Analysts expect the U.S. real estate market to reach a market volume of $142.9 trillion by 2028. It’s common knowledge that the industry is competitive, and creative real estate marketing is critical for agents to stand out and make sales. The world of marketing has changed. As an agent, you must keep up with the latest trends to connect with audiences looking to buy what you’re selling.
Although marketing has become more complex, some simple tips are all you need to reach the right people at the right time.
Buying a home is a priority for 84% of Americans, and the homebuying spree in recent years has made the real estate market more competitive. Reaching your target market and making sales requires you to stand out. As clients’ needs change, your marketing efforts must remain agile. The best marketing for realtors involves embracing digital trends, getting creative and educating people instead of confusing them.
Effective marketing helps you connect with the right buyers, improves your online presence, generates leads and boosts your credibility. Combining traditional and innovative marketing methods can help attract the right buyers, allowing you to generate and nurture leads and boost your agency’s profitability.
Part of successful real estate marketing in today’s industry is getting creative. When potential buyers are bombarded with information, giving them more of the same may fall short of grabbing their attention. Remember to stand out and build meaningful connections with potential buyers when creating a marketing plan.
Some actionable real estate marketing ideas include:
The first step to becoming a client’s first choice is ensuring you’re talking to the right people. Consider your strengths and whether you target a specific niche. Like any effective business model, you must play to your abilities — narrowing down your target market means you can position yourself as the agent who best meets their needs.
You need to know as much about your audience as possible to bring something unique to your audience — research demographics, preferences and the most effective communication methods. Ask yourself what they want and how you can give it to them in a way that other agents can’t.
Market trends and demand influence how you connect with clients. Staying on top of what’s happening in your market is critical to effective marketing. Artificial intelligence (AI) transforms the industry with predictive analytics, allowing agents to forecast trends and make more accurate predictions.
Another critical element of the market is the competitive landscape. Identify your key competitors and what they offer. Consider their marketing strategy and look for what they aren’t doing so you can step in.
With 93% of buyers using online websites to search for homes in the U.S., a seamless, aesthetically appealing online presence is your most potent marketing tool. Your online presence begins with a website, and it takes users 0.05 seconds to form an opinion about a website. Yours should load quickly and provide a stellar user experience.
Imagine you’re interacting with a website for the first time. High-quality images, video and infographics are likely to capture your attention. You’re also more likely to connect with a buyer with detailed property listings.
A big part of your website is brand awareness. Your logo, brand voice and aesthetic should convey professionalism and show that they can trust you to act in your best interests.
As much as 93% of global web traffic comes from Google. If you want people to see your listings and connect with your brand, you need to appear in search results. Take the following steps to improve your chances:
A common mistake agents make is focusing exclusively on listings. Educate your audience as well as sell to them by crafting informative articles. Make your content relevant to your target audience, positioning yourself as an authority in your industry and building trust.
Consider what your ideal client wants to know and provide that information, complete with relevant keywords and engaging images. Your website is the perfect opportunity to showcase your expertise and establish yourself as a thought leader.
An active and engaging social media presence keeps your brand at the forefront of your audience’s minds. Set aside time to answer questions on local Facebook groups, showcase your listed properties on Instagram and provide prospective clients with as many opportunities to connect with you as possible.
Part of your business is serving your area, so making local connections is essential to your success. Invite other local companies to participate in a local house event and partner with them to cross-promote each other’s businesses. Sponsor events or charities and build relationships with nearby real estate associations and organizations. Position yourself as a local authority with a column in a magazine or appearing on radio and TV slots.
Digital marketing is one of many avenues available in your marketing arsenal. Traditional real estate marketing materials are still effective in targeting specific locations. As many agents have transitioned entirely to digital marketing, traditional print advertising, like magazines and newspapers, lets you differentiate yourself from your competition. Outdoor advertising, such as billboards, can also be a potent tool in your campaign.
Aesthetics have always been critical in real estate. With most buyers beginning their searches online, your photographs must stand out from the crowd and create a lasting impression. A professional real estate photographer is a sound investment and an asset to your business, boosting sales and adding an air of professionalism to your listings.
Use analytics tools to measure your website and listing performance. With actionable data on conversion rates and user behavior, you can see what works and identify opportunities for improvement, adjusting your strategy to align with market trends.
