Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Dominant PMs gain from competitors' marketing

13 August 2012 Steven Cross

Consumers may vaguely recall your marketing campaign but end up thinking it came from the area's dominant player, real estate marketing expert Julie Ryan told a conference last week.

Speaking at the Australasian Residential Property Management (ARPM) conference in Sydney, Ms Ryan said it takes three items or events within three weeks to create remembrance with consumers.

“With just one interaction, they’ll forget you," she said.

"People can ‘sort of remember they got something’. But when asked who, they will say who they believe to be the dominant agent in that area. And if that’s not you, then you just paid for someone else’s marketing.”

Ms Ryan said there is a real 'science' behind marketing, claiming that more money is spent on advertising research than medical science.

“Marketing is about creating outstanding value, and becoming famous for that," she said. "If someone is not famous for their amazing service, then there’s no point being so good. Your service needs to be able to be passed on by your customers.”

“The 'reticular activating system' is a giant filter that filters out all the information that you think is unnecessary, and it lets through the necessary information,” she said

“This is why we cannot remember exactly what our phone menu looks like, despite seeing it dozens of times a day.”

In this low activity state, landlords have already made up their mind about which property manager to use subconsciously, unless you can break the cycle.

“When someone has had an interaction with you, on a person-to-person level, every piece of marketing they receive from then on is more effective than if they never met you," Ms Ryan told the audience.

“Congratulations and thank you notes are some of the most powerful tools you can use. I make sure I write up five notes before I even check my email.”

Dominant PMs gain from competitors' marketing
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

What is the worst mistake vendors make?

Price too high
Taking low offers too personally
Neglecting curb appeal
Not ‘staging’ the home for sale
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.