The real estate market is known for its impressive highs and devastating lows. Right now, we’re seeing the signs of a cooling market. This is not just because builders are adding 3.7% to overall inventory each year.
There is simply more competition and people are more likely to choose to rent these days. Millennials change jobs fast, and so they don’t want to commit to a house purchase.
Anyone trying to sell real estate must have a solid marketing plan if they’re going to succeed.
Know Your Audience
This is the most basic marketing rule there is. The problem with real estate is that you could always get away with just putting a sign outside and registering your property with your local agent.
Those days are long gone. You can no longer accept that this is going to work on its own. You must know your audience and target your home specifically towards them.
For example, someone who’s selling a seven-bedroom mansion would want to hire a specialized agent to manage this. There’s little point in registering this sort of home on a conventional real estate portal. It doesn’t match the audience.
So, think about it. Who would your home suit best?
Create a Social Media Marketing Plan
Did you know that 87% of marketers rank social media’s primary benefit as exposure to their business?
Promoting real estate listings across social media is quickly becoming a popular way of taking advantage of social media. For example, consider how you might use dedicated local real estate groups in your area on Facebook to sell a property.
It’s a great way of encouraging engagement.
Look for the Elevated Pricing Floor
Marketing is not just about making a sale. It’s about making a sale at the right price. Adopt the strategy that many real estate agents utilize on a regular basis.
The elevated pricing floor involves putting your property at a higher than market value and working backward. You go in fully understanding that you’ll give ground during negotiation, but that doesn’t matter because you’re still making far more than the market value.
Just make sure you don’t go too high or you’ll get no interest.
Use Smartphone Technology
Millennials spend an average of five hours per day on their smartphones, so you need to take advantage of that. Concentrate on listings that look good on mobile devices.
With millennials expected to be the next big buying generation, this must be a part of any successful real estate strategy.
Bring in Automation
Unless you have someone, who can manage real estate marketing full-time, it makes sense to bring in automation tools. Real estate marketing portals like Ixactcontact are just perfect for handling all your basic needs.
You’ll be able to use automation to accomplish lots of tasks, including social media management, replying to customers, and lead conversion.
Last Word – A Multi-Dimensional Plan is the Key to Successful Real Estate Marketing
Real estate marketing plans must go further than simply throwing out listings everywhere you can. They must consider the target audience and the technology available.
How will you be more innovative with your next real estate marketing plan?
