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REAL ESTATE ADVERTISING AND MARKETING

VIEWS: 36 PAGES: 52

									The Real Estate buyer is the ultimate comparison shopper
  as, home is the most valuable purchase for everyone
However, 62% of the
buyer choose to buy
from the first agent they
talk to!


That means if a
prospect picks up the
phone and calls our
competitor our
chances of capturing
their business have
almost …. gone!
So, let‟s reach our
prospect before
our competitor


Bottom line….the
one who gets to the
prospect first has a
stronghold on that
prospect and will
most likely win the
business
Donald Trump, the most successful
builder has spent his entire life fine-
tuning his understanding of his target
audience


         He says “I like tall, skinny
         buildings because that‟s what
         my public likes‟.

         “I give people 40- foot ceiling.
         My competitors give them 8-
         foot ceilings, and they wonder
         why I succeed”
A recent survey throws some light on what home
     buyers in Kolkata consider important!
   Choice of location
• Depends on fondness to surrounding
  and affordability.
• In few cases ancestral home or
  community decides the location.
• Easy accessibility and surrounding
  infrastructure makes the apartment
  more preferable
  Residence types

• Facilities
  matching with
  lifestyle is
  preferred.

• Like minded
  people in the
  building & the
  surrounding is an
  advantage.
    Income and
    Affordability

•   Family
    Requirements &
    affordability plays
    the key role in
    choice of location
    and the area of
    the apartment.
    Floor Preference

•   If lift is not there, the
    apartment in the lower floors
    are preferred.
•   Less accessibility to natural
    light and ventilation makes the
    ground floor a second choice;
•   The heat gain factor in the top
    floor is the most vital to make
    it a last choice whether the lift
    is provided or not.
•   The in between floors are
    more acceptable to people.
Light, Air and Space Orientation

• Well illuminated and
  ventilated rooms are
  preferred.
• Provision of spaces for
  modern equipments like
  washing machine, micro-
  oven etc. are necessary
  these days.
• Vastu compliant
  apartments are preferred
  over non- vastu compliant.
 Availability of
 Surrounding open
 space and semi
 open Space

• Land spacing,
  nearby parks,
  open spaces,
  meeting spaces,
  water bodies
  greatly effect
  buyers perception
  of the property
        Open Spaces : doors, windows
• Openness and more space is always welcome
• The position of doors
  and windows are the
  factors.

• Flexibility of arranging
  furniture is desired.

•    Efficient use of
    common area within
    and outside the
    apartment are
    preferred
Real Estate: Economics of
demand and potential

• Marketing is all about
  creating the demand
  for our project.

• Demand is a function
  of price , income,
  tastes and
  competition (Supply
  & Price).
                                D= ƒ ( P,I,T,C )
PRICE                     INCOME                     TASTES                      COMPETETION
Buyer first needs to      Money to buy comes         Buyers tastes are           The price of the
know whether he can       from                       greatly influenced by       competition.'
afford it. Are cheaper    1. Income                  brand loyalty, facilities   Alternatives‟ will greatly
options available.        2. Loans and financing     and positioning of the      influence the demand
                                                     project advertisement       for our project




      What our Communication and advertising needs to do
1. Target the right       Always target buyer one    Use the notion of           1.Keep an eye on the
audiences                 step higher in the         fashionable location ,‟     competition.
2. Justify asking price   income strata, since the   attract more buyers.        2. Build buyer
3. Present easy           availability of loans       Despite higher prices      preference by
financing option.         make their buying          there will be higher        positioning our project
                          power greater than their   demand                      as the better choice.
                          incomes
    Future expectations can create
    demand now!

•   Rise in the income: Buyers feel
    their income will rise in the future,
    they will demand better homes and
    features-now, rather than later.

•   Price-rise: This is a self fuelling
    scenario: Expectations of price rise
    in future may encourage people to
    buy now. Consequently this creates
    more demand which again causes
    the current prices to rise.

•   Transport and infrastructure:
    New roads or transport links
    increase attractiveness of property.
Environmental policies: For Example, “Green Belt Policy” increases
demand of subject area because buyers are guaranteed Continued
existence of a pleasant view are to water body Green belt / forest etc.

Government / Bank
Policies: Increased
interest rates make
loans more expensive
and reduce buyer
demand.

So let us plant
stories in the
newspaper which
an create demand
Pre marketing should communicate the
 potential value of the unbuilt and the
                unseen.
Architecture “WOW” can create
            Demand
Let us Differentiate.
Communicate.
Innovate.

Architectural design
should deliver “WOW".
It should be so cool
and neat that each
buyer tells five friends
and it becomes the talk
of the town.
Let us Create distinctive architecture. and : Promote it !


