Home Real Estate Marketing

Real Estate Marketing

Six Steps To Achieve Digital Marketing Excellence

As an agency, we don't just think about our customers -- we have to think about our customers' customers. When starting to build a digital marketing strategy that is customer-centric and focused on achieving this excellence, you should first take a deep dive into your current efforts and determine what needs to be done in order to improve it. Achieving management buy-in/involvement is part of the six elements to obtain digital marketing excellence. Developing a workshop with the management team at the beginning of a project helps companies understand what you are going to help them do, and who needs to be constantly involved for a better execution. As an agency, we don't just think about our customers -- we have to think about our customers' customers. When starting to build a digital marketing strategy that is customer-centric and focused on achieving this excellence, you should first take a deep dive into your current efforts and determine what needs to be done in order to improve it. Achieving management buy-in/involvement is part of the six elements to obtain digital marketing excellence. Developing a workshop with the management team at the beginning of a project helps companies understand what you are going to help them do, and who needs to be constantly involved for a better execution. Having the right data helps us make better decisions. A correct integrated customer communications strategy means your multichannel communications strategy is developed for individuals who are at a different stage in their buying journey.

Home prices are rising faster than wages in 80% of U.S. markets

Climbing home prices and less than significant increases in wage growth have contributed to renting becoming a more affordable option for Americans, according to ATTOM Data Solutions' latest Rental Affordability Report. In 59% of U.S. metros studied, renting a three-bedroom property is less expensive than purchasing a median-priced home. That’s a whopping 442 out of the 755 counties, according to the report. Notably, ATTOM discovered that renting is also a more affordable option in 18 of the nation’s most populated counties and 93% of counties with a population consisting of more than 1 million people. “With home price appreciation increasing annually at an average of 6.7% in those counties analyzed for this report and rental rates increasing an average of 3.5%, coupled with the fact that home prices are outpacing wages in 80% of the counties, renting a home is clearly becoming the more attractive option in this volatile housing market,” ATTOM Data Solutions Director of Content Jennifer von Pohlmann said. In fact, median home prices increased at a faster pace than average weekly wages in 601 of the 755 counties analyzed in its report. Furthermore, home prices outpaced rents in 70% of housing markets, and median home prices rose faster than average fair market rents in 531 counties, according to ATTOM. That being said, 76% of the 469 counties analyzed in ATTOM's Home Affordability Report posted an affordability index below 100 in Q4 of 2018, according to ATTOM’s analysis. “With rental affordability outpacing home affordability in the majority of U.S. housing markets, and home prices rising faster than rental rates, the American dream of owning a home, may be just that — a dream,” Pohlmann concluded. NOTE: The Rental Affordability Report analyzes average rental data for three-bedroom properties in 2018 and early 2019 from the U.S. Department of Housing and Urban Development, along with wage data from the Bureau of Labor Statistics.

WSJ: Millennials are opting for all-in-one co-living situations

Co-living properties are growing in popularity and scope. According to a feature by Christopher Mims in the Wall Street Journal, communities that plan out residents’ social lives and take care of all the little time wasting adult annoyances that pull at their attention after they punch out are fast carving out a niche for themselves in the multifamily market. Alta+ is one such community in New York, and it is not unlike a dorm in its function and social structure. Residents pay $1,800 a month for a 98-square-foot space with a Murphy bed, a host of cleaning services and social programming. The community even has the equivalent of a resident assistant know as a “community manager.” The value-add is that though residents are paying a premium for less space, they feel they are getting a better deal because they are saving time, energy and money on chores and social planning. According to Mims, developers are sinking hundreds of millions of dollars into building or reimagining properties around the co-living model. These developers typically partner with the likes of Ollie, Common, Starcity, Podshare, or WeWork’s WeLive to help them bridge the gap between traditional multifamily practices and the new-fangled co-living style of multifamily. Could this be the future of multifamily in high-density areas? Or is it just a flash in the pan? Only time will tell.

Have You Considered Using Blockchain as Part of Your Marketing?

Here are five ways to build a better marketing strategy using innovative technology, and to stay ahead of the game in the digital age. Use blockchain as a tool to reach consumers. For DAC, this means using blockchain technology to incentivize audio content creators and their fans to build and develop a robust content community.. The digital age has created many new channels for companies to reach their target audience, but many established digital marketing techniques have become less effective in recent years. Blockchain startup Agora, which offers end-to-end verifiable voting technology, has incentivized an audience through its token bounty program as well as the company’s core product. Agora has engaged its community by offering rewards to those who share its message on social media and other channels. As companies like Google develop efficient and effective marketing AI, incorporating this tech into future marketing plans will be crucial for any company that wishes to survive. Anyone expecting to keep up with the growing number of platforms and segmentations that will define the digital age must begin to understand and embrace artificial intelligence as the uber-tool it will become. The internet of things (IoT) will be the interconnected network of all appliances and machines in one’s life. The company that successfully models this IoT data will be able to conquer the future of marketing.

