Real Estate Marketing: Now More Than Ever

By
Real Estate Agent with Keller Williams Realty

While enjoying a cup of Starbucks the other day, my colleague Mark Riesenberg of Human Resources Unlimited (www.hrugoals.com) and I were talking about growing one's business given the depressed housing market and the tremendous volatility in the stock market.  With my marketing background and current focus on Feng Shui Solutions for Realtors (www.SellYourListingsFaster.com), I thought you might be interested in my perspective.  So go ahead and grab your favorite beverage, read my views on the subject and let me know your thoughts.  And be sure to visit Mark's blog for his viewpoint on Thinking BIG: Focused & Organized- - - he is an extraordinary business coach!

 When the economy is growing and businesses are doing well, it is easier for us to attract new customers and grow our revenue base.  Businesses tend to "ride the wave" of prosperity that permeates the marketplace.  But in today's economic climate of financial uncertainty, both at the business and individual level, customers are thinking twice about spending their money on services and products.  Today's customers are much more selective.  So, now more than ever, savvy business owners recognize that they need to get focused about making their business be "relevant" to the changed needs of their customers.  Just as customers are "shifting to a new set of financial priorities", businesses need to respond and think smart about how they can deliver a service or product that is in alignment with these priorities.  For example, families are rethinking their "entertainment" budget and as a result, may choose to spend more time at home.  As "at-home" family time increases, companies may re-position themselves to provide products and services geared for the new "stay-at-home" family. 

 Now more than ever is the time for companies to strengthen their focus and market their business.  As some of your competitors take steps to cutback on their advertising expenses, their less visible presence creates the opportunity for your business to take center stage by thinking smart and staying in front of your customers. Now is the time to actively market your business and remind potential customers that they have a need which your company can meet.  And it is through marketing that customers realize that they even have a need.  Did consumers even know they needed an iphone, for example, until it was invented?

 Let's turn for a moment to residential real estate. As a home stager, I work closely with the real estate community in New Jersey.  Now more than ever, selling a home in today's housing market demands a strong marketing campaign, including home staging to showcase the home as being "best in class", as well as a healthy dose of realtor enthusiasm.  "Even in the Great Depression", according to one member of the North Central Jersey Association of Realtors who recently said to me, "people were still buying homes".    

 The opportunity is there for the astute realtor and other business professionals to think creatively.  Advertising generates revenue and revenue is precisely what companies need in an economic downturn.  So now more than ever is the time to re-evaluate your marketing efforts and target your advertising to the changing lifestyle, demographics, and financial circumstances of today's customers.  And for realtors, of course, this means an investment in home staging to generate that needed interest to get potential buyers in the door. The time is now, more than ever! 

Comments (6)

Lara O'Keefe
North Texas Home Finders - McKinney, TX

Suzy, your post is very relevant in today's market. It is more important than ever to market your products and services.

Also, welcome to Active Rain! You will get more readers if you also post in groups :-)

lmo

Nov 18, 2008 07:23 AM
Anonymous
scott gleason

So right Suzy, times of scarce business can be career building for early rising practitioners.

As a sometime user of your service, I know the efficacy of staging principles and when the inventory is fat it is the time, more than ever, to give every available edge to our listings.

Scott Gleason, CRS

Realtor Associate

RE/MAX Properties Unlimited

Scott@LuxuryHomesNJ.com

908-233-9292 Office

908-518-5456 Direct/Mobile

Nov 18, 2008 09:36 AM
#2
Suzy Minken
Keller Williams Realty - Short Hills, NJ
Your Win Win Realtor, Keller Williams Realty

Lara,

Thanks for stopping by my blog.  I'm glad to see that my article resonated with you.  I like your idea about posting in "groups".  I am new to blogging so not sure how to do that.  Any suggestions?

Suzy

Nov 22, 2008 01:07 AM
Suzy Minken
Keller Williams Realty - Short Hills, NJ
Your Win Win Realtor, Keller Williams Realty

Hi Scott - Good to hear from you again.  I wish more realtors, like yourself, understood the importance of staging the home.  In this difficult economy,  homeowners who need to sell their home need to listen to the advice of the realtor as to how to best showcase their home, which of course means hiring a professional home stager.  As you already know, staged homes sell more quickly than homes that have not been staged.  Staging puts more money back into the pocket of the realtor.

Suzy

 

Nov 22, 2008 01:16 AM
Juliet Johnson
Vizzitopia - St Johns, FL
Jacksonville Photography & Digital Marketing

Staging also staunches the flow of money away from teh realtor (who has marketing expenses) and the homeowner (who has operating and maintenance costs)... simply because a staged home sells faster than a non-staged home and arguably for more money.  Since all our stats are averages, not direct comparisons, I'm not sure we can really back up the for more money claim beyond what buyers say -- which is that 63% of all buyers say they will spend more money for a home in new condition.  Not that we have an attributable source on that quote either!! <grin>  D'you suppose we can say - Christine Rae says so! <chuckling>  Why not?

 

Welcome to AR; I'm glad you're in this game.

 

Will share about groups in an email.  Jj

Nov 25, 2008 10:34 AM
Suzy Minken
Keller Williams Realty - Short Hills, NJ
Your Win Win Realtor, Keller Williams Realty

Juliet,

Glad you visited my blog. Your point is well taken.  I don't believe there can truly be a direct comparison, such as a Coke vs. Pepsi blind fold taste test, between the staged and unstaged home.  However, it makes intuitive sense that the stage home would sell faster.  And with the advent of HGTV, surely thee would be widespread agreement on this!  And if disputed, well, let's just hold up Christine Rae's statistics!! lol

Have a great Thanksgiving!  And thanks again for your email about ActiveRain groups. And kudos to you for organizing a very successful Stage it Forward roundtable last week - - the energy of all the stagers together in one room was very powerful, and oh so much fun!

Suzy

 

Nov 26, 2008 10:15 AM