Real estate marketing is more important than ever. If the past couple years aren’t a good enough indicator, real estate has been in a sorry state of affairs. Foreclosures and falling prices have been happening everywhere and many think we haven’t seen the end. And although the sting has been felt across all sectors and demographics, the luxury real estate market hasn’t been affected as badly. Why? Because most of the wealthy out there are pretty smart about these economic downturns; they realize it’s a natural occurrence that happens cyclically. Many of them have been savvy enough to put their money in other investments, others are holding for the long term and realize we’ll come out of this recessionary period at some point. But if you are a luxury condo or home developer you still need to market your property, more so in today’s economic climate. It’s a buyer’s market after all. The wealthy have choices – more now than ever. And if you’ve had past success in selling out your properties, you may think it will be just as easy this time around. Guess again. Why is it so important to market your real estate? Let’s get into it.The first reason why real estate marketing and promoting your development are so important is because your prospects expect it. Imagine for a second if you had no brochures, flyers, website or direct mail offers. Where would that leave you? Of course, no professional developer anywhere is going to make that mistake. The point is this: it’s not just important to have this marketing collateral, but to ensure that it’s attractive, compelling and gets your prospects to take action. Be sure to review it to make sure it does. Look at your competitor’s collateral. Your future clients expect to see these materials and – to be sold to.The next reason (that we mentioned briefly above) is the ultra competitive marketplace. There are beautiful developments competing directly with yours in gorgeous places like the Caribbean, Mexico and Hawaii. How does yours stack up? Real estate marketing – smart property marketing – is absolutely critical when you are faced with fifty other properties just as incredible as yours. What is smart marketing? It’s doing the research, outsourcing to the best firms, using online marketing techniques to the max and generally approaching the entire campaign like its warfare. You have some very smart minds out there doing the same things you are. It’s your job to get to the buyers before they do. With the right mindset and your arsenal of marketing tools, it can be done.The other reasons:
You want your buyers to pay top dollar – better selling can bring a higher price.
It compliments the sales process – marketing and sales go hand in hand.
It builds your prospect database so you can continue to market to them in the future.
It ensures future sales for new developments.
You are appealing to peoples hopes and dreams, buying property is an emotional experience – the right real estate marketing can help you connect with this aspect.
It builds market share and your brand – two very important pieces of the puzzle
Why is marketing your real estate so important? Because it puts your development on the map. It helps you connect with those individuals and families who could, over time, become lifelong clients. And isn’t that what it’s all about?Get started with a comprehensive real estate marketing plan for your condo or luxury home development.