Home > Marketing > What are the best ways to market real estate?

What are the best ways to market real estate?

For regular residential homes what are the best ways to market the property? - by Thomas
For regular residential homes what are the best ways to market the property?
Sell the other agents in the area on the home so that they will sell it to their customers. - by Houston
Sell the other agents in the area on the home so that they will sell it to their customers.
Yes, if you have a quality listing then getting the word out to the top producers in your area for your type of property is a smart way to promote a listing. - by AZBroker
What are the best ways to do this? - by Thomas
What are the best ways to do this?
Most agents turn to the local multiple listing service when they are need of inventory. Many top agents set up alerts so that the MLS system notifies them by email when a new listing enters the system that fits whatever profile they have entered.

Other ideas:
  • Broker Open House
  • Agent Caravan Tours
  • Niche Networking
  • Contact: in-person, telephone, mail, email
- by AZBroker
Agents, Internet, and Signs are the three major avenues for promoting real estate. Here are a few ideas:

Internet
  • Realtor.com
  • National MLS websites
  • Company website
  • Agent website
  • Niche websites
Signs
  • Capture Attention (quality, color, graphics, etc.)
  • Clear marketing message (We fix $7 haircuts)
  • Direct response mechanism (Free Info by phone, fax, etc.)
  • Contact info (email, cell, office, website)
  • Property info (quality flyer WITH photos)
- by AZBroker
Excellent ideas and examples AZ. ;wi - by SalesGuy
Excellent ideas and examples AZ. ;wi
Thanks SalesGuy! ;bg

In addition to "promotion", "price" and "product" are important elements of marketing... real estate or otherwise. - by AZBroker
That's all there is to it? :re ;bg

What about newspaper ads, just listed postcards, and open houses? - by Thomas
What about newspaper ads, just listed postcards, and open houses?
This is an overview of the results published in the National Association of Realtors® 2005 "Profile of Home Buyers and Sellers" when home buyers were asked where they first learned about the home they purchased:
  • 36% Real Estate Agents
  • 24% Internet
  • 15% Yard Signs
  • 7% Friend, Neighbor, Relative
  • 7% The Builder
  • 5% Newspaper Advertisement
  • 3% Knew the Seller
  • 1% Home Book/Magazine
- by AZBroker
Your overview didn't list numbers for open houses or just listed postcards. :( - by Thomas
Your overview didn't list numbers for open houses or just listed postcards. :(
I did not see any numbers for Open Houses or Just Listed postcards in the report I read.

My opinion is that Open Houses and Just Listed postcards are great for getting the word out to the neighbors in case they or someone they know is looking for a home in that neighborhood. - by AZBroker
My opinion is that Open Houses and Just Listed postcards are great for getting the word out to the neighbors in case they or someone they know is looking for a home in that neighborhood.
Would you do open houses or postcards? - by Thomas
Would you do open houses or postcards?
It depends. For listings in a neighborhood where I want to gain/maintain a presence open houses and just listed/just sold postcards would be an option. - by AZBroker
Your advice has been very helpful AZbroker. Thank you. ;sm - by Thomas
Your advice has been very helpful AZbroker. Thank you. ;sm
You're welcome. ;wi - by AZBroker
My opinion is that Open Houses and Just Listed postcards are great for getting the word out to the neighbors in case they or someone they know is looking for a home in that neighborhood.
Ah! Well that answers one of my questions then. I'd been wondering why I keep getting just listed cards when I already bought my dream home fairly recently. I hadn't thought of the "spreading the word" aspect... I just knew that as much as I'd love to do it, I'm not quite ready to buy up the whole neighborhood yet. ;sm - by destiny
Ah! Well that answers one of my questions then. I'd been wondering why I keep getting just listed cards when I already bought my dream home fairly recently. I hadn't thought of the "spreading the word" aspect... I just knew that as much as I'd love to do it, I'm not quite ready to buy up the whole neighborhood yet. ;sm
Maybe there is something to be learned there for real estate agents. If you didn't get the impression from the mail piece that the agent wanted you to remember them and/or "spread the word" to others you knew who might be thinking about buying or selling in the area then chances are good others who received the mail didn't either. - by Houston
If you didn't get the impression from the mail piece that the agent wanted you to remember them and/or "spread the word" to others you knew who might be thinking about buying or selling in the area then chances are good others who received the mail didn't either.
Every postcard I can remember getting from a realtor had no clear message unless "Hey I just sold a home" is the message. The conversion ratios for these have to be horrendous. I'm sure many realtors sending these poor advertisements have stopped because they thought direct mail doesn't work instead of seeing first if they were the problem. - by Jolly Roger
Every postcard I can remember getting from a realtor had no clear message unless "Hey I just sold a home" is the message. The conversion ratios for these have to be horrendous. I'm sure many realtors sending these poor advertisements have stopped because they thought direct mail doesn't work instead of seeing first if they were the problem.
Don't get me started! ;bg - by AZBroker
1% Home Book/Magazine
One out of hundred buyers? That sounds really low. ;om - by realtor
I live in England, if I came to the USA for a vacation could I work for 14 days finding real estate listings for a broker. If I did this for him would he be allowed to pay me a share of the commission ,or a finders fee. I would be unlicensed.

