Download advertising and marketing

© 2011 Cengage Learning
Advertising and
Marketing
Chapter 15
© 2011 Cengage Learning
RATIONALE FOR CHAPTER
Getting listings isn’t enough!
The agent has to sell them to have
satisfied customers and get paid.
© 2011 Cengage Learning
RATIONALE FOR CHAPTER
This chapter will present you with
effective methods of advertising and
marketing that will attract buyers and
sellers.
Emphasis is placed on the Internet as
fully 90% of buyers now start their home
search there!
© 2011 Cengage Learning
Focus of Presentation
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This chapter will teach you the
difference between advertising and
marketing and how to maximize the
benefit of each.
You will learn basic advertising
guidelines and how to use the AIDA
formula to create effective ads that
produce results.
© 2011 Cengage Learning
Focus of Presentation
•
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The growing value of the Internet and email as advertising mediums will be
discussed.
You will learn how to monitor where
your customers are coming from.
The value of niche marketing is
discussed in detail.
© 2011 Cengage Learning
CHAPTER FIFTEEN
OUTLINE
15.1 ADVERTISING AND MARKETING
15.2 A BUDGET FOR YOUR BUSINESS
PLAN
15.3 THE ADVANTAGES OF NICHE
MARKETING
15.4 COMPLIANCE WITH DEPARTMENT
OF REAL ESTATE AND STATE AND
FEDERAL STATUTES
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Advertising
Function of advertising.
Function of marketing.
Specific advertising and its focus on
immediate results.
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Institutional advertising and its focus on
image building.
AIDA approach to writing effective ads.
Advantage of painting word pictures
when writing ads and the effect they
have on buyers’ emotions.
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Various types and effectiveness of
personal advertising. (company name
tag, business cards, the Internet and
classified advertising)
Why are consumers moving away from
printed advertising and increasing their
use of the Internet?
•
what opportunities that trend presents to the
astute real estate agent and company
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ADVERTISING AND
MARKETING
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Importance of proper identification of
real estate firms and agents in
advertising and the sanctions that can
be given to violators who place blind
ads.
Proper use of floor time and how to
monitor ad calls received by the floor
agent.
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ADVERTISING AND
MARKETING
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•
E-mail advertising
E-mail etiquette
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ADVERTISING AND
MARKETING
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Internet used as an advertising and
marketing medium
Call-capture 800 numbers
•
how they work
• what they cost
• how effective are they
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Effective ways to use direct mail.
Use of real estate magazines and
whether they are better for advertising,
marketing, or both.
•
benefit of stating features in each ad, tied to
a benefit to the consumer reading the ad to
call the agent.
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Marketing
Goals as compared to advertising.
Display advertising and the cost
involved.
Use of radio and television and who can
afford their use.
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Direct mail from the viewpoint of the
individual agent and the company.
Newsletters and how often they must
be delivered to be effective.
Telephone directories and press
releases.
© 2011 Cengage Learning
ADVERTISING AND
MARKETING
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Specialty gift giveaways used in
conjunction with other forms of
advertising and marketing.
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which giveaways, such as refrigerator
magnets, are effective due to constant
visibility while others are put in drawers
and forgotten.
Outdoor advertising and whether you
think it is effective or not.
© 2011 Cengage Learning
A BUDGET FOR YOUR BUSINESS PLAN
Discuss the financial commitment that
must be made by real estate agencies
and agents in order to tell their story,
attract listings and attract buyers to buy
those listings.
© 2011 Cengage Learning
A BUDGET FOR YOUR BUSINESS PLAN
Discuss the process of creating an
advertising and marketing budget and
the average percentages of gross
commission income that most
successful real estate firms and agents
set aside for this purpose.
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A BUDGET FOR YOUR BUSINESS PLAN
Advantage of increasing or decreasing
a budget in response to current or
anticipated market conditions.
© 2011 Cengage Learning
THE ADVANTAGES OF
NICHE MARKETING
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What it really is – a specialty market.
Discuss how a strong focus on a
specialty or niche market (the saturation
effect) can raise agent awareness of
the details of a particular market and
can raise consumer awareness of a
firm’s or agent’s presence in a particular
market.
© 2011 Cengage Learning
THE ADVANTAGES OF
NICHE MARKETING
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Increased mutual awareness
•
what does it do to consumer confidence in
the newly discovered “name brand”
© 2011 Cengage Learning
THE ADVANTAGES OF
NICHE MARKETING
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Examples of niche markets
Identify other niche markets you are
working successfully.
© 2011 Cengage Learning
COMPLIANCE WITH DEPARTMENT OF REAL
ESTATE AND STATE AND FEDERAL
STATUTES
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Discuss the various agencies that
regulate advertising and the importance
of complying with those regulations.
• Real Estate Commissioner’s Rules
and Regulations
• Federal Consumer Protection Act
(Truth in Lending Act)
Using the text, discuss the various
Code Sections that govern real estate
brokerage and lending.
© 2011 Cengage Learning
COMPLIANCE WITH DEPARTMENT OF REAL
ESTATE AND STATE AND FEDERAL
STATUTES
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Using the text, discuss the real estate
commissioner’s regulations cited as
part of Article 9.
Article 12 of the NAR Code of Ethics as
it applies to advertising and marketing.
Truth in Lending Act (especially Annual
Percentage Rate)
© 2011 Cengage Learning
COMPLIANCE WITH DEPARTMENT OF REAL
ESTATE AND STATE AND FEDERAL
STATUTES
•
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Discuss “bait-and-switch” activities and
how to avoid them.
Consumer’s rescission rights
Exemptions
© 2011 Cengage Learning