Reg Gupton asks: ever wonder how buyers find their agent?

Reg Gupton here.

More from the NAR Home Buyer and Seller Profile.

I see many agents spend money and time marketing themselves without paying any attention to what is working and were their leads are coming from.

Based on NAR research here is how buyers found their agent.

43% referred by (or is) a friend, neighbor or relative.
11% used agent previously
8% Internet web site.
6% visited open house.
7% saw for sale sign
5% referred by another agent.

These 6 sources comprise 80% of the possible buyers. The 80/20 rule is alive and well.

If I were creating a marketing plan, I would develop my strategies based on the the list above.

Looking at the list above you will notice that the worst case is 4 times as many leads come from referrals than another source.

So until I had my marketing set up to market to my friends/family, sphere of influence, I would not focus on the remainder.

Stay focused on your warm market. Build your list asap.

Hope this helps you grow your business.

To your continued success,

Reg Gupton
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