April 6, 2010

Real Estate Market | How To Market & Promote Your Real Estate Business

Every real estate brokerage, mortgage company, interior design company, and real estate law firm wants to increase business, to drive up sales and revenues. They may try a variety of tactics, but the results often fall short of expectations. What to do?

To attract new clients, one must be positioned as a leading expert. No one wants to retain the services of mediocrities. One begins to be perceived as an expert by publishing bylined articles, being the subject of press releases and of direct mail solicitations, and by putting on seminars and webinars. One’s years of accomplishment, skills at achieving results, and creativity in overcoming obstacles can all be highlighted and, where possible, made the subject of valuable media stories.

Here’s a concrete example of what I did for one of my clients, an interior design firm. Prior to retaining my services, the principals had been making cold calls and knocking on doors trying to drum up business. They got a few prospects, but an even smaller number of them turned out to be clients. They tried to make deals with leasing agents and building managers, but so does everyone, and the competition is fierce. Raising the ante of incentives can made one feel the need for an ever-faster revolving line-of credit.

They needed to do something new, something different, something that would set them above their competition. Here’s what I did: first, I wrote a case history for a real estate publication in which I explained how an interior design company can make a building more attractive by redecorating its public areas; I used specific examples about how such techniques have been used in a variety of buildings to attract new tenants and reduce the vacancy rate. Once the article appeared, I made reprints of it and mailed it, with a covering letter, to building owners and operators. After ten business days, I had a trained college student working from a script call each of the recipients. The caller tried to set up as many appointments as possible for my client. For each arranged appointment, the caller received additional compensation. Once appointments had been scheduled, I prepared a scripted presentation for my client that included a video of work they had done. What was the result of such a procedure? Voila! New business.

There are, of course, other sources of business for an interior design company, and it is essential to identify as many marketing targets as possible. Another target, for example, was showroom tenants. My client had expertise in designing showrooms for garment tenants. I built on that expertise and wrote an article about how my client helped several showroom tenants improve their images and so increased business. The article contained

Jeffrey Sussman is president of Jeffrey Sussman, Inc. a marketing public relations firm in New York City. He is the author of the best-selling book, POWER PROMOTING: How To Market Your Business to the Top! His website is http://www.powerpublicity.com and his e-mail is marketingpro@aol.com

Jeffrey Sussman
Jeffrey Sussman Inc
http://www.powerpublicity.com
212-421-4475

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3 Comments on Real Estate Market | How To Market & Promote Your Real Estate Business »

June 20, 2011

landwish @ 6:07 am:

New homes are often called "new construction". Old homes are just called "real estate". I don't believe there is any special name for them.

A lot of sites list the age of each home and some let you specify acceptable ages in your search.

July 7, 2011

Real Estate Secret Info » Blog Archive » Recession or recess of real estate market? « Indian Realty Blog @ 5:13 pm:

[...] unknown wrote an interesting post today onRecession or recess of real estate market? « Indian Realty BlogHere’s a quick excerptA lobby of investors does not want share market money to go easily from the real estate market. People, who have invested in real estate from earning of share market, want an exit to pay off the liabilities created by them in the share … [...]

August 22, 2011

memaw @ 3:25 am:

If you can weather the current economy and get by for awhile with lower earnings, it would be a good chance to learn the industry. I don't know for sure but I would guess agents are dropping out of the business like crazy, so it could be a good time to get in. Also, if you like the business, that is a factor as well.

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