real estate marketing questions

Real Estate Marketing Questions & Answers

This page will help you find short answers to frequently asked real estate marketing questions. The answers will be as short as possible and are based on the many articles from my blog.

How to Apply the 80/20 Rule in Real Estate?

Real estate marketing, as well as marketing in other areas, comes down to traffic, conversion, and economics (your offers).

For all three, you can ask yourself the question ‘what 20% of my traffic, conversions, and economics (offers) bring me 80% of my results?’

Do you want to know how I came to this answer? Read the full article here

How to Do Direct Mail Marketing?

Identify the testable copy elements of your direct mail campaign (there is the copy that goes on top of the mailer and there is the actual copy (content) of the letter.).

Identify/research the target audience, and collect further information about it such as, for example, addresses via different tools such as Listsource (link).

Create different versions of your copy, and create first a digital marketing campaign with Facebook Ads and/or Google Ads to test your copy.

After that, you can start the direct mail campaign with the already proven copy.

Want to know how I came to this answer? Read the full article here

What is Real Estate Branding and is it always a good idea?

Branding is what you do once you have created a brand.

And a brand is the emotion that your customer feels when thinking about your service or product.

The feeling results from the type of customer experience you create.

So, branding (e.g. logo creation, etc.) without a good customer experience often backfires and is inefficient.

It’s not the best idea if you haven’t focused first on customer experience.

Want to know how I came to this answer? Read the full article here

How to create better real estate business cards?

The business card to customer conversion rate is 4.3%.

To get this conversion rate and even increase it, you will need to make sure that you optimize the different steps involved when using business cards, from the perspective of the receiver, which is:

  • Receiving the business card (do it in the right frame or setting so you get remembered)
  • Storing it first in a pocket, wallet, or handbag (making the receiver scan the QR code before storing it)
  • Taking the business card out of the pocket, wallet, or handbag and passing the contact information over to some sort of software (again, a QR code would get rid of this step)

The best way is having a combination of physical business cards but with a QR code embedded.

Want to know how I came to this answer? Read the full article here

What are the hidden costs of inbound marketing (content marketing)?

Optimistically speaking, it takes about 6 months of content production on a regular basis to see the first results of a blog or other content channel producing 2 pieces of content per week.

These are 48 pieces after 6 months.

Assuming it takes you 3 hours to create each piece plus an extra hour to promote each piece, your total costs after 6 months would be $11, 712 at an hourly rate of $100.

Free inbound marketing or content marketing only exists if you ignore the fact that you will spend your valuable time in producing the content.

Want to know how I came to this answer? Read the full article here

How to Write a Property Description for a Fast Sale?

Really do the work and convert the features of a property into benefits and don’t confuse them.

To understand the benefits, you need to know the needs, greeds, and pains of your potential target customers.

Combine a great benefits rich description with good pictures to which you also add benefits in the short text description.

Structure the picture sequence with the help of the overall story that is relevant to your potential target customers.

You can get an additional edge when using drone photography.

This depends on your market and potential customers.

Want to know how I came to this answer? Read the full article here

How to Do Real Estate Content Marketing?

To increase your chances of success, you will first need to work out an effective content marketing strategy.

For that, you need a good understanding of the pains, needs, and problems of your potential and current customers.

Once you know that, you can create a customer journey based on the five different levels of product or service awareness, which are unaware, problem/need aware, solution aware, product aware, and most aware.

After this, you can brainstorm and then map out the content you will need to create for each stage.

Want to know how I came to this answer? Read the full article here

How much do real estate agents really pay for leads?

The cost per lead real estate agents pay ranges between $15 and $75.

This depends on many variables and factors such as your target audience, your marketing methods and channels you are planning to use and how your copywriting is that inform your conversion rates.

But the better question to ask that can give you a better basis for decision making would be what your cost per acquisition is.

Want to know how I came to this answer? Read the full article here

What are the benefits of native ads for real estate?

Native ads blend in and match the design, form and function of the website or platform where they are displayed.

They engage both hemispheres of the brain so they are ideally suitable for real estate offers.

The CTR of native ads is four times higher than that of display ads, so you pay roughly 4 times more per click for the latter to get the same results than for native ads.

Want to know how I came to this answer? Read the full article here

How to find motivated sellers in real estate using 80/20?

There are many different marketing methods out there that you can use, and you can use the criteria of time intensity, scalability and testability to analyze them and thus find the 80/20 in the different method.

The analysis can be done with a weighted decision grid.

Once you come to the point of having a winning campaign in the least time intensive, most scalable and most testable category for you, you can branch out to the other more difficult categories.

Want to know how I came to this answer? Read the full article here

Which is better - Zillow or Redfin?

Provided you want to sell on these platforms, Zillow wins against Redfin.

Additionally, Zillow’s fee structure is more transparent, home-value estimates are more accurate, and it gets more monthly visitors.

Should you happen to be a buyer, both platforms offer more or less the same functionality.

Want to know how I came to this answer? Read the full article here

Does video help me sell real estate?