Generate Leads With Your Facebook Cover Photo

The Cover Photo Design Your cover photo, just like any other photo you post on Facebook, is clickable. This means users can click on the photo to expand it and view the complete image. ‘Click Here’ Sign There are two different ways to get fans to click on your cover photo. After designing your cover photo, add a “click here” sign to the image. The second way to let fans know to click your image to read the image’s description is to add a short CTA to the bottom of the image. Once a fan clicks on the image (on their desktop), the complete photo is shown and fans can see the CTA on the bottom requesting they click on the link to your landing page in your image’s description. This automatic feature is a great way to inform fans that you’ve changed your cover photo. While you’re busy creating the best cover photo image to drive traffic to your landing pages, let Homes.com’s Social Fuel experts handle all your Facebook advertising needs. Patty McNease is director of Marketing for Homes.com. For the latest real estate news and trends, bookmark RISMedia.com.

Why Every Marketing Strategy Should Include AI

The website makes recommendations of other movies for you to purchase. The next day, you get a follow-up email recommending other similar movies, and even some similar books. But even though you've probably experienced AI interactions as a customer, the majority of companies aren't integrating AI across their business. In fact, recent research done by the McKinsey Global Institute found that only 20% of surveyed companies said they had adopted AI and another 41% said they were uncertain of AI's benefits. Harnessing Big Data with Machine Learning and Deep Learning Before we jump into what AI can do for CMOs, we first need to explore 2 key terms often used with AI: machine learning and deep learning. Machine Learning Applications Machine learning is the algorithm which enables a computer to learn desired behaviors without specific directions, like the recommended product emails you get after making an Amazon purchase. But machine learning AI can do a lot more than send recommendation emails. Deep Learning Applications Deep learning is a more specific type of machine learning. CMOs can use deep learning to develop data-dense marketing analytics and actions to do any of the following: Identify a company's logo across social media posts to create new marketing relationships with other companies or identify new influencers Better understand customers' perceptions of a brand based on how it is used in images across social media, blogs, and other online sites Power more nuanced chatbots, generate captions, and provide real-time language translation Even if your company isn't an artificial intelligence powerhouse like Google or Amazon, machine learning and deep learning should still be in your marketing toolkit. After adopting AI software known as Albert which analyzed the success of online advertisements and the behavior of past customers in order to identify potential new customers, the dealership saw new sales leads increase by 2390%.

These markets are hotbeds for luxury real estate

A new report by Coldwell Banker reveals where the country’s wealthiest individuals are buying properties, listing the top 5 “power markets” for luxury real estate. Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Key features of these markets include airport accessibility and a housing stock that lends itself to privacy, exclusivity and stellar views. A recent report by Redfin revealed that luxury home sales – or sales of homes priced above $2 million – fell 3.9% in the fourth quarter of 2018, marking the first time in more than two years that sales in this high-end market have fallen on an annual basis. But Charlie Young, Coldwell President and CEO, said that the median sold price has remained around $1.4 million, holding steady for the last 18 months, and that this is a key sign of stability. “When you take the long view, the luxury real estate picture is steady and stable.” Here are Coldwell’s top five power markets for buyers and sellers, which Young called hotbeds of luxury home sales at the million-dollar price point and higher: 2018 Top 5 luxury buyer power markets Maui, Hawaii Palm Beach, Florida Washington, D.C. Kauai, Hawaii Brooklyn, New York 2018 Top 5 luxury seller power markets LA Valley, California Detroit, Michigan Las Vegas, Nevada Boulder, Colorado Raleigh, North Carolina Coldwell’s report also revealed other trends in luxury real estate. High-end real estate in Raleigh-Durham, North Carolina, had the shortest median days on the market – just three – for single-family homes. For condos, Orlando, Florida, had the lowest median price per square foot at $156. Vail, Colorado, ranked the most expensive for condos with a median price of $1,629 per square foot. Finally, Staten Island, New York, was named the most evolving market, standing out for its notable value compared with the other four boroughs of New York City, as its proximity to Manhattan appeals to buyers.

