We recently wrote about how to optimize your profile on ActiveRain, one of the top social networks dedicated to real estate professionals. Last week, ActiveRain released the following infographic and study based on the responses of 1,758 real estate professionals.
Of these real estate professionals...
The following are some interesting insight into the usage of technology, social media, and marketing & advertising strategies between the highest and lowest earning real estate professionals.
Technology in Real Estate
When it comes to using technology, the most successful real estate agents are spending $3-5K per year on the stuff. This budget is spent on having an IDX website, CRM (customer relationship management) or lead management tool, and maintaining an email newsletter.
Social Media in Real Estate
When it comes to social media usage, the most successful real estate agents spend their time on the following networks to market their business.
This goes to show that blogging is popular amongst half of the respondents and social networks dominate in the order of Facebook, LinkedIn, Twitter, ActiveRain, and YouTube.
Marketing & Advertising in Real Estate
Last but not least is marketing & advertising. The average marketing budget is $5-10K for successful real estate professionals compared to the average $1-3K. Strategies used by the most successful real estate agents over the average include purchasing leads on the Internet (18%), paying for clicks from search engines (21%), hiring an agency for Internet advertising (26%) and SEO / blogging (26%), using direct mail (62%), and advertising in local newspapers (29%).
What is the most effective marketing or advertising methods? The top three written in answers were personal referrals / word of mouth, blogging, and B2B professional referrals.
There you have it - what separates the top real estate professionals from the rest. Are you using these strategies?
Contributing writer Kristi Hines is an online marketing consultant, freelance writer, blogger, and social media enthusiast.
It's not hours worked. It's hours worked productively. That means actually talking to someone or creating a opportunity to talk to someone. You can spend all day playing with your computer but if you don't actualy talk to someone you wont be in that top 20%.
The more things change, the more they will stay the same. The 20% rule will likely be around to stay. I agree with everyone that its definitely worth noting the number of hours worked by the rich vs the poor. Also taking into account the number of hours they may outsource to assistants and others.
I agree, I think weekly time invested should be noted as well. How much time do they put into their site/blogging? Also, how many do cold calls to expired listings or FSBOs? Otherwise, I think it's a great analysis between successful and unsuccessful agents.
Good info.. Interesting group of people.
The average income was $55 – 65K.
Great information. It's funny how the 20% rule is always relevant. I think John's comment about the hours worked is worth noting. Many agents who make less than 40k a year do not work full time. If an agent puts in their 40 hrs they will make a good living.
Good stuff,mbut it would have been good compare hours worked per weak amoung the 2 groups
Really useful information.
Thank you for sharing.