Yes, it does.

The retention rate is higher, because 72% of customers prefer video when they want to learn about a product or service, and revenue can be grown 49% faster.

When you use video on real estate landing pages, it can increase conversions by 80%.

But you will need a good strategy though.

Without it, there is no guarantee that you will sell more just by producing real estate videos.

Want to know how I came to this answer? Read the full article here

Are virtual tours worth it?

They can benefit you greatly, when you use them as part of a digital sales funnel, and you are able to bring the whole real estate sales process into the digital world.

Unless a property listing has virtual images, 54% of buyers will not look at a property.

Also, properties get 87% more views with a virtual house tour.

So, they can increase your conversion rates significantly and in passing, you also adapt to situations where people prefer to avoid physical property showings.

Want to know how I came to this answer? Read the full article here

What is a real estate marketing plan and how to create one?

With a real estate marketing plan you describe your overall advertising strategy to reach particular business goals, how you reach your target market and potential customers, and how you generate leads.

In order to create such a plan, you determine your business goals, your value proposition, and your unique selling proposition.

All this will inform the marketing channels you will use.

Want to know how I came to this answer? Read the full article here

Does cold calling work in real estate?

Yes, it can work. You can get a conversion rate for meetings or appointments of 2% if you use them.

When comparing this number to other marketing methods, it’s not bad at all.

The success of cold calling depends highly on your sales skills and how good you are in making calls.

Want to know how I came to this answer? Read the full article here

How to market your home to foreign buyers?

You want to run your real estate business in a state with high diversity and high popularity as a tourist destination.

I refer to states such as Florida, California, Texas, Arizona, and New Jersey.

This will give you a higher chance of getting referrals from your local clients that you acquire through common real estate marketing campaigns, and that have more often a migratory background than other states.

Want to know how I came to this answer? Read the full article here

How much does it cost to stage a house?

On average, it costs $400 and by doing home staging you can increase the dollar value of a house between 1% and 6%.

Want to know how I came to this answer? Read the full article here

How to sell a house in 5 or 7 days?

To increase the chances of selling a house in 5 or 7 days, you need to meet five conditions:

  • Make a good first impression with the house.
  • Make a good first impression as the person selling it.
  • Price it between 2% and 5% below market value.
  • Make a good first online impression with the property listing.
  • Create persuasive scarcity with the offer.

Want to know how I came to this answer? Read the full article here

Do homes with pools really sell faster?

Generally speaking, no.

But if you happen to sell homes with pools in California, Florida, and Arizona, they usually can sell faster, because of a higher demand for them in these locations.

It not only depends on the pool, but also on the overall first impression, competitive pricing and if you can target the right audience for these homes in these areas on the right marketing channels.

Want to know how I came to this answer? Read the full article here

Which is better - Trulia or Zillow?

Zillow is slightly better for marketing purposes, but take into consideration that both have merged into one platform.

In terms of interface design and different types of property data illustration, they are still slightly different for certain end-users.

Want to know how I came to this answer? Read the full article here

How to make real estate lead magnets that convert?

A lead magnet is a magnet because it offers something (of opposite charge) that the potential customer is lacking, which implies a greed, pain, or need.

It can increase your website visitor to conversion rate and help you build an email list, which reduces your costs per lead on the long run.

To make one that converts it should:

…make the visitor see an immediate value in it
…make the visitor come back over and over
….be timeless to avoid updating it on a regular basis
… be tested via A/B testing to steadily optimize the conversion rate

Want to know how I came to this answer? Read the full article here

How to automate your real estate business?

To automate your real estate business, these are the steps involved:

  • Spot all the processes of your real estate business.
  • Put them in a list (mind maps make this quite easy).
  • Classify the ones that can be automated with tools or software
    Search and find the suitable tools or software for these processes.
  • Test, implement, and improve the processes with these tools.
  • Spot the processes that can’t be automated, but could be delegated, and create an operations manual for them.
  • Find and test the right employees and/or freelancers for the processes that can’t be automated.
  • Optionally delegate the updating and improving the operations manual to a business manager.
  • Spot the processes that can neither be automated nor delegated. These are the ones you still have to do yourself.

Want to know how I came to this answer? Read the full article here

How to follow up with potential homebuyers?

You will need between 6 to 8 touchpoints. For these, use more than one communication channel (omni channels).

Your first follow up channel should be the phone, ideally as a video call. After that, you can switch to texting.

Once you reach your potential home buyer, you can switch to texting. Send more than 3 text messages.

Some touch points you want to do via email.

Add the recipient’s name in the subject line, and include between 1-3 questions.

Want to know how I came to this answer? Read the full article here

How to market to first-time homebuyers?

You want to target millennials between the ages of 22 and 39 that have an average household income between $69,000 and $80,300.

The homes you want to promote are in the price range of $300,000 and have an open floor plan, two full master suites and one standard bedroom.

In terms of ideal marketing channels, use Facebook Ads with ad placements on mobile including interests related to weddings and use first-time homebuyers in the detailed targeting section.

