Transcript Slide 1

8. Marketing Fundamentals
In this chapter:
> Know who the buyers are
> Build your personal brand
> Create your marketing plan
> Find the buyers and how buyers find you
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KNOW WHO THE BUYERS ARE
• Success of buyer’s representatives is
determined in large measure by how well
they understand who buyers are in their
respective markets
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KNOW WHO THE BUYERS ARE
First-time home buyers
Repeat home buyers
• Younger (median age
is 30)
• Older (median age is
48)
• Married
• Married
• Earn, on average,
$61,600 each year
• Earn more (median
annual income is
$88,100)
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KNOW WHO THE BUYERS ARE
In practice, however, there
are as many different types
of home buyers and buyer
motivations as there are
types of real estate and
real estate markets.
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BUILD YOUR BRAND
• Are you easy to remember?
• What is your real estate niche?
• Hobbies and interests?
• What makes you unique?
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BUILD YOUR BRAND
Dana Moos: B&Bs, food, and photography
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BUILD YOUR BRAND
JR Siewert: 3rd generation real estate company
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BUILD YOUR BRAND
Lisa Sutton: Pet-friendly real estate professional
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CREATE YOUR MARKETING PLAN
• Define objectives and
goals
• Target specific
audience
• Identify your point of
differentiation
• Refine your message
• Determine the best
media
• Create your action
plan and schedule
• Prepare a detailed
budget
• Measure your results
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FIND BUYERS & HOW BUYERS FIND YOU
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Your Web Site—More Than the
Cost of Doing Business
• Functional necessity
• First step for 1/3 of home buyers
was searching for properties online
• Some buyers may incubate for up
to 24 months before contacting
agent
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Additional Marketing Outreach Methods
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