Terraces or lawns fitted with outdoor fireplaces or fire pits, coupled with comfortable seating groupings and an adjacent pond, pool or waterfall provide a perfect setting for a good drink, lively conversation and a glimpse of the stars under the moonlight. Add a pavilion, a hammock, some indigenous plantings and an outdoor kitchen (food always tastes better outdoors to me anyway) and you may never want to go back inside.
These outdoor venues are a terrific way to express one’s individual taste and personality. They transcend age and gender, their appeal is universal and they can be as casual or as sophisticated as one chooses.
Arbors, gazebos, reflecting pools, Koi ponds, waterfalls; moonlighting, you name it, the choices and combinations are only bounded by your imagination. And yes, you can always make room for that flat screen.
While one may think that these oasis inspired retreats are only for the wealthy, effective outdoor living really can be achieved on a budget. Retailers, seeing a burgeoning market, have embraced the outdoor living concept as well, and have quickly moved to take full advantage of this trend. By offering reasonably priced furnishings, accessories and gadgets they have made the outdoor living experience more affordable than ever.
Be it a $10,000 stainless steel do it all grill or a $100.00 hardware store special, a hand built stacked stone fireplace or a portable chimney, the allure of outdoor living is within the grasp of everyone’s budget.
Next time you are relaxing in your piece of backyard paradise, take a deep breath and gaze skyward. You just may be closer to heaven than you think.
There is a great article about website development and ranking that I would like to share with everyone. You can read it at Inman.com.
It’s amazing that even the most powerful brands in the world (Coke) can get their website design wrong. The take-away from this is that there are experts in the industry who advise about how to implement SEO, social media, video usage and historically their advise works. Web and social media are such an important part of your marketing package – don’t get it wrong.
Here are a few points and take aways from the article.
Video Rules
Especially for real estate marketing, video can play the key role in search engine optimization as well as enticing the buyer to your community.
We Need To Answer The Questions That Potential Buyers May Have
This is crucial when developing a website. It’s no secret that when today’s consumer wants to learn about a property, they go immediately to the website. When consumers visit a website they are doing so with questions in mind. They are looking for answer to questions they have pertaining to their wants and needs. This could be anything from amenity details to surrounding restraints. When we design our websites, we need to design them with what the consumers may have questions about. And even if the question is negative, you need to address it.
Simple Search Terms
The article touches on simple search terms. This may seem trivial, but you would be surprised how often this is ignored. According to Inman, only 22% of all searches contain four or more words. The lesson here is that consumers search in a simple manner. If you are developing a keyword strategy with phrases containing more than four words, I would suggest you re-think things. I can’t say that you won’t succeed with your efforts with four or more words, but I will say that data proves that keywords containing three are less words are more effective.
67% of Searches are Driven by Off line Channels
The author of the article finds this surprising. I don’t find it surprising at all. I have always believed that real estate is a market where referrals are your best friend. This is why I push social media so much. Social media can take referrals to the next level by putting them on a public channel for everyone to see. Buyers research not only properties, but also the agents and companies selling them.
With that being said, we shouldn’t under estimate the value of word of mouth referrals.
Website design and Web Ranking can seem like a daunting task, but it’s worth every bit of the effort. Real estate companies can’t afford to skimp on their website. You are who your website projects you to be and you only get one chance to make a first impression.
There was an interesting article in the Atlanta Business Chronicle recently about how large corporations are saving money through virtualization.
For those of you who haven’t heard of virtualization, I will explain. Virtualization refers to the creation of virtual computing space used for security, storage, and networking. You have probably heard of “cloud computing”, which is made possible by virtualization.
Businesses who use virtual servers will spend a third of what they would pay for physical servers. This is because there is no hardware or software to mess with. Plus, utilizing virtual servers will open up space and reduce labor.
Small startup businesses will be the ones to benefit the most from these virtual servers at first. By utilizing this server technology, companies can reduce server, labor, and space costs. Theatrically, a small business will be able to support more employees with a substantially smaller number of servers, which of course comes at a savings and an increase in proficiency. Larger companies have been the early adopters of this technology, but it is going to take them longer to fully integrate the systems and to see the savings.
Even though the topic of virtualization isn’t exactly related to real estate, it is related to your bottom line and I think it can help all of us. Companies all over Atlanta are looking for effective ways to reduce costs without reducing their staff. I think this is a great direction to go in for some savings. It seems like a win-win deal. You save money while increasing the efficient use your space, staff, and equipment.
WSJ.com published an interesting article detailing the re-branding of several prominent and high-end hotels here in the United States. You can read the article here.
It is amazing that the infamous “AIG effect” is causing such a change in the resort-hotel industry. It seems that in this case, perception is reality. It’s pretty obvious to me that this shift is occurring in real estate markets outside of hotels.
For example, we are seeing a significant shift in the way the 55+ markets are beginning to look for retirement living. In a previous blog, I explained the shift from resort style living to more natural and efficient amenities. It is obvious that this is a movement affecting multiple markets because of economic conditions.
The major shift towards more efficient housing spaces in all markets can bee seen in their branding and re-branding. Words like “resort” and “luxury” are being dropped in response to the wants and needs of consumers. These words carry a negative vibe and can potentially scare off potential buyers or renters. It’s apparent that consumers aren’t looking for luxury right now, but efficiency and affordable pricing. These things are more important than resort style amenities. I wonder how many people hear the words “resort style amenities” and become discouraged because of perceived costs. The way they define “luxury” is changing too.
