FoREM on Niche Marketing

Phil via Joel at the Future of Real Estate Marketing blogs about, Niche Networks and Marketing Real Estate:

A perfect application here would be in condos. Condo marketers are among the more creative when it comes to real estate marketing. They’ve already perfected the art of selling lifestyle, starting with the catching single word name; Vertigo, Civic, Cosmo, Verge. (Sometimes I wonder if they just flip through the dictionary and randomly pick a word…)

Flashy web sites are old hat with this crowd, as is video – though, there are still some that are pushing the limits of those mediums (see Sitcom Used to Sell Condos).

I’d disagree about condo marketers, at least in Seattle, being more creative. I’ve seen more condo marketing firms run ads on buses than firms who have run online ads. Shit, these marketing firms don’t even know how to build websites that are search engine friendly (hint: Flash is not conducive to good SEO and you all use it!) And I don’t know of a single Seattle condo development that has a developer or marketing firm run blog!

I also question why they would invest in post-sales activities. Once you’ve signed your purchase and sale agreement (PSA) they go from high touch mode to no touch mode, you’re dead to them (even though you’re likely a very valuable referral source.) Investing in building niche markets post PSA is likely not perceived as a worthwhile invest for them.

Of course, I hope I’m wrong. But while there is still easy money left to grab on the table here in Seattle the developers and marketing firms will not innovate.

About once a week I think of quitting Redfin to run a condo marketing firm. Green card issues aside, I hope it’s more emotionally (and perhaps financially as well) satisfying to change the national real estate market instead of a niche market here in Seattle.