Fundamentals in Real Estate Series Part - 2

Pranav PandyaFranchise Development Manager

RE/MAX Mumbai Gujarat Maharashtra

Marketing

Subtitle

RE/MAX Mumbai Gujarat Maharashtra

Agenda

Needs and wants of consumers are changing The brand Marketing a service Building relationships Marketing rules Personal promotion Specialize Elements for your marketing plan Tips for online marketing success Social media marketing Writing property ads

Needs and Wants of Customers are Changing

RE/MAX Mumbai Gujarat Maharashtra

Internet and Technologies

Importance of Referrals

Have a brand

The Brand

RE/MAX Mumbai Gujarat Maharashtra

Identifies what service you represent

Differentiates from competition

Establishes your credibility

It “pre-sells” you

Think of yourself as an ambassador of the RE/MAX brand.

Marketing a service

RE/MAX Mumbai Gujarat Maharashtra

When developing your marketing plan:

Inventory

Services are intangible Consumers evaluate you based on what they can see.

Dress for success

The Anchoring Principal

Familiarity breeds business

Brand name

RE/MAX Mumbai Gujarat Maharashtra

Services are inconsistent

To be consistent you must have systems

Services are inseparable Goods are produced, then sold, then consumed. Services are sold, then produced and consumed at the same

time.

Capacity management

Services are perishable

Building Relationships

RE/MAX Mumbai Gujarat Maharashtra

Superior expertise is not critical to success in services

Enthusiasm beats out ability

Service doesn’t sell houses – price does!

Promote Your Success

Remember, out of sight is out of mind.

Marketing Rules

RE/MAX Mumbai Gujarat Maharashtra

Basic Rules

1. You cannot market effectively without marketing research

2. Consider how marketing interacts with other parts of your business

3. The antithesis factor

4. Combine the interaction of three basic concepts

5. Steal ideas from other businesses

6. Be able to answer the question “Why should I choose you?”

RE/MAX Mumbai Gujarat Maharashtra

7. There are no magic answers leading to bigger production

8. You should also think about things you can offer to your customer as part of your marketing and something you can become known for.

9. Any good marketing piece is better if it is specialized

10.Market yourself to RE/MAX Sales Associates

11.Develop a lead generating website

RE/MAX Mumbai Gujarat Maharashtra

12. Your image is everything - Don’t settle for second best

13. For every Rs.1.00 spent on promotion you must get back Rs.4.00

14.To increase the amount of marketing you can do, co-op your advertising

15.Get a second opinion - Ask your Broker or Manager.

16.Cause Marketing

Personal Promotion

RE/MAX Mumbai Gujarat Maharashtra

Be business person rather than being a real estate salesperson

Repeat and referral business

Some effective forms Brochures Print advertising

RE/MAX Mumbai Gujarat Maharashtra

Promotional items Online campaign (blog, website, social media, and forums) Magnetic car signs

Visit RE/MAX Mainstreet for hundreds of personal promotion ideas

Specialize

RE/MAX Mumbai Gujarat Maharashtra

Narrow your target

If you specialize, be sure to tell consumers in your marketing

Elements for your marketing plan

RE/MAX Mumbai Gujarat Maharashtra

Publish a blog post twice per week.

Update website twice per month.

Knock on 50 doors per week.

Distribute 25 business cards per week.

Send e-mail to the sphere of influence every month.

Hold a holiday appreciation party every first week of December.

Select a specific customer segment and focus on the segment.

Be either the big fish in a little pond or create a niche and own the pond.

RE/MAX Mumbai Gujarat Maharashtra

Work only with exclusive listing agreements.

Have the business card that stands out the most.

Yard signs with your photo.

Identify yourself with “5 Star Service.”

Identify yourself as “Each Sale is an Artwork.”

Community involvement.

Public relations campaign.

Sponsorship of sports events or a team.

RE/MAX Mumbai Gujarat Maharashtra

Testimonials from past clients.

Become known for your certifications and courses.

Be the Associate that provides better market statistics.

Have the best listing presentation.

Frequent Open Houses in all of your listings.

RE/MAX Mumbai Gujarat Maharashtra

Present seminars for buyers and/or sellers.

Write a real estate column in your newsletters.. …. ..

Publish innovative classified ads.

Print ads in newspapers and magazines.

Postcard campaign to sphere of influence.

Send out monthly newsletter to your neighborhood.

Promotional items (specialty items).

RE/MAX Mumbai Gujarat Maharashtra

PRICE

HEADING

CALL TO ACTION

TRACK RESULTS

MAILERS & SIGNS

BUSINESS CARDS

Remember – Great marketing separates the great Sales Associate

from the rest! Get the marketing right and success will follow

THANK YOU