Real Estate Marketing Plan

Marketing 101 – How to Create a Marketing Plan

In order to succeed in any business venture, you must a create plan. In real estate, the stakes are even higher. According to a 2001 survey of realtors conducted by Real Estate Issues, the turnover rate in real estate is close to 50 percent within the first two years and 98 percent within five years. Given these startling statistics, it is critical for every agent to create and implement results driven marketing plans.

The premise of marketing is actually quite simple. The first step is to generate leads, which can be converted into customers and ultimately lead to closed sales. This of course is slightly oversimplified. Creating a plan can be a much more daunting process for those unfamiliar with marketing strategy.
Text Box: Elements of an Effective Marketing Plan 1. Goals and Objectives 2. Target Audience 3. Branding Strategy 4. Key Marketing Messages 5. Marketing Tools 6. Action Plan 7. Budget 8. Results Tracking

Goals and Objectives

Goals and objectives give the big picture for your business. They are your overall vision of success. Objectives are the major things you wish to accomplish, such as being the top sales representative in the condominium market in your area over the next ten years. This objective gives you a broad target to strive for. The goals are smaller, measurable actions that will help you to reach your objective. For example, some specific goals to reach your objective might be to obtain a certain amount of condo listings over the next year or receive a specific number of referrals. Set realistic goals and keep track of your progress. At the end of a predetermined period of time (one year, six months, a quarter), reevaluate your goals to see if they are realistic. Goals can (an most likely will) be readjusted or refined to help you attain your overall objective.

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