Real Estate Marketing Technique: Dominance or Warfare By Lanard PerryEffective real estate marketing technique is the foundation of a good real estate marketing system. And the real estate marketing system contains a list of specific actions required to successfully implement a specific real estate marketing technique.
Here's an example of a real estate marketing technique that every agent and his and her uncle uses: "Offer a No Cost Obligation Competitive Marketing Analysis (CMA) to attract consumers.
Once you've established a relationship with the prospect you can then segue into your pitch to sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."
Specifically, you are angling for a "listing agreement", and if you get it you can then add on "seller" giveaways to make the listing more appealing to buyers and therefore easier to sell (seller agrees to pay discount points, offer home warranty plans, agree to sell-lease backs, etc.)
No, I'm not talking about under pricing it to sell it quickly, or anything else unethical. Instead, I am talking about having open and honest dialogue with your seller to determine what kinds of concessions he or she is willing to make to get their properties sold. It could be a new paint job, a new roof, the installation of new carpet and anything else imaginable.
It's important to realize that a real estate marketing technique is different than a tactic. While it is possible to have a tactical real estate marketing system without a sound, well-considered real estate marketing technique, it is rare to be able to develop one that withstands the test of time.
Some real estate marketing techniques are based on market dominance. In this scheme, agents are ranked based on their market share or dominance within their communities.
Still, other real estate marketing techniques are outright aggressive. They beg the questions whether you should grow your business or not, and if so, how fast.
Finally, other real estate marketing techniques are warfare based strategies. Ever hear of Guerilla Marketing? Well, that's where the term comes from.
Using technique that you are comfortable with, that is more in keeping with your personality is recommended, because when the going gets tough you are so likely to abandon it. I'm starting to use the term more frequently these days, but only because it's true; slow and steady wins a lot of races, and when you implement your real estate marketing techniques and strategies know that although the going may be slow initially, while you'll eventually reap the benefits of your efforts.
Summarily, effective real estate marketing technique is the foundation of a good real estate marketing system, which is key to your short, intermediate and long term success.
May your real estate career be long and rewarding