Transcription of Chapter 8 Summary - McKissock Learning
1 1 Chapter 8 Summary Advertising california real estate Practice Institutional advertising attempts to establish a positive image of the company, its services and its reputation in the minds of the public - aims at increasing sales by informing the public of the company's capabilities. Product advertising is directed toward the particular properties a company has for sale - one firm's ads are in direct competition with the ads of other firms. Ads must: Capture the reader's attention - this step is critical. You can't deliver your message to the reader until you've grabbed his or her attention. Arouse interest in your product - pique the reader's curiosity about what you are offering Create a desire for the product - your ad should inspire the readers' confidence in your firm and your product.
2 Prompt the reader to action - such as calling, e-mailing or visiting you or your office To avoid confusion with their advertising plan, many firms choose to have a single person in the office in charge of: Watching advertising costs, controlling volume, scheduling the advertising that meets the objectives, compiling advertising data and evaluating the effectiveness of the ads placed. Advertising Laws: Any person who advertises and is not licensed is subject a fine or imprisonment. When advertising on the Internet about real estate services, a licensee must identify the name of the broker. Truth in Lending prohibits bait-and-switch advertising - advertising for a property that an agent doesn't intend to sell just to attract buyers for other properties the agent has for sale.
3 2 Chapter 8 Summary Advertising california real estate Practice Advertising Media The purpose of an advertising medium is to reach the largest number of probable prospects, NOT necessarily the largest number of people. Newspapers - any ad that does not identify the advertiser as a broker is known as a blind ad (illegal in california ). o Classified Ads are inexpensive, contain words only and are printed in the classified section of the paper. o Display Ads are expensive, can contain words/pictures/graphics and are printed outside the classified section of the paper. o Classified-Display Ads o Press Releases are free advertising Magazines - helps to attract wealthy clients to their upscale offerings. Shopping Guides are free to the public.
4 Shoppers can pick up copies of the guide at the supermarket or other local retail establishments. Telephone Directories - expensive advertising method, but almost every home in your marketing area will have a copy of the yellow pages. Newsletters are beneficial to agents working in niche markets. Radio substantially increases the number of potential clients you can reach. Television is more expensive, but the increase in the number and popularity of cable stations has put this medium more within the reach of many real estate firms. Internet o real estate sites should include: About Us, Current Listings, Sold Listings, Information for Sellers, Information for Buyers and Contact Us pages. Personal Advertising - Name Tag, Business Card or Car Signs.
5 Evaluating your advertising - you must be able to tell which advertising methods are producing sales for you and your company.
