3-Step Marketing Plan for Merry Homes Real Estate
1. The Market
It is important to understand the market before proceeding with your marketing plan. You should know statistics about your consumer base so that you can structure not only your business, but also present your company as one that fills a need to the community.
Merry Homes Real Estate based out of Richmond, Virginia is coming into a market that has a home-homeowner turnover rate of about one new home every four years. Typical reasons for the turnover include:
• outgrowing former home
• expanding family
• moving out of the area
• crime issues
• want to be closer to work
Statistics on the local market:
• The (mean) average home is 10 years old.
• The (mean) average home sells for $300,000.
• The (mean) average amount of time a home spends on the market is 4 months.
• The (mean) average number of prospective buyers for each home in that amount of time is 15.
• The (mean) average number of bids per home is 2.
• The (mean) average seller adjustment price per home is $20,000.
2. The Competition
In order to excel in business of any kind, you need to set yourself apart from the competition by proving that you do something differently. Part of your marketing strategy will be to incorporate into your plan a provision for taking steps to actually set yourself indelibly apart. However, you must first... [continues]
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