To borrow from the American Marketing Association, marketing is “the … activity, set of institutions, and processes for
- delivering, and
- exchanging offerings
that have value for customers, clients, partners, and society at large.”
In real estate marketing, there are many layers. Some elements are basic and foundational and others may represent a more specific strategy around a current trend in the marketplace or the uniqueness of the subject property.Below are only a few elements of marketing in real estate:
- Price range/price increment
What is the real difference between $499,000 and $505,000?
It’s not just about cleaning and creating style – it can also be about which style? And what adjustments can be made to emphasize the characteristics most desired by today’s potential buyers?
What is the best way to represent a property in the marketing remarks, the hard copy publications as well as online? What images and key words create interest or curiosity? What gets potential buyers through the door versus just looking online?
Within each marketing category there are strategic elements. All strategic efforts combined forms our overall effort to fit into the competitive environment. What resources do we have toward this end? What influences are at play currently?
- Broker reputation
How does this influence your goal to sell? How does the public respond to one Brokerage sign compared to another? What do Brokers themselves think of one Brokerage firm vs. another? It matters more than you think!
There can be benefits for listing in the off season and benefits for waiting for the peak season. How does a seller weigh this decision? And what is best for your property?
In addition to some of the basic principles of marketing in real estate, a property’s unique features can benefit from a custom marketing plan. For example, a recent listing of mine was located in the area of a medium-sized, private school so I created a personal invitation to the school community for the open houses. Many families are often looking to be nearer to their children’s school, especially when there is no transportation as is often the case with private schools.
Every property has unique and special attributes. When we meet we will make a list of yours and begin to customize a marketing plan that maximizes exposure for your property and targets the largest pool of potential buyers. Addressing the basics – price and preparation – are always the most important and none of the other strategic efforts will matter much if you don’t have these two in order. For example, a staged home inspires an emotional connection, but a buyer won’t necessarily purchase an overpriced home just because it’s staged.
When you list your property with me, it will be promoted in local, regional and national media outlets. Coldwell Banker Bain’s wide variety of specialized marketing provides us with all of the tools necessary to sell your home quickly and efficiently. The marketing materials we create to sell your home set the highest standards for our profession and the reputation CBBain has established in the industry will give you instant credibility.