In my conversation with Louis La Vella, a marketing and event expert, he shared the techniques he uses when promoting concerts and other entertainment events, and explains how a real estate agent can apply the same techniques when marketing for an open house. Louis broke down these techniques into a simple, 3-step process: 1) determine your target audience 2) build anticipation and 3) deliver on the experience you have been promoting.
The first item on your agenda, before throwing any event, is to sit down and think about whom your target audience is. Once you understand exactly who your target audience is, (in the case of an Open House, who will be interested in purchasing the property) you can begin to develop the style of event that you will create, as well as how you are going to market to the specific individuals.
After selecting the target audience, the next, and most overlooked step is to build anticipation for the Open House. The old school mentality for marketing an Open House typically consists of putting up a sign with balloons in the front yard, a listing in a newspaper, and the promise of juice and cookies to those that attend. While this method may reach your target audience, it also casts a much wider net. It is more of a shotgun approach, whereas, you want to be a sniper marketer!
Therefore, the most effective way to pre-brand the property is by using social media and other digital platforms. Pre-branding can go a long way, especially since it can result in people already being half sold before even coming to the open house, which means your job is already half way done. The main goals of the pre-branding process are to show how the property is different and to create a connection with your target audience.
For example, if your target audience is families with young children, create a post showing the park that is a few minutes away from the property, and include an image of children swinging on the monkey bars with their parents. Or, if your target audience is young professionals and you are listing a condo, show images of the Wholefoods and gym that is right around the corner. Essentially, you want to list all of the great aspects of the area and provide your target audience with a visual experience, rather than simply words on a page, because it will give them a greater feeling of connection before they actually see the property.
The final step is to follow through and deliver on the experience that you have been promoting. No need to go into detail on this step, because as an agent, this is already your area of expertise.
As a byproduct of following this 3-step process in your own unique, creative way, you will begin to be looked at as the expert and authority in the area. Continue with these branding efforts and soon enough, you will become a mini-celebrity, and be known as the best real estate agent in the area.
While this blog post addressed real estate agents giving an open house, I believe a lot of the same marketing principles can be used for fix-and-flipper, when selling a rehab, and buy-and-hold investors, when they are providing a showing to a perspective
Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.