Real Estate Sales Marketing Plan

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PL Printed in the United States of America 12 13 14 10 9 8 7 6 5 ISBN: 978-1-4277-3824-0 / 1-4277-3824-6 PPN: 1926-1502 4 3 2 1 E SalesMarket101REPro2E.indb 2 2/21/2012 11:40:21 AM c o n t e preface n t s vii SA acknowledgments 1 Part 1 ix Real Estate Marketing 1 chapter one Real Estate Marketing 2 Key Terms 2 What Is Real Estate Marketing 3 The Four Ps and the Marketing Mix 6 Summary 10 M chapter two The Marketing Concept 14 PL Key Terms 14 Marketing Concept 15 Roles Customers Take 17 Marketing to Role Players 19 Building Customer Relations 19 Building a Company Image 21 Your Competition and the SWOT Analysis 23 Exogenous Shocks 25 Problems that Occur When Implementing the Marketing Concept Summary 28 25 chapter three Market Research 31 E Key Terms 31 The Reasons for Market Research 32 Individual Agents versus Large Companies Performing Market Research 38 Focus on Segments 44 Finance and Marketing 45 The Fed 46 Summary 49 38 iii SalesMarket101REPro2E.indb 3 2/21/2012 11:40:21 AM iv contents chapter four Data Analysis, Drawing Conclusions, and Motivation 52 SA Key Terms 52 Steps in Analyzing Data 53 Data Analysis 53 Drawing Conclusions 54 What Motivates Prospects 57 Summary 62 chapter five Target Marketing 65 M Key Terms 65 Why Bother with Segmentation 66 Categories that Segment the Total Market 68 Steps to Selection of a Target Market 74 Listing Procedures and the Target Market 74 Alternative Strategies 77 One Last Point: Markets Constantly Change 79 Summary 79 chapter six Product and Pricing Strategy 83 PL Key Terms 83 Product Strategy 84 Pricing Strategy 86 Price and Inflation 88 Agents React to Inflation in Different Ways 90 The Purpose of the Property Price 90 Enhancing a Property’s Value 92 Factors Influencing Property Pricing 94 Your Competition and Property Prices 94 Pricing, Product, and Your Target Market 95 Summary 95 Pricing Your Services 98 Key Terms 98 Personal Pricing Decisions 99 Real Estate Companies: Service-Pricing Objectives SalesMa