YOUNG PROFESSIONALS NETWORK

Exceeding Marketing Expectations in a

Shifting Market
By: Brian Craft, Marketing Director; The Coffey Group Fine Homes International

M
arketing in ƒ Leverage Digital Marketing. Digital marketing is
the real estate a powerful tool for real estate marketers. Use social
sector can media platforms, email marketing campaigns, and
already be a online ads to reach potential buyers and sellers. You
challenging mission, can also create virtual tours of your properties to
especially in a shifting give buyers a better understanding of the property.
market. A shifting market A Matterport tour is fantastic, but today’s buyer
is characterized by wants to connect in a more authentic way. Try
fluctuations in prices, arriving early to an open house and going live on
demand, and supply of social media to give a glimpse into the home. This
properties. As a real estate will not only peak the attention of potential buyers,
marketer, you must stay but increase your visibility, increase traffic, and
ahead of the curve and adapt to these changes to remain show that you are thinking outside the box.
competitive. The main component I weave into all of
the messaging I disseminate is a sense of assurance and ƒ Price competitively and realistically. In
calm. I have broken it down into digestible strategies that a shifting market, pricing is critical. To remain
will help you thrive in a shifting market. competitive, you must price your properties
competitively. Research the market and analyze the
prices of similar properties to ensure your pricing is
MARKETING STRATEGIES THAT WORK in line with the market. You can also consider offering
ƒ Understand the market - keeping your thumb incentives such as closing cost assistance or a home
on the pulse of the market. To effectively warranty to make your property more attractive.
market real estate in a shifting market, you must
first understand the market. Keep an eye on trends,
ƒ Highlight the potential for growth. Buyers
are always looking for properties with potential
price fluctuations, and other indicators that can
for growth. If the property is located in an area
affect the real estate market. You can use data like
that’s undergoing redevelopment, highlighting
the statistical reports provided by RASM, local,
the potential for increased property values in the
and national publications, and industry reports to
future, this also goes for things that they may not
keep yourself informed. Understanding the market
see when they visit the property for a showing,
will help to make informed decisions and create
such as community events like a weekly Farmer’s
marketing strategies that are relevant.
Market or an annual Jazz Festival.
ƒ Target and segment your audiences. It’s ƒ Exceed their expectations. Customer service
important to target your marketing efforts toward
is an essential part of real estate marketing. In a
the right audience. For instance, if you’re marketing
shifting market, providing excellent customer service
a luxury property, you should target high-net-worth
can help you stand out from the competition. On my
individuals who can afford it. Similarly, if you’re
team, The Coffey Group Fine Homes International,
marketing a starter home, you should target first-
it is our standard to exceed all their expectations
time homebuyers who are looking for affordable
and to provide the ultimate experience with a Ritz-
properties. Understanding your audience will help
Carlton approach. Respond promptly to inquiries,
you create more effective marketing campaigns.
provide accurate information, and be transparent
With the proper tools, it is easy to target feeder
about any issues with the property. Providing
markets, local areas, and proven demographics.
excellent customer service can help you build a
ƒ Focus on value. In a shifting market, buyers positive reputation and increase referrals.
are looking for value. They want to get the best
Marketing real estate in a shifting market can
deal for their money and to work with an actual
be challenging, but it’s far from impossible. By
human who has a vested interest to help. You
understanding the market, targeting your audience,
can capitalize on this by focusing on the value
focusing on value, leveraging digital marketing, pricing
of the home. Highlight the unique features of
competitively, highlighting the potential for growth, and
your properties, such as location, amenities,
providing excellent customer service, you can create
and upgrades. Advising your client with proven
effective marketing campaigns that attract potential
statistics on staging their home, or having an in-
sellers and buyers and build your brand through the
house staging company with design boards that
most powerful lead generation tool; word of mouth. •
you can easily share, can be a huge value add.

22 | ELEVATE [MAY 2023 ]