Real Estate Marketing Strategies
A Six Step Marketing Process for Realtors
Whether you’re opening a new office, planning to expand, or just looking for a way to improve your current marketing, this systematic approach is a good place to start.
1. Analyze your current situation. What is your current market position? How does that compare to your competitors’ position? What are you doing to set yourself apart?
2. Identify your target market. What characteristics do many of your clients share? For example, what is the income range of the buyer group you usually serve? In what ways, if any, do you want to alter your marketing approach to reach buyers in another price range?
3. Select objectives and strategies. What objectives do you need to meet to fulfill your vision and achieve the market position you want?
4. Determine position strategies. How can you differentiate yourself from your competition in the perception of prospects?
5. Decide how to use the Marketing Mix to gain a USP (Unique Selling Proposition). Which of the 4Ps will you use to achieve your objectives?
The 4Ps are:
- Product (or Service). Professional photography, a video open house, setting up staging, or a unique property brochure are all great offerings.
- Place. Do you live in the neighborhood you’re targeting? Have you been a lifelong resident of the area?
- Promotion. How does your marketing set you apart from competitors? Does your website get 5,000 hits a month? Do you send just listed flyers to residents in the area. Do you have an active Social Media or strong neighbourhood presence? A strong marketing program is key in good promotion.
6. Establish mechanisms for tracking results or the market. How are individual promotions working? Is the overall marketing strategy enabling you to reach your goals?
All Realtors come to us looking for more leads. Never an overnight process, active lead generation requires consistency and a strategy. I recommend my clients to make a Business Plan for the year. This includes Sales Goals, Marketing Strategy, Marketing Budget, Brand Identity and Client Retention.
1. Sales Goals
Having a target number of closes is a great way to stay motivated. Make a reminder in your office to remind you daily and keep you on track.
2. Marketing Strategy
Is your website modern and well structured? Don’t underestimate the power of Google. Although most of your clients come through relationship building, the internet is an unlimited tool for lead generation. Having optimized listings that are on Page 1 will bring more buyers to your site. Build rapport with a website that sets you apart.
Is your listing presentation well designed, and concise? Get your message across clearly with a good representation of your marketing materials.
Direct Mail is still relevant, although I would not recommend it to be your primary investment. The major benefit is Brand Recognition. If you have a small target area, then sending quarterly updates builds trust and will make your name remembered.
Email marketing is invaluable and should be a cornerstone in your strategy. Send new listings and market updates to the leads acquired from your website. Email newsletters will also direct traffic to your website, benefiting your search ranking.
Has your site been optimized for search engines? We often have Realtors come to us after working with another company wondering why they are on page 10 on Google. When you pay for site design, SEO is often not included. Adding custom page titles and descriptions to every page is essential to improving your ranking.
3. Marketing Budget
How much are you willing to budget on marketing every month? Will it be a percentage of every sale?
4. Brand Identity
Keep your brand fresh and consistent across all mediums. Social Media, Email Stationary, Marketing Materials etc.
5. Client Retention
Keep an address and email list of past clients and contact them regularly with a personal letter. Set yourself apart by sending something personal like a small gift card or redeemable voucher at a local cafe.
We have experience in the real estate industry for more than decade. Marketing top tier producing Agents across North America has allowed us to become second to none. We are strategically bold and have a fresh and forward thinking approach. We will help you get the market response you are looking for with a strong Marketing Plan. Marketing is an investment in your business and your success.Contact Us