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6 Rules of Marketing Any Listing

By
Mortgage and Lending with Infinity Financial Group

Rule #1: Buying Brain Cells

How do we buy brain cells?

Brain cells are bought in many different ways, whether it be through uniqueness or eliciting emotion. For instance, when you see television commercials that are humorous or that arouse empathy or drama, all of the various emotions elicited by these works buy brain cells. What becomes even more important, however, is repetitiveness. After all, potential home buyers need to hear about your home in order to determine whether to buy it. Hopefully, they will do so again and again and in multiple ways.

Rule #2: Identifying The Need (Pain)

The second rule we need to focus on is identifying and then solving the need of the individuals who are most likely to buy your home. The analogy I like to use is that everyone out there, in some capacity, is in pain. And, if you can be the solver of that pain, if you can be the aspirin that cures their pain, then you're going to be very successful in your marketing strategies.

So, where is the pain of potential home buyers right now?

Well, the candidates who are most likely to purchase your home are first-time home buyers. First-time home buyers, and home buyers in general really, are in a lot of pain for two main reasons. They have two big fears that are weighing on their minds. The first is,'Am I buying at the wrong time? Am I buying at the height of the market, and have I made a mistake?' We'll get into that psychology in a few moments. But we'll need to be mindful in our marketing that the timeliness of this purchase is important to these potential buyers; and we'll need to address this pain to the best of our ability to make sure that they are not fearful.

The second fear of our potential buyers is the payment shock of a new mortgage compared to their rent payments. Let's face it, most loan originators do not do an adequate job of educating the consumer on the after-tax benefits of buying a home.

If we understand and address these pains of the potential buyer in our marketing, we're going to go a long way towards being successful.

Rule #3: Providing Exclusive Information

The third Rule of Marketing, or the third area we'll need to address in our marketing campaign, is the concept of exclusive information. Now, we all know that the psychology of American consumers is that we like to have exclusive access to something that's special. I'm sure there's been someone who has proudly told you about the spectacular interest rate they got when they refinanced their home; a deal that they got, which was way better than any of their friends or family members were able to get. If we can create this kind of exclusivity in our marketing strategy, we're going to be very successful.

Rule #4: Getting a Good Deal

The fourth Rule of Marketing is based on the idea that everyone likes to feel that he or she is getting a good deal. It's likely that you're going to set an initial price on your home and then you'll be negotiated down simply because the buyer needs to feel like he or she has won and gotten a deal that exceeded their expectations. Honestly, it doesn't even really matter how much money is associated with the deal. I'm sure that there have been many instances in your life where you've felt that you've gotten a good deal; and it didn't even matter whether it was on a $5 or $500 purchase, you still felt great about it. As a rule, we need to keep that in mind in our marketing efforts.

Rule #5: Call To Action

The fifth Rule of Marketing is one that we see every day, in every type of marketing: creating a call to action through the perception of scarcity. This is why limited time offers are so successful. Auto dealerships are the best at this. They always have those exclusive summer clearance deals in which special-lease financing rates are advertised. Of course, you have to buy the car by August 31st  or else you don't get that special deal. Like the auto dealers, we also need to create a call to action to make sure that consumers act quickly and promptly when it comes to the purchase of your home.

Rule #6: Knowing The Buyers Mindset

Finally, the sixth Rule of Marketing - and this is the one that always gets overlooked even though it's probably the simplest and most basic of all the rules -  knowing the mindset of your prospective buyer. Who is this buyer? This, of course, goes back to the issue of identifying the need of the buyer and solving it - but do we really know who this person is in terms of their financial situation, what's going to ring true for them, or what's going to be important to them? We need to understand the mindset of the buyer going in. This will be essential to our success.

 

 

  

  

 

 

Comments (1)

Nalliah Thayabharan
Expert Building Inspections Ltd - Markham, ON
Home Inspector - Commercial Building Inspector Toronto

Hi   John !

Thanks for sharing this info with us. Keep posting !

Nalliah Thayabharan

Commercial and Residential Building Inspector

Expert Building Inspections Ltd

Jun 20, 2007 12:55 AM