Your Real Estate Marketing Solution – Real Estate Marketing

In real estate there are many different ways to generate business. Many start with the aspect of “branding” themselves, some start with their sphere of influence, and others start down the road of direct response marketing. There are many different ways to build a marketing foundation for your real estate business and your solution should fit your needs and your personality.Before you spend any money on real estate marketing, it is important to consider the following:There is no SILVER bullet
 
No matter what type of solution you decide to use for your real estate business there isn’t going to be a silver bullet or a magic pill that will give you as much business as you could imagine without any work or money. A good marketing solution will require that you invest your time and money into making it work for your business.
 
There are a few important factors to consider before starting any real estate marketing program. 

What type of business do you want? – Don’t just say “I will work with anyone” as that will result in marketing that has no direction and will be too expensive. The most obvious first decision to make is whether you want to work with buyers or sellers. With just a simple focus on working with buyers or sellers you will be able to determine what marketing will help you to best reach your target audience. Buyers and sellers have different needs and your marketing needs to fill those needs for you to have success.

What type of marketing do you really want to do? – With online advertising growing at such rapid rates it is certainly one of the most popular and effective mediums to go with to get new customers, but is it a fit for you? There are many real estate professionals across the country that are having huge success with magazine ads, flyer inserts, and postcards so if that is something you want to do then choose a marketing solution that offers those templates as well.

How are your phone skills? – Be honest with yourself on this one as this can make the difference between massive success and wondering why “the leads are bad”. With new marketing comes a new source of leads so take time to consider if you are prepared to handle leads from that new source. Whether you are getting calls from your website, magazine ads, postcards, sign calls, or another medium there are different questions you can ask prospects to qualify them and see if they are a match for your services. A complete marketing solution should also help you with scripts and objection handling techniques.
There are many different real estate marketing solutions out there and one of the best ways to see which one is right for you is to pick up the phone and call the people who have created it. When they take the time to answer your questions you can see how it would work for you and they might even give you some new ideas you hadn’t thought of yet that you can apply to your business.

Your Real Estate Marketing Niche – Real Estate Marketing

Starting in real estate often means being the “jack of all trades” in the area. Your expertise becomes anything related to real estate, whether it be listing homes, selling homes, or maybe even doing a home loan. Your real estate career gets even more clouded as you get involved with the different types of real estate from condos, homes, land, multi-units or maybe even stretching to commercial. Performing this many real estate tasks is a juggling act that very few agents ever survive.In order to close business every month, have a life, and experience the big rewards it becomes necessary to specialize in a in a niche of real estate. Before we can examine the benefits of specialization let’s examine the fears that many people have about selecting a niche:
I will lose business by specializing
There aren’t enough transactions for me to specialize
I don’t know enough about anything in real estate to specialize
These are all common fears to experience before selecting a niche to specialize in and dominate. As you are considering your niche, I invite you to consider the following question:If you had a possibly fatal heart condition and you were looking for a Doctor to help you, which Doctor would you select?A) The Doctor who is a Podiatrist, Pediatrician, and a CardiologistOrB) The best Cardiologist in your stateFor most they would select “B” because that Doctor would have handled more conditions than the “A” Doctor. She would have the experience, have run into more problems, have solved more cases and would have to be the absolute best in order to make a living in just one area of medicine.So, by selecting a niche are you turning away business or are you inviting more of your niche than you ever could imagine?Selecting your real estate marketing niche will bring you a flood of business for that niche. In order to demonstrate your expertise in a particular area, it doesn’t take shouting from the treetops that you are the “expert”. Here are some methods that you can do to demonstrate your expertise in a niche and start bringing in more of the business:
Write articles – Write articles about the type of real estate product that you have a passion for. For example if your passion is condos write articles about home owners associations, selecting a community, and even choosing the right floor plan.
Contribute on forums – There are often community forums where local residents bring up questions about communities or their local city. Participate in these forums (without directly asking for business) and answer questions.
Attend community events- This can range from attending a local board meeting of home owners to having a small booth at a farmers market. Wherever you attend make sure it is complimentary to your niche. There are many different ways to share your expertise in order to bring in more business. The first big step is just committing yourself to real estate marketing in the niche where you have the most passion. To your success.

