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.