Real Estate Marketing for the Beginner

Marketing in real estate has never been so challenging. From traditional flyers, brochures and door knocking, to new media solutions like Facebook and LinkedIn, a person can lose him/herself in the race to keep up. It makes perfect sense then to work with purpose and a plan. After all, time is money. We’ve learned no greater lesson of that than today.

No matter if you hang your license with a brokerage or run your own show, developing a marketing plan for your personal brand is no easy feat. It takes time and focus. However, pulling one together can mean the difference between putting your best foot forward and realizing tremendous success, or wasting valuable money and energy in constant pursuit of results.

The guts of your marketing plan depend on your knowledge and understanding of many factors other than yourself. While you work, you’ll want to have handy an arsenal of resources about your market, your competition, and your business service allies. If you haven’t already done your research, get ready to invest some sweat equity!

Overall, your marketing plan should address the following components. This isn’t meant as an inclusive list; rather, it is simply to get the juices flowing.

About You

• What defines you? Are you a native of the area? If not, what brought you there? Why are you in real estate? Are you involved in the community? Allow yourself to paint a picture and work to engage those unknown prospects who you’d eventually like to attract as clients.
• What is your mission statement or slogan? If people think of you, what few characteristics do you want them to remember? In later years, you’ll look back on how much you’ve grown and evolved, but don’t be scared to put to paper the vision you have for yourself and your business.

To Whom You’ll Market

• You’ll be wise to target your message to those most qualified or likely to appreciate your brand and listings. Are you focusing on the first time home buyer? Or are you aiming for the luxury market? Many commence their careers in real estate taking whatever comes their way; many others decide from the beginning that they want to be especially successful at representing a certain market. The decision is yours!
• If you are a seller’s agent, in which neighborhoods will you focus your efforts? If you’re a buyer’s agent, what is the profile of your best client? What feeder markets are known?
• You should also get busy on updating that Rolodex of friends and acquaintances. In today’s day and age, a significant portion of business is won based on who you know and how you work referrals.

How You’ll Market

• You’ll want to study a step-by-step action plan for marketing individual listings. Most established offices or franchises will have an action plan already developed, as well as the resources you’ll need to put it into motion. One I found particularly thorough (but a tad overwhelming)is Len Moore’s 30-Point Real Estate Marketing Plan.
• If you’re with a brokerage, with which marketing does your company assist? Do you have a marketing director or coordinator with whom you can work?
• Which mediums best reflect your target market? You’ll be tempted with countless options, but you’ll be wise to really evaluate the newspaper, magazine, web site, direct mail or other strategy to make sure the odds of reaching the audience you’re after are in your favor.
• What is your social media strategy? Today, there are many agents who run entire empires from a blog, Facebook, LinkedIn or other web platform. Again, consider your audience and be prepared to put in the time it takes to keep up with the technology.

Customer Service Standards

• This topic deserves special attention. You’ll be known for your detailed eye – or lack of one! Study the pros and those most successful in your office or networking group.
• Consider handwritten notes and personal phone calls. Consider a birthday card program or a client appreciation gift. Everything you do should be done with a personal touch that is in line with your personal brand. In fact, nothing should be random.

Finally, you’ll want to establish a budget and consider seriously just exactly how you plan to pay to implement your marketing plan. Ask any veteran of real estate: it takes time and putting one foot in front of the other to realize your momentum. Take care not to get ahead of yourself and spend money that is not yet yours, but do find a balance in representing your brand and your listings that allows you to act responsibly and fiscally conscious.

In closing, know that no marketing plan is set in stone. Indeed, its owner should be on constant watch for new efficiencies and methods. This doesn’t mean that you’ll try and/or buy every offer out there. But it does mean you’ll know yourself and your plan well enough to spot new strategies you can incorporate into your daily efforts. A smart marketer is always in the know! Good luck!

Tagged as: Len Moore, marketing and technology, marketing plan, Natalie Diekmann