A 14-Step Plan for Effective Real Estate Marketing and Sales Growth

The 14 Essential Steps for an Effective Real Estate Marketing Plan:

1. Staging and Pricing Strategies:

   • Scientific Principle: Behavioral psychology, specifically framing and anchoring. Framing refers to how information is presented to influence consumer decisions, while anchoring refers to the impact of the first information received by the consumer (the initial price) on their evaluation of the property.
   • Practical Application:
     • Staging: Preparing the property visually attractively to leave a positive impression on potential buyers. This includes cleaning, rearranging furniture, and adding aesthetic touches.
     • Pricing: Setting an appropriate price for the property based on market research and Comparative Market Analysis❓❓ (CMA). The price should be attractive to buyers while reflecting the true value of the property.
   • Example: If comparable properties in the area range from 450,000 to 500,000 Saudi Riyals, it may be best to price the property slightly lower (445,000 Saudi Riyals) to attract more potential buyers and create competition.

   • Mathematical Formula: A simple formula can be used to estimate the price of the property based on its area and the price per square meter in the area: Estimated Price = Area (sq m) * Average Price per sq m in Area
     2. “For Sale” Sign and Directional Signs:

   • Scientific Principle: Diffusion Theory, which indicates how new information spreads in society. The sign is a traditional yet effective advertising tool in spreading awareness of the property for sale in the surrounding area.

   • Practical Application: Placing a clear and prominent sign in front of the property, with directional signs to guide potential buyers to the location.
   • Example: Using a large and attractively designed sign, with a phone number for contact and a link to the property’s website.

2. Distribution of Flyers in the Neighborhood:

   • Scientific Principle: Direct Marketing, a form of advertising that aims to reach potential customers directly.
   • Practical Application: Designing attractive flyers that include basic information about the property (photos, brief description, price, contact information) and distributing them in a special box in front of the property, or directly distributing them to residents of the neighborhood.
   • Example: Flyers can be distributed in mailboxes, hung on doorknobs, or distributed in public places frequented by residents of the neighborhood (cafes, shops, community centers).

3. Flyers in House/Home Book/Comment Cards:

   • Scientific Principle: Customer Relationship Management❓❓ (CRM), where information about visitors and those interested in the property is collected to strengthen the relationship with them and facilitate the sale process.
   • Practical Application: Placing additional flyers inside the property, providing a visitor log for registering information, and comment cards for collecting opinions of potential buyers.
   • Example: The visitor log can be used to collect email addresses and phone numbers, and send follow-up messages to visitors who have shown interest in the property.

4. MLS (Multiple Listing Service):

   • Scientific Principle: Social Network Theory, where the MLS allows properties to spread quickly in a wide network of real estate agents and brokers, increasing the chances of finding a suitable buyer.
   • Practical Application: Listing the property in the MLS, which is a central database of properties for sale, used by real estate agencies and brokers.
   • Example: The MLS allows real estate agents to search for properties that meet the needs of their clients, and present them to them, increasing the chances of selling the property.

5. Web Listings with Virtual Tour:

   • Scientific Principle: Digital Marketing and User Experience (UX). Web listings with virtual tours are an effective way to display the property on a large scale and provide an interactive experience for potential buyers.
   • Practical Application: Creating a dedicated web page for the property, including high-quality photos, a detailed description, and a three-dimensional virtual tour.
   • Example: Using professional photography and virtual reality technologies to create an attractive virtual tour that allows potential buyers to explore the property from their homes.

6. House Featured in “Marketing Vehicle” (calendar, etc.):

   • Scientific Principle: Content Marketing and Brand Awareness. Featuring the property in various marketing tools helps to increase brand awareness of the real estate agency and attract the attention of potential buyers.
   • Practical Application: Displaying the property in an annual calendar, a real estate magazine, or any other marketing tool that reaches the target audience.
   • Example: The property can be displayed in a free annual calendar provided by the real estate agency to its clients, or in a monthly real estate magazine distributed in the area.

7. Open House Program:

   • Scientific Principle: Experiential Marketing, where potential buyers are given the opportunity to experience the property directly, increasing the chances of a sale.
   • Practical Application: Organizing “open house” events on specific days, inviting potential buyers to visit the property, and interact with real estate agents.
   • Example: Providing snacks and drinks for visitors, and providing detailed information about the property and the surrounding area.