I understand in the USA the gross commission is 6%, this is split 4 ways, could someone tell me what does the lister / finder normally receive. Could I take an Option to buy properties and sell the Option to a broker or investor. Top listers/ what do they need to produce in sales to get the honorary title King Pin.

Does anyone know any good RE books to read, I will do a Google Search for mock real estate exams to see whats required and what elementary groundwork I need.

A strange sort of question: Lets say I do this, what would be the best type of properties to concentrate on. I can't see much point in bringing in a number of D.-E. properties [low cost / blue collar homes] when AAa-AAb [qualty / professionals homes] sell quicker and pay out faster, or is this incorrect thinking. Do some agents refuse to touch low-cost properties, considering its beneath their dignity. We have that situation here [Bob] - by Incidentally
I live in England, if I came to the USA for a vacation could I work for 14 days finding real estate listings for a broker. If I did this for him would he be allowed to pay me a share of the commission ,or a finders fee. I would be unlicensed.
In the USA you have to be licensed if you engage in the activities of a real estate agent in addition Brokers are prohibited from paying (commissions, referral fees, etc.) unlicensed agents for these licensed activities.

I understand in the USA the gross commission is 6%, this is split 4 ways, could someone tell me what does the lister / finder normally receive.
There are two sides to every real estate transaction. The Buyer's side and the Seller's side. It is not uncommon to see a 50/50 commission split. Using the example of 6% this means 3% would be paid to the Buyer's Broker and 3% would be paid to the Seller's Broker. How much the Broker pays each Agent per side varies and is usually outlined in an employment agreement.

Top listers/ what do they need to produce in sales to get the honorary title King Pin.
I haven't heard of anyone getting the title of King Pen - in real estate. The term Top Producer is thrown around a lot and the volume required varies from location to location.

Does anyone know any good RE books to read, I will do a Google Search for mock real estate exams to see whats required and what elementary groundwork I need.
The best real estate book I've found is called "List More, Sell More" by Jerry Bresser. I think you would appreciate his style.

A strange sort of question: Lets say I do this, what would be the best type of properties to concentrate on. I can't see much point in bringing in a number of D.-E. properties [low cost / blue collar homes] when AAa-AAb [qualty / professionals homes] sell quicker and pay out faster, or is this incorrect thinking.
This is going to depend on your market but you've got the right idea... supply and demand.

Do some agents refuse to touch low-cost properties, considering its beneath their dignity. We have that situation here.
Absolutely. A good example is mobile homes on land. - by AZBroker
Bob I would be very interested in hearing your ideas on how you would go about getting listings. - by AZBroker
Finding new Listings: My one word explanation is: HUSTLE.

