| It is imperative in the highly competitive world of residential real estate sales to have a sound marketing strategy before you develop a tactical marketing and sales program. Once you have done your research and crafted your strategy, you can sit down and make a marketing plan and outline the steps you need to take to execute it properly. Skipping this process puts you at a distinct disadvantage to the successful real estate agents you are competing against for listings and sales opportunities.
You need to understand your market. You need to have a clear understanding of the different buyers and sellers, their unique personalities, characteristics, and buying habits. What is happening in neighborhoods, driving prices higher or lower, overall community growth, and so on? You really need to look at your target market and put your finger on where it is now, where it is going, and what drove the changes and sales in the past.
Find out as much as you can about your area, the people in it and what drives the buying and selling of real estate. Armed with this information you can tap into trends long before they happen. You can set yourself apart by being one step ahead of the crowd. This may require tapping into different market segments at the same time such as relocations into your area or new construction, and being able to differentiate the subtle changes within each and
Create a set of questions you ask yourself or the people associated with the transactions in your market, such as:
Asking clients what they want in a home.
Are buyers changing what they want or need in a home?
What techniques and special incentives are buyers and sellers are actually doing to buy and sell homes.
Make note of what is going on and you will always understand your market. With an understanding of your market, it becomes easier to create a master marketing plan that is creative and cohesive and flexible to the ever-changing marketing and sales landscape.
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