Understanding the 4 P’s of Real Estate Marketing

Atlanta’s real estate market has become more fragmented than ever before. Consumers have unique needs and you must device a unique strategy to fulfill them. Being a real estate professional for over 25 years, I have witnessed several real estate agents struggle to find clients because of lack of a well-developed real estate marketing strategy. Today, real estate agents need to realize that just like any Untitledother industry, being successful in real estate industry requires strategy- a strategy than can differentiate you others and provide you a sustainable competitive advantage.

To help you build and sustain your competitive advantage, I am describing the 4 P’s of real estate marketing in this article. Understand them and create a strategy that covers all the four P’s.

1.     Price

Pricing your property strategically is extremely important. While psychological pricing, which uses odd numbers such as $19.99 instead of $20.00, may work in the retail industry, it fails to find buyers searching for properties online by break points. For example, if your property is worth $300,000, and you strategically price it at $299,999, you might lose buyers who use the break point of $300,000 and above. Therefore, at Platinum Real Estate, I always price my properties strategically to find the maximum number of clients.

2.     Product

Real estate is your product. While it is important to cater to the needs of a large number of customers in order to become successful, you should prepare yourself to do tradeoffs. Michael E. Porter, the well-known economist, explained in an article in Harvard Business Review that competitive advantage can only be built through tradeoffs. You need to find your niche and serve your customers the very best in that particular niche. So, if you’re dealing in high-end properties, offer the most premium properties to your clients to differentiate yourself from others.

3.     Promotion

This P of real estate marketing is all about how you promote your product. To succeed in Atlanta real estate industry, you need to use all possible means of real estate marketing. From organizing open houses to promoting your product online, use all possible means of marketing to reach the maximum number of clients and to find the best buyer for your property. To learn more about real estate marketing and prospecting, you may consider investing in “Luther Ragsdale Step-by-Step Prospecting Manual.”

4.     Positioning or Placement

To attract maximum number of prospective buyers, you must position your advertisements in the right way at the right places. Choose several high-traffic Atlanta real estate websites to publish your ads. Pay special attention to the description of your listings and highlight the features of your property in an enticing yet subtle way. Avoid using strong salesy phrases instead; try indulging your customer by using phrases that can help them connect emotionally to the property you’re trying to sell.

Incorporate these 4 P’s to your real estate marketing strategy and you’re sure to meet real estate success. Do not forget to register for my upcoming free million dollar producer workshop January 23, 2016.  I will show you my 4 step system to becoming a top producer in 2016. To learn more and to register visit www.lutherragsdale.com

To learn more, keep reading my blogs on my website www.lutherragsdale.com and www.platinumrealestate.com

 

 

 

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