Attacting Home Buying Clients
In addition to the home buyer prospecting techniques outlined in the last section, it’s also important to invest in background advertising, or advertising done to build name and face recognition in your community.
Here are some approaches:
- Place your ad on bus benches and grocery carts
- Write real estate articles for your local newspaper or magazine (with a large photo of yourself at the top)
- Purchase program space at the local performing arts center (as a former musician, I’ve seen bored audience members read the program cover to cover)
- Advertise on movie previews
- Record a radio ad with your own voice
The odd thing about background advertising is that it can cost thousands of dollars, yet it is unlikely that anyone will see your ad on a grocery cart, think “we have to work with this guy/gal” and list with you immediately.
But ever wonder why the same soda commercial will show four or five times during one TV show? Studies show that it takes consumers 30 or 40 brief encounters with a product before they are motivated to purchase it. In this case, your services are the product, and background advertising is an essential part of building name recognition and creditability. When people know your name and face, they will be more receptive to speaking with you when you knock on their doors, call them up and meet them at social gatherings.
Some successful real estate agents will brag about spending eight thousand dollars on background advertising per month, but this amount is extreme and unnecessary for beginning agents. At the beginning, spend one or two thousand dollars your first year and focus your energy on prospecting. As you increase your income, considering augmenting the amount that you spend on background ads.