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New Real Estate Agent Marketing Budget

By , About.com Guide

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Track the Results of Each Marketing Method Carefully

"Don't keep doing the same thing over and over and expecting a different result" is an old saying that applies. Don't be doing direct mailing into a subdivision five years from now and not know how much in commissions the mailings have generated. Markets change, marketing methods change and new ones come along. You'll be far more effective long term if you keep up with the return of each marketing method over time. Then you can switch money around to the ones that work best.

For all types of marketing, have a prospect management system that is set up to have a field where you enter where that prospect came from. If you can't track it by how they got in touch, then ask each one. Some won't remember or will give you multiple answers, but do the best you can to record where they came from. Later, you'll run reports by marketing method and know how many prospects you've gotten that way. If you also place commission amounts in the prospect (now client) record, those reports can tell you how much money that method has produced over time.

For internet marketing, it gets easier and far more accurate to determine how many prospects you've received from a web site, right down to which page or form they used. This is tracked with the web site statistics. A good site provider can also track your marketing by prospect name and the end result, purchased, sold, or removed.

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