Real Estate Marketing

Buying a property is a big step for most people and probably one of the most important in their lives. An emotional connection to the object is a prerequisite to motivate the customer to buy the property.

Addressing the customer already starts with the advertising, which has to grab the customer emotionally. In the Real Estate sector, more conventional advertising media are used for marketing Real Estate, which are e. g. Sales advertisements in the newspaper, flyers, exposés or outdoor advertising.

The trend of the Internet stands out clearly for several years. It is important that Real Estate companies pay attention to where they advertise their properties, on which portals their target group is active and in which media the target group searches for properties.

What is the goal of differentiation when it comes to Real Estate Services?

The goal of differentiation is not to create something completely new on the market, but to present already existing products or services to the customer in a different way than the competition. For differentiation, a special Unique Selling Proposition is of great importance. This positions the company in the market as unique and special and thus appeals to its customers, giving the company a competitive advantage over its rivals.

How to recognise a Real Estate Agency?

A special brand image makes a company something special because it conveys an extraordinary message. Furthermore, there is a differentiation by service and services, whereby a company with service can score points with its customers. Above all, speed and thoroughness are the be-and-be-tell of a collaboration for most customers. Similarly, a company may differentiate itself by price/performance ratio in the marketplace, whereby a company may choose between a high-price strategy or a low-price strategy. Finally, in Real Estate marketing, there is still differentiation via communication.

On the one hand, communication conveys the special capabilities of the company, which would be: service, the special brand image and the performance of the company and the price.

What are the global business objectives of a Real Estate agency?

The global business objectives of a Real Estate agency can be economic on the one hand and non-economic on the other. The economic goals include, among others, the goal of having sold as many objects as possible by a certain point in time or motivating the target group to increase their buying behaviour. Non-economic goals include increasing awareness and building image through strong branding.

The non-economic objectives can be considered as strategies since they contribute to the achievement of the economic objectives. It is often very difficult to distinguish strategies from goals, as a strategy can also be a goal, and a goal can be a strategy.

The following questions are important for a Real Estate agency in order to determine its marketing and corporate goals:

- What are our goals for the coming year? Specifically, where should our company be in five years' time?

- How should we achieve these milestones?

- Where is our Unique Selling Proposition or what are our core business areas?

- How to change a service policy in order to maintain and expand our Unique Selling Proposition?

The task of marketing strategies is to achieve the company's goals, whereby the starting point is the current state. In order to achieve the target state, specific strategies are applied. The marketing instruments are based on the strategy and are defined accordingly. In the literature, marketing strategies are referred to as specific behavioural plans that involve a series of decisions. This includes, for example, the choice of the market field, the type and scope of market cultivation, the definition of the primary services and the behaviour towards the competition. In order to develop strategies, a company must be particularly flexible and creative, as it must respond to changes in the market and customers.

It is therefore often the case that companies have to deviate from their core strategy, in order to remain competitive with regard to the market and customers. Often new strategies have to be formulated, because e. g. the laws in the Real Estate area change or are no longer represented.

It's important that a Real Estate agency is represented in the market in such a way that customers can see what makes a company different from its competitors. The creation of individuality is a key point, because the customer should recognise the benefits he receives from a certain brand. Furthermore, the customer must recognise the competence of a company by the choice of products and services, which are more diverse than those of their competitors.