Under the Influence is one of those great CBC radio shows that I try to never miss. It’s an exploration into the world of marketing: the age of persuasion and influence. Host Terry O’Reilly, brings such colour to the broadcast with his extensive knowledge of marketing and humourous inside stories and tips.
If you want to know why a brand is marketing a particular idea – chance are Terry has a pretty good idea why.
And nothing escapes Terry’s realm of discussion – including real estate marketing which he explored on his April 6th show Selling The Dream: Real Estate Advertising. It’s still available via podcast. It’s funny, historical and filled with exciting and sometimes unknown facts about the real estate marketing!.
According to Terry, “the world of real estate marketing has its own rules, its own techniques and its own unique breed of salespeople.” (Well that’s true!) I took a moment and pulled out some of the best show highlights.
Real Estate History ?
? Real estate marketing has been around since the mid 1800s. While some things have changed dramatically, one that hasn’t:… real estate agents are still selling the dream!
? The real estate industry had very dubious beginnings. The first agents were more like hustlers selling properties that weren’t what they said they were. Yes, there were landsharks that sold swamp land in Florida. (That’s where that saying come from.)
? In order to combat the landsharks, honest real estate agents organized to improve the industry’s image by starting real estate boards, establishing ethics and codes of conduct. Honest agents were encouraged to get offices differentiating them from the drifters or swindlers of no fixed address and therefore no accountability.
? The term REALTOR® (short of Real Estate Operator) was created at this time. 1910 there were 126,000 REALTORS.
? In Canada the first real estate board was in Vancouver in 1888. In 1922 the first real estate licence was enforced to set standards across the nation. In 1925 the MLS was established and used in over 200 cities.
? In the early years, most REALTORS® were men, but in 1920 there was an influx of women. The home was considered the ‘women’s domain’, and women knew how to find homes for women. The depression would drive women out, with WWII bringing them back to the business.
? In the 1960s, 25% of all realtors were women. Today: In Canada 42% of all REALTORS are women while 65% in the US.
? There are 120,000 real estate agents in Canada and they spend $625 million in advertising.
Real Estate Firsts ?
? The very first radio commercial in 1922 was for a real estate development in New York.
? The first advertising agency was started by real estate agent Volney Palmer. In 1837 he was looking to diversify to keep his real estate business a float and so started selling advertising services. He became so successful in the 1845 abandoned all businesses and opened advertising agencies in Boston & NY.
REALTORS® On The Cutting Edge ?
? Often a lawn sign will include a additional single pane to highlight a particular feature of the home. There have been some creative choices: FREE pizza with purchase of house | Reduced: But not stupid or desperate | Zombie Free.
? Josh Altmann – California Realtor who ‘Sells the Dream’ with a rap video.
? Terry Waggoner – Ferris Property Group – Your House Is A Piece of Junk.
? Ian Adams – Australian Realtor who uses online videos featuring mostly naked men and women lounging around in the luxury homes he sells.
? Cotty Lowry a Keller Williams agent, made his name when his billboards were continuously defaced. Every time he put up a new billboard, within a week it was vandalized. In the end, it worked as everyone remembered his name – and started looking towards the next ‘defacing.’.
And who could forget Alec Baldwin’s performance in Glengarry Glen Ross. If you haven’t seen Blake’s 8-minute ABC – Always Be Closing soloquy — take a moment and see it now.
Real estate marketing continues to lead the way in marketing from social media to flying drones to music videos. What’s next? Online offerings no doubt…
We would be thrilled to work with you and host your open house. Contact us Today!
Karen Paul & Associates | Real Estate
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