I welcome you to the Blog on Real Estate Broker: How to do Marketing of Properties for Sale? This blog will throw light on the various Marketing Channels adopted by Real Estate Brokers to sell a property in Mumbai or India. The channels can be used in silos or can be integrated for having a maximum effect. There is no business on earth, which can survive without selling its products or services. The sales function is an integral part of every business.
For Real Estate Broker there is no income if there is no sale. To assist in Sales, Marketing holds utmost importance. Marketing gives you inquiries for the property and sales are an end product of an inquiry. In simple terms, for Real Estate Broker the Sales or Marketing funnel will proceed from Awareness -> Interest -> Desire -> Action. A Typical AIDA model. Marketing helps in the first 3 stages of generating Awareness, Creating Interest, and Desire in the Property on Sale, and creating enough interest to make the customer inquire.
We will be listing down all the possible channels of Marketing available. We will explore each of them.
Referrals for a Real Estate Broker
The basic thing on which previously Real Estate Brokers business used to run on was the business generated by Referrals given by existing customers. A customer who had an overall positive experience with a Real Estate Broker in a transaction used to refer his friends, relatives, colleagues to him.
In business, the cheapest way of generating customers is by Referrals. A referral is more confident of doing business with the Real Estate Broker. Referrals are easy to convert to a sale considering the trust is already built by the person referring to the Real Estate Broker.
In today’s Digital Times, still, referrals continue to be the cheapest form of doing business. Referrals will continue to be an integral part of any Real Estate Brokers’ business strategy.
Online or Digital Marketing for a Real Estate Broker
There are various Digital Marketing Channels available with Real Estate Broker to Market a Property. Below are the few prominent one’s in use today :
1. Building a Website or a Landing Page and getting it to Rank on Google Search Results either organically or via paid search.
2. Using different Real Estate Portals like Magicbricks, 99acres, Housing, Makaan, Commonfloor, and IndiaProperty.
3. Whatsapp Marketing including making a Catalog of Inventory to be sold, Promoting the same inventory on various Whatsapp Groups of Real Estate Brokers spread across the City of Mumbai. Today networking has leapfrogged to being a part of various Whatsapp Groups of Real Estate Brokers. You get certain inventory due to networking on Whatsapp that is not listed on online platforms. This is a popular model since it’s free of cost.
4. Presence on various Social Media Platforms like Facebook and Instagram where most of the Target Audience hangs out.
5. Email Marketing is not widely used by Real Estate Brokers as a form of Digital Marketing Channel for generating leads. Although Email Marketing can be a very useful method of nurturing your existing clients or clients who have inquired with you in the past but have not closed a transaction yet.
Offline Marketing for a Real Estate Broker
There are various modes of offline marketing channels that a Real Estate Broker deploys to generate leads for the inventory he has to sell. Listing down a few of them below :
1. Calling the existing set of inquiries via a Telecaller and checking with them if they are still looking for a Property to buy.
2. Doing an SMS Blast via different SMS Agencies on different databases available with them which helps in generating instant inquiries.
3. Distributing Marketing Pamphlets in a certain locality with Newspaper Dailies. We also call it a Newspaper Insertion.
4. This method is deployed by very few Real Estate Brokers i.e. sponsoring an event in a particular Building/Complex.
5. Newspaper Advertisements being the costliest of the lot, is generally not used as a Marketing Channel by small Real Estate Brokers. It’s used by big Real Estate Consultancy Firms who sell Under-Construction Projects on a Mandate with a Developer.
6. If a Real Estate Broker has a shop in an area with a good number of residential buildings, a walk-in inquiry is generated. Also, there are standees being put at the entrance of a Real Estate Broker Shop apart from Posters of different projects found within the shop. Sometimes, these standees and posters do help generate an inquiry.
The above are the various methods of Marketing available with Real Estate Brokers. It’s important to Integrate various channels of Marketing to have a consistent flow of leads thus leading to conversion.
In the below section of the Blog, we will elaborate on how Digital Marketing Channels are used by Real Estate Brokers to generate leads.
Exploring various Digital Marketing Channels used by a Real Estate Broker
Let’s understand in detail how each digital marketing channel is used by a Real Estate Broker to generate leads.
Channel 1: Building a Website or a Landing Page and getting it to rank on Google Search Result Pages either Organically or via Paid Search Campaign
A. The Real Estate Broker builds his own website from scratch. It has all the details regarding the person who started the Real Estate Agency, how many years of operation completed, areas or number and name of localities served, the Real Estate Agency’s MahaRera Number, and the listing of properties i.e. both in Resale and Under-Construction along with a contact us page mentioning the office address of the Real Estate Agency. It also mentions the contact details i.e. Mobile Number and Email ID for the customer interested in inquiring with them.
