"Perception Is Reality"

"We're heading for a recession…" "Real estate is in a slump…" "Unemployment is up…" "Foreclosures are on the rise…" "Real estate prices are crashing…" "The bubble has burst…"

Oh good grief, I'm so tired of hearing it, I refuse to listen to it anymore. I've had enough. I know I'm not alone either, most of us would simply love to tell the media's talking heads to stuff a sock in it. But when it comes right down to it, what are we actually doing to improve things in our little corners of the world? Obviously, when the market around us changes, we need to adapt and change with it - and continuously moving forward is the preferred direction if you have any interest in surviving.

"How? What do I do?" Well it's nothing new, marketing is the key. I've heard a lot of realtors complaining about their business (or lack thereof), but I only see a few doing anything new… most aren't doing anything at all, hoping their company's meager marketing efforts will support them. Company marketing does help branding and name recognition but how much does it help you? Very little other than putting your face with a familiar brand. It's up to you as a realtor to promote yourself and although in an ideal world you should reserve about 20% of your income for marketing, it doesn't have to be big budget stuff. What it does have to be, is consistent and of good quality.

When things slow down and business suffers, the usual knee-jerk reaction is to cut corners and save money… lower expenditures. It's an understandable desire but choices need to be made carefully and with a well-planned strategy. A Creative Consultant can be an invaluable asset in times like this, helping you to use your marketing funds more effectively. Because marketing is often seen as a money drain, as opposed to a money generator, the decision is often made to conserve funds by cutting back on marketing… sometimes by reducing quantity, sometimes by reducing quality. Either one of these decisions can be a critical mistake, creating a downward spiral of missed business opportunities that accelerates like a runaway truck on a downgrade without an off-ramp.

This disastrous cascade effect often leads to total business failure as the attempt to save funds actually reduces business exposure, thus reducing new business, which lowers income, which repeats the cycle again. The good news is that the downward momentum can be stopped if you correct your marketing habits. The bad news is that many people are in the same predicament. The great news is that if you correct your habits before they correct theirs, you will garner a lion's share of new business. And when the real estate industry begins its recovery, you will be well ahead of your competition, riding the upward wave like a pro surfer.

"What can I do that will make a difference?" With the current financial atmosphere and constant bombardment of negative media attention, what the public sees and hears is what they perceive as reality, even if it happens to be an exaggeration or distortion of the truth. Marketing is a crucially needed positive force to combat the media's manipulation of the public opinion. If a void for positive information persists, (lack of marketing), it simply reinforces the negative media message.

Although I'd like to say any advertising is good advertising, that's a long way from the truth. You can spend your marketing dollars frugally and effectively - but beware, frugal does not mean cheap. If you go cheap, it will show and your efforts will be wasted - ugly marketing is ineffective. If you're going to do something, do it right. Neatness counts, printing quality counts, so does creativity and experience. Don't be afraid to hire a professional, (for the same reason you want someone to hire you to help them buy or sell a home), involving a professional increases success. It's time for Realtors to return to the marketing basics that work, like direct mail, newsletters and email. Keep it simple. Keep it consistent.

"...when the market around us changes, we need to adapt and change with it..."

"A Creative Consultant can be an invaluable asset in times like this, helping you to use your marketing funds more effectively."

"...what the public sees and hears is what they perceive as reality, even if it happens to be an exaggeration or distortion..."

"...ugly marketing is ineffective. If you're going to do something, do it right."