Effective Real Estate Marketing Strategies

Congratulations! It’s official. You’re finally a licensed real estate agent. So, what do you do now?

Newly licensed real estate agents all over the country face the same dilemma; life after real estate agent licensing exams.

Truth is there are more real estate agents than you can shake a stick at, but only a few fully embrace the opportunity to distinguish themselves from the others.

Simply being licensed is no longer enough and there are no guaranteed shortcuts to success. Still, there are scores of companies guaranteeing success if you buy their products.

Well, save your money because there are no guarantees; only hard, focused work coupled with products that’ll enhance your success, which begins and ends with 2 simple things;

1. getting prospects, and

2. converting them to paying customers

Getting Prospects

Getting prospects is easier said than done and only when you have some you will you have an opportunity to blend your knowledge, charm and personality to close them.

But the key remains getting them. How do you do that?

Having a real estate listing system is one good way and should be every newly licensed real estate agent’s top priority; veteran agents, too if they never had one.

Although you can find real estate listing systems a dime a dozen there is nothing that helps you achieve the level of real estate marketing and sales “success” you want quite like a proven one, whether they’re complicated ones at outrageous prices, or simple ones at reasonable cost.

Generally, the more complicated and cumbersome the systems are the more expensive they are. They aren’t necessarily better because, just costlier.

The type of system you chose can be as simple as mailing pre- written real estate marketing letters to owners of expired listings, some of which are extremely effective.

Prices range from under $9 – 10 to over $4,000.00; several can be found for less than $50.00.

But as you grow in experience and ability incorporating call in 800 number lead generating systems and websites are almost a must if you want be competitive and ensure your success.

Let’s face it – real estate agents need listings and the more they have the more money they’re likely to make through their real estate marketing efforts. On the other hand agents who can’t get listings don’t last in the profession too long.

Real estate listing systems help agents get listings. They can help new agents get off to good starts and recharge the careers of veteran agents who have been around for awhile.

Also, with a good system, expired listings, fsbo’s and whatever it might be, newly licensed real estate agents can gain significant marketing exposure in months, rather than years.

Signs with your name on them dotted throughout your community will give you instant credibility and generate more listings. Everybody likes doing business with successful real estate agents, which you’ll be thought of as when you have lots of listings.

Another nice thing about farming expired listings is that the sellers are typically Realtor friendly, eager to sell their properties and willing do what it takes to get them sold.

So, if you don’ have one, get one. And don’t worry if you can’t afford the most expensive one. Just get the one the seems best suited to you that you can afford now. You can always upgrade and add to it as time goes by.

The 7 Secrets Of Real Estate Marketing Success

It looks like every real estate professional on the planet is looking for fresh marketing ideas! At any one time we have a number of ideas and concepts in play to make sure our clients keep the edge in their local area. So I made some notes and want to share some thoughts and ideas with you that you can begin using today to attract more business.

I’m continually astounded at the lack of quality marketing produced by our industry to promote real estate services.

The amount of money wasted each year must be in the hundreds of millions. I notice Radio, Television, Billboard, Newspaper and Internet ads that cost a fortune but generate little or no response and this is before we consider the dismal quality of most letter drops and marketing cards.

Advertising experts all agree that the power of re-stating a message is a whole lot more effective than introducing a new message at every opportunity.

Notice how a new ad on TV gets played and replayed until the advertiser is sure we get the message? It’s not ten different ads in ten different spots. Corporations spend millions testing their marketing messages to make sure they work. Why don’t we just save our money and copy the giants by using a consistent response driven message?

Here are the 7 Mistakes of Real Estate Marketing

  1. They confuse the target market (I don’t know what they stand for. They just want me to list with them)
  2. They fail (dismally) to create any connection between each message. Each ad carries a different message and the time lapse between messages is too great.
  3. They are mostly without any design element or layout and look dreadful. Too much copy no image.
  4. They have no definable point-of-difference or Unique Selling Proposition that sets them apart from other real estate agents.
  5. They are too ‘busy’ and have obviously never heard of the power of white space and cram not one but two sides of the flyer. White space is our friend not our enemy.
  6. The communication is all about the agent not the target (fatal) Remember our favourite radio station; WIIFM?
  7. They have no call-to-action. They give me no reason to want to call them so they can ‘capture’ my details and begin a relationship.

Let’s consider what MUST happen to boost the effectiveness of communication and get a serious return on our marketing investment.

