Coming up with a marketing plan for real estate properties is no doubt, the most important process you need to do. Without an effective marketing plan, you can never sell a home which means your real estate business can go down. To help you understand what a marketing plan is, this article is made to guide you.
Before you can come up with a plan, you must first be able to come up with a business plan because it is the foundation of your marketing plan if you fail to come up with a business plan. What you have for your business is usually vague missions and goals and it says that you have a little understanding of what you are up to. In this case, how are you going to improve your real estate business?
Importance of this plan
Nearly 90% of people who are searching for anything related to real estate rely on the internet. This alone gives you something that you can put into your marketing plan. That is using the internet to expose your business to a larger audience. What you have to do is to implement an effective online real estate marketing plan that generates more volumes of qualified leads on a consistent basis.
The next part of this article is the 4 steps to make a marketing plan, but before I go there, I'd like to give you a tip when writing your own plan. And that tip is to write your plan and re-write it many times until you have a clear, concise document that truly represents your business. This process is time-consuming, but I assure you in the end, it will be all worth it!
1. Market analysis. These are various pieces that need to be considered as you are researching which market to focus on or simply what we called the process of identifying your niche.
- This step requires you to inspect the home and identify the most important features and upgrades (if there's any) of the home.
- Search for homes same with yours so that you can have an idea of how much your home is worth.
- Estimate the selling costs to determine your profit.
- Find a listing.
2. Marketing budget and strategies.
- You need to identify how much you will be willing to spend on your marketing so you will know what strategies you can afford. In doing this, be sure to be realistic. Knowing how much really you are willing to spend will help you identify and get the tools and tactics you can use.
3. The offers and delivers step
- After you have identified which market you will focus on, implement an online business place i.e. online listings. Some listing will provide your visitors with quality content and then provide them your contact information such as your email address and business website. This is also known as E-marketing plan.
4. Evaluation and control
- Evaluating your marketing plan's success is no doubt needed. Evaluating it will let you be aware of what to do or not to do in your next marketing plan. This will help you identify if your strategies and tactics are effective.