Archive for Real Estate Web Site Tips
Are Marketing Niches Too Restrictive?
· CommentsI talk to a lot of agents about identifying a niche market to go after. Those discussions end in different ways. Some agents immediately see the value of a niche, others really feel that narrowing their marketing focus will be detrimental.
There are a couple things I try to communicate about defining a niche:
1. Defining a niche doesn’t mean that you eliminate all other prospects. If you specialize in working with people who are relocating, that doesn’t mean that you won’t work with local buyers or sellers. It just means that you don’t market to the local folks.
2. Most (perhaps all) successful businesses define a niche. I always tell people that one strength I bring to the table is the ability to apply good marketing principles to the real estate industry. At times, it makes me sound like a nut, but I keep after it anyway.
Think of any business that comes to your mind and ask yourself if they have a niche. Let’s take cleaning products, for instance. Have you ever been unlucky enough to be watching television during the day – maybe during a bout of the flu? Have you noticed that there are tons of commercials for cleaning products during the day?
Could that be marketing to a niche? There are many more women responsible for cleaning the house watching television during the day. The cleaning product manufacturers know that men and women working outside the home may also use their products, but they don’t market to them.
Do you have a luxury magazine in your city? We do here in Atlanta. How many ads do you think there are in that magazine for luxury cars? How about pickup trucks? Sure, the pickup manufacturers know that someone with a lot of money might buy a pickup truck. But, they don’t market to them.
So, the next time you are thinking about a niche market, keep in mind that every human being on the planet might buy a home from you, but do you want to market to them?
Photos Sell Houses
· CommentsIf you’ve been wondering whether hiring a photographer to take pictures of your real estate listings was worth the cost, here’s more information on how important photos are!
The California Association of REALTORS® finds that Internet visitors rate multiple photographs and slide shows highest among desired features.- Point2 Agent discovered interesting facts during a 30 day study of home listings: those listings with over 20 photos received 15 times more views and 10 times more leads than listings that had less than 20.
- MLS associations are moving in the direction of requiring photos before a listing can go live.
For more detailed information, refer to this article in RIS Media.
Looking for Market Information?
· CommentsI was cruising through Realty Times today and found an article about spotting markets for real estate investors. The article identifies markets that have been projected to have the least likelihood of home price declines. As a matter of fact, Texas has more of those cities than any other state.
And, the article identifies markets with the most likelihood of home price declines. It was no surprise to find California at the top of a list of four states that have the most markets likely to keep declining.
Free Global Statistics
The basis for the conclusions in the article came from a report the author referred to as the “PMI Group’s quarterly risk list”. I was a bit curious about that, so, naturally, I Googled it.
If you’re looking for a high-level view of the market, you might find the PMI site to be a good resource. The PMI Mortgage Insurance Co. is one of the largest private mortgage insurers in the United States. They are based in California and have a nationwide network for field sales and underwriting.
If you’re interested in reviewing that “risk list” report yourself, you can find it on the PMI site. The formal name of the report is the Economic and Real Estate Trends (ERET). The most recent appendix to that report is available as a PDF online, as is the full report and archived reports.
