Five Ways To Save Money In Your Real Estate Business

Dated: 07/31/2018

Views: 286

1. Think Beyond Mailers batch, business, close-up

A lot of new agents think mailers are the best way to get started, but right out of the gate they can be an expensive way to get started. Usually if you were to purchase a dialer for about $150 a month, you can contact specific numbers within a community. This method is called “Circle Dialing”. With this method you can also call expireds, for sale by owners, and withdrawns in the same way. In this way you can effectively market yourself to these people and ask them if they want to list their home without spending more than $150 a month -- which could be a very cost effective approach.

2. Get in Touch With Your Local Mortgage Broker or Title Company

If you are still interested in sending out mailers, get in touch with your local mortgage broker or title company. Please be aware that there are restrictions to how they can help you due to RESPA as to how those companies can contribute and how much they can contribute. For example, if you are going to send out a postcard or door hanger, you can put your information on the front side, and the mortgage broker or title company can have their information on the back side. This could cut your mailer cost in half.

3. Use Facebook to Target Clients

You can use Facebook for more than sharing your business with your friends. You can also use the site to target clients. If you create a postcard or flyer digitally, you can use Facebook as a tool to put that flyer directly in front of homeowners who live in a certain neighborhood, community, or location.

4. Discounted Lockboxes

Usually, if you call your local board of Realtors, they have lock boxes for sale. Whenever you get a listing, you have to put an electronic lock box on the door so that other Realtors can have access to the property to show it to their potential buyers. In most cases, a new lock box can cost around $100. But, if you contact your local board of Realtors or visit their website, they usually have a forum where previous owners of lockboxes will give them back to the association, therefore cutting back your price to around $50 - $75.

aerial view, architecture, autumn5. Digitize Open House Materials

Usually during an open house, agents have materials they’ve printed ready to hand out to any potential buyers. This can be costly because you would have to pay for good materials, paper stock, ink, etc. And if you’re holding open houses regularly, these costs can start to add up. Instead, as a customer comes in to the open house have a template set up for them at the front door that says, “For your digital flyer or brochure, text “HOUSE” to [your number]”. If you use a digital text code they can get the flyer to their phone, therefore, cutting back your cost on marketing materials.

If you’d like to read more about how Preferred Real Estate Brokers can help you succeed, click here.

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