Want to know how I came to this answer? Read the full article here

What is the best house search engine for buyers and sellers?

For buyers, the best house search engine is Zillow with the largest inventory size of 110,000,000 properties.

Realtor.com is the best option for real estate professionals that prefer to pay a monthly fee.

As an individual seller who has no problem in paying a commission, Redfin is the best option, because it gets the second-largest amount of traffic per listing.

And if you prefer a pricing model per lead as an individual seller or real estate professional, then Trulia would be the best option.

Want to know how I came to this answer? Read the full article here

How to market effectively to the Hispanic real estate market?
CountyOwner-occupied units in 2012Owner-occupied units in 2017Ownership rate 2017Increase in Hispanic homeowners
District of Columbia5,6017,63032.15%36.23%
Montgomery County, Texas14,58419,75063.56%35.42%
Wake County, North Carolina8,79911,65644.80%32.47%
Hays County, Texas8,68511,48953.88%32.29%
Multnomah County, Oregon6,7328,69735.24%29.19%
Washoe County, Nevada9,88112,73143.7%28.84%
Prince William County, Virginia11,24014,35661.15%27.72%
Providence County, Rhode Island8,68710,78226.21%24.12%
Worcester County, Massachusetts5,3906,65225.07%23.41%
Bell County, Texas8,76110,81148.41%23.40%
Oklahoma County, Oklahoma12,68715,59648.40%22.93%
Orange County, New York9,11811,12454.31%22.00%
Middlesex County, Massachusetts8,40810,20629.02%21.38%
Madera County, California8,2109,95549.56%21.25%
Fulton County, Georgia5,7236,93333.65%21.14%
Pasco County, Florida10,41112,53260.51%20.37%
New York County, New York10,36612,4398.20%20.00%
Berks County, Pennsylvania7,6249,14241.30%19.91%
Weld County, Colorado10,23912,25555.66%19.69%
Westchester County, New York17,98821,49532.70%19.50%
Fort Bend County, Texas26,10031,18769.79%19.49%
Brazoria County, Texas15,64518,52666.36%18.41%
Gwinnett County, Georgia17,47720,38645.38%16.64%
Harris County, Texas224,526257,10349.17%14.51%

Want to know how I came to this answer? Read the full article here

What are the best colors for real estate signs?

Use purple/brown, and/or black colors for high-end properties.

For houses in the lower price ranges, orange and/or red is ideal.

Use green if you are in the healthy homes niche.

For open houses, use red, orange and/or yellow colors.

Want to know how I came to this answer? Read the full article here

Which social media platform is best for real estate?

YouTube and LinkedIn are the best social media platforms for real estate in the context of effectiveness, and taking into consideration the organic reach decline, costs per acquisition, and audience age groups.

Want to know how I came to this answer? Read the full article here

Is Twitter good enough for real estate?

It’s good enough when it comes to generating leads and as long as you focus on Twitter’s paid ads platform.

The costs per sale there are about $422.

Want to know how I came to this answer? Read the full article here

Is LinkedIn good for realtors?

You have high chances of generating high-quality real estate leads with LinkedIn.

Your traffic to sales cost is about the same as on Facebook with sometimes conversion rates of 40% with LinkedIn InMail Ads.

So yes, it’s good for realtors in terms of lead generation.

Want to know how I came to this answer? Read the full article here

How many bandit signs to put out and what do they really cost?

To get at least one phone call, you need to put out at least 10 bandit signs.

You will need at least 36 signs to get one transaction or deal.

The cost per sign starts at $10 and can go down to $3, depending on the quantity you need.

Want to know how I came to this answer? Read the full article here

How to market a unique property?

Determine the right price by spotting crucial and non-crucial features.

Derive the unique benefits from the features and based on that, also determine the different interests of potential buyers.

Based on this information, you can target them on different marketing channels, such as Facebook Ads, Google Ads, and/or property listing sites for unique properties.

Want to know how I came to this answer? Read the full article here

What is the most important room when selling a house?

The kitchen is the most important room, followed by the living room, master bedroom, and master bathroom.

Only focusing on the most important room unfortunately is not enough.

You also want to avoid major turn-offs such as limited parking or bad smells to create a good first impression.

Want to know how I came to this answer? Read the full article here

Do open houses really sell homes and do serious buyers go there?

You can get a showing to sales conversion rate of 5% compared to a showing to sales conversion rate of 10% for individual showings provided you have a well-organized and previously promoted open house event.

Yes, open houses sell homes and also attract serious buyers, but at the same time, they sell fewer properties and attract fewer serious buyers than other methods.

Want to know how I came to this answer? Read the full article here

How much should you spend on a real estate website without losing your camisa?

It depends on your individual needs, but the costs of a simple website that is more or less just a digital business card range between $0 and $297 per month.

If you want more functionality and customization, you can use a pre-made framework such as WordPress.

This costs between $600 to $2,900.

Now, if you want a 100% custom made real estate website, the costs start at $6,000.

Want to know how I came to this answer? Read the full article here

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