Selling a property is a major endeavor. You want to be able to get the most out of the sale, and that means finding the right buyer that’s ready, willing, and able to pay the purchase price. This doesn’t just happen without any effort, of course – you’ve got to put in the time and resources to market the property. Here’s what you should know about what real estate marketing entails as well as five great tips for creating your own real estate marketing plan from a seller’s perspective.
Today’s real estate market is incredibly crowded. That makes it difficult to get your own voice heard among the masses – and that means your real estate listing can easily be overlooked because there are just so many other properties available! In other words, you need to take a smart approach to market your property. You can’t do that without a plan.
There are five crucial components to any real estate marketing plan for sellers. Not having one is akin to shooting yourself in the foot; research shows that using a marketing plan template can increase website traffic by 50 percent in a year. But that’s only if you understand these five components. Let’s look at each one in order.
A picture will always be worth a thousand words. This is even more important today because the first time a potential buyer sees your property will be online on an MLS listing site, and great photos can truly sell a house. In fact, a whopping 92 percent of home buyers rely on the internet to begin their house hunting.
If photos are good, videos are even better. A static photo can showcase a single room, but a video is highly effective because of its ability to provide a more complete experience to house hunters. Recording a video as you walk through a property allows you to showcase interesting architectural details, share information about the fixtures, and provide context on the local community.
Budgeting is essential for success. Marketing successfully often requires an investment of resources, so make sure you invest wisely so that your return on investment is worthwhile when the property sells. Choose cost-effective marketing methods that won’t eat into your profit margin too seriously for the best results.
Knowing your audience is key to marketing. If your property happens to be in a desirable school district, your best bet is to target families with school-aged children for the best results. Meanwhile, if your property is a modest property, targeting demographics that include house hunters looking for starter homes or retirees looking to downsize will be beneficial.
Part of an effective real estate marketing plan is to create goals that you can pursue. These goals should be realistic, attainable, and progressive. This way, meeting an initial goal paves the way to meeting another one, and so on. Smart goals to set for real estate marketing include taking photographs, setting up an MLS listing with those photographs, marketing that listing through social media, and supporting that listing through additional content posts like videos.
Speaking of content, it’s crucial to understand that today’s online marketing heavily involves the creation and promotion of content designed to attract positive attention to your property. Photos, videos, and blog content are all excellent choices for content. Blogging is especially useful as you can position your content in preparation of launching an MLS listing; as you can create a post well before the property is listed, you have opportunities to create a strong online presence waiting for anyone who searches for what you’re selling.
Real estate marketing plans that make use of online spaces can generate a massive increase in leads – up to 33 percent per quarter, according to recent research. Here’s how to both create and execute your marketing plan as well as measure the results of your plan.
Never just “wing it” when it comes to marketing. Create systematic approaches, as this will help you gauge the timing on the different elements of your plan and when they have to be ready. For example, you should begin your social media marketing efforts slightly before your MLS listing is live to build your brand authority so that your audience is amenable to your further marketing efforts.
Stick to a rigorous schedule when implementing the different steps of your marketing plan. Keep your activities timely and relevant, but balance this against over-saturation. Too much of a good thing can lead to negative impacts that could reduce your chances of success!
With most online real estate marketing plans involving social media, it’s easy to measure your results. Check your engagement levels on your posts and other content; if they are trending higher over time, you’re doing something right. If they are largely ignored or if interest drops off, it’s time to try a different method.
The property market is an ultra-competitive one. Finding the right buyer for a property is a major task, but one that can be made infinitely easier by creating a real estate marketing plan to sell that property. Be sure to follow each of the five tips discussed above and your marketing efforts will have a much higher chance of success than they would otherwise!
Very helpful post.