REAL ESTATE MARKETING 101.

1.

INTRODUCTION TO REAL ESTATE MARKETING.

Real estate marketing is a marketing strategy that involves promoting the unique value of a property, land, farm etc to the general public to establish a brand, gain customers, increase sales & revenue by closing real estate transactions. And this can be achieve by gaining interest, winning the trust and confidence of the customer in your Real Estate venture. The ultimate aim of Real Estate marketing is also sales continuity and growth.

Marketing needs to be implemented in the Real Estate sector if you are a broker, investor, agent, or seller, as it is remarkably critical to the success of your business. Through marketing, you can offer services like property sales and management, leasing, renting, etc.

2.

BASIC TYPE OF REAL ESTATE PROPERTIES.

• Residential Properties.

• Uncompleted buildings

• Commercial Properties.

• Industrial Properties.

• Agricultural Properties.

• Mixed-Use Properties.

• State-Owned or Special Purpose Properties.

• Forest.

• Mining site.

This are the basic real estate properties that are subjected to marketing.

3.

WHY REAL ESTATE MARKETING.

The question should be why not real estate marketing? The present economy of Nigeria is really in bad shape business are folding up and people are losing their job, yet Nigeria high institution are producing more graduate every year, which have make the labour market very turgid, but yet the real estate industry is really striving, because there is massive urban encroachment which make buy and selling of property very lucrative and properties leasing and letting lucrative also. Yet people are leaving the city and their urban settlement to new site and bushes are fast turning into villages and villages into town, and town into cities, these and more factors makes real estate marketing a business or a sector of the economy that never dies, never fail and no how you join the sectors you will always make it out of it provided you are consistent and resilient.

Pick a job as a real estate marketer today and you will also see the joy in making people to be aware and be a property owner through you and you will see how fulfill you will be, seeing the joy in the faces of your customers when ever they see you. And they will look at you as God’s sent to them when the property appreciates or when they become a property owner.

Also there is always a market out there for you to make a good income for yourself because many people are out there not knowing that they are making enough to buy land and start building a house not until when you advertise you product to them, and give them a payment plan that suit their pocket and their income type and pattern.

Real estate marketers usually get paid in commission to it practitioner, therefore there is always a reward for hard working, because the more you work the more you earn.

4.

WHO CAN DO REAL ESTATE MARKETING.

Real estate marketing is virtually for everyone, regardless of your profession, if you are able to connect a buyer of a property to a seller you have definitely and literally market a property successfully. That means you have successfully close a deal, then you are entitled to a certain percentage of the deal.

So as a professional, artisan, fashionista, undergraduate, religious leader, transporter, job seeker, banker, market women and men etc. This is just to let us know that it is a job you can do both as full time job and as a part-time job which makes it suitable for everyone to earn full-time or passive income.

5.

REAL ESTATE MARKETERS STRATEGIES.

There are several strategies used by real estate Marketer to get leads to a particular property, and this depends on the type of Property you are marketing, for example the strategy use in marketing a residential property is quite different from that use in marketing a commercial property.

Before you can apply any strategy at all, you must have the skill to IDENTIFY THE TARGET MARKET, this skill set to that should come first before applying any marketing strategy. In short word NO WHO TO SELL TO BEFORE YOU THINK OF STRATEGY TO APPROACH THEM TO MARKET TO THEM. You wouldn’t want to market a filling station to someone who will need a piece of land from you.

So this are some of the strategy and how it been apply to achieve results.

• ONE ON ONE MARKETING.

This is conventional marketing Technic where by you engage a potential customer one on, for example it may be someone you know or not, but you know due to market research or intuition that he or she will need your market or that you can convince he or she to patronize you, due to the fact that you know he as the capability to do so, then you will take him or her one on one and do a rigorous advertising to the person.

Other strategy use under this method include reaching groups, family and friends of the person, provided you are able to build trust of the person, through him you can initiate group marketing to is colleagues, friend, and family through his recommendation.

• MARKETING TO CO-OPERATIVES.

This is a very good and promising strategy and it’s very effective for marketing piece of land and estates. Nigeria communities is full of one form of co-operatives society, associations, union and all sort, of which they always have loyal members that are always loyal to the course of there leader, been able to connect to their fold will definitely be a good catch for any real estate marketer.

