Real Estate Marketing Plan
When looking at the marketing plan of a real estate brokerage business plan, funders want to see an understanding of how you will reach both of your key target groups: sellers and buyers. You need a strategy for both, and, if possible, these strategies should share as many elements as possible to keep marketing costs low.
Sellers
To reach current homeowners who are looking to sell, your firm's name must be on their minds, on their computer screens, or wherever they will go first when starting to research real estate firms to work with. Consider networking with homeowners associations, sponsoring community events, and advertisement in places your homeowners frequent so that they remain always aware of your company until the moment they are ready to sell.
Buyers
Real estate firms typically advertise to buyers with specific listings, but may also advertise their brand in general to entice potential buyers to consider the firm down the road when they are in the market. As buyers in your market may be moving from further away, don't just list your services locally. Make sure to advertise online under local keywords so that you can be found by buyers from across the country.
Shared Tactics
Referrals are an excellent source for both sellers and buyers for your business. Don't just write "we will seek referrals", however. Explain what you will do that will entice or encourage past clients, partners, and community members to refer leads to you, whether these are financial incentives of some kind or a reputation which can't be beat.
If the focus is on your reputation, your plan must discuss the means by which this reputation will be cultivated. Networking with mortgage brokers, for example, can help you find buyers, who often look to be pre-approved for a loan before they start their search, and with sellers who may have to discuss the implications of a sale with their mortgage broker as well.
Building mutually beneficial relationships with industry professionals like this can potentially be a cheaper and more reliable source for qualified leads in the long-term.
Sellers
To reach current homeowners who are looking to sell, your firm's name must be on their minds, on their computer screens, or wherever they will go first when starting to research real estate firms to work with. Consider networking with homeowners associations, sponsoring community events, and advertisement in places your homeowners frequent so that they remain always aware of your company until the moment they are ready to sell.
Buyers
Real estate firms typically advertise to buyers with specific listings, but may also advertise their brand in general to entice potential buyers to consider the firm down the road when they are in the market. As buyers in your market may be moving from further away, don't just list your services locally. Make sure to advertise online under local keywords so that you can be found by buyers from across the country.
Shared Tactics
Referrals are an excellent source for both sellers and buyers for your business. Don't just write "we will seek referrals", however. Explain what you will do that will entice or encourage past clients, partners, and community members to refer leads to you, whether these are financial incentives of some kind or a reputation which can't be beat.
If the focus is on your reputation, your plan must discuss the means by which this reputation will be cultivated. Networking with mortgage brokers, for example, can help you find buyers, who often look to be pre-approved for a loan before they start their search, and with sellers who may have to discuss the implications of a sale with their mortgage broker as well.
Building mutually beneficial relationships with industry professionals like this can potentially be a cheaper and more reliable source for qualified leads in the long-term.
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