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Rainer
20,029
Lee Henderson
Henderson Real Estate Group - Pleasanton, CA

I'd never spend it in one chunk but spread it out over 6 to 12 months. I'd choose a desireable neighborhood with high turnover and go to PropectsPlus and order their Market Dominator program. That's approximately $500 per month depending on the size of the area. Then I'd set up a Facebook ad targeting the same area with a $1 a day budget. For maximmum effect I'd spend 2-3 hours a week knocking on doors in the neighborhood. In 6-12 months you will be the dominant agent there. As soon as its generating profit I'd pick a nearby target and repeat.

Feb 06, 2015 12:51 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Wow! I LIKE that question Richard.

I would prioritize by assessing where the void exists.

Unless a future of peddling CMAs is attractive, I would suggest creating some delineating collateral. So, when asked, "What do you have?" you can say, "I've written a book, been recognized by the industry and have created effective proprietary methods."

Now that you spent a dollar to create real stuff, spend more on real inbound marketing strategies that exploit your stuff to those who are predisposed to doing business with you. I mean REAL inbound market stratgies, which is not what most vendors are selling bearing that label.

Then to trigger the perfect storm, create the right copy for your Facebook ads. 

Use the remaining $3,000 to treat your Mom to something very special.

Unfortunately, too many real estate professionals are mentally exhausted, depleted. The creative left side is burnt to a cinder and it actually hurts to think.

The sugar words of  Zillow, the quest for FaceBook dominance, the need to be #1 on google displaces common sense with easy/convienent/expensive/ineffective.

The smoke left behind form the letters of, "I wish I had my $5,000 back."

But, keep your $5,000 in your pocket if past behavior indicates an unwillingness to fully implement a strategy. We all have great ideas but stop 5 yards short of the goal line because we do not believe it is the last 5% of effort that yields the outcome wanted.

Feb 05, 2015 09:59 PM
Rainmaker
1,432,649
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Pay some one to fine tune my web sites.  Get some more sites up with good IDX and some targeted Facebook Marketing.  Perhaps some direct mail. 

Feb 06, 2015 03:11 AM
Rainmaker
1,771,867
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

A good web site, personal assistant and membership to Active Rain.

Feb 06, 2015 12:24 PM
Rainmaker
153,167
Nancy Hankin
RE/MAX Real Estate Consultants - Palm Springs, CA

I would hire a Social Media Expert and Golf Coach. Then fly to Wisconsin in June to visit my three grandchildren for a week.

Feb 06, 2015 01:58 AM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

A few postcard mailings may help.

Oct 05, 2019 11:05 PM
Rainer
279,878
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

A party for my past clients and sphere.

Jun 16, 2018 10:27 PM
Rainmaker
630,251
Ajay Pandya
e-Merge Real Estate Unlimited - Columbus, OH
Realtor Ajay Pandya

Spend about $400/month on marketing in the specific farm.

Feb 03, 2018 09:29 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Buy some video equipment and a better drone.

Dec 10, 2017 05:36 AM
Rainmaker
273,820
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

The lady that said hire a social media expert and a golf coach, really nailed it as far as I'm concerned!

Apr 04, 2015 02:23 AM
Rainmaker
1,141,082
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

I stand with Lee Henderson on this one Richard... Good question, interesting comments...

Feb 11, 2015 06:03 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I just discovered a book by Carla Cross Up and Running in 30 days. I wish someone give it to me when I got my license.....

Feb 10, 2015 04:32 PM
Rainmaker
1,139,819
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

I think I would spend in on SEO for a website.  I hope it would bring something back.  But that is only for the long term.  Not for instant results

Feb 07, 2015 07:11 AM
Rainer
22,600
David Bacon
Realty One Group - Glendale, AZ

spread it out over the months to use for farming an area with a high turnover!

Feb 07, 2015 05:45 AM
Rainmaker
856,072
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

With no hesitation I would go to Katerina in AR and have her set up a couple web sites and sit in with her on some one on one SEO detailed education. 

Feb 06, 2015 02:02 PM
Rainmaker
183,227
Karen Steed
Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA
Associate Broker Haralson Realty

Love the question.  It sounds like so much money, but as I have gone over my numbers from last year, it seems that I have spent more for not  much in return.  I think I need to rethink my spending for 2015.

Feb 06, 2015 09:43 AM
Ambassador
1,076,551
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Most of my business is referrals through networking, so I'd spend that cash for some plane tickets and rental cars to do a tour & catch up w/my people on both coasts!

Feb 06, 2015 06:36 AM
Rainer
51,536
Marilyn O'Donoghue
Long & Foster Avalon - Avalon, NJ

I would hire a social media assistant.  I am fairly up to date and don't fear it, but it changes all the time and I don't want to miss out.

Feb 06, 2015 06:12 AM
Rainer
140,560
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

All very good advice. I agree do with Lee Henderson most however. I would only add some lead generation through ZIllow or Trulia to his strategy. Facebook is my next weapon for local market domination.

Feb 06, 2015 05:55 AM
Rainer
215,585
Marla Yost
The Yost Team- Keller Williams Realty - Arlington, TX
The Yost Team

Great question and Lee`s answer was the best by far. We do close to what he suggested and has been Great.

Best of luck!

Feb 06, 2015 02:39 AM
Rainer
45,628
Linda Schneider
Fast Newsletters - San Diego, CA
Fast Newsletters for Real Estate Agents
I'd buy comfortable but nice clothes and shoes, pre-pay my rent for four months (if my rent were low enough), purchase a good inexpensive newsletter program, then start knocking on doors three hours per day. The rest of the time, I'd follow up with leads (there will be a lot of them with that much door knocking) and meet with people who might have referrals for me. I'd expect to work a full 8 hours, with lunches and breaks being outside that time. I also like Annette's idea of investing in a book or set of reports, which you can hire someone to ghost write for you. After securing my first deals, I'd invest in high quality inbound marketing.
Feb 06, 2015 02:14 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

A vacation in the Bahamas to re-energize and come back ready to roll. 

Feb 05, 2015 09:40 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I think that depends on where the $5,000 would be spent. If it looked like something with a good payback in a relatively short period of time--absolutely.

Feb 05, 2015 08:36 PM