B. Apart from building his own website, A Real Estate Broker also creates separate Landing Pages for Projects of Developers that are Under-Construction and need active Marketing Activities for generating leads and conversions. These Landing Pages will have all the specific details of the Project along with the MahaRera Number like Amenities, Location, Configurations Available, Floor Plans with a Price Disclosed or will be Disclosed on Request call to action.
Such active promotions also give the prospective buyer an idea regarding the confidence of the Real Estate Broker in the Developer to complete the Project along with providing excellent customer service. It indicates that the Developer is supportive of its Channel Partners to generate leads for their projects and increase business relationships.
Channel 2: Advertising on various Real Estate Portals
Real Estate Portals like Magicbricks.com, 99acres.com, Housing.com, Makaan.com, Commonfloor.com, and Indiaproperty.com are dominant players having the maximum share of Real Estate Broker or Real Estate Broker listings in India. They rank well on Google Search Result Pages, Active on Various Social Media Platforms, Verify the Properties listed by the Real Estate Brokers (if the Broker has opted for a Premium Listing Package), send consistent email to the searchers on their platforms, and has a great brand recall.
These Real Estate Portals have their major share of revenue come from Real Estate Brokers buying Daily, Weekly, Quarterly, Half Yearly or Yearly listing Packages. They provide good quality leads to Real Estate Brokers thus enhancing their reach in terms of marketing their properties actively and leading to quick conversions. Please note that these portals apart from Real Estate Broker listing Packages, also provide packages to Home Owners and Developers looking to sell their properties via different listing packages. The Package Rates vary from Real Estate Broker to Developer and Home Owner.
Channel 3: Whatsapp Marketing
Whatsapp Marketing is one of the cheapest modes of Marketing available in the arsenal of a Real Estate Broker. There are various groups of Real Estate Brokers who are active on Whatsapp. Sharing the inventory or property details on these groups enhances the visibility and reach of the property on sale. This is how networking within the Real Estate Broker groups have evolved over the years apart from in-person meetups and the ones organized by various Real Estate Associations in the Country. For Eg: A Real Estate Broker may be a part of various groups including his own community groups which speaks volumes about the scope of marketing a property on sale. A single WhatsApp group consists of 256 members.
The second option is making a catalog of all the properties available with a Real Estate Broker for sale along with respective images or pictures. This catalog can be seen by any buyer who inquires with the Agent. It ensures instant marketing of inventory to an incoming inquiry. Please note the catalog feature is available only with Whatsapp Business accounts. It also gives a prospective buyer an immediate understanding of the inventory available with a Broker on sale.
The third option is making a single page creative in JPEG Format of the available inventory i.e. One Image for One Property on Sale and promoting it on various Whatsapp Groups apart from text messages consistently. By consistently, I meant at least the available inventory is promoted once a week. There is also an option of making a single PDF file of all the available inventory and sharing it on various active WhatsApp groups. The PDF file can be downloaded by the Peer Real Estate Broker or any prospective buyer as the case may be.
The fourth option helps in nurturing your existing inquiries that have not yet converted by creating a broadcast list and occasionally sending messages to them in a non-interruptive manner. It’s instant and it helps existing clients recall you as an active Real Estate Broker quickly. The messages can include various festivity greetings apart from sharing occasionally Real Estate Inventory on Sale.
Channel 4: Marketing on different Social Media Platforms
The most active social media platform where prospective home buyers hang out are Facebook, Instagram, and Twitter. I am keeping Snapchat out of consideration due to the demographics not in favor of the presence of High-Value decision-makers on the platform. Pinterest is still in the infancy stages of making a mark as an active Social Media Marketing Platform for selling Real Estate. Nevertheless, all social media platforms should be kept in mind as they are evolving with time.
There is an excellent Marketing platform in the form of YouTube available with Real Estate Brokers. There are other platforms like Netflix, Amazon Prime, various Apps like Moneycontrol which can be a part of an Integrated Marketing Strategy for Real Estate Broker.
I will boil down to 3 major platforms where paid advertising and the organic following are essential to market properties i.e. Facebook, Instagram, and YouTube.
Facebook marketing can be as precise as it can get with Targetting your core Audience for Real Estate. Using the same platform will be Instagram. YouTube Marketing can help you generate leads as well. All these platforms are actively used by Real Estate Brokers to market their inventory.
