real estate marketing, Components of promotion in the real estate market

In the real estate sales market today, to one degree or another, all sellers use four important components of competent product promotion: 

1) informing the client about the offer;

2) formation of understanding of the proposal;

3) customer engagement;

4) the formation of trust in the seller

True, an integrated marketing approach based on working out all three components is not observed in most cases. But what is always present is the same type of advertising modules with the facades of the object being sold, its characteristics and the area cut into it for sale and the seller’s contact information. 

This stereotypical and “informational approach” produces the effect of “blurring” the view of a potential client, which is why marketing does not produce the effect that the seller expects. 

What does it mean to be an informant, 

To do something wrong, it is enough to transfer the principle of selling goods through the counter, characteristic of FMCG, to the real estate market. What does the “counter” of a company selling, say, country houses look like? 

 Icons of various and different types of houses, 150×150 pixels, displayed in a row in some cases, free-standing houses are placed on SHARES – houses that are optimized in terms of the cost of raw materials and materials, or whose area is calculated along the outer perimeter, or which have removed everything possible: finishing, interior arrangement, delivery, etc.

 If you want to familiarize yourself with one of the offers “from the counter,” you find yourself on the meager material about the thickness of the walls, the area of ​​the perimeter, a paragraph of the text about energy, and the obligatory “top view.”

 All houses have strangely indefinite names, names repeated by each seller: half-timbered house, Finnish house, chalet, poolhouse. That is, the whole market sells these “half-timbered houses,” but, at the same time, each of the manufacturers calls a house with this name, which is very different from a similar house of a competitor.

 From such a counter, which is very similar to others, manufacturers declare that they produce the timber themselves, the lining, they saw and dry wood, or produce bricks. However, you must agree that knowing the size of the manufacturer’s wallet and the availability of some production capacity does not mean that the house delivered on the site will be convenient for the buyer. It’s like having a license does not determine the ability to drive.

 Look at the offers on the market and note: what is the ratio of photographs of the facades of built houses and photographs of their interiors? If you find great of facades, try to answer the question: do manufacturers sell services for the erection of facades from sawn and planed, fired in ovens and equipped at their factories, or sell what the buyer wants.

How do you properly inform a potential client?

The seller of a real estate object and marketer need not be an “informant” about themselves and their offer by and large. It is necessary to work out all three listed above, which are the components of successful marketing.

Almost all manufacturers rely on the customer’s knowledge. True, no one consciously forms this knowledge from the client: 

1) Why do all manufacturers start by ranking their proposals in terms of cost and size of the area, but no one says: how does a house of 180 square meters differ from 250 square meters? That is, 180 meters is enough for what, or if 250 is a lot, how many meters do I need? How many square meters of ​​a country house does an adult man 40 years old or a child five years old need?

2) The one-time fixed costs of building a house are clear from the prices, but how much will the fixed operating costs differ for a house of 180 and a house of 250 squares? Is there a difference in the durability of houses of different sizes? 

What is the best way to promote real estate objects? 

Instead of giving the client data about the project, it is necessary to broadcast the mood, image, and emotions.

1) Instead of house icons, modern presentation technologies should be widely used: 3D-mapping, augmented reality, 360-degree projection. The FMCG Way sells over the counter, but selling objects for 5 million is worth shelling out to render the object.

2) Selling a concrete or wooden box under the roof does not mean at all that you need to promote log cabins or bricks. In marketing communications, more and more, it is necessary to talk not about the product, but about the benefits – about the interior solutions, the level of comfort, and the life aspirations of buyers realized with the help of real estate objects. Depict more people at home, people in the interior, talk no more about engineering solutions, but the buyer’s benefits in the broadest sense.

3) Technology is good. Now the trend is virtual operators who have developed intelligence and can answer even complex customer questions themselves. But real people should sell real estate for millions and save money by replacing them with automatic machines – this is not true since this violates the fundamental principle of selling the premium segment (luxury segment) – “licking” the client. True, this also means that if a live seller knows how to communicate in the same way and knows no more than an electronic consultant, it is better to have an automatic machine!

4) A test drive service is a good marketing tool for expensive products. One of the major players in the real estate market, Miel, offers its customers a test-life weekend trip to Riga, including flight and accommodation in a residential complex. This allows you to understand what conditions, with what neighbors, and level of service the client will live if he decides to buy a real estate marketing company

“Good real estate marketing is creativity born with a project, and not at the moment when some abstract house has already been built, and you urgently need to figure out how to sell it.”