The 14-Step Plan: Effective Marketing to Increase Seller Property Sales

This chapter, within the course “Professional Real Estate Marketing: The 14-Step Plan to Increase Sales,” focuses on maximizing seller property listings to increase sales and attract more clients. It represents a strategic investment in understanding and applying marketing tools and techniques to transform ordinary property listings into a source of opportunities and sales.

The chapter’s significance lies in its data-driven and statistical methodology, presenting a 14-step action plan. This plan is an integrated strategy designed to achieve specific goals, from preparing and pricing properties strategically to using marketing technologies such as Interactive Voice Response (IVR) systems. The systematic application of this plan enables real estate marketers to measure and evaluate the performance of their marketing campaigns and identify effective channels for attracting potential clients.

The chapter aims to equip participants with the knowledge and skills to implement a comprehensive and effective marketing plan for each listed property, regardless of market conditions, focusing on:

• Understanding the importance of integrated marketing for property listings in increasing sales and attracting new clients.
• Mastering the 14 steps of the marketing plan, from property preparation and pricing to using digital tools and targeted marketing.
• Developing innovative marketing strategies to adapt marketing plans to the characteristics of each property and target audience.
• Measuring and evaluating marketing performance using appropriate measurement tools.
• Using technology in real estate marketing, such as Interactive Voice Response (IVR) systems, to increase sales.

Chapter 4: The 14-Step Plan: Effective Marketing to Increase Sellers’ Real Estate Sales

Introduction: The Importance of Integrated Marketing for Sellers’ Real Estate

In the competitive real estate market, merely listing a property is insufficient. To maximize value for sellers and increase deal completion opportunities, a comprehensive and integrated marketing strategy must be adopted. This chapter presents the 14-step plan, a proven methodology aimed at maximizing exposure to the target property and attracting the largest segment of potential buyers. This plan is not limited to favorable market conditions but should be consistently applied to all listed properties regardless of market status. The primary goal of this plan is to increase the number of inquiries about listed properties, even after the property is sold, to generate more potential clients and refer them to buying specialists or direct them to other property listings.

Why the 14-Step Plan?

This plan is based on modern real estate marketing principles and a deep understanding of consumer behavior in this field. By applying these steps, the following can be achieved:

• Increased property exposure: Reaching the largest segment of potential buyers through multiple channels.
• Attracting qualified clients: Targeting clients looking for the type and location of the property being offered.
• Improving customer experience: Providing clear and comprehensive information about the property.
• Measuring and improving performance: Tracking the results of each marketing step and continuously improving them.
• Maximizing property value: Highlighting the property’s features and increasing its attractiveness to buyers.

The 14-Step Plan in Detail:

1. Staging and Pricing Strategies:

   • Principle: Pricing plays a crucial role in attracting potential buyers. Overpricing deters buyers, while underpricing may raise doubts about the property’s value. A comparative market analysis❓❓ (CMA) should be conducted to determine a competitive price❓ that reflects the property’s true value and current market conditions.
   • Formula:
     • P = CMA + A - D
     • Where:
       • P = Proposed Price
       • CMA = Comparative Market Analysis
       • A = Value-Adding Adjustments (e.g., renovations and improvements)
       • D = Value-Reducing Adjustments (e.g., required repairs)
   • Staging: Arranging and decorating the property to make it appealing to potential buyers. Environmental psychology studies show that the surrounding environment significantly affects our perceptions and decisions. Staging the home makes it appear more spacious, clean, and attractive, increasing buyers’ desire to purchase it.
   • Practical Example: Before listing the home for sale, remove clutter, make minor repairs, paint walls in neutral colors, arrange furniture attractively, and add simple decorative touches.

2. “For Sale” Sign and Directional Signs:

   • Principle: A “For Sale” sign is a traditional and effective marketing tool to attract the attention of passersby in the neighborhood. Directional signs guide potential buyers to the property, especially if it is located in an unclear area.
   • Application: Place a clear and readable “For Sale” sign in a prominent location on the property. Use directional signs at key intersections to guide buyers to the property.

3. Flyer Tube/Box and Neighborhood Flyer Distribution:

   • Principle: Providing physical information, such as real estate flyers, allows potential buyers to take the information with them and review it later. Distributing flyers in the neighborhood targets local residents who may be interested in buying the property or know people looking for a property in the area.
   • Application: Place a tube or box containing detailed real estate flyers about the property. Distribute flyers in mailboxes or on doors in the neighborhood.

4. In-House Flyers/Home Book/Comment Cards:

   • Principle: Providing visitors with detailed information about the property during their visit. Comment cards allow visitors to provide feedback and suggestions about the property, helping to improve the marketing strategy.
   • Application: Place attractive real estate flyers in prominent locations inside the house. Prepare a “Home Book” containing additional information about the property and surrounding amenities. Place comment cards to encourage visitors to provide feedback.

5. MLS (Multiple Listing Service):

   • Principle: The MLS system is a comprehensive database containing information about properties for sale. Listing the property on the MLS makes it available to all real estate agents and potential buyers.
   • Application: List the property on the MLS as quickly as possible. Ensure that the information in the listing is accurate, comprehensive, and attractive.

