Watch Your Business Grow Bigger & Stronger With
Personal Promotion Program
In the marketing of any product, certain fundamentals apply. The marketing mix identifies the elements that are available to manipulate. Every real estate agent is a member of a broader distribution channel, and as such competes with all agents for the privilege of working with a customer. If we isolate the process of individual agents attracting customers and view it as a marketing process, then we can gain insight on ways to become more effective. That is exactly what has been done to create the Personal Marketing Process, a system designed to make real estate agents stand apart and be more effective by applying marketing fundamentals to their profession.
The first fundamental concerns the elements of the marketing mix that to manipulate.
Agents can compete on a price basis, but with an ample supply of qualified agents, it is difficult to justify a premium for service. The market sets commission rates. Lowering rates but maintaining a high level of service is difficult. So price is a poor choice to manipulate.
Location is also predetermined. The only alternative available is to broaden the service area of operations or specialize in a price category. Both are locational strategies which tend to be market driven. A response to market pressures is all that is available.
That leaves product and promotion. Agents and companies have engaged in promotion for some time in the real estate industry. Some are successful, some are not. Why is that? Agents who successfully promote have been able to differentiate themselves from the rest of the real estate crowd by accident or by design. And that’s a critical key to success, stepping away from the pack.
Every real estate customer puts real estate agents into one of two categories, good or bad. What we need to realize is that customers select agents not on the basis of the credentials, those place us in the good category, but on personal characteristics and traits that set agents apart and make one more appealing to the customer. Agents need to establish a personal relationship of mutual trust with a customer before a transaction can take place. The process of doing that differentiates individual agents from the rest of the pack. The sooner you start differentiating yourself from every other agent, the sooner customers can select you. That is step one, a literal step away from the rest of the agents with whom you compete, to place yourself in a separate category or niche in the larger group of good agents.
