I just came across this article by MarketWatch, regarding an increase in search traffic by potential buyers for real estate online. It’s great to see that there are potential buyers out there, keeping an eye on the market and looking for great condo deals.
Based on consumer search trends, real estate search is picking up inthe markets hit hardest by the recent economic conditions, indicating renewed consumer interest in these areas. Local markets with the greatest year-over-year increases in October searches included Las Vegas, Nevada (40.7%) and Miami, Florida(35.4%).
Approximately five percent of consumers said they plan to buy a home in the next 12 months, about three times the percentage that actually bought this year.
In today’s market, consumers need information and competitive analysis as they contemplate making a significant investment in real estate. NewCondosOnline.com remains the number one most visited site for new Condos and the company continues to offer the most comprehensive portal for new condos on the web.
While today’s challenging housing market has affected many, search activity on NewCondosOnline.com remains strong indicating that the desire for homeownership is alive and strong.
Marketing is a relatively simple science but it does take experience and creativity to execute it correctly. Many associate marketing with sales or advertising and while they definitely overlap, they are completely separate powers. These powers must be aligned in order to compliment one another, but they must be focused upon as unique categories that are all part of the success puzzle. This is true for marketing in all industries and it does not matter if you are talking about B2B or business to consumer marketing. Both utilize different strategies but they hold equal importance.
Far too often, especially in the real estate marketing world, people say they can not afford marketing or they intentionally keep their marketing budgets low because money is tight. In the end, if budgets are small, margins thin, and funding diminishing one can only do what is possible. However, marketing budgets can be streched through strategic media buying and wise choice of advertising outlets. Advertising of course is just one component of the "marketing plan" but it is a BIG part. Creative and successful marketing plans that produce sales will make or break a marketing professional in the eyes of their manager or boss. Especially, when sales are harder to come by.
Giving a real estate marketing director a tiny budget will almost always ensure their failure – not ALWAYS but most times. It depends on the project, product or service being marketed. In this case we are talking about marketing condos, new homes, resort communities, etc. Below are tips for streching the budget and allocating funds in sales producing outlets that are measurable.
TIPS FOR STRETCHING THE BUDGET:
- Use a well-established media buying firm to use their "buying power" in order to purchase advertising on your behalf
- Choose cost effective media outlets such as online advertising, low cost listing sites and free listing sites
- Negotiate price!
TIPS FOR CHOOSING GOOD ADVERTISING PLATFORMS:
- whether most people want to realize it or not – the Internet is the way to go. It is cost effective, measurable (print is NOT!!!) and its where ALL the buyers are doing their research
- some creative print add should be done but in spurts – not ongoing because its FAR too expensive
- Email marketing
All of these tips and comments are coming from the experts, not just me. Marketing condos for sale and resort communites takes creativity in the marketplace where there are fewer willing buyers. Rest assured that you ARE competing for a smaller group of buyers who have countless choices of inventory and lower cost deals. In the end it all boils down to how and when you reach those buyers!