Here are The 7 Secrets of Real Estate Marketing Success

(They must be secrets because so few people actually do them!)

1. Establish a dynamic point of difference. This is what you stand for and what you believe in. If you were a country it would be your national anthem.

2. Repeat your message consistently at every opportunity. (Don’t chop and change) From your office, in your emails, your on-hold message, at your opens, on your webpage. It needs to be compelling and interesting. Create a can’t-say-no offer!

3. Develop your personal marketing plan for 12 months (Printing and all advertising is cheaper if you do it bulk)

4. Use a call to action at every opportunity so you can…

5. Take names. A contact base is currency in real estate. Used correctly, every name on you database is worth hundreds of dollars. This will allow you to…

6. Initiate ‘value contact’ with your database so when they think of real estate, they will think of you. This is top-of-mind marketing. We need to give them enough reasons to call us when they’re thinking of selling or know whom to recommend when someone asks. (Referral business is the best business)

7. Develop your professional contacts as well and include them in your marketing. (Your local mortgage broker or finance professional probably has hundreds of clients who would benefit from your expertise. Why don’t you look at doing a joint venture promotion?)

These 7 ‘Secrets’ actually define relationship marketing. People do business with people they know and like. We need to build a relationship with potential clients before we can expect them to call us.

One final word of warning; Putting your logo on everything is not going to help. In fact, I’m convinced it will work against you. It’s not about you. It’s about them! There will be plenty of opportunity to ‘logo up’ with For Sale signs and local paper ads once you have a heap of fresh listings as a result of your dynamic lead generating campaigns.

Advertisers love to tell us how we need to constantly promote our brand. They call it ‘brand awareness’ and commit us to expensive advertising by convincing us that it’s the only way to go. (Sound familiar?) Relationship marketing is a whole lot more effective and a fraction of the price which allows individual real estate salespeople as well as real estate companies to build personal marketing profiles with a very affordable investment.

As you read these words, there is someone in your target market ready to list their property for sale. Have you given them enough reasons to call you?

Ray Wood is a leading Real Estate Marketing expert and has written six books on effective real estate marketing including his bestselling Lead Generator for the real estate industry, How To Sell Your Home For More. In high demand as a speaker and marketing consultant to the real estate industry, Ray is based in Toronto Canada and Queensland Australia.

Smart Real Estate Marketing

Ladies and gentlemen, looking at local and national news coverage we all know the real estate market is about to bounce back. This time in the real estate business is a crucial time for the real estate professional. When potential home buyers have the money in hand and they’re ready to finally buy a home you will need to use smart marketing in order to capture the potential buyer and hold onto them through the close of escrow.

What is Smart Marketing?

Have you ever walked into a retail business and seen a special price offer? The offer simply states if you buy three, the price of each individual item is reduced. However, if you only buy one the price goes back up to the normal retail. This same idea can be used in the real estate world.

The Real Estate Value Package

The real estate value package will work for the real estate professional who was aiming to sell a home for a client or buy a home with a client.

In the home selling process, the value package can include your percentage of the sale with a free open house. Instead of approaching at your customers as this being a discount, approach them with a value package.

In the home buying process, you can include anything from a weekend of showings, or a night out on the town complete with home showings and a free dinner. Again approach the customer or potential home buyer with this offering as a value package and not as a discount.

Why are Discounts Bad in Real Estate?

When the real estate professional begins to offer their consumers a discount the consumers may think, ” If my real estate professional is willing to do this job for less, why will it ever have to pay them more?” When the real estate professional begins to offer their consumers a value package the consumers may think, “I am getting something for nothing!”

The real estate market is one of the most resilient markets in the business community. No matter how the money changes, the DOW moves, or how many people say global economic crisis on television, people will still buy homes and people will still sell homes. The key to maximizing your profits in a real estate market climbing out of a whole is to offer your consumers a value for their money.

4 Simple Steps For Effective Real Estate Marketing Online

Any type of real estate marketing is expensive, when it doesn’t produce results. Many of the frustrations for real estate professionals revolve around how leads from their marketing efforts are poor and that they aren’t closing any sales from any of their lead generation activities. Unfortunately this usually results in ditching marketing all together and hoping a new customer will “appear”.

Instead of just hope, you might consider starting with an online marketing strategy that will generate low cost leads. When you start your online real estate marketing efforts there are a myriad of choices available to you.   Just a fraction of choices would include paid advertising on Google, Yahoo, MSN, Facebook, etc. In the field of paid online advertising each system works differently and allows quite a bit of flexibility for the advertiser. With this flexibility though comes the opportunity to waste your money quite easily and be stuck in that same viscous cycle.

