Home Marketing is just the same as any kind of marketing; the same principles apply.  The most famous set of principles is The Rule Of The 5 P’s. Product, positioning, promotion, price and place have driven “world class markerters to move mountains” of stuff! When there’s no “end-aisle” or couponing, how would these tired old, traditional tenets apply to marketing a piece of property? Here’s how:-

1. Product

Obviously, this is the house. How it’s presented, its condition, its overall appeal, unique selling features, key differentiators, all are part of how the product is presented.

2. Positioning
Who is the ideal buyer? Is this house a move-up home, a starter house for couple about to start a family, likely to appeal to a professor, a dog owner, what? All of this is positioning, – who is the customer that this home suits.  And it is this aspect that determines how the home is staged, if you hire one of the new “story teller” stagers that use home staging and design to tell the story of the ideal owner for the house.

3. Promotion

How and where are you letting people know the home is available? What is the offer? Sure, the price, the taxes, the commission all play in, but what else? Does this house come with a team of maintenance folks already long established – the landscaper/lawn service, the tree people, the HVAC maintenance contract, the sprinkler contract, the dry cleaner delivery schedule, etc.  The total package… is all part of the promotional piece of home marketing.

4. Price

Is your home the best value in the price bracket you’ve chosen. If not, consider shoring up the value. If still not, you’re at the wrong price point. You need to revisit the comps and determine what the market says each price bracket warrants.  Get this one wrong and your house sits, lifeless on the market, aging and deteriorating at exponential speed.  This is an expensive P to be unrealistic about.  [read: greedy}

5. Place

How do buyers view the property? Via an Realtor? Will you be holding a Public Open House? Will you run a “sneak peak” promotion? Is it all by special appointment? You need to make is as easy as possible for buyers to find your home. In a buyers’ market, these “places” are important, with rich rewards for the more creative.

Marketing’s 5 ‘p’s – Product, Positioning, Promotion, Price and Place… just as important for the home marketing team as it is for corporate and agency marketers.