Of course, big money can be spent on marketing, but it might not be necessary. In today’s market, the most important investment is providing value and building trust and relationships. And, those don’t have to be expensive. (Check out other ideas in How to Get Listings Without Cold Calling)
Ideas on low cost ways to grow your real estate business
Reach Out to Friends and Family
Open houses
Email newsletter
Social media
Personal notes
Buyer/seller seminars
Start a Podcast
Free home valuations
Network
Choose a Farm Area and Get Involved in the Neighborhood
Reach Out to Friends and Family
You probably were directed to get a network together from your friends and family when you started in real estate. Well, don’t forget about that valuable list once you have worked through it once or twice. Go back to them often to remind them that you are still interested in their business.
Open houses
Many busy agents in your brokerage will welcome you to work their open houses for them. It is a quick way to add to your database and pick up unrepresented buyers. Often, the people that come to an open house are the neighbors. You can establish yourself as an expert in the area, and if/ when they are ready to sell, they need you. Don’t miss: Ways to Make Money with a Real Estate License (Without Selling a Home)
Email newsletter
Send a monthly, or even weekly, email newsletter to your entire sphere. There are many free email service providers out there, and if you’re using a CRM, it likely has newsletter templates.
Social media
Make sure your content is relevant and is consistent with your brand and message. You also should create engagement with others. Plan to spend roughly 30 minutes twice a day actively engaging with friends and followers, such as commenting on their posts, asking questions, or giving additional information. It is important to note, with social media, the word to remember is CONSISTANCY. Be consistent with your message, be consistent with your branding and be consistent on your timing – post at a regular pace. Put your social media skills to work: Turn Your Passion of Social Media into a Real Estate Business
Personal notes
Who doesn’t like a handwritten note, especially these days? Slide this into an evening ritual.
Buyer/seller seminars
These days it’s acceptable to host seminars via streaming, so you can eliminate the cost of a rented room. If it is a zoom format, you can capture attendees’ names and contact information at registration. Then you can promote the virtual event through your Facebook page and inviting your friends and followers.
Start a Podcast
Clients are looking for an agent who is an expert in their field. Consider starting a regular real estate podcast for the local market. Once again, besides discussing current housing trends, you can get a lot of information from Redfin. You might also like: What Does a Typical Day Look Like as a Real Estate Agent?
Free home valuations
Free home evaluations, or CMA’s, can be a great tool to inspire someone to sell. Print out the report, and include a cover letter with a hand-written signature. Put it in an envelope with a hand written address (to increase your open rate) and send it snail mail. Don’t forget to follow up with a phone call a week after it goes out.
Network
Networking is one of the most authentic ways to build relationships and win business. Find an organization that resonates with you, like your local government, charities, Worship centers, local business networking groups, or your kid’s sports team.
Choose a Farm Area and Get Involved in the Neighborhood
Targeting a specific area and working it to get leads, known as farming, can be a very successful strategy. It is great if you can farm an area that you live in or are very knowledgeable about. Once you have chosen your farm area, do whatever you can to get involved. You could host events, block parties, or work with the local schools or charities.
Check out more ideas in: How Do You Start a Successful Real Estate Career