April 30, 2010
Marketing Real Estate | Real Estate Marketing Strategies For Private Investors
Development and implementation of real estate marketing strategies is an important part of buying and selling houses. Without some sort of marketing plan it is virtually impossible to locate realty for sale or buyers ready to purchase. Whether trying to buy or sell residential homes, commercial properties or raw land, marketing is the key to success.
The first stage of real estate marketing involves developing an overall plan. Marketing plans help investors establish their target market and identify buying habits of potential clients. Individuals interested in residential properties will have entirely different needs than those buying commercial real estate.Retired couples will have different housing needs than newly married couples or families with children. In order to sell properties investors must gather as much information as possible about their clients and the market.
One of the most common mistakes investors make is to gear marketing materials around their own successes. The first rule of thumb for any marketing campaign is to remove the marketer from the equation.
Although it is true that clients might be impressed that an investor possesses 20 years experience or closed mega-million real estate deals, they really want to know how investors can solve their problems or help them buy or sell property. Therefore, realty marketing materials should address how investors solve problems and overcome challenges.
The best way to start is to compose a list of common problems buyers often face. After identifying these challenges, create a list of how your investment company can solve each problem.
These might include addressing financing options for buyers with bad credit and those who have filed bankruptcy or lost their home to foreclosure. Realty marketing materials can help investors establish trust and build relationships by demonstrating how they can solve problems.
Another important aspect of marketing plans is to develop follow-up strategies. People rarely make important financial decisions simply by reading a marketing brochure or sales letter. In most cases, it takes an average of five to seven contacts with a person before real estate deals transpire.
Realty marketing plans should encompass the various tools investors can use to attract buyers. These might include developing a website; sending out letters, sales flyers, or postcards; follow-up marketing strategies; and advertising strategies such as billboards, signage, park benches, Internet marketing, or Classifieds ads in local newspapers or realty magazines.
Real estate marketing is an on-going process, so investors should plan to review their marketing efforts on a quarterly basis and make necessary adjustments. Technology is constantly evolving, so investors must make an effort to stay abreast of market trends.
Investors should consider hiring freelancers to help with marketing materials. These can include copywriters, graphic artists and webmasters. While hiring others initially costs money, having professionals design real estate marketing materials can save money in the long run.
The Internet is a great resource for locating freelancers and obtaining marketing advice. Consider joining investor forums, social networks, and real estate clubs to network with other professionals. By taking time to network, investors can find the resources and buyers necessary to develop a successful business.
Simon Volkov shares investing secrets and insider know-how of buying and selling investment properties through the development of a solid real estate marketing plan. Sellers and investors are encouraged to list their real estate investment properties via the “we buy houses” form at www.SimonVolkov.com.
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9 Comments on Marketing Real Estate | Real Estate Marketing Strategies For Private Investors »
May 9, 2011
MS @ 4:33 am:
Most people do not put their parents in nursing homes. But more and more people are suffering from Alzheimer's disease and an advanced case is impossible to live with unless you can afford round the clock nursing care. Also some people are so disabled that they can not look after their personal care, and do not want their children doing it for them. For people who raised children that are as selfish as the ones you described, I can not help but wonder if they were really as unselfish and caring as most parents are when they were raising these selfish children. I also see a lot of people neglecting their children. It may be a case of what comes around goes around.
May 30, 2011
Heath @ 7:41 pm:
Brett Thanks for opening this subject, Larry thanks for publishing it.The US system of marketing real estate is clearly broken or at least obsolete compared to Australia. There is no excuse for a million dollar properties to be so poorly marketed in the US. I have worked with 2 brokers who ask sellers to pay for photography and get reimbursed at closing. These sellers don’t seem to mind at all when they cut me a check while other brokers are complaining that they cannot afford photography and they are loosing listings to those who can. I have shot a few videos with sellers present and they are thrilled with the process and the product. I am sure they would participate in the cost when they know the upside to great marketing. Breaking the old ways of thinking in real estate circles may be harder than we think. Established brokers have made allot of money using the current system and when one pioneer broker goes out and shakes things up by providing (pro) video and other cutting edge marketing they risk becoming a black sheep who listings do not get shown by other jealous brokers. I know it sounds unbelievable but apparently it happens. Going straight to the seller may be the best solution. They control the money and can demand products and services if they know they exist. I am starting an ad campaign targeted at sellers. I am sure it will anger some brokers when their clients call and ask about having a video done of their home but we all need to take some risks if we are going to change the way real estate is marketed.