8. E-mail/Fax/Voice Broadcast (with your web address):

   • Scientific Principle: Email Marketing and Multi-Channel Marketing. Using various communication channels allows reaching the largest segment of the target audience.
   • Practical Application: Sending emails, faxes, or voice messages to a list of potential customers, including information about the property and a link to the real estate agency’s website.
   • Example: A customer relationship management (CRM) program can be used to send personalized emails to customers who have shown interest in similar properties in the past.

9. Track Showings/Collect Feedback:

   • Scientific Principle: Data Analysis and Continuous Improvement. Tracking showings and collecting feedback helps understand the needs of potential buyers and improve marketing strategies.
   • Practical Application: Recording the number of showings, collecting visitor feedback about the property, and analyzing the data to identify strengths and weaknesses.
   • Example: A CRM system can be used to track the number of showings, and send questionnaires to visitors to collect their feedback about the property.

10. Target Marketing:

    • Scientific Principle: Market Segmentation and Target Audience. Targeted marketing helps focus marketing efforts on the segment most likely to buy the property.
    • Practical Application: Identifying the target group of buyers (e.g., young families, or investors), and designing customized marketing campaigns for them.
    • Example: If the property is a small apartment in the city center, it may be best to target young professionals looking for housing close to their workplaces.

11. Weekly Seller Updates:

    • Scientific Principle: Customer Expectation Management and Trust Building. Weekly updates help keep the seller informed of marketing efforts and build trust❓ between the real estate agent and the seller.
    • Practical Application: Providing the seller with weekly reports including information on the number of showings, visitor feedback, and ongoing marketing efforts.
    • Example: A weekly email can be sent to the seller including a summary of marketing activities and an analysis of feedback from visitors.

12. Property Caravans:

    • Scientific Principle: Word-of-Mouth Marketing and Networking among Real Estate Agents. Property caravans help spread awareness of the property among other real estate agents, increasing the chances of finding a suitable buyer.
    • Practical Application: Organizing a tour of properties for sale, and inviting other real estate agents to participate.
    • Example: A weekly property caravan can be organized that includes visiting a group of properties for sale in the area, and exchanging information among real estate agents.

13. Creative Marketing Ideas (10K, Cable show, etc.):

    • Scientific Principle: Guerrilla Marketing and Differentiation. Using creative marketing ideas helps attract the attention of potential buyers and distinguish the property from other properties for sale.
    • Practical Application: Organizing sporting or social events near the property, or producing a short television program showcasing the property.
    • Example: A 10-kilometer race can be organized near the property, and advertising banners for the property can be displayed along the race route.

Interactive Voice Response (IVR) System:

The Interactive Voice Response (IVR) system is an important technological tool for real estate marketing. This system allows recording a detailed audio description of each property, which potential customers can listen to at any time.

• How it works:

  1. A unique phone number is assigned to each property.
  2. This number is placed on all marketing materials for the property (signs, flyers, websites, etc.).
  3. When customers call the number, they listen to the audio description of the property.
  4. The system records the caller’s phone number and sends it to the sales team.

• Why is it important:

  1. Consumer Convenience: Consumers prefer calling an audio recording rather than speaking directly to a sales representative.
  2. Qualifying Potential Customers: The system allows you to identify customers who are actually interested in buying a property.
  3. 24/7 Service: The system is available 24 hours a day, 7 days a week.
  4. Increased Productivity: The system saves time and effort by providing basic information about the property to potential customers.
  5. Lead Conversion: A rate of 10% to 20% of calls can be converted into actual sales.
  6. Information Gathering: The system records important information that customers may forget to mention (number, property, source).
  7. Powerful Marketing Tool: The system can be used as a powerful marketing tool in sales presentations.

• How to advertise properties using the IVR system:

  • Include the property’s IVR number on all marketing materials.
  • Provide a brief explanation of how to use the system.

• Recording Voice Ads:

  • The voice ad should be recorded as soon as possible after receiving the property documents.
  • The speaker should have a pleasant and clear voice.

  • The recording should include the following information:

    1. Address
    2. City
    3. Number of rooms
    4. Number of bathrooms
    5. Area (mentioning the source)
    6. Distinguishing features (swimming pool, wooden floors, etc.)
    7. Information about schools
    8. Information about the neighborhood
    9. Team website link

  • Important Note: Do not include the price of the property in the recording. This allows sales representatives❓ an opportunity to connect directly with potential customers.

• Call Tracking:

  • The IVR system provides reports on call activity, helping to identify effective marketing sources.

• Callback:

  • Sales representatives should call back potential customers as soon as possible, using specific sales scenarios (refer to MREA: Scripts Catalog).