Marketing

Marketing is the most misunderstood aspect, even among Realtors. To effectively market Real Estate, a Realtor needs to know their Source of Buyers. Advertising and Marketing are NOT THE SAME! There are 2 types of marketing: Passive Marketing and Active Marketing

Passive Marketing consists of waiting for buyers to contact you. Examples of passive marketing include Print and Classified Advertising and For Sale Signs. The days of placing an ad in the paper, a listing in the Multi-List, a sign in the yard and then waiting for a buyer to call are GONE!!! Too many times Realtors tout their advertising i.e.. "advertised every week until it sells". Although advertising and signs are a part of marketing, they account for less than 25% of buyers. Realtors love to emphasize their advertising because it allows them to passively sit at their desks and wait for the phone to ring. 

The key to advertising is to create ads that produce results. Buying a home is based on emotion, not facts and figures. As a result, ads need to promote the benefits of the home, not just the features. Look at the following ads. Which do you think will generate more activity?

Online marketing is another key ingredient of a successful marketing strategy. The fact that you are viewing this website is an indication of this. Online marketing also must be multi-facetted. Showing a single photo of a property is not sufficient. Multiple photos, VIRTUAL TOURS and INFORMATION must be made available to the consumer in order to truly market your property.

Active Marketing is exactly as it sounds, ACTIVELY SEEKING BUYERS! One of the most effective ways of active marketing is to aggressively seek direct and indirect referrals. This is accomplished by talking to friends, relatives, neighbors etc and asking "Who do you know who might be considering buying a home?" Other avenues include "Call Back" and "Fax Back" services, 1-800 Hotlines, Direct Mail/Direct Phone Campaigns and Internet Marketing Campaigns. Each of these involve actively contacting prospective buyers, not just waiting for them to contact you. Another often overlooked area of marketing is Realtor to Realtor marketing. This involves notifying Realtors directly, not waiting for them to see the Multi-List listing.

For tips on "Packaging" your home for sale click here.

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