Online Marketing for the Estate Agent

By Roelof Vermeulen for CyberAgent.co.za

Introduction

If you are making a living as an estate agent you can be proud to be one of a few of the elite in a very challenging industry. It is no secret that only the best succeed in this very challenging industry.

Therefore when I first set out thinking on how to write this I had to understand that I was dealing with marketing professionals. The online industry are however very different and many top marketers are struggling to find their footing in this industry. However it is in most cases totally unnecessary as it is an industry that makes sense and is much easier to track statistically than the conventional marketing techniques.

The Internet opportunity

According to internetworldstats.com there are currently more than 1,1 Billion Internet users across the world. More than 30% of these Internet users are from Europe and more than 22% from North America. As far as South Africa are concerned we have the largest Internet user base in Africa at an impressive 5,1 mil Internet users. If all of these facts are taken into account it becomes very clear that the Internet offers a large opportunity for visibility to millions of potential buyers both local and abroad.

Currently there are an estimated 500,000 real estate websites online. In South Africa there are an estimated 15,000 real estate sites. With this amount of competition, it becomes important to be ahead of your competitors in terms of your online marketing strategies.

A view on South Africa

According to world-gazetteer.com South Africa has a population of close to 50 mil people. It is a country with great prospects for the future as is clearly visible when looking at the statistics from the World Bank. In 1985 the GDP was at $67,1Bil. In 1995 the GDP stood at $151,1Bil and in 2005 at $240,2Bil. South Africa’s average annual growth for GDP was 4,9% in 2005. Although these figures have a lot more meat to it, it indicates a healthy economical growth. With a healthy growing economy it shows a great online future for the country that was at one stage considered the black hole of the Internet.

A carefully aimed arrow

With such a large quantity of Internet users globally, able to view your website, it is clear that your website is more than just an advertising billboard. The fact that the Internet is becoming more and more community driven, your website also offers much more benefits than just a brochure to advertise your property listings in. Having a fully dynamic website that are better than anybody else’s website is becoming a minimum standard if you wish to compete. Having partnerships with other real estate websites are also becoming more and more important.

The most important factor to consider when evaluating and structuring a proper online marketing strategy is to consider who your target market is. Demographics is a requirement and should be the foundation of your marketing plan. These market segments will become your target markets and will determine your marketing budget for all online marketing ventures.

Different segments of Online Marketing

Although there are at least 12 main categories that can be used in online marketing, we will discuss 4 of them in the following weeks. Understanding these 4 basic marketing strategies is crucial in understanding the way of the web.
• Editorial Marketing
• Banner advertising
• SEO
• Email marketing

When reading this and future articles, it is important that you understand that these marketing techniques are closely related to each other for the best results. Although this is the case they are also proven to be successful if used independently.