We have all heard the phrase “you have to spend money to make money”. That is especially true when it comes to selling real estate to ensure funds are not mis-directed when considering real estate marketing ideas.
This does not however mean that a huge investment is required to add some panache and marketability to the property successfully. In fact, many of your creative online/offline marketing ideas can easily be tested using trial and error first before committing to a full-fledged campaign.
A small budget will generally do just fine and is money well spent in today’s challenging market, especially in terms of marketing real estate online.
Any real estate marketing ideas you choose should emphasize price
Price is an important factor when developing a real estate marketing plan. A realtor can be an invaluable source to leverage here. In addition to experience, they bring an array of real estate marketing tools to the table such as mortgage calculators, qualification templates, and access to other property listings for comparison, and usually links to mortgage lenders and brokers.
The property should be competitively priced compared to recent property sales in the area of similar design, age, and square footage. Avoid over pricing the property because potential buyers will likely have to apply more toward the down payment, which may preclude them as buyers.
Working out a real estate marketing plan
Marketing plans should identify the target market by price and demographics. A customer-driven marketing approach, based on demand, is what you need. The multiple listing service (MLS) will get the property the most exposure in terms of prospects and other real estate agents, shopping for their clients. Signs and brochures are a must.
They allow potential buyers an opportunity to view the property close up and to get information such as price before arranging a showing with their realtor. Online real estate marketing is the norm these days. It can be set up by a real estate agent or in a “for sale by owner” scenario.
Online is easy and gets a property in front of potential clients along will all the pertinent information.
Tried and tested real estate marketing tools – The open house
Open houses are a great real estate marketing idea to generate interest and traffic in a property. Some real estate marketing ideas suggest things such as wine and cheese parties. These should be by invitation only, and the seller would be wise to be selective here.
This is one of the more popular restaurant marketing ideas for generating traffic/custom which, in terms of marketing your real estate, is what you’re really after. More traffic makes for more competition and more potential for a sale.
The last thing a seller wants to see is an unqualified prospect who is interested more in the wine and cheese than the property. Everyone knows someone like that, though we may be reluctant to admit it.
Implementing some creative real estate marketing ideas can be a lot of fun and entertaining. Everyone enjoys the aroma of fresh-baked goods floating throughout the home during a showing. In addition, an excuse to garnish that eating nook table with a colorful and lively bouquet is always appreciated.