Tips for an Effective Real Estate Marketing Plan for Sellers
Selling real estate is a big business. You want to be able to get the most out of the sale, which means finding the right buyer who is ready, willing and able to pay the purchase price. It doesn’t come without effort, of course – you have to put in the time and resources to market the property. Here’s what you need to know about what real estate marketing entails plus five great tips for creating your own real estate marketing plan from a seller’s perspective.
Today’s real estate market is incredibly crowded. This makes it difficult to make your own voice heard among the masses – and it means your property listing can easily be overlooked as there are so many other properties available! In other words, you need to take a smart approach to marketing your property. You can’t do this without a plan.
There are five crucial elements in any real estate marketing plan for sellers. Not having one is like shooting yourself in the foot; research shows that using a marketing plan template can increase website traffic by 50% in a year. But that’s only if you understand these five components. Let’s look at each in order.
- Pictures
A picture will always be worth a thousand words. This is even more important today because the first time a potential buyer sees your property will be online on an MLS listing site, and great photos can really sell a home. In fact, 92% of home buyers rely on the internet to begin their home search.
- Videos
If the photos are good, the videos are even better. A static photo might showcase a single room, but a video is very effective because of its ability to provide a more complete experience for house hunters. Recording video as you walk through a property allows you to showcase interesting architectural details, share information about fixtures, and provide context about the local community.
- Establish a budget
Budgeting is essential for success. Successful marketing often requires an investment of resources, so be sure to invest wisely so that your return on investment is worth it when the property sells. Choose cost-effective marketing methods that won’t eat away too much at your profit margin for the best results.
- Decide on a target market
Knowing your audience is the key to marketing. If your property is in a desirable school district, your best bet is to target families with school-aged children for the best results. Meanwhile, if your property is a modest property, targeting demographics that include house hunters looking for starter homes or retirees looking to downsize will be beneficial.
- Create Goals
Part of an effective real estate marketing plan is creating goals that you can pursue. These goals should be realistic, achievable and progressive. Thus, the achievement of an initial objective opens the way to the achievement of another, and so on. Smart goals to set for real estate marketing include taking photos, building an MLS listing with those photos, marketing that listing through social media, and supporting that listing through content posts. additional such as videos.
Determine what content to create
Speaking of content, it’s essential to understand that today’s online marketing heavily involves the creation and promotion of content designed to draw positive attention to your property. Photos, videos, and blog content are all great content choices. Blogs are particularly useful because you can position your content in preparation for an MLS listing launch; as you can create a posting long before the property is listed, you have the opportunity to build a strong online presence waiting for anyone looking for what you are selling.
Real estate marketing plans that use online spaces can generate a massive increase in leads – up to 33% per quarter, according to a recent study. Here’s how to create and execute your marketing plan and measure the results of your plan.
Creation of your marketing plan
Never just “steal” when it comes to marketing. Create systematic approaches, as this will help you assess the timing of the different elements of your plan and when they need to be ready. For example, you should start your social media marketing efforts a little before your MLS ad goes live to build your brand authority so your audience is receptive to your subsequent marketing efforts.
Executing your marketing plan
Stick to a strict schedule when implementing the different stages of your marketing plan. Keep your activities timely and relevant, but balance that against oversaturation. Too much of a good thing can have negative impacts that could lower your chances of success!
Measure your results
With most online real estate marketing plans involving social media, it’s easy to measure your results. Check your engagement levels on your posts and other content; if they tend to increase over time, you are doing something right. If they’re largely ignored or interest wanes, it’s time to try another method.
The real estate market is ultra-competitive. Finding the right buyer for a property is a major task, but one that can be made infinitely easier by creating a real estate marketing plan to sell that property. Be sure to follow each of the five tips discussed above and your marketing efforts will have a much better chance of success than they otherwise would!