This would be a new territory for me situation, my modus operandi would be to simply knock on doors and say to who ever answers something as simple and zany as this; "Is it TRUE you are thinking of putting this house on the market shortly, and your thinking of moving, and> [then stop on the word AND] just stare at him / her, as if you have forgotten what to say next, by my reckoning you've said enough, now its there turn to speak and the information wanted should come flowing out".

I knock on doors, walk in shops and speak to the staff, enter restaurants, speak to passersby, pull strangers up, talk to someone sat in his car, men or women sitting on a park bench, dive into groups of 3 /6 people, in short I'm a quizzer. A quizzer is an English word for someones who's trying to find an answer to a general question. The question is ARE YOU MOVING, OR THINKING OF SELLING, I learnt years ago no one ever said stick to doors. My father used to pull people up and ask did they know were John Henry Street was, they didn't because it did NOT EXIST. After one minute of useless conversation in which he appeared to be pleasant and lost, he would say;" Look do you want this carpet, I am sick to death of carrying it". I don't do this, its unethical, but I would bet you my father would find more LEADS AND LISTINGS, than lets say any three of your conventional staff and who use normal methods of contact and approaches. This is sales UK style, it might not suit less delicate people. Thank You for your well wriiten and appreciated responses. Thank You. - by Incidentally
AZBROKER AND OF COURSE ALL OTHER FRIENDS ON THIS FORUM:

I took your advice and did a search for RE Information, I found another forum similar to this and with great respect to the posters who had written in; they appeared to me to be hobbyists. There was about 35-45 topics dealing solely with joining a lead referral system and many of these hobbyists had received zilch.

I found it amusing insofar as these partimers sales people intended selling another persons property for them, which is quite a serious undertaking in itself, yet they were unable to sell themselves in order to get leads, nor appeared to have the energy, or inclination to find their own leads. In short they were not willing to put themselves out in order to seek instructions. The impression I got was yes I will do it- when I've got time and "WHEN are you going to make me rich". The staff t/o must be incredible in USA Real Estate Offices. Today I passed sometime reading up on Goldman Sachs, the NY Bank, its should be required reading for all ambitious people. I also wrote down these slogans [old habits die hard] so may I share them with you all:
We did not come here to finish second.

Something well bought is half sold",

'Our client's interests always come first.

I used to have hand written exercise books full of this stuff, it kept me going - but did it do any good?

- by Incidentally
This would be a new territory for me situation, my modus operandi would be to simply knock on doors and say to who ever answers something as simple and zany as this; "Is it TRUE you are thinking of putting this house on the market shortly, and your thinking of moving, and> [then stop on the word AND] just stare at him / her, as if you have forgotten what to say next, by my reckoning you've said enough, now its there turn to speak and the information wanted should come flowing out".
Would you knock on everyone's door or just the for sale by owners? - by Thomas
Would you knock on everyone's door or just the for sale by owners?
Why cold canvassing? Wouldn't telephone prospecting be a more efficient use of your time? - by Liberty
I would knock every door not sporting a current RE for sale sign.
I carry with me a simple call sheet on a clipboard, its in [MS word] printed blocks, squares and columns, at the top it shows the Zip code, the date, time, the street name, area, milege, expenses.
My knocking code is:
O X C/BK APPT ORDER [these mean]
out x-no Call / bk Appt/&time sign up

At the bottom I total up daily . Sample figures are:
O X C/BK APPT ORDERS [TOTAL CALLS]
91 43 8 5 7 154

A call back expressed some interest, but not a strong lead.
Appoinment this is someone who expressed STRONG interest.
So I ended the day with 7 orders, 5 good leads, and 8 poor leads.

