Barbara Todaro, Previously Affiliated with The Todaro Team (RE/MAX Executive Realty - Retired )

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Rainmaker
4,055,271
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

If I believed there was a real ROI by going over budget, I certainly would.

Apr 14, 2018 01:41 PM
Rainmaker
3,321,246
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I exceed when needed. There are times when listings slow down and you need to pick it up. There is times things are red hot and sell so fast you need more to sell. I like to review monthly and adjust as needed. What works, what isnt and change accordingly

Apr 14, 2018 01:36 PM
Rainmaker
4,059,870
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Budgets are guidelines for me. Life happens.

Apr 14, 2018 02:56 PM
Ambassador
3,037,137
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Absolutely will exceed the marketing budget to increase business.  In fact, I am doing that now.  Will it work? We shall see. 

Apr 14, 2018 03:38 PM
Rainmaker
2,634,187
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If I get a high end product I will spend more

Apr 14, 2018 02:15 PM
Rainmaker
1,716,204
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

You might have to fudge a bit depending on the circumstances. Maybe sell a few more in an area & do an extra mailing, etc.

Apr 14, 2018 01:40 PM
Rainmaker
709,834
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes... often there are marketing opportunities beyond the planned budget. In fact, I would say it's a common and frequent occurrence. Got to keep flexible.

Apr 14, 2018 04:59 PM
Ambassador
2,564,011
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Is there a good chance of seeing a return?   Then go over.   If it's a crap shoot, pass on it.

Apr 14, 2018 04:40 PM
Rainmaker
1,874,100
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I don't budget in the sense of I have a certain amount set aside for advertising/marketing Barbara Todaro but I don't let it deplete my reserves either. If I think something is a pretty sure bet I go for it if the only way it effects my work load is to write up offers.

Apr 14, 2018 04:39 PM
Rainmaker
1,212,346
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

We establish a budget but adjust as needed due to market fluctuations or to take advantage of additional opportunities. 

Apr 14, 2018 04:37 PM
Rainmaker
1,213,734
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I stick with my budget, given it's pretty mathematically predictable based on projected growth using last year as a baseline. It prevents "shiny object syndrome bankruptcy".

Apr 14, 2018 04:06 PM
Ambassador
4,201,209
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I actually now budget for overage in marketing! Yes, I budget my 'normal' and then add some cushion because for years, I found myself going over each and every year!

Now, when I hit the limit, which is rare, I'm done until January 1!

Apr 14, 2018 03:37 PM
Rainmaker
1,104,714
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

2007,2008 & 2009 took my comfort level far beyond the normal parameters. It's like they say: "When business is good you should advertise. When times are bad you must advertise"

Apr 14, 2018 03:01 PM
Rainmaker
4,158,260
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I have been pretty good over the years staying within budget. Have exceeded budget a couple of years when I could justify the return.

Apr 14, 2018 02:38 PM
Rainmaker
513,724
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

If what I was doing was working, and more would work better, yes.  If it's just another cold call, latest widget, got to have system, no. 

Apr 14, 2018 02:29 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Budget varies. 

Apr 14, 2018 02:14 PM
Rainmaker
6,543,982
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have never been good with marketing budgets.

Apr 14, 2018 02:11 PM
Rainmaker
887,783
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yes unless no and no unless yes.
Unless yes or no.
Sometimes it costs more to get the results that you want.
You can only project a budget for each project.
Hopefully you come in under.
LOL, it's a lot like life!

Apr 14, 2018 05:57 PM
Rainmaker
696,192
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I stay within my budget. I am happy with the business I have and I don't believe it will increase my business. I am in the RBC bank, hockey arena and news papers. I use to do postcard/flyers every couple of weeks I have cut those out and my business has not changed. I find most of my business comes from referrals.

Apr 14, 2018 03:05 PM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I set a budget that does not go down but usually goes up as needed!

Apr 14, 2018 03:01 PM
Rainmaker
1,380,473
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Depends on the opportunity presenting itself.

Apr 15, 2018 09:15 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Our marketing department has a budget of about $75K a month...

Apr 15, 2018 05:37 AM
Rainmaker
1,514,305
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, if I believe it is necessary.

