In this chapter:

> Know who the buyers are

> Build your personal brand

> Create your marketing plan

> Find the buyers and how buyers find you

8. Marketing Fundamentals

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KNOW WHO THE BUYERS ARE

• Success of buyer’s representatives is determined in large measure by how well they understand who buyers are in their respective markets

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KNOW WHO THE BUYERS ARE

First-time home buyers

• Younger (median age is 30)

• Married

• Earn, on average, $61,600 each year

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Repeat home buyers

• Older (median age is 48)

• Married

• Earn more (median annual income is $88,100)

KNOW WHO THE BUYERS ARE

In practice, however, there are as many different

types of home buyers and buyer motivations as there

are types of real estate and real estate markets.

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BUILD YOUR BRAND

• Are you easy to remember?

• What is your real estate niche?

• Hobbies and interests?

• What makes you unique?

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BUILD YOUR BRAND

118Dana Moos: B&Bs, food, and photography

BUILD YOUR BRAND

118JR Siewert: 3rd generation real estate company

BUILD YOUR BRAND

118Lisa Sutton: Pet-friendly real estate professional

CREATE YOUR MARKETING PLAN

• Define objectives and goals

• Target specific audience

• Identify your point of differentiation

• Refine your message

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• Determine the best media

• Create your action plan and schedule

• Prepare a detailed budget

• Measure your results

FIND BUYERS & HOW BUYERS FIND YOU

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Your Web Site—More Than the Cost of Doing Business

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• Functional necessity

• First step for 1/3 of home buyers was searching for properties online

• Some buyers may incubate for up to 24 months before contacting agent

Additional Marketing Outreach Methods

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