Questions On Considering Your Marketing Budget Essay examples

1562 Words Nov 7th, 2016 7 Pages
Chapter 4. Considering your marketing budget

How to calculate the marketing budget required to sell a property to a foreign buyer? Often real estate sellers do not know how much they want or can or should spend on marketing their properties to foreign buyers. Here we will not talk about sellers and agents who try to sell a mansion through a free ad in the Penny Saver newspaper... This is for people who are serious about selling their real estate properties to international buyers. Let’s look at some relevant data that the author has retrieved from the internet searches. The U.S. Small Business Administration puts marketing budget numbers from 2% to 10% of sales. Some other reliable sources say that marketing budgets of small to medium companies are usually from 1% to 12% of sales which is in full compliance with the SBA recommendation. All sources mention that if you are just entering the market, your marketing budget may be higher than at the next stage when you have already established your presence in the market and often work by referrals. The marketing budget may depend on the industry, that is why we should go deeper and look at real estate sales in particular (most numbers here are from the U.S. based sources, but can be used as an estimate for other countries too). For realtors: a good rule of thumb is that marketing budgets should equal about 10% of their commission income, as a realtor’s magazine states. For developers: the…

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