Real Estate marketing. Just like any other marketing?
Of course, you know as well as us that the real estate market permanently goes through ups and downs and is dependent on factors such as interest rates, economic conditions, whether job growth, etc.
Regardless of how the market behaves currently, you can apply many strategies that can boost your business and projects.
So here are tips & tricks to check out.
Identify the target market.
This is the number one strategy that can be used to become truly successful in the real estate business.
Many focus on a niche market and become an expert in that market. This gives an idea about what’s driving the target market currently, what risks are involved, and where the market is headed in the short and long term.
For example, knowing the details about a new transportation or school project coming locally could change the marketing strategies accordingly.
Some resources to help you identify your target market with the basic what, how, when and who questions :
Make budget for marketing expenses.
Another major factor is to develop and invest in a marketing budget and stick to it.
There are literally hundreds of avenues to spend your marketing dollars on, such as real estate websites, email marketing, social media marketing, and postal marketing, and lots more.
“You must establish your presence on the internet with the help of a professional website, as well as dedicated accounts on social media sites such as Facebook, Twitter and LinkedIn.”
Your spend must be based on your target audience and the determined strategy. For example, customers in one area might require internet-based marketing, whereas customers in another one might require a different approach.
Additional resources to consult for marketing-related activities :
• Estimating Realistic Startup Costs
• Banners, Signs, and More: Our Top Picks for Offline Marketing Materials
• How to Do Your Own PR If You Can’t Afford to Hire an Agency
• How to Handle and Avoid Negative Publicity
• 20 Marketing Tools Every Small Business Owner Should Try
Create a website and use social media.
Today, most things happen online. You must establish your presence on the internet with the help of a professional website, as well as dedicated accounts on social media sites such as Facebook, Twitter and LinkedIn. These are relatively inexpensive, with the potential for huge outreach.
You can also market your business on Google by paying for ad campaigns. There are experts that can help you to get the highest ROI : us.
Additional resources to consult for social and internet activities :
Encourage referrals and word-of-mouth.
Using referrals from previous customers is absolutely valuable for acquiring new buyers.
New customers feel more comfortable when referred by a friend, colleague, or relative.
The world is moving at a much faster pace than ever before. It is very important to respond to customer queries or else you will risk losing new business.
You must have access to email via a smartphone at all times and ensure that you respond to a customer request as soon as possible. You cannot wait to respond until the next day in this business. If you are prompt in responding, it adds to your credibility and reputation.
Publish a newsletter.
If you are serious about your long-term success, then you should publish a weekly or monthly newsletter with updates on current mortgage rates, changes in real estate laws, benefits of homeownership, how to develop a real estate investment portfolio, health checks on the local market trends, and so on. Create content and share your expertise.
All current and prospective customers would appreciate the insights from such a newsletter, as it shows your knowledge and commitment to the business.
Plan for success.
Regardless of whether you are a real estate agent or a real estate developer, you will need a real estate development business plan. This will set you up for success. You can plan your expenses, contingencies, and other risks with the help of a real estate development business plan.
Many people fail when they work in a vacuum without such planning. For example, you can plan your budget for next year’s real estate marketing strategies with the help of a well-documented business plan.
Additional resources to help you write a business plan :
Develop brand awareness.
Just like big brand businesses, your own business must also strive to develop a brand of its own. Any real estate sales strategy must keep this concept in mind. How? The answer lies in planning to develop a name brand and using it to market the business for years to come.
Additional resources to help you with branding your business :
• The Complete Guide to Branding Your Small Business
• Discover Your Brand in 12 Easy Steps
• How to Build a Brand in 5 Days
• Branding Checklist: 10 Essentials Before You Launch
• Tools to Help You Name Your Business
Developing a successful real estate business takes effort and time. So it might be a smart idea to outsource it and get the right people support you, no?
Hey, we know of a team of specialists that will guide you through this process and execute it flawlessly;-)