Real Estate – Buying or Selling a Home in a Cyclical Real Estate Market – Real Estate Marketing

The real estate market is cyclical – filled with periods of solid appreciation and periods of stagnation or decline. The cycles are generally long because the process of buying and selling real estate takes time.Despite the current downturn in the real estate market, buying a home is still a great investment. The tax benefits of deducting mortgage interest and real estate taxes provide a great incentive for home ownership. A recent study showed that owning a home continues to be a solid way to build wealth over the long-term. Homeowners almost always get a positive return on investment within 10 years.Although the rates of return vary by market, following are some common findings:
The longer you own your home, the more your investment will increase.

Your rate of return will stabilize over time, even in volatile markets.

For a positive return on your investment, the timing of your home purchase is less important than the length of time you own your home (the longer you own your home, the more stable its return will be).
Following are additional observations for buying or selling a home in a cyclical real estate market:

Buy when the market is soft – not when prices are rising. In this scenario, you get more for your money in a less competitive environment. The majority of home buyers tend to follow the crowd and wait until it is obvious that the market has turned.

Use seasonality to your advantage. For example, the middle of winter is a great time to buy a lake house in northern climates. There will be minimal competition and sellers that are anxious to make a deal.

Focus on the local real estate market. National statistics refer to statistical averages. Therefore, it’s important to focus on the real estate market you are buying or selling in. Don’t be distracted by generalized reports. While some areas of the country are experiencing price increase, others have turned around with falling inventories. And, while some areas have price declines of a few percentage points, others are in double digits.

Search for greater affordability. Lower prices mean houses are more affordable and, thus, this increases the market of potential buyers and mitigates the effect of tighter credit standards. This also reduces the risk of further price declines.

Conduct research on pricing for the current market. If selling your home, be sure to compare the price of your home with similar properties on the market and ones that have been sold. Buyers are looking for bargain prices and won’t bother negotiating with someone they feel is asking too much.

Real Estate Marketing For Short Sales – Real Estate Marketing

In all real estate markets there are short sale sellers. For a variety of reasons, homeowners can be in the situation where they need to sell their home, but there isn’t enough equity for them to be able to accomplish their goal. These home sellers have the need, but they don’t know how to get help.The real estate professional that can put themselves in the position to solve their problem can pick up 5, 10, or even 20+ listings every month. Before getting into how to market for these listings it’s important to understand some of the challenges that you will be undertaking by taking short sale listings.Short Sale Listing Challenges and SolutionsAlthough this niche allows for a tremendous source of business it does have some of the following challenges.
Massive amounts of paperwork
A large percentage of them can fail
They can be very time intensive
The great part about these challenges is they can be solved easily, when you have a good system to follow. The massive amounts of paperwork and the amount of time necessary to process a short sale can easily be outsourced. In fact, many of these processes can be contracted out to people who you don’t even pay until closing.To overcome the battle of the ones that don’t succeed, it’s important to take advantage of the buyers calling on the listing. Every short sale listing you take should result in 1-3 additional buyers that end up in a closed transaction. Imagine for every listing you took, you 3 additional closings!Marketing for Short Sale SellersShort sale sellers need help and they need help quickly. Most home owners in the position of needing someone to help them when they don’t have equity understand that they have a problem, they just aren’t sure how or even IF it can be solved.Your marketing messages should be crafted around solving their immediate problem, alleviating their fear, and providing a solution at the same time. For example take the following marketing message:Don’t Lose Your Home To Foreclosure, I Can Sell Your Home in 59 Days…GuaranteedMany home owners don’t understand the term “short sale” but they are aware that they could end up in foreclosure. You can use your marketing message on direct mail, pay per click ads, postcards, and your website. Let homeowners know that you are there to determine how you can help them and you will book fresh appointments weekly.We invite you to discover more about marketing for short sales and closing more sales with our free real estate marketing book.