Two ways to boost real estate profits: stop wasting money on paid ads and SEO, and focus on database marketing instead. Keep your team small and put skilled people in the right roles. Avoid unnecessary salaries.
I think we as Realtors have that tendency to hit the easy button, throw some money at something, hope that it means a whole bunch more leads. But to really dissect and understand where are we getting this business and is there a better way to get the business? Like if you look at this online space or a number of Realtors that have built fantastic websites, they have excellent, you know, organic search engine optimization. They're getting a lot of traffic, a lot of leads, and all of a sudden something changes and now those have dried up, or some other player comes in and starts throwing more money at that particular source, their leads end up drying up. And that's not sustainable to me. I mean, that's an outside factor which is a direct threat on your business. So something as simple as like database marketing, right? Your most inexpensive and most effective source of marketing. And so why not double down on something like that? So that was a big piece for me, was just really understanding our marketing dollars, what has the best ROI and doubling down on those sources. Staffing is another one, right? Like, I think some people may think it's sexy to have this big, huge, massive team with all sorts of different positions and salaried people and everything else, and that's not the case. Like, again, as long as the jobs are being done and they're done to the standard that you have to your expectation, why take on any more risk, any more expense anymore, anything to do the same thing. So just having super efficient people working in the right seats is what it's all about.