Virtual tours have transformed the market since the onset of the COVID-19 pandemic. Innovative technology allows viewers to view every nook and cranny of a property from home. You can make your listing more accessible with live tours or add the immersive and interactive qualities of the virtual experience, letting potential buyers explore at their own pace.
Partnering with a quality auction service has considerable benefits when selling or buying properties. It focuses people’s attention on a single property and clarifies when it will be sold. You’re also more likely to get true market value for the properties you sell. The auction service handles the marketing with customized campaigns, showcasing your skills to buyers and sellers.
Working with an auction service is a partnership, and they work with you to sell property, even if you’re on a finite timeline. If you want to combine traditional real estate with auction and bring a property to market fast, auction services are an effective solution.
Effective marketing can be challenging for agents. It’s time-consuming and hit-and-miss, and how you approach it could decide whether or not you make a sale. As auction experts for four generations, Cates Auction and Realty Company brings buyers and sellers together with unparalleled marketing when you need it most.
Our relationship with you is a partnership — accelerating the timeline is a shared goal. We’ll develop a full-stack marketing strategy that empowers you through every step in the process, streamlining the sales timeline and getting the desired results. Contact us to learn more and elevate your next sale today!
The real estate arena is evolving, and at the forefront of this transformation is the rise of virtual house tours. The growing relevance of virtual real estate tours, especially 3D virtual house tours, has revolutionized how properties are showcased and experienced. Prospective buyers can explore every nook and cranny from the comfort of their own space.
This blog delves into the increasing significance of home virtual tours. Specifically tailored for individuals looking to sell their properties, this guide offers insights into virtual home tours — from the benefits and differences to the future of these immersive experiences.
Real estate marketing has come a long way from static images and printed brochures. In the digital age — where visual appeal and immersive experiences matter — the rise of 3D virtual real estate tours has changed the game. Traditional methods struggled to convey a property’s true essence, leading to the rise of technologies like 3D real estate photography.
The year 2020 accelerated the adoption of virtual real estate tours since safety concerns and social distancing measures limited in-person viewings. Buyers sought the convenience and accessibility of 3D virtual house tours, enabling them to explore properties at their own pace and from anywhere. This technology also expanded the market’s reach, attracting global buyers.
Additionally, virtual reality (VR) technologies enable immersive and interactive property viewing experiences. These advancements have made virtual tours more engaging, realistic and accessible — contributing to their growing popularity in the real estate market.
As virtual tour software continues to evolve and become more user-friendly, it further enhances the effectiveness of virtual tours in showcasing properties and attracting potential buyers. To give an idea, the global virtual tour software market value is $384 million in 2023 — and is projected to grow to $941 million by 2030.
Real estate agents adapted to this shift, incorporating virtual tours into their marketing strategies, while buyers’ evolving preferences for work-from-home spaces increased the demand for comprehensive online property exploration. These changes have left a lasting impact, with virtual home tours becoming a standard feature in the real estate industry.
These immersive digital experiences offer advantages that can impact the selling process. Let’s delve into the numerous benefits of embracing 3D virtual tours for showcasing your property:
These tours offer an immersive, engaging and efficient way to showcase your property to a broad audience. They can streamline the selling process and enhance the overall experience for both sellers and buyers. Embracing this technology is a significant step toward a successful and efficient property sale.
Traditional physical tours have long been the norm. However, the emergence of virtual house tours has shifted how properties are experienced.
Let’s explore the main differences between these two approaches and why virtual tours have increasingly become the preferred choice for property sellers in Missouri and Kansas.
Traditional property showings provide a firsthand look, but they lack the immersive quality of virtual tours. Buyers can walk through the property, but their interaction is limited to the physical environment.
Virtual tours offer an entirely immersive and interactive experience. Buyers can explore every inch of the property at their own pace. They can view rooms from multiple angles, zoom in on details and even measure spaces — all from the comfort of their computer or mobile device.
Conducting in-person viewings can be costly and time-consuming. Sellers must prepare the property meticulously for each show — often disrupting their daily routines to accommodate prospective buyers’ schedules.
Virtual tours save sellers valuable time and money. There’s no need for extensive preparations, and showings can happen on-demand, 24/7. It’s an incredibly flexible and convenient way to showcase a property.
Physical tours are restricted by location. Interested buyers must be physically present, limiting the reach of your property’s exposure. Yet, the digital nature of virtual tours breaks down geographical barriers. Potential buyers can explore your property near and far — making it accessible to a broader audience, including out-of-state and international buyers.
