It’s Black Friday, and Cyber Monday in retail, but bargain basement prices are also very real in real estate right now- I wonder if you’ve gone about the business of marketing this effectively in your market places?
“4% Interest Rates & Zero Down while grant lasts- call now!”
Fire sale new home pricing in Los Pines while inventory lasts, agents standing by…
I made this up… or did I? I’m sure with a little homework in your market and the right neighborhood with really great inventory, you could package and deliver a strategic marketing plan for yourself, team, and/or boutique brokerage.
With a title like that, you’ve obviously got the target in mind, so put into your plan what they’ll need- credit and financing partner, an appropriate list of inventory, and a few hours with your best camera. You’ll need to cover where you’ll target for real time reaction.
Here’s the short list:
- Craigslist: be consistent in the message and focus on the target. Ask yourself what these folks need to hear to act now? Deliver your consumer to a special landing page linked to your blog, and watch your metrics.
- Your blog: don’t be a blast salesman, instead, think like a retail merchandiser. For example, Prices as low as _____ (and show the image for that asking price) and up to ______ (and illustrate that home). Also, writing supportive articles about financing in this marketplace as well as buyer tips on foreclosures or short sales could really build your value in the eye of the consumer as you pull them in.
- Banner space on your website? Again, think like a retailer, name your sale. “Los Pines Year End Event? Fire sale prices starting at? “
- Facebook ad? same thing but link to special landing page for your event, and remember your target.
- Twitter? same thing but make it a grassroots word of mouth campaign
- Word of mouth: take it to the neighborhood with a simple business card and get those listings too.
- Bandit signage: I hate bandit signs, but something new and creative could bring them to life.
The above list is not a complete list of targets but a short list to get you inspired. Let us know in comments what other methods you would add to the list or feel free to ask questions. Also, keep in mind your area rules and C.O.E..
Don’t forget to give your promotion an end date because yes, it should end. Also, if your broker is not in control of the listings in this neighborhood, promote the ones that are or find a local new home builder that might like the attention and cooperate. Don’t get yourself bound up in a giant campaign with other Realtor partners, this is designed to turn on in an hour, not a month of planning- so keep it simple.
Put a text for info sign in your craigslist ad, put your text number beside every image you place, on every ad, and on your bandit signs. Create a fast and easy list they can pick up or you can text, email or fax to them, and if you must for your buyers representation agreement, set it specifically for these homes- remember, we want to make this easy.
Watch your metrics, and try different headlines where you can in real time. Obviously, you can’t change a bandit sign, but you could change your headline on Craigslist until you get one that hits, and you can measure that by where they came from, and/or the text for more info feature you’re using.
So let’s have a serious chat here…
Do you love this business? Are you in the dumps about how the world is changing and the housing market sucks and it’s winter so nothing is going to sell anyway? Then you should quit the business today. However, if you want remain in this business, you’d better begin thinking differently. Try this headline on for size: “Built in 2010 but priced at 1990 prices?” There are great opportunities in this market for your buyers and sellers and you should be marketing those opportunities!
The phones can ring in December, and in January, and in February, you might just have to warm people up with great prices and targeted marketing.
November 29, 2010 at 6:46 pm
Great article, Benn! The slow winter months provide a great opportunity for Realtors to test out different marketing strategies.
Putting the extra time to use now drives business and gives a head-start for the busier months by finding out what works.