Editor's Note: Due to an error in the Web site address in yesterday's e-News, we are rerunning this story with the correct address in today's edition.
Commentary by Marlin Cone
RISMEDIA, April 18, 2007-Last month, we addressed the fact that despite all of the new entrants into the real estate industry, NAR still reports that the average age of a Realtor is 57, and whether or not agents are in touch with the largest group of home buyers the last few years-Generations X and Y. Now, we will examine how in touch Realtors really are and where their ad dollars should be going.
First thing-analyze your budget. How are you spending your marketing money? Are you still spending the majority of your marketing budget on print media?
Or, are you now spending the majority of your money on your online marketing presentations (which cost less in total, cost fractions on a "per-impression" basis, have a much longer shelf life and provide the viewer with much more information and flexibility to access information than print media)?
Are you amongst the majority within residential real estate who do not have a virtual tour on your listings or do you have a virtual tour on every listing? And, are your virtual tours dated with old concepts and technology like the spinning 360-degree tours or the distorted views that make walls seem bowed-or are you cutting-edge by incorporating virtual tours that deliver to the viewers the information they need to make their decision to select your listing as one of their final choices?
One cutting-edge virtual tour platform now coming about is the FloorPlanOnline program.
"I can't express how excited we are about what the FloorPlanOnline program has done for our business and marketing plan," says Ron Rudolph, an associate broker with Century 21 Advantage Gold in Philadelphia. "It has added a whole new dimension to selling real estate. It has cut our marketing costs, given us more double-ended buyers and has resulted in our getting more listings.
"For years now, I have been upset at what we've had to pay for print media ads when I knew that more and more buyers were going to the Internet to find homes," he continues. "Who reads the papers anymore? Now FloorPlanOnline gives me a much more effective alternative that has a far greater reach, a far greater shelf life and costs much less.
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