An Agent can make a Facebook Page and increase its follower’s overtime helping it in Branding, Enhancing Reach, and Understanding the Demographics with detailed analytics available in Facebook Page Insights.
Images are the flavor of the season and it sells itself to the person consuming the content. Instagram Marketing can help you make your Business Account in the name of the Real Estate Agency where you can increase your followers over time thus helping in generating leads along with Branding and Reach. The best part is once you upload the pictures and videos of the property on sale along with details in the caption, it will continue to stay there till the time it’s removed by the admin. Hence, any prospective home buyer visiting your Instagram profile will understand the type and kind of inventory generally available with you.
Putting a Video of the Property for Sale gives the prospective homebuyer an idea about the overall place at the comfort of his home. If he really likes the property video, he will definitely get in touch with you. Hence, YouTube videos come with dual benefits of being a Video Platform in the first place, and secondly, the videos get ranked in Google Search Result Pages. Whether it’s a Resale Property or a New Property both can be effectively marketed via YouTube.
Channel 5: Email Marketing
Email Marketing can be one of the most effective channels of Marketing available to a Real Estate Broker. It has its benefits as below :
1. Keep in touch with existing customers by sending them season’s greetings in a timely manner.
2. Nurture the new inquiries in which case you received a call or had an email conversation in the past.
The above 2 things if performed in an optimal manner will definitely give results in terms of generating either a referral business from an existing client or creating a trigger to close a sale to an existing inquiry. Please note in both cases the client should have interacted with you and given you permission to Market to them. Else Email Marketing may not give the desired results.
This brings us to the end of the blog on Real Estate Broker: How to do Marketing of Properties? I have tried to cover all the aspects of Marketing that a Real Estate Broker can do or does to sell the Property.
I hope this blog adds value to your understanding regarding different Marketing Channels available to a Real Estate Broker. Please do share this blog with your friends, family, relatives, colleagues, and various social media channels.
I have written different blogs on Real Estate whose links I am sharing below in case if you would like to visit and read them at your leisure :
1. What are the Different Stages in a Resale Transaction?
2. Real Estate Agent: How to provide the best services?
3. How to Find Project Details on MahaRera Website?
4. Sunteck Signia High – Luxurious Homes for a Quality Life
5. Rustomjee Summit – Your Dream Home in a Thoughtful Way
6. Kalpataru Vienta Kandivali – Luxury Spaces in the Best Location
7. Savana – Luxury Homes in the Best Locality of Kandivali
8. TW Gardens – Thoughtful Homes in the Heart of Kandivali
9. Chandak Dahisar – Home Spaces Planned in the Best Way
10. Sarova – Enjoy A Life in 55acres in the Heart of Kandivali
11. Oberoi Sky City – Way to Happy Beginnings in a Happy Home
12. Kalpataru Elegante: What is the project all about in Kandivali?
13. Chandak 34 Park Estate: How good is the Project for Me?
14. Chandak Cornerstone: What is in the Project for Me?
15. Oberoi Maxima: Homes that Care for Your Space from a Brand
16. Oberoi Elysian: A Home that gives you the Comfort to Work or Play
17. Sky City Tower F: Luxury 3BHK Homes in an 25acres Paradise in Borivali
18. Godrej Tranquil: Luxurious 1, 2 & 2.5 BHK Homes in Lokhandwala Township
19. Godrej Nest Kandivali: Best 1, 2 & 3 BHK Apartments in Lokhandwala Township
20. Kolte Patil Vaayu: 1 & 2 BHK in A Secured Complex
21. Kolte Patil Evara: Adorable 1, 2, 2.5 & 3 BHK with City View
22. Kolte Patil Verve: Exclusive 2 & 3 BHK in Goregaon West
23. Dosti Oro 67: Luxury Homes in an Upcoming Locality of Kandivali
24. Mahindra Roots: Luxury 1 & 2BHK in a High Rise in Kandivali East
25. Prasanna Jeevan by Kamla Group: Exclusive 2&3BHK in Borivali West
I started this blog with a Vision to add value in the buying journey of a home buyer. I come with 5+years of experience in Real Estate Sales divided into 2 parts i.e. couple of years of experience in Primary Under Construction Projects of a developer based in Bangalore and 3years as a Real Estate Freelancer in Mumbai. I completed my MBA in Marketing in 2012. Currently, I am based in Mumbai. Hence, most of my articles will cover projects specifically in the areas where I have been functional as a Real Estate Consultant. Going further, I will try to cover as many aspects possible in relation to Real Estate making it simpler for the prospective home buyers to take a decision.