Marketing Strategies Part II
Here we are again, sitting down to a nice cup of coffee and the Sunday paper. I hope you enjoyed last week’s column reviewing various marketing strategies for real estate. In case you missed it, which I hope you didn’t, I wrote about general approaches to marketing. This week I’ll go a bit more into specifics. A key point in Betty’s question was how we strategize our marketing based on style, location, audience, etc. That’s where a little more nuance is involved.
It starts with the photos. Arranging photos logically so the person looking online can get a feel for the flow of the house is very important. Should aerial photography be done? How about a video style virtual tour? Much depends on the setting and layout of the home when addressing these questions. An open floor plan is pretty easy to see in photos, whereas larger and more compartmentalized homes may be better showcased by adding a virtual tour aspect. If the homes sits on a spectacular lot or has mountain views, drone photography is a consideration. Again, first impressions are extremely important, and the goal is to convert on-line lookers to real life showings.
Description is also key. Lot size, square footage, and number of rooms are listed in the details, but what about the emotion of living in the home? I attended a seminar once and the speaker very aptly pointed out that you want the potential buyer to start taking ‘emotional possession’ of the home from the very start, and the best way to achieve this is in the description of the home. Sipping coffee on the balcony off the deluxe master suite is very different than double doors to back deck.
Knowing the demographics of the potential buyers is another key element to effective marketing. A Millennial buyer is looking at different features and in different places than a Gen Y buyer. Social media is the biggest factor here, and todays algorithms allow us to target geographic areas and some specific demographics such as interests and life events. We as professionals are continually educating ourselves on not just the trends of online marketing (there’s no such thing as My Space anymore) but also regulations on both site-specific and governmental levels to ensure we are using these platforms to the best of their potential without violating any rules or fair housing laws.
This can also translate not just to buyer’s demographics but style of home, historic properties, vacation properties, etc. When you’re talking with your agent go over what their strategy will be so you can partner with them by sharing the ads, websites, and events to get the best exposure and quickest sale of your property.
Betty, I hope I have sufficiently answered your question. Thanks again for the idea and to all you curious readers out there, I’m just an email away. I hope everyone has an amazing week ahead and I look forward to hearing from you….