Matthew Rathbun Real Estate Marketing Basics


Published on

Basics of Real Estate Marketing presentation. This is part of a series, in which internet marketing is discussed elsewhere.

Published in: Business, Technology

Matthew Rathbun Real Estate Marketing Basics

  1. 1. Marketing Thinking with the End in Mind Matthew Rathbun, Broker ABR, ABRM, ASR, e-PRO, GRI, GREEN, QSC, SRES, SRS Matthew Rathbun Seminars, Inc.
  2. 2. Marketing is a Conversation
  3. 3. What is your Marketing Saying? Marketing is you talking with other people about your Product or Service
  4. 4.
  5. 5.
  6. 6.
  7. 7.
  8. 8. <ul><li>93% looked for Homes </li></ul><ul><li>21% Area Information </li></ul><ul><li>5% Real Estate Company </li></ul><ul><li>3% Real Estate Agent </li></ul>
  9. 9.
  10. 10.
  11. 11.
  12. 12. <ul><li>Business Expense: Those Expenses incurred as a “cost of Doing business.” </li></ul><ul><li>Promotional Expense: Income producing expenses incurred in an attempt to generate leads and attract business. </li></ul>Page 1
  13. 13. <ul><li>1. Regular and Consistent Contact </li></ul><ul><li>2. Consistent Format </li></ul><ul><li>3. Periodic Personal Contact </li></ul><ul><li>4. Follow-up and Ask for referrals </li></ul><ul><li>5. Generate Clients from Listings </li></ul><ul><ul><li>(not “Use your sellers”) </li></ul></ul>
  14. 14. <ul><li>Open House </li></ul><ul><li>Door Knocking </li></ul><ul><li>Telemarketing (Cold Calls) </li></ul><ul><li>Client Parties </li></ul><ul><li>Networking events </li></ul><ul><li>Social Functions </li></ul><ul><li>Community Events </li></ul><ul><li>Seminars </li></ul><ul><li>Booths at events </li></ul><ul><li>Teaching and Speaking opportunities </li></ul><ul><li>Any more? </li></ul>
  15. 15. Oh, how I love myself!
  16. 16.
  17. 17. Page 10
  18. 18. <ul><li>Define Social Media and “Web 2.0” </li></ul><ul><li>Define VREB’s Authority in Technology Usage </li></ul><ul><li>Explore NAR Code of Ethics Role </li></ul><ul><li>Discuss Risk Management and Policy Considerations for Brokerages </li></ul><ul><li>Question and Answers </li></ul>
  19. 19. <ul><li>My Strengths Skills and Experiences </li></ul><ul><li>Benefits to Buyers/Sellers </li></ul><ul><li>Method of Communicating </li></ul>
  20. 20. <ul><li>Who is the your specific audience? </li></ul><ul><li>What image do you want to project? </li></ul><ul><li>What Does your Brand say? </li></ul><ul><li>Are you accomplishing your goal? </li></ul>
  21. 21. <ul><li>What is a Niche Market </li></ul><ul><ul><li>Specific Group versus General Public* </li></ul></ul><ul><li>Advantages </li></ul><ul><ul><li>Easier to make personal contact </li></ul></ul><ul><ul><li>Database management </li></ul></ul><ul><ul><li>Focus on marketing dollar </li></ul></ul><ul><li>Disadvantages </li></ul><ul><ul><li>Smaller pool of prospects </li></ul></ul><ul><ul><li>May alienate some consumers (luxury homes) </li></ul></ul>
  22. 22. <ul><li>What do I know about my niche? </li></ul><ul><li>What do we have in common? </li></ul><ul><li>Am I comfortable with them? </li></ul><ul><li>Where can I find them </li></ul><ul><li>How do I reach them? </li></ul><ul><li>What do they need? </li></ul><ul><li>How can I help them, where other’s can’t? </li></ul><ul><li>If I select a niche can I change it?* </li></ul><ul><li>Choosing a niche is not like choosing a geographic farm </li></ul>Page 14
  23. 23.
  24. 24.