High-end hotels are surviving because they are embracing the change. Unfortunately, it took a while for them to realize that the re-branding of their product was necessary and during that time, they lost a lot of money. This seems to be the case for most of the real estate industry. We are having to uncover creative ways to present ourselves to consumers and this change might not be as obvious as dropping one word from our names.
I recently read a great article talking about the importance of customer service during a recession. I think customer service should be a top priority during any economic climate but it is crucial right now. The author makes a great point in that when companies begin cutting their budget during hard times, customer service should be one of the last things considered for removal.
I wrote an article last week about establishing trust and goodwill in order to sell real estate and the idea of this article is very similar. There has to be a sense of trust or customer service that goes beyond the product.
The article, which you can read here, gives us eight principles used to achieve superior service. I think it’s a great list and definitely worth a read.
While I was going over their list, I started to think of ways that real estate companies could utilize these principles via social media. I have taken a few of their principles and added my own little spin to how they could be used in social media.
“Understand how your customer’s expectations are rising”
How can you achieve this with social media? You could monitor what your consumers are saying about not only your product, but also your competitors as well. Tracking keywords in Twitter and other social networks can do this effectively.
This will give you a great idea on what your market is saying about your product category. The article cites focus groups as a sort of consumer feedback but lucky for us we have something cheaper, faster, and unbiased.
“Appreciate your complaining customers”
This kind of goes along with the above principle but it applies to your products only and it focuses of the negative. By listening to the negative aspects of your product, you can better fix the problem and prepare for the future. This sort of user feedback monitoring can be done with Twitter also.
“Take Personal Responsibility”
One of the most powerful uses of social media can be saying you’re sorry. Big brands such as Southwest Air apologize publicly on Twitter all the time. Why? Because they know that other consumers will see their sincere efforts. Taking responsibility has always been necessary when dealing with an unhappy consumer but social media can really turn that negative into a positive. When you apologize to an unhappy consumer via social media, it becomes public for everyone to see. By doing this, you are showing that you care about the satisfaction of your customer.
I think these are just a few ways social media can be used to increase consumer satisfaction. By using social media, you are able to display your goodwill to the world, which is something all consumers are looking for right now.
I recently read an article that asks the question, “Is trust the new competitive advantage?”
The answer is an overwhelming yes. With the ways things are evolving in the business world, the trust developed between consumer and company has become the most pivotal selling point.
There are many things that ultimately lead to a trusting relationship. This includes reputation, transparency, familiarity, and personality.
If you analyze the different components of trust, you can better understand what is expected from your business relationships. We are facing a tough economic climate and consumers are frugal because they have to be. Establishing trust beyond the quality of your product is crucial in today’s climate. Having a quality product doesn’t guarantee that it will sell. Consumers want more than just a product; they want a trusting relationship between them and their chosen brands. Hard buying decisions caused by the economy create more intimacy between brands and consumers upon purchase and interaction.
How does all of this relate to real estate?
Real estate purchases are usually the largest buying decisions consumers make. This fact alone makes the process far more intimate than buying groceries. I would argue that trust plays a much greater role in real estate consumer decisions than any other purchasing arena.
People usually buy property as a home or an investment and often times for both. Each of these scenarios requires the utmost trust due to their financial and emotional involvement.
Social media is giving consumers of all markets an effective way of establishing trust with brands they purchase from or will purchase from. If you aren’t participating in the social realm, you are missing out on a great opportunity to establish trust with your consumer.
This is one more reason to use social media. Brands using it for transparency and openness are setting the standard in the minds of the consumer. If you aren’t being transparent and your competitors are, you might be losing sales to an inferior product.
The generation Y home buyer might be the most challenging, but also most rewarding demographic to sell to today.
There are several buyer traits that make this generation difficult to sell to but if you can figure out an effective way to present the value of your product on their terms, you will enjoy this flourishing market.
One of the most important attributes that Gen Y is looking for in a home is walk ability. If you are selling or renting in an urban setting, odds are that easy access to shopping and public transportation are high on your consumer’s list of wants.
The generation Y consumer is smart, young and frugal. At the same time, they desire high quality finishes that will stay inside of their budget. This presents an interesting challenge for homebuilders and sellers. How do you satisfy a desire for high style while also staying within their budget?
The answer is to choose your finishes carefully. This generation of buyers wants something that looks high style but doesn’t have to be the top of the line. I guess you could say that looking good goes a long way with this buyer.
Many would advise builders to avoid the luxury the clichés, which include the fish bowl looking bathroom sinks. Instead go for a clean, modern look with less distraction. It’s all about simple, modern, and clean.
Another thing that Gen Y buyers will be looking for is a certain level of technology within the units. Many believe that tech is not a want for Gen Y, but a need. Even the most basic units are starting to incorporate built-in media systems with iPod docks and pre-wired surround sound systems.
Maybe the most important selling point for generation Y is the price. I am not saying that they want just the lowest price, but they do want the best value. This group is smart and they will negotiate to the end. It’s not that they are cheap, they just want to get the most out of their money and that means we must present a product with high-perceived value.
