What is Real Estate Marketing?
Real Estate Marketing involves strategies, creative ideas and networking opportunities giving a competitive advantage to agents, buyers and sellers seeking leads for future sales.
How Real Estate Marketing Works
It is personal
Deciding to buy or sell a home is a major life decision. Hiring a real estate agent, going through the buying process or selling a home full of memories can be difficult, if not downright stressful. An effective real estate marketing campaign taps into emotionalism and emphasizes professionalism and a personal touch. With these considerations, the campaign should be strategic in motivating recipients to take action. A successful real estate marketing campaign results in recipients who respond to the brand's experienced real estate agents possessing extensive market knowledge, vast contacts and an awareness of prospective properties.
It supports a variety of strategies
There are various strategies for real estate marketing. Real estate marketing successfully uses direct mail for generating more leads during the holiday season. Even in this digital age, people eagerly go to the mailbox looking for holiday cards. Acknowledging birthdays displays that personal touch that can lead to customer appreciation and future business. Print advertising includes handing out business cards, flyers, posting yard signs in front lawns and using social media. The right social media campaign can convert clicks into sales.
It uses MLS for maximum exposure
Real estate marketing depends on MLS (Multiple Listing Service) to provide the data on property bought, sold or leased in a given market. MLS is critical because buyers, sellers and agents need information to compare the values of comparable property (or comps). MLS data is generally accurate, current and provides maximum exposure for a reasonable cost. Without using MLS, there tend to be fewer offers for sellers. Buyers may miss out on great deals. And, of course, fewer commissions for agents.
Why Real Estate Marketing Matters
It fine-tunes your messaging
Real estate marketing helps buyers, sellers and agents devise more effective messaging. You get to know more about your target audience. Which emotional buttons did your campaign push to get a response? Are your respondents empty-nesters needing to downsize? Are they upwardly mobile professionals seeking luxury property? Did you just hear from prospective first-time home buyers? You can discover how, when and why prospective clients respond to a direct mail piece, a print ad or even a business card. Also, by following up on a message, the brand delivers great customer service and demonstrates that all important personal touch.
It relies on networking
Real estate's life blood is building relationships. Networking, then, is the cornerstone in real estate marketing. The wider the network, the more productive the leads. Proactive real estate agents understand that communities form the core of their business. By joining neighborhood organizations or having a booth or table at a community event, the brand highlights its services in a positive way. In the best case, this kind of interaction drives traffic to its website or creates favorable visibility in other kinds of professional associations.
Its success is contingent upon timing
Timing is important in real estate marketing because of the personal aspects of pushing the right emotional buttons to get the right response. Horror stories abound where real estate agents or agencies have invested thousands of dollars in direct marketing or other real estate campaigns only to yield less than desirable results. Why? Timing. Creating a direct mail campaign with a year-round postcard may not generate the active response that a campaign at say, Christmas, will get. Personalized follow-up, birthday acknowledgements, and social media blogs must have the right timing built in to get the best results.