Real estate agents and brokers are making heavy investments in technology tools to grow their businesses. A recent ActiveRain and Market Leader survey of more than 2,000 real estate professionals found a marked increase in spending on technology and tech-related internet and social media marketing services, particularly among top-earning real estate agents. While survey respondents said they still relied heavily on direct mail campaigns, internet-driven marketing campaigns are the wave of the future.
According to the survey, Realtors whose annual income topped $100,000 spent 5 to 10 times more on marketing their business than their less successful peers. Marketing investment appears to be a key determinant in real estate success. The survey found that the most successful Realtors only worked 10 more hours a week than their peers, but they spent twice as much on marketing and raked in twice as much in annual gross income.
The most successful real estate agents spent 79% more on their real estate website and 22% more on contact management tools than their competitors. The bulk of online marketing budgets went to online lead generation. Spending increased on technology tools, but agents spent only half as much on tech tools as they did on lead generation. Successful agents felt they received the greatest return on investment from customizable agent websites, contact management tools and virtual tour creation programs. Search engine optimization, social media and blogging topped the list of internet-driven marketing expenses.
Another interesting survey finding is that top agents aren’t going it alone. Expenditures on professional marketing assistance and training are rising. As investment in internet marketing continues to increase and internet technology management starts to take a bigger bite out an agent’s day, this trend of turning to the online marketing experts is expected to continue.
Properties Online is dedicated to helping real estate professionals market and grow their business. We offer innovative technology tools tailored to meet the needs of real estate agents and brokers. Visit our website to find out how we can help you grow your real estate business.