While physical tours allow buyers to see the property, they may not catch every detail. This can lead to uncertainties and concerns down the road. Virtual tours, on the other hand, provide a comprehensive and transparent view of the property. Buyers can thoroughly assess it, fostering trust and minimizing surprises.
Physical viewings often involve sellers, buyers and agents driving from property to property, contributing to environmental pollution and high fuel costs. However, embracing virtual tours aligns with a more sustainable lifestyle. It reduces the need for extensive travel and the production of printed marketing materials.
Technological advancements are poised to drive the industry to new heights, offering both property sellers and buyers an array of exciting prospects.
One of the most promising avenues is the integration of virtual reality (VR) and augmented reality (AR). Imagine immersing yourself in virtual reality homes, walking through their rooms as if you were physically present. This technology can provide a level of realism and engagement that was once inconceivable.
Furthermore, the emergence of AI-powered virtual assistants holds immense potential. These digital guides can accompany prospective buyers during virtual tours by offering information, answering questions and providing an interactive experience simulating an in-person viewing.
The real estate industry is continually evolving, and virtual house tours are at the forefront of this transformation. Stay informed about these emerging trends and innovations, as they can shape the future of property marketing and redefine how we buy and sell homes. The coming years promise an exciting reality where the line between the virtual and the physical property showing may blur, offering endless possibilities for property sellers.
In a dynamic real estate landscape, the rise of virtual house tours has become a transformative force. Property sellers in Missouri and Kansas can unlock various advantages, from heightened visibility and increased buyer engagement to swift transactions. Take the leap into this exciting future.
Looking to sell your property? Cates Auction & Realty Company’s four generations of auction expertise and advanced technology will supercharge your property’s journey from listed to “SOLD.” Discover your property’s true market value and connect with the perfect buyer through competitive bidding.
Contact us online today to begin your next chapter.
Artificial intelligence (AI) is a buzzword in almost every industry. It’s unlikely the first thing that jumps to mind when it comes to real estate, but artificial intelligence in real estate has the power to change property investment, streamlining processes for buyers, sellers and real estate professionals. The value of the United States real estate market is expected to reach $113.6 trillion in 2023 and $143.9 trillion by 2028, and understanding the possibilities is essential.
The applications for AI in real estate are growing, and knowing what to expect can set you up for success, regardless of your goals.
Real estate artificial intelligence is the application of AI tools to streamline and inform real estate transactions. When we think of AI, our minds often jump to generative models, which allow chatbots to generate informed responses to complex inputs. While agents could use AI to write property descriptions, AI in real estate is more detailed. It can be used in multiple real estate applications, but the most common include:
AI real estate trends provide valuable information on the potential for future change, which is essential for buyers, sellers and real estate professionals to understand. AI has already streamlined many real estate processes, which gives us an idea of what to expect in the future. It has the potential to affect real estate in the following areas:
Although AI has the ability to transform the real estate industry, one thing is clear — it can only work in conjunction with real estate professionals who see things that computers might miss and understand the emotions involved in selling or buying property. Together, AI and real estate professionals can make a formidable team, changing the industry for the better.
For buyers, AI can remove some investment-related guesswork. Machine learning and predictive analytics can provide more accurate market forecasts, allowing buyers to make strategic property investment decisions. Finding the right property has also changed with the introduction of AI. Up to 97% of homebuyers use the internet to search for property, and AI can simplify and personalize the search process, making it more efficient for buyers.
Machine learning models can pinpoint buyers’ most intricate preferences, automatically showing them properties that meet their needs. AI models may even be able to detect subtle inclinations, further personalizing the experience and making searches fun and interactive.
AI has many potential benefits for property sellers, from predictive maintenance capabilities to keep a property in the best possible shape, to unbiased home appraisals. Market analysis can benefit sellers and buyers, as analytics inform strategic decisions about when to put your property on the market and the best selling method to use for your situation.
AI models can outline who the typical buyer is likely to be for a property and develop a specific marketing strategy to target these buyers, which could result in quick and successful sales. They can add intricate details to the virtual staging process, like staging a home to appeal to a specific demographic. In addition, AI can help buyers decide what changes to make to their property before selling.
