The real estate market tends to be segmented into two distinct categories: buyers and sellers. From there, it is usually segmented into categories such as 'first-time buyer' or 'real estate investor'. These segments help focus promotion so that communication is delivered in a concentrated form to the people who are
Once a consumer has identified a need or a want they begin the next step, which is research. It has two components: internal and external information seeking. Internal sources of information are retrieved from past experiences (good and bad), personal knowledge regarding the purchase, and intuition. External sources include
The goal of any good promoter or sales representative is to persuade the consumer to choose their product or service. In real estate, this means getting home owners to list their property and to influence home buyers to shop at your 'store'. The purchase is just one component at
Promotional management requires a good understanding of the various moving parts in a promotional plan. When the promotional mix presents messaging to the right people with the right message, a campaign is considered a success. A real estate promoter needs to carefully consider what goes into the mix and
The Internet has become the de facto standard for reaching customers as online advertising is now more relevant to real estate promoters than print. Over time, more ad dollars have been allocated to search engine and social media ads. In the future, marketing online will become simpler and more
There are four basic markets a real estate sales representative may wish to advertise into. These are consumers, businesses, professionals, and the trade. Each group requires a slightly different campaign but all campaigns can be centred on a fundamental promotional message. This allows maximum return on investment when designing
The literal definition of marketing is about finding a market and then creating something to sell within it. The marketing mix is about the “4 P's” of price, promotion, product, and placement. With the exception of promotion, these factors are difficult for a sales representative to control. Unless an