The ultimate goal of a marketing strategy is to garner immediate sales or potential leads. But marketing is not a one step process of advertising and sales. Instead it is a total approach to finding prospects, taking necessary steps to convert them into clients, offering them efficient service, develop a working relationship and further it to generate referrals and repeat business.
Marketing is therefore an on-going process and it includes everything you do in your business to acquire a client and maintain a working relationship with them. Even promptly answering a call, small thank-you notes, playing golf with your client or catching up with a previous client is marketing.
The goal of a real estate marketing agent is therefore to match your services to people who require them, people who will be financially beneficial to you.
Marketing a product or a service are again two different fields. In real estate you are essentially marketing a service which is not tangible. The prospect cannot see, touch and judge, therefore the marketing thrust is to build confidence and reliability. A real estate marketing strategy should basically make a prospect confident enough to bring his business to you. A feel good factor in the prospects mind translates into business and hence sales.
A real estate marketing plan should take all facets of the realty business into consideration. This means marketing to a real estate seller and buyer. The marketing strategy also needs to utilize both online and offline methods of advertising.
The primary aim of a marketing endeavor should be to generate leads, follow them quickly and turn your prospects into clients by meeting them on a one-to-one basis. Throughout the meeting process the aim should be to gain trust and the confidence of the prospect.
The basic strategy of a real estate marketing campaign is client follow-up. From a post-card mailing program to e-mails or a series of well-timed greeting cards after the transaction, client follow-up is an extremely important marketing tool.
Follow up means to keep in touch with a previous client to generate repeat business or referrals. It also essentially provides a human face of the business to the client. Keeping in touch after a deal acknowledges that you care and are genuinely interested in a client’s well being. Satisfied and happy clients generate referrals and the promise of future business. The benefits of a follow-up are not readily tangible but they add to your store of good will and loyalty.
In addition to client follow up create a catchy real estate slogan that defines your essence. Make sure it is different and unique or it gets lost in the avalanche of banner and slogans of other real estate agents.
Create visibility by using the slogan as a car tag, in penny and dime ads and as a punchline to your website.
your own website with your trademark slogan on the top of the page. Write informative articles, start a newsletter, invite questions and maintain a friendly and honest look. Online marketing is a powerful tool to reach countless prospects.
Upgrade your profile when you receive a new designation or accreditation from a professional source. If possible further your education, a learned real estate agent is an asset.
Networking with other real estate agents and maintaining good relations with them. Help them whenever you can, offer them leads. All this helps build a solid foundation for your business.
Finally after closing a deal send a thank-you note to mortgage officers, closing agents, lawyers, loan processors, office assistants and others. They keep you in mind as a conscientious agent.
Marketing is less focus on the realtor and more on the prospect. A marketing campaign should center around the prospect. Talk to them, know their needs and tell them what you can do for them. Focus on your credentials and brag about the deals you have done, be sure then you are the last person they will call.
1) Gain customer confidence- Your entire attitude, conversation, clothes, your accessories should project an image of experience, quality, dependability and clearly convey the advantage and reason for them to do business with you. Cultivate an image apart from the herd. Upgrade your communication skills and project a look that is sincere and enthusiastic, one, which feels for the client.
2) Penetrate awareness of your potential customers by following an integrated marketing plan. The more your visibility, better for you. Maintain the boundaries between brash in your face marketing campaign and a strong but effective campaign. Talk less about yourself and focus instead on the prospect.
3) Purchasing or selling is an emotional decision. Identify with your prospect’s needs and issues. Instill in your prospect a good feeling of your campaign and its ability to improve their lives.
4) Dispel distrust-Overcome initial hesitation on part of the client by offering written guarantees, testimonials, and references. Become a member of a reputed professional organization like the Chamber of Commerce.
5) Impose a deadline- vacillating clients eat up your time so do not encourage procrastination. Without appearing to be pushy motivate the client to take action by pointedly outlining market trends like price increase and limited supplies.
6) Introduce innovative measures in your service that are unique like offering an interior decorating service free for a month, maid service, help in moving in or simply a month’s free subscription to the local newspaper. People pick on extras and often tell their friends about it. The more innovative your service the more it gets talked about.
However good the marketing strategy one cannot work the entire market so it is best to identify niche real estate and market it.
1) FSBO’S: enlist as an advisor and more than likely the business comes to you.
2) Resort and vacation homes; if the area where you do business has many people coming for a vacation, market holiday homes and resorts.
3) Increasing number of minority groups plumb for a home. Target and appeal to a particular minority group. Once you get their business, referrals ensure a steady source of business.
4) Many singles are buying homes. Cater to them and once again you have a steady source of referral business.
5) Luxury homes are a class by themselves, you would need to upgrade your service but then returns are higher.
6) Condominiums offer a particular lifestyle, marketing them yields high returns.
Marketing real estate should be tailored to one’s own needs. Formulate a strategy based on what you want and where you would like to be in the future. It is important that the marketing campaign must be cost-effective and result producing.