Real Estate Marketing Glossary
Definition: Real Estate Marketing
Within the context of real estate agents, real estate marketing can be defined as follows:
Marketing conducted by a real estate agent in order to increase awareness of his or her services, increase referrals from past clients, and attract business from new clients. An agent engages in real estate marketing to generate qualified leads that can be converted into actual clients.
Marketing the Intangible
Real estate is a service-related business. So the marketing strategy that a real estate agent employs must differ from the marketing strategy used with a tangible product. However, the same psychology is at work in real estate marketing as with any other form of marketing. The only difference is that real estate agents must market their intangible talents and traits, such as trustworthiness, skill, Internet savvy, and past record of success.
Being Direct in Your Marketing
Real estate marketing has changed a lot over the years. Many of the tactics that used to work well fall short in the modern world. For instance, the real estate postcard can still be effective as it has been for decades, but modern techniques must be employed. In this age of information accessibility, a real estate agent must do more than simply make his or her presence known. The agent must seek to generate some from of response from the prospective client, and then follow up on that response to initiate a relationship.
If you'd like to learn more about the various parts of real estate marketing, check out the Knowledge Center, or visit the author's real estate blog.
Related term: Realtor Marketing