Apr 14, 2018 08:26 PM
Ambassador
5,358,471
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I spend very little on mktg, mostly my time on the net, which I often exceed the budget on.

Apr 14, 2018 07:38 PM
Rainmaker
5,526,298
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Barbara,

It depends, and we are always looking for opportunities. A

Apr 14, 2018 06:15 PM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I stick to my budget but if something comes along I am willing to shift categories.

Apr 14, 2018 05:00 PM
Rainer
65,328
Steve Bracero
Heisler and Mattson - Shrewsbury, MA
First Time Homebuyer and Investor Specialist

if something works... increase it! 

Apr 15, 2018 06:47 PM
Rainer
32,026
Christopher Leo
Status 5 Studio, Inc. - Sunnyvale, CA
Leading Agent Real Estate Marketing

I would suggest considering this: Marketing is a marathon, not a sprint. It is going to take time for you to establish yourself in your marketplace. Based on that, it is critically important that before you increase your budget, you take an honest look at what that may do to your overall ability to continue marketing yourself in the future. 

For instance, if you just started a brand new campaign in a neighborhood, I'd suggest that it will take minimum 6-8 months to establish yourself in the minds of homeowners. Based on that, let's say it's now month 2. If you take a hard, honest look at your budget and you can see that without a big result from the extra cash outlay, you are going to be really lean, trying to cover your marketing in months, 5-8, then I'd say don't.

The most important thing in starting any new marketing campaign is making sure you have some sort of measurment/analytical capabilities in place, so you can make educated decisions. When you have a firmm grasp on the outcomes of your marketing efforts, rather than spending more to try something new, you can divert funds from a flailing marketing initiative, to the one you want to beef up. The net change in expense to you will be zero that way :)

 

Apr 15, 2018 02:04 PM
Ambassador
3,456,285
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Like you Barbara Todaro we have an unlimited budget and we sometimes exceed it. 

Apr 15, 2018 10:43 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

In my business model I get sponsors to take care of overage.

Apr 15, 2018 10:13 AM
Rainmaker
3,683,246
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

We have on many occasions exceeded our budget. We do what we need to do to keep our business successful.

Apr 15, 2018 07:25 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I rarely exceed my budget.

Apr 15, 2018 05:29 AM
Rainmaker
2,020,150
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I just sponsored a Next Door.com Zip Code that wasn't in the budget

Apr 15, 2018 03:50 AM
Rainmaker
580,791
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

It's tempting to spend more, but I set a budget and stay within it. I do try different things to see what works, so my commitment is not so lengthy that I can't change courses somewhere within the year.

Apr 14, 2018 11:30 PM
Ambassador
3,725,381
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

It all depends on how my year is going but for the most part I stick to my budget...

Apr 14, 2018 10:51 PM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Barbara Todaro - If some of the marketing works, I do spend more money there!

Apr 14, 2018 10:32 PM
Rainmaker
808,847
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

We have remained within budget for years. We even reduced expenses two years ago and exceeded income. -K

Apr 14, 2018 09:30 PM
Rainmaker
1,149,109
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Mailing is expensive. W/o marketing one always wonder if he missed out something. The die hard agents brings 35,000 cards every 2 weeks.

Apr 14, 2018 09:07 PM
Rainmaker
843,896
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Though I'm in a different industry, my marketing expenses has been gradually increasing, and it has been paying off!

Apr 14, 2018 06:31 PM
Ambassador
3,034,270
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I make adjustments generally every 60 days based on return.  I don't expect a return immediately though, I give everything a 12 month test period before I cancel unless I'm not getting the service I expect.   But I have used things for years before and tracked them going right in the toilet and after a period of decline I will generally re allocate those funds to something different.  I do keep track.

Apr 15, 2018 10:07 PM
Rainmaker
895,177
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If I think that is going to be a benefit for spending more that I planned, I am willing to do it.

Apr 15, 2018 07:27 PM
Rainmaker
1,044,339
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

My budget goes up as my income does I try to stay within a percentage based expenditury Barbara Todaro  how do you do yours?

Apr 19, 2018 05:58 PM
Rainmaker
4,884,514
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

As you have said often --- you have to invest financially in your business.  I send out mailings when needed.

Apr 18, 2018 07:42 AM