October 11, 2011

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Do You Track Your ROI?

Just as zillow.com published its tips on how real estate agents can advertise - including through its Premier Agents program - US-based real estate agent and blogger James Kimmons shared a detailed break-down of the return he saw from the program.

The result? Even though he received 63 contacts, Kimmons did not see any monetary return at all from the $468 he spent on Premier Agents.

“In general, my perception was that the level of interest and seriousness of the Zillow contacts was low, a lot more shopping than serious buying interest,” he writes. “Definitely, the contacts I get from my own website are far more serious, and they found me directly on my blog, which I think adds some credibility.”

Kimmons’ conclusion is that he likely would have seen a better return-on-investment if that $468 had been spent on pay-per-click advertising. The question for other real estate agents out there is: do you know which ad strategies generate the best results for your business?

Yesterday we saw how few Australian businesses track their return-on-investment when it comes to social media, so our suspicion is that there are more than a few real estate agents out there who don’t know whether their online advertising dollars are working for them or not. Our advice to those agents is start measuring today. If you’re not sure where to begin, start with this advice on building an effective real estate marketing plan.


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