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.