Investing Strategy & Tips
Real Estate Marketing Strategy – How to Get Yours Established
By Buyincomeproperty.com
Oct 14, 2005, 13:01

For those who regularly invest in real estate, creating a solid real estate strategy is probably second nature. But for those who are new to real estate investment, finding helpful hints on marketing strategies for real estate is second only to finding reliable advice.

So how do you establish a real estate strategy? There are some steps you can take, but you also need to understand from the beginning that a successful real estate marketing strategy differs from one area to the next. That probably means that you’re going to have to take the best real estate strategy advice from those who know marketing, add in your own common sense and knowledge of local markets, and create something that works for you. It also means that you’ll probably have to spend some time on trial and error.

The first step to determining what real estate marketing strategy will best work for you is to look at your real estate and your goals. Are you looking for short sale real estate strategies? Are you expecting your property to represent long-term investments? Do you have a combination of both types? You may find that you need to turn some property quickly to increase your cash flow, but are willing to hold on to other properties in order to find that one buyer who is willing to pay top dollar. One important step in your real estate marketing strategy is to determine which properties are which.

One of the most important steps in a successful real estate marketing strategy is sheer marketing. You can put a sign up in the front yard and hope that a buyer sees it, but that isn’s usually enough unless the property in question is in an extremely high-traffic area. Otherwise, you’re going to have to get the word out. Just like a successful business depends on customers knowing where to find the merchandise they want to buy, a successful real estate strategy depends on finding potential homeowners. You have several options to accomplish this.

One possibility is to hire an agent who’ll help market your property. There are some positives and negatives to this real estate strategy. Real estate agents deal with people who are in the market for property and homes. They also typically know what their shoppers are looking for. That means that they’ll bring people to look at your property who are potential buyers. The agent will also free you from taking time to show the property to those potential buyers.

One of the negatives is that you’re going to pay a fee for the service. It might be possible to negotiate that fee, especially if you’re offering an agent exclusive listings for several pieces of real estate.

If you decide that you should create your own real estate marketing strategy, you’re going to spend time and money on the venture. You have to decide if it’s worth that investment, but remember that it also means you have control over the situation. If you want to throw an open house as part of your real estate marketing strategy, you’re free to do so. If you want to place advertisements, that’s also a possibility.

Determining the best real estate marketing strategy may also depend on what homebuyers in your area are accustomed to seeing. That doesn’t mean you should stick to the norm – in fact, doing something totally different as part of your real estate marketing strategy may be incredibly wise.