This is how this work, if you are able to persuade the leader of the association or group, you will be given the opportunity to address the member on a faithfully meeting day, all you need is to get your act right, I mean be on top of your game, address them with all the juicy part of you offer and make them see millions of reason why they should patronize you market and why your product is outstanding, them you are good to go.

If you are able to convince just 20%of them, I will be telling you categorically that virtually all of them will eventually buy from your product.

• MARKETING TO RELIGIOUS. ORGANIZATION.

Many people wondering why pyramid schemes and network marketing sells well in churches and mosque? Or have you ever go o through a flyer from the popular drug marketing and networking company GNLD has mostly pastors in it testimonial, is because they rich wider audience more easily with ready made trust in man of God. So been able to infiltrate into the religious setup through the religious leader is one big opportunity too. If the man of God sees what you have he knows who and how to talk to his member and how to get you to talk to them and which may bring many folds of sales from their family and friends too.

This can also work on your religious place too depending on your own relationship in your religious environment.

• MARKETING IN OFFICES.

Like many marketing enthusiasm who market cloths, food stuff even smoked fish to banks and offices of co-operate organizations, property especially land is also a subject to this form of marketing, especially when you have a pay plan that so suit their mode of earning for example installmental payment that allow them to pay monthly after pay day.

• DISTRIBUTION OF FLYERS.

Also a conventional way of marketing. Flyer distribution as been a method of marketing that have work for many Business and have also work for real estate marketing, thou it may be hard to build trust with this strategy, but your appearance will go a long way in earning you some lead and the fact that you will be able to reach much more people at once is also an added advantage.

This is how this strategy works.

1. Go as a team.

2. Make sure you are on branded and uniform wears, such as branded face cap and Polo and the same colour of trousers or jean.

3. Make sure it a team of people you have train on the purpose of the promotion, and have very sound marketing skills

4. Approach with good manner, spend time to market to those whom you are able to get much attention from and also give them flyers.

5. Take excuses from those that didn’t give you attention but make sure they go away with your flyer.

Doing this if you are able to close just one deal for a day it will be ok for you and one good deal with one good customer may be all you need to be financially stable, because there are some customer that will even be a channel for multiple deal for you due to their influence in there immediate environment, through them you will close a multiple deal without striking a deal with them.

• MARKETING TO LABOUR UNION.

There are many companies, especially manufacturing companies that have labour Union in their company in form of co-operative society that goes along for their member in planning for their future, or due to long term working relationship they will encourage all their members to buy land in the same location and prefer to name that location as an estate of the company they work for or the name they gave their union. This set of people also buy land massively and they don’t owe the realtor for they have a name that they don’t want to go down with bad reputation.

• WHATSAPP MARKETING.

This happen to be the easiest way to market absolutely any product this days, while it can limit you to posting your advert to just your contact through broadcasting or Whatsapp status yet it can’t still be wish away, because it help you reach your potential leads within family, friend, friends friend and business associate to let them know that you are now into the new business.

Also you can reach more people through this means by telling you immediate contact to share to their contacts too.

You can effectively use the help of a well detailed online flyer, and be consistent with daily posting to keep remembering your potential customers.

• E-MAIL MARKETING.

Email marketing as proof to be the most effective when dealing with a very expensive commercial properties, examples are gas station (filling station), hotels, warehouse, office complex, mining site etc. This kind of properties can only be market to companies or business organization.

The procedure of this are.

1. Do a detail picture and video catalog of the property you want to market.

2. Shop for e-mails of companies that might be interested in the property you want to market.

3. Buy e-mail if necessary and also send to fellow realtor like you.

4. And send an e-mail in form of a news letter to the contacts and also follow up regularly for reply.

• SOCIAL MEDIA MARKETING.

Social media marketing as we all know deals with the use of social media mechanism to advertise your product or services, and it involves the use of Facebook, Twitter, Instagram etc. to show case your product, this kind of media allow you to rich a lot of potential customer, for example when you post in many facebook groups that increases your chance to reach as much people as possible, or you use the Facebook market place or you simply run a facebook paid add, that is when you will really see the value for your money.

The best way to approach this is the use of details online flyers, detailed picture and video of the property you want to advertise and a good caption. And you have to be very consistent and committed to it.

