The new real estate rebound is not only spurring more competition from all angles but is also creating a surge in real estate marketing. So what are your competitors up to and how can you take the lead to do more real estate investing business?
Real Estate Marketing Trends
New competition for investors is flooding into the market from real estate agents, large funds, new and returning investors and internet marketers trying to cash in on the trend.
Some have forecast that media spending will lag behind the recovery but industry insiders would definitely say the opposite is true with the upfront expenditures which are needed for those getting in and setting up shop as well as the media drive which is needed to fuel more home buying.
So where are your competitors spending their marketing dollars? Spending on newspaper advertising is expected to dive another $3.3 billion or 50.5%. Online marketing is clearly at the top of growing trends, expected to grow by over 15% by the end of the year, account for 55% of all real estate marketing expenditures and be the largest share of all online ads.
One report suggests that email, targeted display advertising, paid search, website development, video and audio will continue to see the biggest investment. According to Borrell?s 2012 Real Estate Advertising Outlook report ?The agent of the near future is likely to be the most socially-savvy, mobile-connected business in town?.
In terms of big players and platforms RealEstate.com is quickly becoming the number 2 competitor after Realtor.com, though Zillow continues to see significant traffic and growth but is not expected to be able to remain stable for the long term due to a lack of any reliable tools, outside of being an advertising medium for real estate brokers.
Winning the Marketing War for Real Estate Investors
So what should real estate investors be doing with this knowledge?
Clearly social, search, email and mobile marketing continue to be essential channels for all real estate investors. However, it can certainly also pay to differentiate and embrace other forms of marketing which present less competition and perhaps offer enhanced advertising effectiveness, branding opportunities and returns.
In the short term real estate investors need to be gearing up for a major marketing push following the election and attempt to get some traction on leading in these marketing arenas. Then as the holiday rush consumes prospects? attention begin to develop strategies, materials and make hires which will vault them forward into the 2013 real estate market.
Forget just trying to keep up or copying what the competition is doing or working on today, that will be old news by the time the New Year rolls around. Ask what?s next and start working on that now. Is it dominating a new social platform, email, Google hangouts and virtual open houses, having your own mobile app or even going offline and focusing on developing real, in-person networking contacts?
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