Real Estate PR - Public Relations
Public Relations is often the forgotten tool of real estate marketing. Unfortunate, because with an effective PR program, real estate agents can generate more exposure than with traditional advertising, and for a fraction of the cost.
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Public relations, or PR, can make a great addition to your real estate marketing program. So why is PR so often neglected or ignored by real estate agents? Perhaps because some agents don't understand how to go about it.
What is Real Estate PR?
PR, or public relations, refers to a variety of techniques and practices intended to generate awareness of a product or service. A public relations program, then, is a coordinated application of these practices.
For our purposes, the product is your real estate expertise, and the service is what you provide to buyers and/or sellers. In short, a real estate PR program (and public relations in general) is to get people talking and writing about your services.
PR uses the media to support it's message, but that's not the end goal. The ultimate goal happens when your target audience (A) knows about you, (B) talks about you, (C) seeks to learn more about you, or (D) a combination of all three.
The Parts of a PR Program
A real estate public relations program should encompass a variety of tacitcs. In other words, you have to go beyond press releases (though they're certainly a part of the big picture). In my view, the primary parts of a real estate PR program are the following:
Benefits of Real Estate PR
Real estate agents and brokers have used direct marketing tactics for decades. A farming postcard or letter represents direct marketing in its purest form. Direct marketing can work, but only when (A) it's done extremely well, (B) it offers something of value, and (C) it capitalizes on what's familiar.
PR supports other real estate marketing channels
PR can help you get more out of your direct marketing efforts. It provides a solid platform from which you can more effectively market your services and expertise. If people have heard of you through your PR efforts, then your direct marketing pieces automatically rise above the "unknowns."
But PR is not just a support tool. It can generate response in its own right. Publishing articles (like this one) is a form of PR. When I publish articles that resonate with people, I get responses in the form of emails, newsletter subscriptions and website visits. While my PR program is increasing awareness and credibility, it's also generating direct responses (a role usually filled by direct marketing).
PR is stronger than advertising
When other people (journalists, past clients, prospects) talk about you, it carries much more weight than when you talk about yourself. Consider this example: Let's say I visit your website and find the following statement: "I can make the home buying [or selling] process easy for you."
Would I believe it? Maybe I would. Maybe I wouldn't. Maybe I would laugh and say, "They all say that! What's to make this person any different?"
But what if I had a friend who had worked with you in the past, or had attended a home-buying seminar you conducted. And this friend said, "You won't believe how easy he made the process for me. The whole thing was a breeze!"
I'd be much more inclined to believe that.
PR is nearly free
I said "nearly" because you'll put in the hours to launch and sustain a PR program. But PR won't hit you in the wallet like direct marketing and advertising will. Case in point, you can publish an article in a magazine by providing quality content. It requires dedication and persistence, but it costs nothing.
Advertising in that same magazine might cost thousands. I'm not saying you should rule out advertising - just that you should also consider the power and cost-effectiveness of PR. PR can build a brand. Advertising can maintain a brand by reminding people about it. New companies (or individuals) cannot advertise their way into the minds of prospects. Not at first.
Where Does PR Come From?
Real estate PR opportunities come in a variety of shapes and sizes. Sometimes they come to you out of the blue. Most often, you have to seek them out.
The trick is knowing how to spot them, and being able to determing their value. Remember, not all publicity is good publicity. At first, you might be tempted to jump at every opportunity that presents itself. But as with advertising, you need to focus on those opportunities that will give you the greatest gain for the effort you put in.
Questions to ask:
- Will this avenue reach my primary audience?
- Will it reinforce my perceived expertise?
- Will it help to convince people of my expertise?
- Could this opportunity have negative impact?
- Does this publication or venue have a good or bad reputation?
- Wide enough exposure (readership / viewership) to make the effort worthwhile?
After a while, you'll develop a knack - almost a sixth sense - for answering these questions quickly and easily.
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