Challenge: Standing out in a struggling real estate market
Leslie Wilder, an account executive for MacDonald Broadcasting, had only been on the job at his new company for a couple months and knew that assisting a local realtor could be challenging during the current state of his local real estate market. However, having AdMall available to assist him was going to make all the difference.
“This was my first prospect since coming on board [to MacDonald Broadcasting],” said Wilder. “The challenge, for the advertiser, was a top-of-mind campaign and the real estate market is coming off the bubble of ‘over-asking’ price and cash sales within a day or two. [The owner] knew that the local market was beginning to crash and did not have much of an inventory.”
Solution: Turn to AdMall’s account intelligence reports
“I was able to use the AdMall intelligence reports to find that experts in the real estate market were anticipating a major crash of housing within a six-month period,” said Wilder. “The report coincided with her [the owner's] projection of the local market, and she wanted to get ahead of competitors before the race to secure inventory. She also wanted to highlight her agents’ professional backgrounds, and training, to help in any type of real estate transaction. With these issues at hand and the intelligence reports from AdMall, I was able to put together a campaign to reach a top of mind using strictly radio advertising with no digital addition. Their web inquiries have been up as well.”
Result: A big win for the AE
Being the new sales rep on the job always brings an added sense of pressure and urgency, but thanks to AdMall, Wilder was able to close his first prospect, while at the same time, helping a local broker stand out and secure more listings as the real estate market locked up during the recent rapid interest rate rise.
“I was able to secure nine agents to co-op on the campaign, and we signed an annual contract with them for $29,000 as my first sale at the radio station,” said Wilder.
“The contract is now growing because there are five other agents that have seen the positive feedback and success of the campaign. This will give another $15,000 to the campaign over a six-month period. The realtor’s inquiries for listings, and for showings, have increased roughly 10% to date, with it in its second quarter.”
AdMall’s Local Account Intelligence Report is available for over 400+ business types and provides a myriad of research from the local, state and national level. It is the baseline report a rep should run before their first sales call that will put them on a level playing field with a potential client.
More About: Real Estate Agents/Agencies
Real estate agents broker the deal between buyers and sellers during ownership transfer of land, housing or commercial properties. Agents receive a percentage of the value of the deal as their fee. Agents may work solely on behalf of the buyer or the seller.
Real estate agents face increased competition from discount vendors including those who operate solely via the internet. Traditional agents must become savvy about the internet to maintain their market share and convince consumers that they offer a valuable service.
The industry is closely linked to the general health of the housing market. The Bureau of Labor Statistics predicts an industry outlook that is about equal to the general economy. There are approximately 977,014 businesses in this industry and revenue is approximately $222 billion.
Note that existing-home sales totaled 6.1 million in 2021. That number may be slightly lower in 2022.