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Real Estate Marketing: Connecting with Internet Savvy Consumers

Here is some good advice regarding real estate marketing from our friends at CoreLogic . . .

What is “hyperlocal” and why is it key to your success?

“All real estate is local,” the saying goes. But what buyers and sellers really want to know is “hyper”-local information – the numbers and news that affect their specific community’s neighborhoods. When an agent shares information about the first day of school, the date of the high school football games, or how road construction will affect a morning commute, that agent becomes more than a home seller … he or she becomes a trusted resource.

The best agents already know this. Texas broker and 2010 Inman News Innovator Krisstina Wise’s GoodLife Team regularly posts graphs on its blog showing average sales prices and closed sales for Austin. She lists “Good Hoods” as well: neighborhood profiles with maps, news, schools and restaurant reviews – crucial in a town where eating out is a passion.

Ken Brand is a savvy Facebook poster of “cool things happening at Market Street in The Woodlands”, Texas. As sales manager of Prudential Gary Greene, Realtors, Brand regularly links to news such as a fall concert series in the community.

None of this is really new; it’s something agents and brokers have done forever – providing neighborhood-relevant information that creates trust and builds relationships. We just do it online now.

The free Housing Trends eNewsletter (www.HTEN.com) includes local information on real estate sales and price activity provided by MLSs across the country, in addition to community reports comparing amenities and statistics by ZIP codes across the country. Plus, agents can insert their own hyperlocal content in the new “Messages” section located at the top of the e-newsletter.

For example, a message from Carlos Rafael Cruz, an Intero agent from Santa Clara, Calif., reads, “Corvette announces 35th Annual Corvette Car Show, August 21, 8 am-4pm on Main Street, Los Altos. Street traffic closing from First Street to San Antonio Road, but open to foot traffic. Come join me and the fun! http://www.sccorvettes.org.”

Another vehicle for providing hyperlocal information is The Breaking Network, which delivers social media-sourced news and information as a ticker tape of everything happening in a community. It includes the three things people want to know: real-time news, things to do, and all the deals in the city.

“Breaking Bergen News” (www.breakingbergennews.com) is a great example of one of the many communities covered by this service. Covering local headlines, restaurants and a live Twitter stream of locally tagged items, a small editor’s note asks readers to connect with @BrianMorgenweck. Real estate is just another tab, not the focus of the page.

To succeed in today’s real estate environment, agents must understand they can still sponsor the local Little League team. However, your name must be just as prominent in the “wired” world as a neighborhood advocate. Are you out there?

First published in Rismedia’s Real Estate Magazine, October 2011.

Marketing Tips for the New Year

While your Real Estate business is arguably good enough to speak for itself, and you are no doubt one of the busiest agents in your area, it’s still crucial for you to make sure you focus on your marketing strategy. We’re already one month into the New Year, but that doesn’t mean it’s too late to rethink your marketing efforts.

Here are some tips to keep in mind as you map out your marketing plan for the year.

  1. Request for Help and Delegate Tasks. No one can be everything to everyone. It’s exhausting. Develop a trusted circle of friends and colleagues with which you feel comfortable delegating tasks and asking for advice. The more assistance you gain, the better you’ll be at your job and marketing yourself. That means better business which hopefully means more success for you!
  2. Keep count and stay accountable.Set quantifiable goals now before the year runs away from you, and re-evaluate where you are at the end of every month in 2012.
    • Are you on the right track to meet your goals?
    • Are you surpassing them?
    • What needs to change and what should stay the same?

    If you have measurable goals, it will be easier for you to be successful.

  3. Stay Steady and Don’t Slow your Roll. Even if you are hitting marketing milestones left and right, don’t slow down or take time off from marketing. Keep your pace up! The minute you start to slow down you could spiral into getting too far behind, and then you won’t meet your goals.
  4. Do what works, don’t do what doesn’t. It may sound silly to mention this, but it’s extremely important to commit to memory.

While there may be pressure to spend loads of money on certain marketing trends, be patient and do your research first. Each year, the Real Estate Industry looks a little different than the last. With the advent of new technology and the ever-changing state of the economy, it’s important to pay attention and make smart decisions about marketing. If it doesn’t make financial sense for you to slap your face on a thousand billboards across town, don’t do that right now. Concentrate your efforts somewhere that makes sense for you both financially and vocationally.

What other marketing objectives are you tackling in 2012? Tell us below!

To view the original article, visit the Homes.com blog.

Millennials more difficult to reach, but respond well to creative ads

By: Lani Rosales /AGBeat

 

Advertising to Millennials

For years, we’ve written about marketing to Millennials not only because several of us are actually in the Millennial/Generation Y category, but because it is a highly misunderstood generation. Only 20 percent of people 30 and under are married, and Millennials are the least employed of any age demographic. Most reports or opinion pieces we come across are a joke, as they misinterpret data or assert assumptions on to the generation that are completely false.

Today, comScore has released highlights from their upcoming report on advertising to Millennials and we are enthusiastic that their findings are spot on. They define the generation as having a high comfort-level with new technologies and cultural diversity, as well as being accustomed to on-demand access to entertainment, continual stimulation and extreme multitasking.

The report notes that television ads work substantially less effectively on Millennials than on older generations, but were able to retain a much longer lasting impression of a television advertisement. The 30 and under crowd will most likely remember an advertisement, but it does not necessarily convert to a sale. Interestingly, television ads (that are not forwarded through) are 30 seconds, which is a short time to devote attention, and Millennials as digital natives are used to processing millions of rapid packets of information, thus retention is higher and reception is lower. Predictably, digital advertising performs better than television on Millennials.

The comScore reports that Millennials tend to be less interested and more difficult to connect with, capture attention, impress, convince and entertain. This is an assertion we made years ago and were scoffed at – it is nice to see data to back up the idea that attention spans are short and because of growing up around constant advertising, our generation is difficult to impress and on top of everything, Millennials are price conscious.

How to reach Millennials

For all generations, but especially Millennials, comScore notes “the presence of key creative elements in advertising were shown to relate strongly to successful advertising.”

The good news is that when a Millennial chooses to engage with television or digital content, engagement has been shown to amplify the effectiveness of advertising, so comScore says that when targeting Millennials, it is important to utilize engaging content to help boost returns from investments in advertising.

Millennials are natural researchers, are thoughtful and when they chose to move beyond an observer and become a lead, they engage more highly than any other generation and opine publicly (positive and negative) than others. If you can win over a Millennial and have their contact information, you’ve moved beyond what many advertisers (particularly your competition) have been able to do.