate 70% of total budget dollars toward your customer base.

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