Lecture#1

Course Title: Real Estate Marketing

Course Code: MKT 514
Definition of Real Estate and Real Estate Marketing:
Real Estate:
Land plus anything permanently fixed on it including buildings,
sheds, and others items attached to the structure. Although media often
refers to the real estate market from the perspective of residential
living, real estate can be grouped into three broad categories based on its
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Example of real estate includes undeveloped land, houses, condominiums,

town homes, office buildings, retail store buildings and factories.
According to English common law, real property, real estate, realty of
immovable property is any subset of land that has been legally defined
and improvement to it have been made by human effort, building,
machinery, wells, dams, ponds, mines, canals,, roads etc.
In another way real estate is a piece of land, including the air above on it
and the ground below it and any buildings or structure on it. Real estate
can include business and/or residential properties and are generally sold
either by realtor or by the individual who owns the property.
Real Estate Marketing:
Real estate marketing is a process to generate interest in a property for
sell by advertising using various means and managing the sale of the
property through closing of settlement.
Marketing of real estate is a social and managerial process b which
individuals and groups obtain what they need and want through offering
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and exchanging land and creating offering and exchanging building

directly or indirectly to others.

Property
There are two types of property. In legal terms, all property will be
classified as either personal property or real property. This distinction
between types of property comes from English common law, but our
modern laws continue to distinguish between the two.
Each type of property is treated differently under the law. There are many
different types of laws that specifically pertain to personal property, and
many other types of laws that pertain specifically to real property.
Personal property is movable property. It's anything that can be subject
to ownership, except land. Real property is immovable property - it's
land and anything attached to the land.
Normally, a piece of property can be easily classified as either personal
property or real property. The difference between the two is usually fairly
straightforward. However, sometimes it's a little harder to categorize
property. Let's look at one example.
Let's say that I buy lumber and other building supplies, such as a saw, a
hammer, and some nails. These supplies are personal property. They're
moveable and they belong to me.
Next, I use these items to build a shed on my land. Is this shed personal
property? No. The shed is real property because it's attached to, and now
part of, my land. Any leftover building supplies are still personal property,
like my saw and hammer. But anything that's actually part of the shed is
now real property.

Personal Property
Let's take a closer look at why this is. Let's look at the types of items that
are classified as personal property.
Personal property includes possessions, of really any kind, as long as
those possessions are movable and owned by someone. Personal property
isn't affixed to or associated with land. These moveable items are
sometimes known as chattels. The law regarding chattels includes those
laws covering possession, gifts, lost property, abandoned property, and
stolen property.
It's helpful to note that personal property includes both tangible and
intangible items. A tangible item is an item that can be felt or touched.
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For a business, tangible personal property includes items the business

owns such as:

Office furniture

Business equipment

Business vehicles

Business goods

An intangible item is simply an item that can't be felt or touched. For a

business, intangible personal property includes items the business owns
such as:

Stocks

Bonds

Intellectual property

Money

Real Property
The key difference between personal property and real property is that
real property is fixed permanently to one location. This includes land and
anything that is built on the land. It also includes anything that's growing
on the land or that exists under the face of the land. For a business, real
property includes immovable property that the business owns, such as:

Land

Buildings

Crops

Mineral rights

For example, let's say that I'm in the farming business; I own a large piece
of land. On the land, I have a house, a barn, a grain silo, and a stable.
Each of these items is a piece of real property, because these items are
attached to the land.
Since real property includes everything growing on my land, my real
property includes my crops. Once cut, these crops become a moveable
good. But while these crops are growing on my land, they are a part of my
real property.
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Challenges of Real Estate Marketing:

1. Managing

increased

cost

associated

with

reaching

out

to

prospective property buyers and tenants

2. Delivering the experience of the projects before completion.
3. Engaging actively with existing buyers for referrals.
4. Creating and enhancing the reputation of the project and the
builders.
5. Utilizing word-of-mouth as a powerful marketing tools.

Nature of Real Estate:

1.
2.
3.
4.
5.
6.

Distinguished from personal property

Elements of ownership
Freehold estate
Future interest
Co-ownership
Trust

Marketing objectives of real estate companies/ Objectives of Real Estate

Marketing:
1.
2.
3.
4.

Attract new business

Retain clients
Create public awareness
Solidify reputation (responsiveness, honesty, ethics)

Attract New Business

Emphasize

your

trustworthiness

when

marketing

to

new

clients,

particularly with first-time homebuyers who rely on you to guide them

through the process. Focus on your long-standing client relationships in
your advertisements, integrating testimonials from past clients who were
happy with a home or property they bought or sold. Show prospects
photos of clients with their "sold" signs or in front of their homes to show
the end result of the home buying journey.
Retain Clients
Retaining old clients -- especially investors -- is another marketing
objective. Investors often make multiple purchases over the years.
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Retaining residential clients will also benefit you with consistent, though
less frequent, revenue flow. Show your buying and selling statistics to help
establish long-term client relationships and underscore that the positive
experience they've had with you will continue with future purchases. Print
these numbers in promotional brochures and fliers, as well as in enewsletter blasts to your contact lists.
Create Public Awareness
Branding is critical in most businesses, but particularly in real estate
where the competition is fierce. Not only are you competing with other
real estate businesses, but you're potentially losing the business of "do-ityourself" buyers and sellers who work independently. Make your brand
well known in your local area to attract the attention of buyers and divert
them from your competitors. One way to do this is to sponsor community
events and run ads in home decor sections of newspapers and magazines
as well as on television stations such as HGTV.
Solidify Reputation
Your marketing materials should stress the qualities buyers look for in a
real estate agent, including responsiveness, honesty, a cheerful demeanor
and tough negotiating skills. Your campaigns should emphasize your
professional

ethics

and

note

any

membership

in

professional

organizations; if you're a Realtor, your marketing materials should say so.

Engage the public by answering real estate questions on Facebook or
Twitter. This can establish you as an expert in the real estate industry who
takes the time to engage with customers one on one.

Md. Mehedul Islam Sabuj

Lecturer
Department of Marketing
HSTU, Dinajpur