June 19, 2011
Asvetic @ 5:02 pm:
Marketing does work… also to note the 3 major brewers in America (Bud, Coors and Miller) pay to have their beer prominently displayed in stores, edging out the smaller local breweries for that prime marketing real estate.
June 28, 2011
Snarky's Wife @ 8:07 pm:
We have the opposite problem. We're considering selling our house rent-to-own because it might be the only way we can sell it in this market.
From my point of view, my main concern if I were selling to you would be that you might change your mind and decide not to buy it after all, after we already moved to a distant state. Then we would have to travel back and start over.
To prevent that kind of setback, we might insist on a lot of money up front. But you don't have it. So it seems like a big problem from both your point of view and mine.
On the other hand, what else can we do?
To the person who mentioned a lawyer writing the agreement, aren't there already any standard agreements written by a lawyer and sold as forms to fill out? Or does everyone who does a rent-to-own have to have a lawyer write the contract for that specific deal and not use pre-written contracts?
July 9, 2011
kemperk @ 7:31 am:
a; the most expensive, slowest way is how I stated; via
a community college.
b; the RE firms offer to finance RE schools normally but now,
I am not sure.
it is a piece of cake being accepted by one of those firms as
it costs them nothing to hire you and they almost always
gain from it.
you should go to an attendance RE school in your area,
and interview RE brokers/office managers and consider
both paying for your own ed and
consider whether you want join a split [commission] office
or a 100% office.
also a few RE firms offer desk fees of 25-50 a mo, much
better than the big companies who want 800-1500 a mo.
finally, you need to decide if you wan to rep sellers or
buyers. YOU will find that while still legal in most states,
dual AGENCY IS AT MINIMUM immoral and likely unethical
even WHEN THE other party permits it.
NO buyer can get the best deal possible when the
same agent rep's the seller and this is the biggest
thorn in the side of AGENCY. Being obligated to BEING
FAIR is not the same as doing the best you can do.
[lastly, most chain firms require membership with
NAR which I personally think is a violation of
Sherman Anti trust laws.]
July 20, 2011
Jinx U @ 4:54 am:
I talked to a co-worker's husband who happens to be a real estate agent at the recent company holiday party. In short, his answer was yes, there is a bubble and that the market really is cooling considerably.
July 25, 2011
Nicholas Katers @ 3:32 pm:
Five stars out of five
Jim Kimmons’ forward to “Online Marketing Techniques for Real Estate Agents and Brokers” was the perfect table setter for author Karen Vieira. The foreword bemoans buzz words and scams involved with online real estate marketing including “black hat” SEO. Kimmons is right to connect his focus on good sales technique in real estate with Vieira’s “quick paced” and informational approach to online marketing.
Vieira’s approach to online marketing for real estate professionals does not spare any detail. In Chapter Two “Creating Your Brand,” the author spends time on the various messages sent by business card colors. Readers are treated to explanations of crawls, keywords and meta tags that are treaded on lightly by other authors. “Online Marketing Technique” does not assume the reader’s prior knowledge of online marketing from the starter; rather, it helps build a knowledge base from chapter to chapter.
“Online Marketing Technique” is a fantastic investment for real estate professionals because of its staying power. The book offers checklists on developing a real estate brand, designing a website and creating online affiliates that will generate sales leads. Vieira challenges readers to create websites for each listing, use their personalities in professional blogs and head to eBay for real estate’s hidden gems. This book does not unveil top secret information on marketing properties online; rather, Vieira blends traditional sales techniques with new technology in user-friendly language.
July 29, 2011
ihc_true @ 11:35 pm:
well did you use a keyword generator and put the code into the html of your site? maybe that might be it. just putting the keywords in the keyword section on your site's account page may not be enough.
August 2, 2011
Mike Blaney @ 4:57 am:
Thank you for the plug, but I can't be a guru until I reach the top of the mountain. Your blog is an excellent source of both marketing and real estate information and I look forward to your posts.