Based on responses from over 500 real estate agents and brokers nationwide, referrals ranked as the number one marketing preference among real estate professionals for acquiring new clients, with an overall score of 8.95 (out of 10) for effectiveness. Referrals also ranked number one in the 2011 and 2010 surveys.
Leads from brokers (scored a 5.6) and Events (5.26) ranked second and third, respectively, as most effective marketing strategies, which remained unchanged from 2011.
Online lead generation services (5.19) ranked fourth, jumping four positions from the 2011 survey. Email Campaigns (4.92) and Featured Listings (4.91) swapped positions from the 2011 survey and came in fifth and sixth, respectively.
Postcards and Mailers (4.9) were bumped down from sixth in the 2011 survey to seventh. However, it scored half a point higher in 2012. Craigslist (4.3) and Youtube (4.1) ranked eighth and ninth, respectively. Youtube scored 0.6 points higher than in 2011, helping it jump three spots.
In the 2011 survey, Social Media sites like Facebook and Twitter were grouped into one category. In 2012, each site stood on its own. Overall in 2011, Social Media scored a 3.8. In 2012, Facebook (4.0) ranked 10th, Google+ (3.7) ranked 12th, LinkedIn (3.61) ranked 14th and Twitter (3.43) ranked 19th. The average of these scores is 3.69.
Blogging (3.91) ranked 11th in 2012. This represents a 0.62 increase and a jump of two spots from 2011.
“Despite the hype of social media as an effective marketing outlet, real estate professionals once again voted referrals as the most effective and most preferred form of marketing,” said Louis Cammarosano, General Manager of HomeGain. “Also coming in ahead of social media were in person events, like open houses, mailing of post cards and online lead generation services.”
Top Effective Marketing Strategies for Real Estate Professionals in 2012:
(Cumulative Averages, 1=least likely to use/10=most likely to use)