Four Low Cost, High Impact Marketing Programs for Real Estate

October 22, 2008

Yes times are tough but not marketing will only prolong the pain.  It is my beief that those that keep a presence during the down market will be the first to benefit when things do begin to turn.  Yes, not if, but when.

The real estate market is cyclical and the pendulum will eventually swing back.  When?  That is what only the Man upstairs knows.  But will you be ready or will you be scrambling to catch up?

My recommendation is to keep a low cost, high impact action plan.  Unlike other market downturns, there are new opportunities that weren’t around during the downturn in the late 80s.

1. Your database – if you have 5,000 or more names statistically there are sales in there.  Our research shows that 5% of your untouched database has already bought somewhere else.  You could have been that sale if you were constantly servicing your leads. the sooner you talk with them, the sooner they will purchase when things do turn because you will be top of mind.
2. Your Website – Do you have a brochure online or do you do a good job of creating a local resource and thorough community overview?  Can a prospect grasp your value proposition quickly or do you blend in with all of the competition? Do you have multiple call-to-actions on every page?  Remember the goal is to convert a visitor to an inquiry, not just create visitor.  If you are not capturing 1.5-2.5% of your visitors to inquiries your site may be under performing.
3.Online Marketing – Web site inquiries are NOT bingo leads.  They are buyers on their time.  Can they find you in their search? If a buyer is online shopping real estate today they are ignoring the headlines and making an independent decision to look for good opportunities.  If they can’t find you they are finding your competition.  Search engine and optimization and online media are far more economical than traditional print media and are easy to track. If you are not taking advantage of search you better start today, it can takes months to see the benefits.  It is like a garden… plant the seed, water it, let it grow and then harvest your new leads.

4. Relationships – Are your owners proud of their investment?  Are they advocates for their community?  If so, then they will be the ones driving the “thinker” buyers that know now is the best time to buy.  Cocktail party chatter will soon be about when the bottom will be here.  Are your advocates equipped and up to date on your latest offering?  Get your owners and local brokers involved and communicate the benefit of spreading the word now.  Remind them of why they chose your community and get them to share.  This can be successful with both on-site and off-site cocktail parties that provide a casual atmosphere to get owners, prospects and referrals together to talk about experiences they have shared at your community.  No one tells your story better than those that live it.

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