  25. 25. <ul><li>Promotional Pieces to Fit Niche </li></ul><ul><li>Passive versus Active Marketing </li></ul><ul><li>Traditional Marketing Systems </li></ul><ul><ul><li>Mailings </li></ul></ul><ul><ul><ul><li>Postcards equal 300% more readership </li></ul></ul></ul><ul><ul><ul><li>1 each month for 3 months and then every quarter </li></ul></ul></ul><ul><ul><ul><li>Promote internet marketing on all mailings </li></ul></ul></ul><ul><ul><li>Personal Brochures </li></ul></ul><ul><ul><ul><li>Focus on the READER </li></ul></ul></ul><ul><ul><ul><li>It’s not about you </li></ul></ul></ul><ul><ul><ul><li>Lots of white space </li></ul></ul></ul><ul><ul><ul><li>Photos? </li></ul></ul></ul><ul><li>Public Classes / Presentations can reinforce you as an “expert” </li></ul>
  26. 26.
  27. 27. <ul><li>Where as some clients / consumers prefer seeing a photograph of the agent, it is not always necessary and sometimes can distract from the actual message. </li></ul>
  28. 28.
  29. 29. <ul><li>Printed Newsletter </li></ul><ul><li>Personalized License Plates </li></ul><ul><li>Business Cards </li></ul><ul><li>Presentation Books </li></ul><ul><ul><li>Printed Books </li></ul></ul><ul><ul><li>PowerPoint </li></ul></ul><ul><ul><li>CD’s </li></ul></ul>
  30. 30.
  31. 31.
  32. 32.
  33. 33.
  34. 34.
  35. 35.
  36. 36.
  37. 37.
  38. 38.
  39. 39.
  40. 40.
  41. 41.
  42. 42. What does the potential Buyer see? What does the Buyer need to see?
  43. 43.
  44. 44.
  45. 45.
  46. 46.
  47. 47. <ul><li>45% of Leads will turn into a sale for someone </li></ul><ul><li>Only 10% will become a sale in 90 Days </li></ul><ul><li>22-25% will convert to a sale in 180 days </li></ul><ul><li>The average on-line buyer needs to be incubated for six months to a year. </li></ul><ul><li>The older the Lead the less competition. </li></ul>
  48. 48. <ul><li>What you need vs. What you want </li></ul><ul><li>Cost Plan / Budget </li></ul><ul><li>Consumer Reports </li></ul><ul><li>On-Line Community Support </li></ul><ul><li>Professional Assistance </li></ul><ul><li>What is Valuable vs. Convenient </li></ul><ul><li>Professional Opinion vs. Frustrated Users </li></ul>
  49. 49. ______________________ _____
  50. 50. <ul><li>It’s a tool to provide better service </li></ul><ul><li>It’s a Lead Generator </li></ul><ul><li>Advertisement Necessity </li></ul><ul><li>We only use 10% of our available software on our PCs </li></ul>
  51. 51. <ul><li>Don’t assume they prefer e-mail </li></ul><ul><li>Get a face to face meeting as soon as possible </li></ul><ul><li>Meet with Client when getting Documents Signed </li></ul><ul><li>Remember technology is a tool and not a replacement for YOU! </li></ul><ul><li>Be Patient </li></ul><ul><li>Use the PHONE </li></ul>
  52. 52. <ul><li>NAR Statistics (2006) On-Line Consumers </li></ul><ul><ul><li>38% are between 25-34 years of age </li></ul></ul><ul><ul><li>67% are Married </li></ul></ul><ul><ul><li>17% are Single Females </li></ul></ul><ul><ul><li>8% are Single Males </li></ul></ul><ul><ul><li>Median income is $70,700 per year </li></ul></ul>
  53. 53. What are they looking for? <ul><li>93% looked for Homes </li></ul><ul><li>21% Area Information </li></ul><ul><li>5% Real Estate Company </li></ul><ul><li>3% Real Estate Agent </li></ul>Webpages should be your electronic brochures and relocation packet* Webpages should not contain a log of movement…*
  54. 54.
  55. 55.
  56. 56.
  57. 57.
  58. 58. Cool Idea! – Camcorder Escort
  59. 59. <ul><li>Market Information </li></ul><ul><li>Limited Personal Information </li></ul><ul><li>No Degrading Comments </li></ul><ul><li>Avoid Extended Menus </li></ul><ul><li>Emotional Triggers </li></ul>
  60. 60.
