Defining Marketing

Although there are different approaches to marketing, they all have the same intended outcome, to generate business or grab the consumer's attention. Marketing has several different definitions depending on the type of organization or industry. Within the Real Estate Industry, marketing is intended to generate interest in a property for sale and gain recognition for the agent. Various tools are used to gain the attention of perspective buyers and also seller's who may be looking to list their home with a reputable agent within the community.

Like many others, I believed that marketing was just about advertising or sales, when in fact marketing is all that an organization does to gain and maintain a relationship with customers. Everything from responding to your clients in a timely manner to thank you letters, business lunches, property brochures and mixers can be thought of as marketing. In an effort to ensure profitability, the end result of marketing is to match an organization's products and/or services to the people who need and want them.

Market Street

Asian Family Customers Shopping in The Super Marke...

[Fish market, Bergen, Norway] (LOC)

Various tools used to generate interest in, or "market", a property for sale would be: brochures, flyers, postcards, virtual tours on the web, and local multiple listing services. In advertising a particular property the agent is also marketing him or herself, since his or her name and usually picture is attached to the marketing material. If an agent is not marketing a property for sale and only would like to market him or herself, he or she would typically send out newsletters or postcards of previous properties sold.

Some have a misconception about the term marketing, they feel that it is an easy task and anyone can do it. However, as a business person you must realize that you will need to employ a professional marketing agency that will...