It can be a career death knell to allocate nothing to marketing until you get a commission, as it may be too late by then. If you're disciplined at money management and don't already owe a lot, debt is a reasonable tool for this purpose. A certain credit card limit amount can be allocated to marketing, and that amount can be budgeted over the first year. If you want to cease using the debt when commissions are coming in, that's good, but keep to the marketing spending plan out of the commissions.
New Real Estate Agent Marketing Budget
By James Kimmons, About.com Guide
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Determine The Available Marketing Budget
There's lots of advice out there about this. A common tip is to budget 10% of your commission income for marketing. That's OK, but difficult, considering you don't know what that income will be. Adding a percentage of commissions to a base budget amount is easier to plan and logical. If you're doing well, spend more on marketing to keep that trend going.
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- Determine The Available Marketing Budget
- Once You Know How Much - Plan for Quickest-Result Marketing
- Track the Results of Each Marketing Method Carefully
- Keep Up With Real Estate Marketing and Customer Trends and Act on Them
- Don't Overlook the Tried-and-True Free Marketing that Works
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