This would be a normal view when you accidentally pass by any properties around the Klang Valley for sale. It would be a tough choice for anyone to choose which real estate agency firm to call.
It happens not because of a competitive market nowadays but often the real estate negotiators or agency firms are having a difficult time managing their budget in marketing their property portfolio.
Most of them who I’ve spoken to, insist these are the main issues which overcast their business. It is not there is no lead or no choice to market their property but spending the marketing budget sometimes goes hay-wire during the peak of the demand.
There are plenty of tips out there. The one I commonly heard is budgeting your property marketing expenses not more than 10% of your commission income. In theory it would work however sometimes it’s not really that practical.
Scenario One
A very eager new property negotiator successfully closes her first deal to market one high-end property within KLCC. She reports back to her principal to gain a marketing expenses budget. Without enough knowledge she agreed to absorb 10% of her commission income to market the respective property.
In the first month she spends most of her previous income commission on her new ‘golden goose’ to create awareness about her potential jewel. This was one of her main mistakes, a high-end property is higher on the income commission but it would require more time to convert into sales. After the third month, she already spends more than her 10% budget on the commission income.
At the end, she is only able to put her For Sale board to communicate to her future prospect. Catching a fish in a deep sea only with single bait is no longer property marketing.
Scenario Two
One medium sized real estate agency firm came to me last month, he was very eager about his company’s sales target reaching new heights. However one main concern which makes his face turn red is his company expenses have tripled the time.
He shares with me; he is planning to setup a web site, a new branch and a new marketing support team.
Watching him scratching his bald head makes pity come to my heart. Spending another RM45K to set up a new property marketing system to monitor the prospect’s enquiry and interest is not a good idea.
I told him, doing the same thing over and over again and expecting a different result is no longer valid in this new paradigm of the property industry. There are many factors which would make your company stand out from others in the crucial first five years of the company.
The brand, the name, the marketing methods and the people all play a part in this. Managing the business is no longer just successfully converting the sales. He agreed.
Scenario Three
A lawyer friend of mine, a stubborn guy I would say. Sometimes if you’ve to jump into the well to know how deep it is, and you should. The lesson he learned was really a turning point for him.
He has a multiple investment in property around the Klang Valley, managing one or two would be on the tips of his hand. By the end of last year, he and his wife successfully owned more than five properties as an investment asset.
Suddenly everything becomes a tip of the iceberg. If it could sink a Titanic, it definitely shakes his life day and night. What does happen?
He opens a templated blog and is very much excited about the marvel of the internet. Starting to flaunt his asset all over a FREE property portal to include with his mobile number.
Did I warn him before? Yes, multiple times. I said don’t reveal your mobile number and submitting property photographs in an open for all portal. As I said before, he is a stubborn guy.
After a month on the portal, the blog and online ads, his mobile kept ringing non-stop. Good? No… It was all other property negotiator who tries co-broking with him. Which is the one thing he is trying to escape from. The calls keep coming and coming. And thats not all, he is able to get a few prospects to come to see his house but most of them are either bogus or are just a matter of property ‘window shopping’.
A couple of months later, we sat at a mamak stall for Nescafe Tarik, he insists he will never do that again. He has spent most of his ‘cangkul‘ time at the driving range just to entertain a non-genuine prospect. I didn’t say anything tho… it’s good to have him back on the green again.
This is when I would say planning your property marketing budget wisely is the main reason the Kuala Lumpur Property Retail Centre (KLRPC) and propertrack.com came into existence.
With a fixed cost property marketing budget for at least 6 months from RM3.08 a day which comes with 500 printed colour property brochures to help your sales throughout the 6 months will truly be of benefit to your company, your brand and your property negotiator.
You’re able to manage your prospects and leads by getting in touch with them via SMS for FREE using the real estate agency support system.
Having a genuine prospect is a lesson to learn for my friend and he now opts only to use propertrack.com as his property marketing outreach. He practises a sole / exclusive real estate agency firm policy with one of the propertrack.com participating real estate agency firms which enables him to no longer been disturbed by unnecessary calls.
Now, he able to sleep well every night without worrying all his assets are being marketed wisely or not.
You can’t buy a sleepless night but you can budget your property marketing wisely with propertrack.com and the KLRPC