TELEPHONE USAGE: The problem here is no matter what you say its going to be brief, sound as if you are selling something, and its so easy to say no thank you and terminate the call. With door to door you have facial, voice, eye contact, manner/isms, and unspoken / apparent APPEAL, your always someone to speak to, to exchange pleasantries, admittedly you need to pass the 5 second YES -HE'S ok test, but if you cannot do this you should not be in sales. Your not paying phone bills, hiring a TEL caller and can assess the quality of the person/s [prospects] and leads obtained yourself. Not only that if you are good, you can easily turn a 3*** lead into a 7******* lead. Admittedly you end up with about 50 leads per week, thats 50 leads involving call backs and sorting them out, this is your STRENGTH / or failure. Bob - by Incidentally
Bob it reads like you aren't targetting your prospects that you're calling on anyone and everyone. Am I reading that correct or do you use some way of filtering the leads? - by Liberty
Your correct, my attitude is keep hitting the doors, the more doors you knock and the more people you speak to the better. Its high numbers I'm interested in. Knocking 200 doors in one day is quite easy, sometimes have done leaflet drops, I have done 1000- 1300 leaflets many a time in one day, my best day was 1850 leaflets, I was knocked out with the effort. Leaflets does not beat, nor compare to door knocking. And the return is so dissapointing with leaflets. In fact leaflets are a waste of time.

I avoid certain properties and poor areas, e.g. semi-derelict homes and neighbourhoods, apartment blocks altogether, especially those in low income neighbourhoods and trailer sites. You need to bear in mind that a lot of the goods I have sold, are not delivered until the client is credit checked, vetted and approved. With the last 2 decades growth in computer usage, the passing credit checks is getting tough. No delivery because of bad credit means no commission. I target better class people - by knocking better class homes. - by Incidentally
Bob do you ever circle back after a period of time and run the same houses with a similar offer? - by Liberty
Liberty: Asks about recalling the same area or street.

This is were your professionalism shows, occasionally you hit a good area, your pleased with the 1st pass results, you will see from the above these figures> 91 43 8 5 7 154

I had 91 outs, the sales rate was passable, so you figure that amongst your outs there must be sitting there another 30 orders at least, so you do your outs either that evening or at the weekend. If you keep knock sheets what you have identified is those people who are at work, and you need to call back to catch them in. When I do call backs and appointments I knock the outs adjacent to these calls. Here's a good script:

Good Evening, we called to day to see you and you were not home, our VAN is in this street next week delivering XYZ to your neighbours, would you like our VAN DRIVER to drop you in some details, or FOR HIM to show you samples of our Prestige Gold Chrome Model? [note you said Van Driver and not yourslef][the answer is invariably Yes - you see they are not interested and want rid off you] if they say yes and do seem interested, YOU THEN SWITCH THEM and step inside and start going into your sales pitch, so as to save your colleague the van driver having to do it. This can be a deadly / highly effective way of selling, the van is in your street and??????????????????? you must act now in order to catch him . My fee for this sales-tip is $500, please pay at the check out and thank you for your custom. - by Incidentally
I have just re-read all the posts, some of you talk about targeting prospects - but is this possible. You can target groups, gym club members, factories, you can zero in on certain trade association members, you can offer retirees a 10% discount, offer to make a donation to their favourite charity, but its all tired- news, the propsects say to themselves; I've heard it all before news. So if your like me you knock doors, you canvass everyone, and lets be honest 20 houseowners are just the same as 20 tennis players, 20 dog lovers, or 20 campers. The thing with doors is there is millions of them, each corner produces another 1000 propsects staring you in the face. The only thing that beats it is supermarket doorways, they pass you in droves, 1000S of potential buyers and they all belong to you. My brother was doing sub-way stations in London, wall to wall people as far as the eye can see. $1000 dollars a day profit and finished at 4 pm. Hustle beats bustle you might say. - by Incidentally
I have just re-read all the posts, some of you talk about targeting prospects - but is this possible.
What posts are you talking about Bob? Also, do you subscribe to the idea of an ideal prospect profile?

The only thing that beats it is supermarket doorways, they pass you in droves, 1000S of potential buyers and they all belong to you.
A common practice here in the West is real estate kiosks in shopping malls. ;wi - by AZBroker
Weekly Updates!
Questions and Answers about Selling
Subscribe to our mailing list to get threads and posts sent to your email address weekly - Free of Charge.