• NETWORKING WITH OTHER REAL ESTATE MARKETER.

I learnt with time that more big deal are close together than alone that is why it is very good to network oneself as a real estate market to other marketers far and wide, most time real estate market can be dynamic, what you have in your catalog may not be what your immediate customer needs, but may be available with other realtor marketers you can choose to do the deal together and have agreed sharing formula with your colleagues you have partner with for the success in the transactions. Because most time it is quite better to share profit with someone else than not been able to satisfy you customer.

This networking is always achieve through different forum, like whatsapp group, online forums, club and association that is set up purposely for real estate practitioner and marketer.

5.

REAL ESTATE MARKETING TIPS.

Here are some tips that is been used while engaging a potential customer, though this tip can varies depending on the kind of customer you are dealing with or the kind of property been advertise, but it quite good to say some quotes that will resonating in the mind of your customer even after you done engaging them.

Though at the time of marketing conversation with the customer it will seems like you are sugar coating your words, but if it is fact base, the person wouldn’t have reason not to pounder about it after you are long gone, and he or she will consider going back to your flyer, e-mail, ads or probably look for your contact to activate a deal with you.

1. “The best investment on Earth is Earth”, which simply means the best thing you can put your money on in the whole world and you are guarantee of return is land.

2. “The best time to buy a real estate is 5years ago'. This means that the maximum time for a real estate to return profit or appreciate is five years. Like a popular blogger and politician in Nigeria once said (Reno Omokri) if he regret anything in the last five year is the fact that he didn’t invest in real estate.

3. “Go to the site you are suppose to buy 5years ago and come back to us and change the narrative”. This explain more about the point in number 2. Because if you have been shown a piece of land 5years ago and you complain about the location or how rural the area is, if you go there now it will be selling for better price and also they would have been a remarkable level of development.

4. “Find out where people are going and buy the land before they get there”. In simple words this mean that when the city is becoming congested people tend to relocate to the nearest rural area which makes this places develop faster, so if you buy and handful portion of land there you will be able to resell for better price in the nearest future.

5. “Property as a commodity as nothing to do with foreign exchange”. This selling point simply means the general effect of foreign exchange fluctuation as no direct effect on the value of property, if you buy property be rest assure that you property continue gaining value with no effect from your country currency exchange rate value increasing or decreasing.

6.

QUALITY OF A GOOD REAL ESTATE MARKETER.

• Sound and blunt.

• Committed

• Patience.

• Consistent.

• Endurance.

• Resilience.

• Fast learner.

• Willingness to learn.

• Promptness.

• Reserve.

• Capacity building.

• Record and inventory keeper.

• Creative and innovative.

• Conceptual.

• Prudential.

• Aim higher and focus.

• Futuristic in thought.

• Willingness to be better.

• Set Target.

Etc.

7.

HOW TO START REAL ESTATE MARKETING.

To start real estate marketing you need to consider any of the options below as a way to start or even every of the option one after the other as you practice, but the first thing to start with is starting anyway any how while you get better as you go deeper in it.

Thou a good start has a lot to do with your future in the business as it can be a source of motivation for you as you progress.

You will need to consider first:

• GO FOR TRAINING, SEMINARS AND WORKSHOPS.

• TAKE A COURSE ON REAL ESTATE MARKETING.

• TAKE A JOB IN A REAL ESTATE FIRM.

• START AS AN ESTATE AGENT.

• START AS AFFLIATE MARKETER.

• START WITH PROPERTY LISTING.

8.

REWARD FOR REAL ESTATE MARKETING.

Real estate Marketer get paid mostly in commission, but they may be considerations of a monthly or a weekly stipend to enable your day to day run around or base on agreement as at the time you are receiving an appointment from your broker or taking brief from property owner or a principal real estate company.

This commission is always between 5% to 10%, which is on property been sold, while there is always a stipulated amount on rent that will be earmark as commission for agent and broker, though it may be dynamic sometimes, which may be a subject to the kind of contract or agreement between the broker from your principal real estate company.

CONCLUSION

In conclusion, a good realtor is fundamental to a successful real estate business. Whether buying or selling a property, looking for a good real estate agent with a good qualities and knowledgeable in real estate marketing skills, as got a lot to do in the success of your real estate investment