When it comes to marketing real estate in the Baltimore area, do you play it safe and stay in the middle? Or do you go all the way and deliver an outstanding marketing campaign?
Gary Vaynerchuk shares his thoughts on marketing in general in this video, and I encourage you to take a look at it. (Be forewarned that Gary uses strong language, so you may not want to watch it if your children are nearby).
Pay attention to some of the things that Gary said in this video:
"One of the things I'm obsessed with is extremes. If I started an event business, if I was like in the blow-up castle business to rent to bar mitzvahs and birthdays, what I would do tomorrow is go to China and make the most extreme castle of all time. Like a 900 foot castle! Because what's happening in our society right now is it's minimalism and it's extremism."
This makes a lot of sense to me. Take a look at the viral content on social media platforms such as Facebook. It's the extreme marketing campaigns that do really well, not the boring ones. The TV ads that get shared on social media with millions of views are usually one of three things. First, they are way out there in terms of being ridiculous or crazy. Second, they may have high production values. Third they may have a really positive message.
Gary also says:
"It's the club dynamic. Why do clubs right now have, when you order the champagne, the sparklers come out? People want attention. They're not buying the champagne, they're buying the attention. ...Don't live in the middle. The world is getting pulled that way because of the internet. The middle is bad."
So you don't want to live in the middle because that doesn't get attention. In marketing, you want to be either extreme and crazy or minimal.
Why do it that way?
Because of the attention that it brings to the marketing campaign and to the real estate agent running that campaign.
When marketing real estate in the Baltimore area you may not serve champagne with sparklers in it. However, if you want to move away from the middle ground then you will need to bring something different to the marketing that gets attention.
These days a lot of real estate marketing is very much in the middle, although that middle ground will be different depending on the location. In some areas the middle ground in marketing real estate is an agent taking bad cell phone photos. In other parts of the world this type of marketing would be considered at the extreme (bad) end, and in those areas the middle ground may be nice photos with a floor plan.
How do you move from the 'middle ground'?
To identify the middle ground in your particular market, look at the top 10 or 20 listings in the MLS. What are the majority of real estate agents doing in their marketing campaigns? Are they using a professional photographer? Do they use video to market their listings? Do they include a floor plan? Once you've identified the middle ground then you can decide if you want to do the same or if you want to go more extreme. There isn't a correct answer as it's up to you, but if you asked Gary Vaynerchuk what he would do, he'd say:
"Don't live in the middle ground alongside the majority of local real estate listings."
Instead, think about making a move to the more extreme side in order to stand out and grab the attention of as many buyers and sellers in your market as you can.
So, what could extreme real estate marketing look like in your area?
To some extent this depends on the market you are in, but at a minimum it will be above-average photography and an amazing video. For example, if daytime photos are the middle ground in your market, then use twilight shots to grab the attention of buyers. Not all photographers are created equal in their ability to create twilight photos, so make sure you get the best one in your area.
If shaky real estate agent videos are the middle ground in your particular market, then hire a professional videographer who can create a cinematic video with strong visual elements, great audio, and a perfectly selected musical background. Any voiceover work should also be professional and sound amazing.
Will this work for every home?
In marketing for the luxury end of the market where competition for a small number of buyers is high it's essential to invest heavily in marketing. As this luxury real estate agent said in a Nashville news piece:
"With the luxury home market, the caliber of photography and photographers you use is much, much better. We're not trying to find 5 buyers who want this property, we're trying to find the one buyers who wants this property."
What about the mid-tier real estate market?
I definitely think there is a place for extreme real estate marketing at that price point. However, it may not be right for every listing, so these three questions may help you decide whether or not it will work for you:
- Would 10% of your commission adequately cover the costs for extreme photography and video marketing? You should expect to pay between $1,000 - $2,000 for that or it isn't extreme enough.
- Are you or the homeowners able to stage the home in such a way as to see the highest possible benefit from a top-level visual marketing campaign?
- As a real estate agent, do you want to get more luxury listings?
If you answered 'yes' to all three questions then consider an extreme marketing campaign for the right listing.
At Charm City Virtual Tours, we provide a variety of services to help your listing get the attention it deserves. Our outstanding photography, panoramic photos, drone video and photos, twilight photos, 3D walk-through tours, virtual staging, floor plans, video, and marketing materials, we can help you get that listing sold! Give us a call at 410-707-3306 when you're ready to deliver an outstanding marketing campaign for your next listing.