6. Web Listings with Virtual Tour:

   • Principle: Most buyers start their property search online. Providing a detailed web listing with a virtual tour allows potential buyers to inspect the property remotely and determine if it is worth visiting.
   • Application: Create an attractive web listing for the property on your website and popular real estate websites. Include high-quality photos and an interactive virtual tour. Include an Interactive Voice Response (IVR) system number in the property description field.

7. Showcasing the Home in a “Marketing Tool” (Calendar, etc.):

   • Principle: Using innovative marketing tools such as calendars or other promotional materials to increase awareness of the property.
   • Application: Create a calendar or other promotional material displaying photos and information about the property. Distribute these materials to potential clients.

8. Open House Program:

   • Principle: Organizing an open house allows potential buyers to inspect the property in a comfortable and informal environment.
   • Application: Plan and implement an effective open house program. Advertise the open house widely. Prepare the home well and provide detailed information to visitors.

9. Email/Fax/Podcast (with your website address):

   • Principle: Using digital communication channels to reach potential clients.
   • Application: Send emails, faxes, or podcasts to your list of potential clients. Include information about the property and your website address.

10. Tracking Showings/Collecting Feedback:

    • Principle: Tracking the number of showings of the property by potential buyers and collecting their feedback about the property. This helps identify the strengths and weaknesses of the property and the marketing strategy.
    • Application: Record the number of showings of the property by potential buyers. Ask visitors to provide their feedback and suggestions about the property.

11. Target Marketing:

    • Principle: Targeting specific groups of potential buyers who are likely to be interested in the property.
    • Application: Identify the target groups of potential buyers. Develop a customized marketing strategy for each group. For example, if the property is located near a good school, target families with children.

12. Weekly Seller Updates:

    • Principle: Providing the seller with regular updates on the property’s status in the market and the results of marketing efforts.
    • Application: Send the seller a weekly report that includes the number of showings, feedback collected, and any changes in the market.

13. Property Caravans:

    • Principle: Organizing a group tour for real estate agents to visit the property.
    • Application: Organize a group tour for real estate agents to visit the property. Provide them with detailed information about the property.

14. Creative Marketing Ideas:

    • Principle: Using innovative marketing ideas to attract the attention of potential buyers.
    • Application: Develop creative marketing ideas to attract the attention of potential buyers. For example, you can organize a contest to win a prize or host a special event at the property.

Interactive Voice Response (IVR) Systems: A Technology to Enhance Real Estate Marketing

Interactive Voice Response (IVR) systems are a valuable technological tool in real estate marketing. These systems allow for recording a detailed audio description of each listed property, which potential clients can listen to at any time.

• How it Works: A unique phone number is assigned to each property and placed on all marketing materials (signs, flyers, websites, etc.). When clients call the number, their phone number is recorded and sent to the team via pager. This system allows for identifying the property the client inquired about.
• Benefits of Using IVR:
  1. Consumer Convenience: Consumers prefer calling a voice recording rather than speaking directly to a sales representative.
  2. Qualified Leads: Callers to the IVR system are considered qualified leads because they are:
     • Interested in buying a home.
     • Interested in a specific type of home.
     • Mostly do not have a real estate agent if they are calling from signs.
  3. Improved Customer Service: Service is available 24/7.
  4. Increased Productivity: Saving the team’s time by automating the initial information delivery process.
  5. Increased Sales: 10-20% of calls can be converted into closed deals.
  6. Gathering Important Information: Collecting contact information of potential buyers and identifying the property they inquired about.
  7. Powerful Marketing Tool: The IVR system can be presented as one of the benefits your team offers to potential sellers.
• Advertising Properties Using IVR: IVR numbers should be included in all property marketing materials.
• Recording Audio Advertisements: The audio advertisement for the property should be recorded in the IVR system as soon as paperwork is received from the listing consultation. The recording should be done by someone with a pleasant and clear voice. The recording should include:
  1. Address
  2. City
  3. Number of bedrooms
  4. Number of bathrooms
  5. Square footage
  6. Notable features
  7. School information
  8. Neighborhood information
  9. Team’s website address

Important Note: Do not include pricing information in the recording. If the system allows consumers to press a key to find out the price, they will be transferred to a live person in your office. Even if they don’t press the key, not providing them with the property price gives your buying specialists an ideal conversation starter when calling them back.

• Call Tracking: IVR systems provide reports on call activity, allowing you to identify the marketing sources that are bringing in leads.
• Returning Calls: The IVR system will send calls to the lead coordinator or pager. The buying specialist will call the buyer back and use IVR scripts to convert leads into a buying consultation.

Conclusion:

The 14-step plan is a comprehensive and integrated methodology for increasing sellers’ real estate sales. By applying these steps, real estate agents can maximize value for sellers and increase deal completion opportunities. Using tools like the Interactive Voice Response system increases the effectiveness of this plan and helps reach a broader segment of potential buyers. Remember that committing to implementing all steps is key to achieving success in the competitive real estate market.