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Having a job in real estate means essentially, that you are your own boss running your own business. As a leader of your mini-organization, there are certain key principles and plans by which you need to operate your company. First and foremost is your business plan – your road map, if you will, for how you want your new small business to operate. Secondly, yet of equal importance to the success of your business, is your marketing plan. Following is a simple 3-step strategic marketing plan for a fictitious company.
3-Step Marketing Plan for Merry Homes Real Estate
1. The Market
It is important to understand the market before proceeding with your marketing plan. You should know statistics about your consumer base so that you can structure not only your business, but also present your company as one that fills a need to the community.
Merry Homes Real Estate based out of Richmond, Virginia is coming into a market that has a home-homeowner turnover rate of about one new home every four years. Typical reasons for the turnover include:
• outgrowing former home
• expanding family
• moving out of the area
• crime issues
• want to be closer to work
• marriage
Statistics on the local market:
• The (mean) average home is 10 years old.
• The (mean) average home sells for $300,000.
• The (mean) average amount of time a home spends on the market is 4 months.
• The (mean) average number of prospective buyers for each home in that amount of time is 15.
• The (mean) average number of bids per home is 2.
• The (mean) average seller adjustment price per home i ...