Referrals remain in top spot; YouTube and video sites bump blogging from last place; Agents get lower results from print marketing toward end of year
Announcing the results of the HomeGain Realtor® Marketing Preferences Survey reflective of cumulative data from May and August surveys.
Based on responses from over 1,200 real estate agents and brokers nationwide, the results show a large dependence on referrals for acquiring new clients, with a cumulative overall score of 8.9 out of a possible 10 for effectiveness, which is slightly higher than Realtors indicated in the December-February HomeGain Realtor Marketing Survey.
Leads from their brokers and events, which includes open houses and fairs, are considered the next two most effective marketing strategies, replacing featured listings and email campaigns as indicated in the December-February survey.
Postcards and mailers were bumped from the fourth rank in the December-February survey to sixth, but for August results alone, it was scored as the eighth most effective strategy. Print ads were bumped off the list as a most effective marketing tactic, but listed as their ninth top marketing objective.
Survey results show a substantial decline in agents’ marketing results with blogging (moving from the fifth spot to eleventh spot since February), but an increase in social networking, which includes Facebook, Twitter, MySpace and LinkedIn, particularly with Facebook.
Agents’ opinion of how effective getting leads from their brokers was scored 6.0 in the May HomeGain Realtor Marketing Survey and decreased to 5.5 in August. Similarly, agents scored the effectiveness of participating in real estate focused events a 5.3 in May and only 4.7 in August.
Four least effective strategies and marketing objectives that did not make either top 10 list, from highest to lowest score, are blogging, outdoor ads, pay per click and banner ads.
Top 10 Effective Marketing Strategies for Realtors:
- Referrals (Total score of 8.9 out of 10)
- Leads From Your Broker (5.7)
- Events (5.0)
- Featured Listings (4.7)
- Email Campaigns (4.6)
- Postcards/Mailers (4.5)
- Craigslist (4.3)
- Social Networking (4.3)
- Online Lead Generation Services (4.3)
- YouTube / Video Sites (3.8)
(Cumulative Averages, 1=least effective/10 most effective)
Top 10 Marketing Objectives for Realtors in 2010:
- Referrals (8.8 out of 10)
- Leads From Your Broker (6.0)
- Events (5.7)
- Email Campaigns (5.3)
- Craigslist (5.0)
- Postcards/Mailers (5.0)
- Social Networking (4.9)
- Featured Listings (4.9)
- Print Ads (4.2)
- Online Lead Generation Services (4.0)
(Cumulative Averages, 1=least likely to use/10 most likely to use)
Surveyed agents indicated that they will continue to focus on referrals as their leading marketing strategy for the remainder of 2010, followed by leads from their brokers, events and email campaigns respectively. Craigslist moves up to the fifth top objective, and featured listings moves down from the fourth to the eighth top objective.
Cumulative averages are based on two surveys conducted in March and August 2010.
HomeGain conducts regular surveys of Realtors, including the HomeGain Home Improvement Survey, a quarterly HomeGain Home Prices Survey, and a Green Home Improvement Survey. The 2010 fourth quarter HomeGain Home Prices Survey results will be announced next month.
HomeGain’s AgentView online marketing program provides real estate agents with several of the top 10 most effective marketing practices for reaching potential home buyers and sellers in an all-in-one, exclusive and ad-free platform.