TO ADVERTISE AND EXPAND...OR NOT

Real Estate

When is enough money enough? When we are busy up to our eyeballs? What is the cap on marketing? What rate of return on investment do we set for each advertising company? Which ones work? When is the conversion and what percentage will I get from leads? I went to college and majored in Advertising and Marketing with a minor (dbl major) degree in Business. wouldn’t I have all the answers? If not me, then who? Straight away from day one, I took marketing my business very seriously. I committed to social media presence, blogging (like now), educating my self in every class available, purchasing all of the materials and hardware necessary, reading, calling, working floor time, and even selling challenging deals! In my GRI 202 class this past week, I read that lead conversion rate is 1-2%...uh whoa! In this percentage, how many of the agents are actually following properly? A speaker on the Million Dollar Pipeline program with market leader stated that he and his wife chose to find a REALTOR® the “common” way by calling numbers on signs, reaching out to local companies, and connecting to local companies online through their cell phones; he stated that they got a response from only one agent!!! That’s terrible. Apparently people are making too much money to return calls. And these people weren’t calling about a $30k piece of land(not that it should matter),  they were calling for a home in the upper $300s range. Why are people in business if they’re not willing to grow with it?

I understand everyone’s goals are different and success is relative, but couldn’t you keep residual income coming in just by expanding your business with other likeminded, hard-working people in the same industry? Sure your name is associated, but so too are hairdressers in the same business, attorneys in the same firm, CPAs in the same office, and agents under the same brokerage for that matter—somehow will are guilty or praised with the mere association right? Then isn’t it fair to assume that you can take on an additional agent (possible team), CPA, lawyer, or hairdresser who helps with operating costs, the demand load from customers, and the spread of your company name (maybe even at a small additional percentage of their income) to grow your business? I’d rather take my chances on growth than turn business away and get ran over by the competition.

The story that comes to mind is the McDonald’s based movie The Founder directed by John Lee Hancock that shows how Ray Kroc (a struggling salesman) met Mac and Dick McDonald while running their new-concept fast food burger joint in the 1950s, and made their idea into the crazed market we see today! The brothers didn’t want to expand; they were so concerned with the quality and value in what they were delivering that they were ran out of business. I understand where they were coming from 100%—it is so hard to trust anyone with YOUR business. No one ever oversees things, cares for the quality and consistency, or treats work like they own it just as you would...this is mostly true because others will not reap the same rewards, but you must release the concept of control and understand that many will bring even better things to the table. It all boils down to finding that perfect person—that perfect team that communicates, operates, works, acts, respects, cares, talks, and walks like you do. They may be so much like you that they branch out on their own, and that is okay! Be there to encourage them to make a name for themselves to, support their business, and bring them positive communications as they’ve helped you prosper, grow, and succeed (or better). Never forget those who help you on your path. And after all,it is your path, and this is just my two cents...

I want to give my business all or nothing. Reinvest in my business so that one day my business is working for me and I don’t have to worry about my retirement or my children’s stability or even my grandchildren working as hard as I’ve had to. I want to know that every minute I spend away from my children counts and that the moments lead to greatness. There is no better time spent than investing in my family, our experiences, and our lives together to be richer and more meaningful. If that means substituting advertising, paying for an assistant, or risking it all to grow with the successful for the silly wants I have today, then Okay! I don’t mean important things like being present, spending time, and making memories...no! Those always take presidence in my opinion. It’s all in the balance though I’m speaking wildly in this since I’m still very much teetering on the scale! Namaste...