Marketing Tip: The Importance of Marketing in Real Estate

The Importance of Marketing in Real Estate

In this video, Mark explains the importance of marketing for real estate agents and how to use the 20/4/4 concept of marketing to reach your sphere of influence.

From “The Millionaire Real Estate Agent” comes the notion that an agent can get one transaction from every six people he or she knows. However, the agent can get one transaction out of every six people that their friends, relatives, and neighbors know as well! That means your sphere of influence doesn’t just include your own circle of 200 people but also your circle’s circle of 200 people. That is a potential 40,000 people you have a connection with! You cannot afford to market outside of your sphere of influence until you have reached 33 transactions a year. If you are not marketing to your sphere of influence then you are making business harder for yourself!

The 20/4/4 concept of marketing to your sphere of influence is broken down into three parts.

  • 20: Twenty times a year, you need to give your circle a “touch” to let them know you’re still here! Send your sphere of influence a postcard every 20 days to remind them and keep you top of mind. You do this to reach your not only your circle but also your sphere’s circle of 200 people. If you are kept at the top of their mind, they are more likely to refer you to people within their own sphere of influence!
  • 4: The first 4 represents getting face-to-face with members of your circle at least four times a year!
  • 4: Four times a year you also need to do something special for your sphere of influence that does not include your regular marketing pieces or a normal get together.

Remember it is more important to be good at marketing than it is for you to be better! Marketing can determine your success.

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