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Brokerage, Industry, Misc

June 6, 2018

What are you paying for your leads right now in your time and marketing?

"There is a cost to lead generation, and you need to examine your cost and compare it to some of the new referral programs available online. I recommend that those who are serious about being competitive in this business over the next 5 years do some web surfing to see what they might be up against and how they can best utilize the Internet in the development of their own business model.

The business has always been about leads. What is one of the biggest time consumers in a REALTORS day prospecting, and working on the development of leads from cold calls to door hangers to direct mail, to signs on listings to classified ads all designed to make the phone ring, leads? Brad Inman says nothing new when he says the business is all about leads. what is new is where many of those leads will come from, how they will be matched and distributed, and if there is a more cost-effective way to develop leads than the old ways many agents and brokers are so used to.

What are you paying for your leads right now in your time and marketing? How can you generate leads from the Internet? What will you (do you) pay for those leads? Is it less than you are paying now for leads (when you consider all your marketing, advertising, referral fees, prospecting, cold calling door knocking, etc)? It is your job to find out what is right for you and how you fit into a changing real estate industry. Referral models are proving to be a third major area of revenue in the real estate sales business...Listings, Sales, Referrals.

Just like many in the industry did not and still do not know about IDX and VOW...many do not know about some of the new business models that have the potential to change the business of real estate. And it is everyone's responsibility to know about the business they are in and know that there is no substitute for your own due diligence.

From someone who has observed the evolution of listings and consumers closely on the Internet since 1993 , from the inside and the outside, I want to stress to you that IDX and VOW are important pieces of a much bigger puzzle... which will put the puzzle together first is the question we are all looking to answer...and by participating with us in our online discussions, you will have a better chance of learning what you need to know about industry changes first, and how these changes might affect your livelihood and your future in real estate."

2002

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