Many real estate brokers are just starting to create online marketing campaigns or just launched their new website are always faced with the big challenge. Harsh competition form other real estate offices. Why you may ask ? Well, the answer is simple. Too many brokers have invested and continue to invest in online marketing heavily because these day is the most profitable form of lead generation especially for new sales or rental leads. Why is the competition so high in this industry ? Because, most real estate brokers tend to out-compete the other broker as we all know for a potential prospect which could easily lead to a high commission. Lets say a real estate office invests in online marketing about $30,000 to 40,000 a year and they get 5 leads in the first few months which results in 5 different commissions. And these commissions could range from 10K – 50K each and remember in the first few months. You do the math, they probably pocket an additional 100K so their return on investment is about $60,0000 give or take.
This is why real estate marketing is so competitive nowadays because every one out there wants to take the big bite and especially in the luxury apartment rentals.
New strategies need to be developed to dealing with your real estate competitors in order to profit from online marketing.
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