Consider the following methods when starting your online advertising:

  1. Set a Budget – Too often real estate professionals jump into their online marketing efforts with no idea of how much they want to spend. Getting started online means understanding there will be a time needed to uncover how it all works and setting a budget that will allow you to succeed. A good rule of thumb to start with is don’t spend any more than 7% of what your average commission would be on your advertising. When you consider that if you spent just 7% to get a 1 transaction you would be in good shape, especially when you could repeat that month after month!
  2. Set a Goal – Sounds crazy, but I invite you to consider that your online real estate marketing efforts can have results from your very first month. Holding your money accountable and setting a goal for a specific number of transactions that you would like to achieve will help you to keep your money accountable and provide you with some focus at the same time.
  3. Focus on Leads – Creating ads online (and even your SEO efforts) should all be focused on generating leads. When you have people requesting information from you, either via phone or e-mail, each day it gives you the opportunity to convert those leads into fresh appointments. Don’t think that you need to “brand” yourself or “get the word out”, rather consider focusing on providing value to your online visitors and compel them to contact you for help.
  4. Be Specific – Too often real estate professionals (and many business owners for that matter) take very little time in their ad creation and where they will direct their ads. Take time to consider what people are searching on and direct them to pages within your website that will quickly give them the information they are looking for. This will keep your costs low and keep the leads flowing.

Real estate is an extremely competitive field and is getting even more competitive online. Keeping your costs low for your online marketing efforts will keep leads coming in, new appointments each week, and a steady flow of closings going each and every month.

Jamey Bridges is one of the coaches and founders of the Online Real Estate Success program. The Online Real Estate Success systems allow real estate professionals to discover the techniques they need to succeed with their online marketing efforts.

Training programs are designed to help agents understand what is needed, apply the methods, and see results each and every month. He and his twin brother even developed a free ebook so real estate professionals can get started in the world of online marketing quickly.

Real Estate Marketing Strategies For Private Investors

Development and implementation of real estate marketing strategies is an important part of buying and selling houses. Without some sort of marketing plan it is virtually impossible to locate realty for sale or buyers ready to purchase. Whether trying to buy or sell residential homes, commercial properties or raw land, marketing is the key to success.

The first stage of real estate marketing involves developing an overall plan. Marketing plans help investors establish their target market and identify buying habits of potential clients. Individuals interested in residential properties will have entirely different needs than those buying commercial real estate.Retired couples will have different housing needs than newly married couples or families with children. In order to sell properties investors must gather as much information as possible about their clients and the market.

One of the most common mistakes investors make is to gear marketing materials around their own successes. The first rule of thumb for any marketing campaign is to remove the marketer from the equation.

Although it is true that clients might be impressed that an investor possesses 20 years experience or closed mega-million real estate deals, they really want to know how investors can solve their problems or help them buy or sell property. Therefore, realty marketing materials should address how investors solve problems and overcome challenges.

The best way to start is to compose a list of common problems buyers often face. After identifying these challenges, create a list of how your investment company can solve each problem.

These might include addressing financing options for buyers with bad credit and those who have filed bankruptcy or lost their home to foreclosure. Realty marketing materials can help investors establish trust and build relationships by demonstrating how they can solve problems.

Another important aspect of marketing plans is to develop follow-up strategies. People rarely make important financial decisions simply by reading a marketing brochure or sales letter. In most cases, it takes an average of five to seven contacts with a person before real estate deals transpire.

Realty marketing plans should encompass the various tools investors can use to attract buyers. These might include developing a website; sending out letters, sales flyers, or postcards; follow-up marketing strategies; and advertising strategies such as billboards, signage, park benches, Internet marketing, or Classifieds ads in local newspapers or realty magazines.

Real estate marketing is an on-going process, so investors should plan to review their marketing efforts on a quarterly basis and make necessary adjustments. Technology is constantly evolving, so investors must make an effort to stay abreast of market trends.

Investors should consider hiring freelancers to help with marketing materials. These can include copywriters, graphic artists and webmasters. While hiring others initially costs money, having professionals design real estate marketing materials can save money in the long run.

The Internet is a great resource for locating freelancers and obtaining marketing advice. Consider joining investor forums, social networks, and real estate clubs to network with other professionals. By taking time to network, investors can find the resources and buyers necessary to develop a successful business.