Just showing a big picture of our
building in the Ad and hoarding is not
communication.
We should Integrate our architecture
and design Philosophies in all our
communications. Let‟s use it in AD
Campaigns.
Use it as a Back drop in promotions/
events. Inspire Journalists to write
about it.
And most of all : make sure our
target understands it.
Let us promote a vibrant Architecture culture:
Responding to market needs


  Fashions and tastes
  change rapidly. Users
  get „bored‟ even
  quicker. Customers
  increasingly seek out
  the “NEW”.

  Change the exterior

 Update public areas

 Landscape

 Exhibit Art
 Branding :Why should we bother about it
• Branding creates „trust‟. Buyers choose us emotionally, not just for
  logical or intellectual reasons.
• Branding help us „fence off‟ the competition and protects our market
  share.
• A brand is some thing that
  nobody can take away from
  us. Competitors may be
  able to copy our designs,
  trade secrets will leak to the
  competition…. But our
  brand will live on and
  continue to be uniquely
  ours.
 Marketing is the cause : Branding is the effect
• Branding is all about creating a unique and independent identity.
• Buyers have too many choice and not enough time. They want their
  choice to be made easy ad reassure able.
  Brand is a promise, a
  shortcut for a prospect to
  know how to think about
  us and what we stand for.

• Branding our project
  increases it‟s perceived
  value and maximizes the
  realisation of per square
  foot price.
    Branding our Company
•   Let‟s differentiate
    ourselves

•   It‟s important to be
    the first

•   Let‟s use one word
    or Phrase

•   Let‟s tap Emotions
              Branding our Project
• Develop a name that
  expresses the buildings
  Character and conveys the
  experience of living there.

• Preferably extend it to the
  neighborhood in which the
  property is located-especially if
  it isn't considered
  residential/commercial or if it
  has an image problem

• Finally: Reinforce the brand
  consistently throughout the
  marketing program and
  medias.
Advertising: What works. And doesn't.

• Dangerous Myth 1:

  The circulation of the
  publication is the most
  important factor.

  Forget about Circulation
  and readership figures,
  what matters is the
  people who read the
  publication.
• Dangerous Myth 2:

  You have to run a series of
  ads before they become
  successful

  Here‟s a reality check… If
  our ad doesn't work the
  first time (i.e. generate
  high quality leads), it wont
  work after the second …
  third…fourth etc. If it
  doesn't work we need to
  either improve the ad, or
  decide that the publication
  just isn't right.
•   Dangerous Myth 3:

    We need large ad to get
    noticed

    Until we‟ve run the first ad ,
    we haven't got any idea
    whether our ad is a winner .

    Let‟s place a small ad first. If
    we don‟t make any money
    from the ad we can cut our
    losses. However if our small
    ad works then we should is
    increase the size of our AD
    gradually. The stop increasing
    the size the moment our
    responses and returns equal
    our costs.
• Dangerous Myth 4:

  Our ad must not have
  too much words and
  have lots of white space

  Information is the
  bedrock of all home
  buying. We cannot hope
  to get a high response
  to our advertising if we
  don‟t give people
  enough reason to
  respond
INFORMATION and PERSUATION is
    the name of the reality game.
Rational and Emotional appeals :
        What to do when

Rational,
comparative
appeal to the
intellect are
important In a
new un familiar
market.
Emotions are as
important as buying
decisions. Buyers
have liked the way
homes appealed to
their Pride, Sense
of image or even
Covetous desires to
just have more than
our friends and
relatives.
Realtors must design their ads according to the market‟s
 level of knowledge and motivation about the project.

 Studies shows that at the start
 of our advertising, „Rational‟
 Ads – that‟s what where and
 why‟s of our project are more
 effective. As market grows
 more familiar with our project ,
 Emotional ads can capture
 unmotivated buyer‟s attention
 and make them feel good
 about it. „Information‟ however
 remains the bedrock for all real
 estate communications.
Real estate buying is a high 'information based' purchase.
 Comprehensive information is the
 bedrock of all communications.
 But Information needs Space and
 time. So rational messages are
 best presented in Guide books
 brochures, websites and CD-
 ROMs.
 Emotion on the other hand which
 is an immediate reaction is best
 tapped through Newspaper ads,
 Hoardings and TV spots.
 A judicious blend, depending on
 the medium, is most effective.
Finally. Position.
Position.

Newspaper Advertising
is all about Position.
However great our Ad ,
if it's not seen, it's not
read. Which positions
are the best? The front
page obviously. Then
the back page. Next is
the upper half, right
hand
     “Buyers respond to warm, emotional words,
                not cold, hard facts”
Prospects never buy based
on logic alone. They always
buy emotionally and them
justify their purchases with
logic.

Let‟s sprinkle our ads with the
words like Spacious, striking,
stunning, lavish, charming,
scenic, dramatic, comfortable,
quite street, cozy, and other
powerful emotion provoking
words and phrases.
                    Brochures.
    Buyers want information, not pretty pictures.

