8 Questions To Ask When Hiring A
Real Estate Marketing Agency
1. What is your experience when it comes to real estate? For example, do you have experience in selling condo’s (luxury, mid-end low-end) , seller campaigns, commercial real estate etc?
2. What are the important metrics you are measuring in a digital campaign?
PRO-TIP:
For real estate this are the most important KPIs:
SALES (needs a crm/customer relationship software to track this). Total TCP (total contract price) sold
Cost per Sales (needs a crm integration to track this)
Return on ad spend/roas (needs a crm integration to track this)
Lead - Inquired Via Contact Us Form
Cost per lead
Phone call
Cost per phone call
Lifetime value of a customer (needs a crm integration to track this)
Likes, visits, time on page are all vanity metrics (figures that can give you a good feeling, but don’t directly affect the bottom line of your company).
Watch a short video where best selling author Eric Ries talks the ineffectiveness of vanity metrics.2. What are the important metrics you are measuring in a digital campaign?
PRO-TIP:
For real estate this are the most important KPIs:
SALES (needs a crm/customer relationship software to track this). Total TCP (total contract price) sold
Cost per Sales (needs a crm integration to track this)
Return on ad spend/roas (needs a crm integration to track this)
Lead - Inquired Via Contact Us Form
Cost per lead
Phone call
Cost per phone call
Lifetime value of a customer (needs a crm integration to track this)
Likes, visits, time on page are all vanity metrics (figures that can give you a good feeling, but don’t directly affect the bottom line of your company).
3. Do they specialize in a particular industry like real estate? Do they specialize in 1 type of advertising medium? Are they jack of all trades where they are doing everything under the sun like SEO, Facebook Ads, Google Ads, Social media advertising, Prints Ads, email marketing.
Generally, most full service agencies are spreading themselves too thin since they don't specialize in anything.
Generally, most full service agencies are spreading themselves too thin since they don't specialize in anything.
Like what Bruce Lee said:
“I fear not the man who has practiced 10,000 kicks once,
but I fear the man who has practiced one kick 10,000 times.”
but I fear the man who has practiced one kick 10,000 times.”
Bruce Lee
4. Ask for references from existing clients/employers.
5. How long does your average client stay?
5. How long does your average client stay?
“You will make better decisions once you begin thinking long-term rather than short-term.”
-- Adam Smith
-- Adam Smith
6. How much do you cost?
How much value can you bring to the table? Always weigh costs vs value. Compare how much they cost vs the KPI’s in question no #2.
How much value can you bring to the table? Always weigh costs vs value. Compare how much they cost vs the KPI’s in question no #2.
As Warren Buffet said: “Price is what you pay. Value is what you get.”
Chris Do Of The Futur talks about the value of your time.7. How will the communication be between the parties involved? Who will be communicating with the project?
"No one can whistle a symphony. It takes a whole orchestra to play it." – H.E. Luccock
8. What values do you uphold? Are you open to feedback?
“I think it's very important to have a feedback loop, where you're constantly thinking about what you've done and how you could be doing it better. I think that's the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.” --Elon Musk
Watch this short video about Elon’s Mask Time Management and Productivity strategiesPRO-TIP:
Bidding and budget strategy should be based on your goals and KPIs stated on question no 2.
Bidding and budget strategy should be based on your goals and KPIs stated on question no 2.