Nearly every real estate transaction involves marketing and promotion. The promotional strategies licensed real estate professionals choose to select to market a property can greatly determine the amount of time it sits on the market. It can also influence price for which a property fetches (when representing the seller).
Market research is integral. Accurate market research and understanding client motivations help the most successful real estate professionals segment their market for the most effective target marketing opportunities.
Technology presents a major opportunity for real estate marketing. Technology is constantly evolving and the most astute professionals are seizing these opportunities. Customer relationship management systems, custom website design, utilizing the correct social media channels–constantly change the rules of the game.
There are several strategies in real estate marketing. Personal selling and relationship building by a licensed professional is central. This involves successfully prospecting, qualifying, and presenting and negotiation offers directly with clients.
Real estate overlaps multiple marketing disciplines. Both business to consumer (residential) and business-to-business (commercial) make up a large portion of the industry. Additionally, Luxury marketing, an area of marketing expertise – can play a role in selling high-end real estate.
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