Investing In Your Business To Create More Revenue
Investing In Your Business To Create More Revenue
A Word with Scott Rosenberg, Managing Director of RE/MAX Results Commercial | RCRE. Found online at www.rcre.co
By: Karen S. Kahen
I recently sat down with Scott Rosenberg to discuss the benefits of “investing in your business.”
1. What are some examples of ways that agents can invest money into their business as a real estate agent?
There are a number of ways, but the first and most primary way of investing in your business is by creating a media plan. This allows you to communicate the properties that you have listed and the brand that you are trying to build.
2. When is the right time to start?
The time to start investing in your business is on your first day. The most important document is your direct business statement. This is one of two sentences that explains what you do and how you add value to your clients. This can be followed by a paragraph or two explaining in more detail your purpose, vision and differentiates from the competition. I.e. explain why you are the right choice for the clients you are targeting.
This information can be placed on your blogs, website, print media and listing presentations. There is a lot one can do with this information, but it requires a significant amount of time to produce professional quality literature.
3. Is there a risk involved?
When you get to the expense of putting out marketing material in a trade publication, or direct mail, there is always a risk that you will spend money and not see an immediate return on the dollars spent. There is a greater risk if you are not consistent, and do not follow up the advertising with more advertising. A big part of investing in your business is seeing it through, and recognizing that there is a long-term dividend to creating a brand about yourself and a market presence.
4. How efficient are the dollars invested?
It depends on where the dollars are spent. In my own personal business, I can share that the direct marketing component of my business, a call and response type of advertising, has always generated a positive return. But, it took a year or two of marketing before it started to actually pan out in a measurable way.
5. In your February 15th blog, you briefly mentioned the ways in which technology has changed the way you conduct business. Do you see a way for agents to invest money into social media marketing?
Yes! From my perspective, social media marketing has an impact on real estate, in that it connects your business activities to a larger pool of candidates that you are trying to express your brand to. In the short run, I am not aware of how the investment of time and energy translates into dollars today. In the long-term, it ties into public relations and branding. My business has picked up a lot of referral activity, because it is believed that I am a go-to person. It is difficult to quantify how that happens, but when they see your LinkedIn profile, receive your emails, post-cards and a call from you every once in a while, you are reaffirming that your client is making a good choice.
Scott Rosenberg is the Managing Director of RE/MAX Results Commercial | RCRE, a commercial brokerage on the Westside which focuses on multi-family investment properties. For additional information please email to admin@rcre.co.