The world of real estate marketing has been anything but boring over the past few years. From virtual property tours becoming the new norm to promoting the unique amenities of office spaces, it’s important to stay on top of trends to ensure your success in an ever-changing market. Here are a few things to keep in mind when developing your marketing plan.
How’s the market? Whether you’re in commercial or residential real estate, you’re probably asked this question pretty regularly. There’s still a lot of uncertainty out there and people are just looking for someone they can trust to make some sense of it all. Luckily, you’re well positioned to act as an authority here!
Inman suggests that you take advantage of the opportunity to “show and tell” your contacts that you can give them real context behind the headlines they’re constantly reading. Their advice is to “break through the noise by consistently sharing powerful market-based visuals and content in your listing presentation, buyer or seller guides, social media, and email marketing.”
Changing home buyer demos. Speaking of data, marketing isn’t possible without it. Did you know typical residential buyers are the oldest they’ve ever been? NAR reports that the typical first-time buyer is an older millennial (36 years) and the typical repeat buyer is now a baby boomer (59 years). This provides insight into which marketing channels your message should be communicated, depending on which audience you’re looking to target. While millennials can be effectively reached by utilizing “sharable blog posts and short videos” (according to RISMedia), baby boomers still consider “newspapers, magazines and TV ads” to be “credible and trustworthy” (according to RealTrends).
Supply chain tech. For those in commercial real estate development, you know there remains ongoing issues when it comes to sourcing construction materials. GlobeSt predicts companies will undergo an accelerated adoption of technology in the form of “software platforms to increase visibility and transparency, mitigate geopolitical risks, and streamline inventory.” The developers who are most prepared for upcoming supply chain changes will be the ones utilizing cutting edge tech, and your marketing should tout any new upgrades in this area. Jeri Frank, Co-Founder & CEO of STRATAFOLIO, says developers can use technology to collect data to “make good decisions throughout all phases of the building life cycle,” and telling that story through video marketing can set you above the rest.
Green features get noticed. Home buyers and sellers are becoming more eco-conscious, especially when it comes to energy efficiency. Nearly half (48%) of real estate agents said that “homebuyers are increasingly prioritizing energy efficiency in their home search,” according to HomeLight. Zillow even claims that home listings including details “such as programmable thermostats, double-pane windows and smart sprinklers or lights” could sell faster than those without them, so keep this in mind when promoting properties. Make sure to highlight their green features, especially on social media with relevant hashtags such as #energysaving and #smarthome.
One of the things that makes the real estate industry so exciting is that it’s in constant flux. Successful marketers in this field follow trends as they develop strategy and tactics, to ultimately gain their audiences’ trust and business.