New School Vs. Old School Real Estate
Agents who have been in real estate for a while have methods that are tried and true. The agents newer to the scene have technology that makes them more efficient than ever.
There are two primary consumer facing aspects of real estate for any agent: marketing and customer service.
The difference in technology, marketing, and customer services has drastically expanded through innovators with unlimited ideas.
Old school agents sell properties by:
• Taking photos on their personal cameras
• Entering the home into the Multiple Listing Service (MLS)
• Sticking a sign in yard
• Telling a few agents about new listing
• Waiting for buyers and/or agents to drive by and call the number on the sign
• Selling hard and negotiating aggressively
New school agents sell properties by:
• Hiring a professional photographer or taking the photos on their iPhone
• Emailing or texting clients and agents about the listing coming soon
• Entering the home into the MLS
• Putting a sign in the yard, sometimes
• Advertising the property on 3rd party platforms like Zillow and Realtor.com
• Shooting virtual walk-throughs and video home marketing
• Publishing a website for the home, and featuring the property in eNewsletters
• Advertising the property on social media channels
According to house hunt network.com The new school method of marketing is based around the Six C’s: Contact, Connection, Conversation, Consideration, Consumption, and Community. These things are not business centric, but rather consumer focused. They don’t simply push the message of your product on the people within earshot. These words emphasize the idea of building a relationship with people so that maybe someday they’ll use your product or service.
Marketing is about influencing people who might buy your product or service, using messaging that conveys value. Old school marketing used traditional channels such as broadcast and print to communicate with the target market. New school marketers have kept the traditional methods that still work, and have combined them with digital technology to communicate with consumers on a different and deeper level. New school marketing relies heavily on such Internet channels as Web sites, blogs and social networks.
It is important that an old school individual inform themselves in todays constant changing market as technology & systems improve the amount of skills and energy can take an effect on a person who hasn’t stayed learning and growing themselves mentally.
Constant Contact’s Social Media Quickstarter guide describes a marketing funnel that represents how companies prioritize lead generation and conversion. Old school marketing put prospecting at the widest part of the funnel. The first priority was to find as many consumers as possible, convert some of them into customers, and establish a relationship with a few of those customers to earn their loyalty. The Real Estate industry is booming like never before it has built over 80% of millionaires here in America and it continues to build fortunes as investors continue to dominate and grow their Real Estate portfolio leading them to financial freedom. However there is no roof in this game, but a person has to remember there is no floor either.