AI technologies can also produce automated valuation models (AVMs) that consider factors like location, features, market trends, security and comparative sales data without human bias. With AVMs, sellers can use objective property valuations to get a fair market price for their property and ensure security.
Using AI in real estate has significant benefits, but like any innovation, it also comes with risks. Using technology with such far-reaching implications requires caution. The more data you give an AI, the more it learns, which could spark privacy concerns. AI can also only work with the data you provide, which means if you miss something or include bias in the input phase, it may misunderstand something critical and provide flawed information for decision-making.
AI has limitations. It cannot understand emotions and nuances in human behavior, which can lead to incomplete market forecasts or unusable advice. Human creativity and understanding are fundamental parts of the real estate industry. Misusing AI can cause a lack of creativity in marketing and communications endeavors. Understanding the value of combining AI-driven insights with the expertise and experience of trusted real estate professionals can lead to successful transactions.
Technological innovations in real estate could mean significant changes in how we buy and sell property. While the opportunities are exciting, having a real estate company you can rely on is essential for many sellers. Cates Auction & Realty Company has been bringing buyers and sellers together since 1942, and it’s this dedication to our craft that keeps us innovating year after year.
Our award-winning technology and innovative approach change how real estate is sold, providing sellers with an online marketplace for competitive bidding. This method brings buyers to the table and ensures timely sales and true market value on your property. You can set the terms and auction day of your house, and we’ll put a spotlight on your property, instead of trying to make it stand out among similar real estate. If you’re considering selling in Missouri or Kansas, schedule a complimentary property analysis with us today, or contact us to learn more, and we’ll be happy to answer any questions.
In the world of real estate, where properties are often highly sought-after, finding the most effective method to sell a property can make a significant difference in achieving the highest possible price. One approach that has gained popularity and proven to be effective is competitive bidding.
With its ability to generate excitement, create a sense of urgency and maximize returns for sellers, competitive bidding has emerged as one of the best ways to sell real estate.
Competitive bidding refers to a process in which multiple individuals or entities compete against each other by submitting their offers or bids to purchase a particular item or property. It is commonly used in real estate, auctions, government procurement and business contracts.
In the context of real estate, competitive bidding involves inviting potential buyers to submit their best offers for a property within a specified timeframe. The property is typically listed with an asking price, and interested buyers are given an opportunity to make their offers. These offers are sealed and submitted to the seller or their representative.
During the bidding process, interested buyers compete with each other by submitting higher offers to outbid their competitors. The bidding continues until a predetermined deadline or until the seller decides to accept one of the offers.
Once the bidding period ends, the bid evaluation process begins. The seller reviews the offers and selects the most attractive one based on factors such as price, terms and conditions, financing and additional contingencies. The highest bidder is typically awarded the opportunity to purchase the property, although the seller has the discretion to negotiate further or reject all the offers if they are unsatisfactory.
While competitive bidding shares similarities to how most Realtors manage sales, one difference in selling at auction is the property is sold “as is” and on a “non-contingent” basis, with a 30-day projected closing date. According to the auction terms, a prospective buyer cannot make their bid contingent on any outside factors, such as financing or inspections.
A competitive bidding program in real estate can benefit various parties involved in the buying and selling process. These include:
The effectiveness of a competitive bidding program depends on various factors, such as market conditions, property desirability and the quality of marketing and promotion. Sellers, buyers and other stakeholders should consider the specific circumstances and seek professional advice when participating in a competitive bidding program.
The following are some of the benefits of the competitive bid process:
At Cates Auction & Realty Company, we specialize in conducting competitive bidding events for real estate properties. With our expertise in the auction industry, we offer a platform that brings together sellers and buyers in a transparent and competitive environment. Here’s how competitive bidding at Cates Auction & Realty Company works:
By conducting competitive bidding events, we enable sellers to maximize the value of their properties and offer buyers an opportunity to participate in a transparent auction process. Our expertise and established reputation in the auction industry make us a trusted choice for those seeking to leverage the benefits of competitive bidding in real estate transactions.
Using auction techniques honed over the past 79 years, we have created an innovative online marketplace for competitive bidding. This innovation creates a competitive atmosphere geared toward shifting the buyer’s focus from price to the property’s value. Our digital approach targets and captures qualified buyers, driving elevated results.
As the real estate industry continues to evolve, competitive bidding stands out as the optimal approach for selling real estate in today’s market. Contact us at Cates Auction & Realty Company to sell your home.
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