The 'slick' Real Estate
brochure often alienates
and scares prospects
away. So do "I'm the Best",
"I'm the biggest" type.

Buyers don't care about us.
They care about them.
What's in it for them?
Buyers want everything
about the project in a
Brochure?
They want information so that they can be reassured
about their choice since a huge sum of money is involved.
A good Real Estate brochure instills confidence in Buyers
that we're the best choice.

Some more things it
should do : Serve as a
textbook for our Sales
people; Provide content
for Newspaper articles;
Establish our Market
Authority.
 Interactive Multimedia: Persuade through Participation
Most CD-ROM presentations are
limited to 3D animations. Attractive
as they are, they remain a passive„
viewer experience.

Interactive presentations on the
other hand, where the Viewer
makes a conscious effort, greatly
enhance Buyer involvement and
understanding of our projects like
never before.

The Buyer is a willing participant.
He likes the feeling of being in
'control: It removes the uneasy
sense of being 'sold.
So, how do we find the' right
people? Let‟s go to the
Calcutta Telephones
directory website and search
for names in our area code.

Other Direct marketing tips :
Keep it personal; Letters are
more effective than
brochures; and finally: Let’s
never forsake credibility for
cleverness.
   Direct Marketing. Who. When. What.

Who we send it to is thrice
as important as what we
send!

Great Mailings to the
wrong people don't work.
But even Ordinary mail
shots to the RIGHT
prospects , at the right
time, hit home.
Internet Marketing: Unlimited Space & Immediacy
The power of the web lies in
the unlimited space available.
Project images are most
important. Even the most
compelling description of a
property does not generate
as much interest as a nice
image. Unlike print where
each photograph would take
up valuable space, we can
include many pictures on our
web site.
     6 main reasons Realtors have website
•   Cost savings

•   Improved corporate image

•   Reach buyers in India and
    globally that traditional medias
    can't

•   Convenience of „Web Site‟ being
    open 24*7

•   Level playing field With proper
    planning, deign and promotion WE
    can showcase a small project as
    effectively as a high-profile one.

•   Unlimited space and Multimedia
    support Zoom in to see project
    detail.
 Exhibitions: Results are all in the Follow-up

The day after the
show, all leads
we've collected -
are worth 100% of
their value. A
month later they're
worth half that us.
•   Stand Out : We're in an
    environment that is
    extremely competitive.
    The first thing we must
    do, by virtue of our
    creativity, is to cut
    through the clutter.

•   Clarity and Simplicity :
    Good design relies on
    clarity - the main project
    features should be
    immediately obvious.
•   Project + Personality
    : Sell both our Project
    and our Company's
    personality.
    Successful stalls do
    both.

•   Best stall locations:
    Study how traffic
    might move through
    the exhibit hall, and
    pick our location
    accordingly.
•   Name awareness: Many
    people visit stalls simply
    because they're familiar with
    the name. To boost our name
    awareness at shows, let‟s
    repeat our name whenever
    and wherever we can. Add it
    to graphics, literature, bags,
    pre-show mailers.

•   Make our stall "full-service,
    not "self-service." Spreading
    brochures where attendees
    can just grab them and walk
    away defeats the very purpose
    of our exhibition - which is to
    interact with visitors
    Marketing at Site: Model Flats and Sales offices
             The Final Sale Makers. Or Breakers.
ALL deals are made or lost at site.
All our marketing efforts aim to
channel Prospective buyers to
our project site. But poorly
trained Sales staff, badly
designed Sales offices and
unimaginative Model Flats are
rather waste of marketing money
and effort.

Buyers love to See, Touch and
Feel. The Physical world is Real
Estate's best Advertising medium.
Every Model Flat/Sales
office should tell a 'Story“

They should create an
'Experience:

And finally, they should
"Connect" with the
buyers' aspirations.

Let‟s Integrate 'Physical
space' into our Marketing
strategy to create a
seamless brand
experience.
      Model Flat: Staging to bring top Value.
Keep it Uncluttered , because most buyers look for Space!
A model flat is not about style or decoration, It's about 'Staging'.
To make it desirable to maximum
number of buyers it has to cater
to all tastes.

'Depersonalize' our Model home.
This way buyers can "see" the
home as it will look with their
possessions.

Keep the walls light and paint
the ceiling a color lighter than
the walls for spacious feel.
Strategic mirrors help too
Let‟s not display too much furniture and always size furniture for
the room. If you have a small room, use smaller-sized furniture.

Long, thin lamps and plants can help us achieve a sense of
greater height

Make buyers Welcome with
soft music and warm, yellow
flowers at the entry area.
Turn on all lights
They prevent harsh shadows
from sunlight and brighten up
any dim areas. The Model
Flats look more homey and
cheerful with lights on.
These are some
of the tips to
market &
Advertise our
Real Estate
Project.




Thank You

								
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