  61. 61. <ul><li>Use easy to read fonts – like Ariel </li></ul><ul><li>Check for Spelling Errors </li></ul><ul><li>What are they looking for: </li></ul><ul><ul><li>What do you have to offer? </li></ul></ul><ul><ul><li>When is it available? </li></ul></ul><ul><ul><li>What are the terms? </li></ul></ul>NO CLIPART!
  62. 62.
  63. 63. Photos – what not to do! Using Bad Photos as a Marketing Tool?
  64. 64.
  65. 65. <ul><li>Brand new look...Same great information </li></ul><ul><li>Correct and up-to-date information is your most important weapon when you sell your home. That’s why Brooke Miller has updated the look of her award winning web site: </li></ul><ul><li> . </li></ul><ul><li>It has a great new look but it is still filled with the information you need. </li></ul><ul><li>Visit the “Communities” tab for her latest Neighborhood Market Reports. </li></ul><ul><li>Visit the “Properties” tab for recently listed and recently sold properties in your neighborhood. </li></ul><ul><li>Quickly and easily order one of Brooke’s Special Reports. </li></ul><ul><li>Easily contact Brooke via e-mail. </li></ul><ul><li>And so much more. </li></ul>
  66. 66.
  67. 67.
  68. 68.
  69. 69. <ul><li>Calendars </li></ul><ul><li>Magnets </li></ul><ul><ul><li>Sport Events </li></ul></ul><ul><ul><li>Calendars </li></ul></ul><ul><ul><li>Emergency Numbers </li></ul></ul><ul><li>Pocket Calendars </li></ul><ul><li>Canvas Tote Bags </li></ul><ul><li>Coffee Cups </li></ul><ul><li>Pens and Pencils </li></ul><ul><li>Note Pads </li></ul><ul><li>Frisbees </li></ul><ul><li>Bottle Openers </li></ul><ul><li>USB Thumb Drives </li></ul><ul><li>Coloring Books </li></ul><ul><li>Key Chains </li></ul><ul><li>Rules </li></ul><ul><li>Mouse Pads </li></ul><ul><li>Candy Jars </li></ul><ul><li>Flower Pots </li></ul><ul><li>Letter Openers </li></ul><ul><li>Jar Openers </li></ul><ul><li>Coolies for Drinks </li></ul><ul><li>Baseball Caps </li></ul><ul><li>T-Shirts </li></ul><ul><li>Day Timers </li></ul>Page 22
  70. 70. <ul><li>Lead Tracking </li></ul><ul><ul><li>Ask Clients “How did you find me?” </li></ul></ul><ul><li>Computer Software </li></ul><ul><ul><li>Outlook </li></ul></ul><ul><ul><li>Top Producer </li></ul></ul><ul><ul><li>ACT </li></ul></ul><ul><ul><li>Respond </li></ul></ul><ul><ul><li>More, more, more </li></ul></ul><ul><li>Consumers will complete an online response survey, if they trust the source.* </li></ul>
  71. 71. <ul><li>Return on Investment </li></ul><ul><ul><li>Long Term vs. Short Term </li></ul></ul><ul><ul><li>Market Specific Conditions </li></ul></ul><ul><ul><li>Maximizing Return </li></ul></ul><ul><ul><ul><li>Competition </li></ul></ul></ul><ul><ul><ul><li>Free Exposure </li></ul></ul></ul><ul><ul><ul><li>Cooperative Marketing </li></ul></ul></ul><ul><ul><li>Media Identification Systems </li></ul></ul>
  72. 72. <ul><li>Follow up on EVERY lead </li></ul><ul><ul><li>Establish a system to evaluate urgency </li></ul></ul><ul><ul><li>Constantly monitor each lead you generate </li></ul></ul><ul><ul><li>Re-evaluate on a regular basis </li></ul></ul><ul><ul><li>Concentrate on “A” Clients </li></ul></ul>
  73. 73. <ul><li>Refer to budget and make adjustments </li></ul><ul><li>Don’t be a “lone ranger” </li></ul><ul><li>Get help, as needed: </li></ul><ul><ul><li>Other agents in your office </li></ul></ul><ul><ul><li>Virtual Assistants </li></ul></ul><ul><ul><li>Industry Blogs </li></ul></ul><ul><ul><li>Past Clients </li></ul></ul><ul><ul><li>Others? </li></ul></ul><ul><li>Make sure you have current and accurate information and data </li></ul>
  74. 74.