Slide 6-1

The Marketing

Mix

CHAPTER 6

Slide 6-2

Why Market?

Motivate customer

to take action

Create memorable

awareness for the

future ?

One 66%Two 20%

Three 10%

Four or more 5%

Number of Real Estate Agents Interviewed by Buyer

Slide 6-3

Distance

Absentee buyers and ownersWhere to market?How to prospect?

close

Are You #1?

Decision Time

Long decision time—months, yearsShop while visitingPurchase offseason

close

Two-thirds of buyers only contact ONE agent during the property search process. How can you make sure that you are that one agent?

close

Market Conditions

Step up efforts when market is downReallocate for most bang for buck

close

Slide 6-4

Marketing Means Alignment

Properties and services consumers want

Right product Right price Right time

Slide 6-5

Basic Research Does my business support

promotion of what consumers want to buy?

Your observations are valid Formulate objectives based on

market area, customer base, properties

Who are mycurrent and potential clients and customers?

How do I compare to my competitors?

Where are customers and clients located now?

Slide 6-6

Marketing Media

Match the media and message to the audience

What does the target audience read and hear?

Evaluate cost-benefit of available media

InformationSources#1 Internet#2 Real estate

agents

What is my budget?

Slide 6-7

Tracking Responses

Tells you which media are most effective

Payoff may be long term

Use identifier codes

Ask how the person heard about you

Spend the most where you

make the most

Distinct e-mail addresses and phone numbers

Slide 6-8

6 Questions to Ask

Customer focused or

Unique reflection or

Emotional appeal or

Market niche or

Customer benefit or

Professional

Ego focused?

Indistinguishable?

Resume?

General?

All about you?

Junk mail?

Slide 6-9

Personal Branding

Create a memorable image

Establish expertise

Build reputation

Enhance marketplace recognition

Create “shelf space” in consumer’s mind

Slide 6-10

Personal Branding

Everything about you—your appearance, you car, your office, how you answer the phone, how you treat your customers—creates a “brand” in the public’s mind.

Google your own name

Slide 6-11

How Buyers Find Real Estate Agents

Referred by a friend,

neighbor, relative, 42%

Used previous agent, 12%

Internet Website, 9%

Visted and open house & met agent, 6%

Sign, 6%

Referred by another agent or broker, 4%

How Buyers Find Real Estate Agents

Slide 6-12

Value proposition

Repetition

Logo and tagline

Consistent

Creating Your Brand

Commitment

Authoritative

Congruent

Professional

Idiosyncratic Memorable Attractive

?

Slide 6-13

David Kent“The Real Buyer’s Agent”

Eloise Martin

James Wyatt

Barton WyattEstate Agents

What do these personal brands communicate?

“Eloise Sells

Dallas”

Slide 6-14

The Generational MixWorking with different generations

Buyer Age

Vacation Properties

Investment Properties

Under age 45 46% 50%

Age 45 to 54 23 24

Age 55 or over 31 26

Median age (years) 47 years 45 years