Marketing professionals are very familiar with focus groups. I have never seen a real estate agent incorporate one into a marketing plan, so I think this will be valuable to you as an agent -- especially when developing a strategy for a hard-to-sell or luxury listing. We are going to answer two specific questions with our focus group. Remember customers are buyers, and my product is my new listing. What do my customers think about my product? How do my customers feel about my product? It might seem a little strange to ask what customers think and feel about a house, but buying a home is an emotional purchase. Having shelter is a basic need. So we need to focus our marketing on fulfilling that need. So, who is in my focus group? Let's say I have an $800,000 listing, and I am wanting to sell this home. My focus group may consist of: A jumbo lender A title person A community member who can afford this home A person who lives in the area The HOA presi...
- Focus groups are highly underused in real estate.
- Gather a group of people with a stake in the housing game and have an honest talk about the listing.
- Use the notes from the focus groups to help sellers understand the specifics.