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Lecture 1 Real Estate Marketing
Lecture 1 Real Estate Marketing
Lecture 1 Real Estate Marketing
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Property
There are two types of property. In legal terms, all property will be
classified as either personal property or real property. This distinction
between types of property comes from English common law, but our
modern laws continue to distinguish between the two.
Each type of property is treated differently under the law. There are many
different types of laws that specifically pertain to personal property, and
many other types of laws that pertain specifically to real property.
Personal property is movable property. It's anything that can be subject
to ownership, except land. Real property is immovable property - it's
land and anything attached to the land.
Normally, a piece of property can be easily classified as either personal
property or real property. The difference between the two is usually fairly
straightforward. However, sometimes it's a little harder to categorize
property. Let's look at one example.
Let's say that I buy lumber and other building supplies, such as a saw, a
hammer, and some nails. These supplies are personal property. They're
moveable and they belong to me.
Next, I use these items to build a shed on my land. Is this shed personal
property? No. The shed is real property because it's attached to, and now
part of, my land. Any leftover building supplies are still personal property,
like my saw and hammer. But anything that's actually part of the shed is
now real property.
Personal Property
Let's take a closer look at why this is. Let's look at the types of items that
are classified as personal property.
Personal property includes possessions, of really any kind, as long as
those possessions are movable and owned by someone. Personal property
isn't affixed to or associated with land. These moveable items are
sometimes known as chattels. The law regarding chattels includes those
laws covering possession, gifts, lost property, abandoned property, and
stolen property.
It's helpful to note that personal property includes both tangible and
intangible items. A tangible item is an item that can be felt or touched.
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Office furniture
Business equipment
Business vehicles
Business goods
Stocks
Bonds
Intellectual property
Money
Real Property
The key difference between personal property and real property is that
real property is fixed permanently to one location. This includes land and
anything that is built on the land. It also includes anything that's growing
on the land or that exists under the face of the land. For a business, real
property includes immovable property that the business owns, such as:
Land
Buildings
Crops
Mineral rights
For example, let's say that I'm in the farming business; I own a large piece
of land. On the land, I have a house, a barn, a grain silo, and a stable.
Each of these items is a piece of real property, because these items are
attached to the land.
Since real property includes everything growing on my land, my real
property includes my crops. Once cut, these crops become a moveable
good. But while these crops are growing on my land, they are a part of my
real property.
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increased
cost
associated
with
reaching
out
to
your
trustworthiness
when
marketing
to
new
clients,
Retaining residential clients will also benefit you with consistent, though
less frequent, revenue flow. Show your buying and selling statistics to help
establish long-term client relationships and underscore that the positive
experience they've had with you will continue with future purchases. Print
these numbers in promotional brochures and fliers, as well as in enewsletter blasts to your contact lists.
Create Public Awareness
Branding is critical in most businesses, but particularly in real estate
where the competition is fierce. Not only are you competing with other
real estate businesses, but you're potentially losing the business of "do-ityourself" buyers and sellers who work independently. Make your brand
well known in your local area to attract the attention of buyers and divert
them from your competitors. One way to do this is to sponsor community
events and run ads in home decor sections of newspapers and magazines
as well as on television stations such as HGTV.
Solidify Reputation
Your marketing materials should stress the qualities buyers look for in a
real estate agent, including responsiveness, honesty, a cheerful demeanor
and tough negotiating skills. Your campaigns should emphasize your
professional
ethics
and
note
any
membership
in
professional