Supercharge Your Marketing Message and Convert More Prospects to Profits

What if you experienced an epic response to your marketing message? You know, an abundance of prospects contacting you to serve their real estate needs? Achieving this goal takes intentional connection. Instead of sending out massive standard mailings, posting information that gets little or no response or spending too much money on lead generation platforms that show a meager return on the investment, intentional connection is the communication transformation you need. What it does take is focus on delivering messaging that resonates with what the consumer will find engaging, not what the industry dictates. Here are a few tips to power up your visibility to help you shine in your marketplace: Think Relevance – What interests your community is information about them. This strategy of narrowcasting versus broadcasting your messaging helps to monitor and measure which of the many communication and marketing channels is working to get the attention and engagement of your target market. Her marketing includes both traditional and online marketing specifically designed to target this segment of her marketplace, and it’s working like gangbusters. For example, if your goal is to become the celebrity authority in a specific development, be prepared to cover all channels of messaging. Marketing requires messaging that’s relevant, engaging and valuable.

In real estate, man’s best friend is often calling the shots

Here’s a clue: They typically have four legs and they can have a major impact on a buyer's decision. Furthermore, 87% of the homeowners with pets said they took their pets' needs into account when searching for a home, even as many as 90% stating that their animals' needs were essential to their decision of purchasing a home. “Dogs are man’s best friend,” Realtor.com Chief Economist Danielle Hale said. “It’s not terribly surprising that when pet owners are buying a home, their best friends get what they want. If a home doesn’t meet the needs of their pets, those needs are non-negotiable for a lot of homebuyers.” The survey revealed that dogs particularly were an owner favorite leading with 64%, followed by cats with 41%, birds with 12% and fish with a 1% ownership percentage. The survey also indicated that younger buyers and families with small children were more likely to be pet owners. This is especially important as First American’s Real Estate Sentiment Index survey of title agents and real estate professionals revealed that nearly 87% of first-time homebuyers were Millennials. This could mean that young prospective homebuyers might be on the lookout for homes that suit the needs for their four-legged friends. The Realtor.com survey found that home features are especially important for pet owners. "It's heartwarming to find that people will put their pets' needs first, even when it comes to one of the biggest financial decisions they will ever make," Realtor.com Chief Marketing Officer Nate Johnson said.

FHA significantly expands LIHTC financing program for multifamily properties

The Department of Housing and Urban Development announced this week that the Federal Housing Administration is expanding its low-income housing tax credit financing program for multifamily properties. According to HUD, the move is a “significant expansion” of an FHA pilot program that streamlines mortgage insurance applications for affordable housing developments that have equity through the LIHTC program. Back in 2012, the FHA rolled out a LIHTC pilot program that dealt specifically with applications to refinance mortgage debt under FHA's Section 223(f) program. Under the new expansion, FHA will begin to support “new construction and substantial rehabilitation” under its Section 221(d)(4) and Section 220 programs. “Today, we take another important step to stimulate capital investment in affordable housing at a time when we need affordable housing more than ever,” HUD Secretary Ben Carson said in a statement. “We’re also applying the lessons we’ve learned from our earlier pilot program to streamline our processing for new construction and substantial rehabilitation developments, so we can get these deals done quicker and more efficiently.” According to HUD, the FHA’s expanded pilot program will “ensure faster and more efficient processing for low-risk, LIHTC transactions by eliminating redundant reviews.” Per details provided by HUD, the average processing time for LIHTC deals is currently 90 days. “A shorter application review period allows borrowers to lock in better interest rates sooner, an important capability in a rising interest rate environment,” HUD stated in a release. The move has the potential to have significant impact on the multifamily financing space. According to HUD, FHA multifamily transactions that include LIHTC financing make up approximately 30% of the FHA’s total multifamily volume. And the FHA expects that by including its Section 221(d) and Section 220 programs with the existing LIHTC program, the FHA will “support more production and preservation of critically needed affordable multifamily housing.” For much more on the FHA LIHTC expansion, click here.

TRENDING

10 of the worst social media mistakes agents can make

We’re all guilty. At one point (for some over and over), we all commit various crimes related to our online presence and social media platforms. They have to stop. Whether you are a chronic online offender or a one-time culprit, here are the 10 social media mistakes you have to stop now -- and their simple fixes. Facebook 1. Not having a link to your business page to your personal page Crime Great, you have a business page, however, no one can find it unless you tell them the name of your page. This is also why your page has very few likes and followers. Remedy Go to the "About" section of your personal Facebook page where is says “Work.” Add to your work history by a adding the name of your Facebook business page. Now your business Facebook page will be listed on your personal page, which will allow those who view your personal page to easily find your business page. Not includi...