Marketing Maestro: April 2008

So, today is the day that the first of the 600 dollar tax rebate checks start rolling out (direct deposits go first then physical checks start in another week or so).  The goal of this stimulus package is to help our economy.  This morning I was listening to people being interviewed on the radio about how they plan to spend the money and it doesn't sound too good for our economy.  Most said they were going to pay rent, buy food, pay utilities etc no one mentioned buying goods or services.  So I guess we will see how this rebate helps our economy.  As a marketer I thought this was a great time for retailers to create a 600 dollar marketing plan.  I imagine we will start to see lots of promotions from retails on how consumers can use the money and save at their stores or on their services.  

What do you think?  Will consumers spend the 600 dollar tax rebate or use it to pay off current bills?

• If you are a person with decent credit and provable income, you can still take advantage of the low interest rates and low down payment programs. 

• In addition to excellent interest rates, another portion of the equation is inventory. Right now in America you have plenty of choices from which to select. Using simple economics, a high supply with a decreased demand (due to a smaller segment of our population being eligible to qualify), equals the downward pressure of home prices we are seeing virtually from coast to coast.

• Lastly, we have an abundance of motivated sellers and banks. The asset managers of banks are being very generous in negotiating the sale of their foreclosed properties and the economic pinch many homeowners are feeling whether it be from job, adjustable rate maturity, or from their high debt accumulations, are creating a “just get rid of it” mentality which can create a win for a first time home buyers. 

• Investing in your first real estate property can be a bit intimating for most people but like many experiences once you get past doing it once it gets easier.
  

How do you work with first time home buyers and do you agree with Brett?

Today on the Trump Blog Brett Carman wrote about Creative Marketing Ideas for Real Estate During an Economic Downturn. Read the full post for his complete point of view.  Here are a few of the highlights I pulled from the post.  Some interesting ideas.  Not sure if some of these are viable and how they would play out but Brett seems to believe in them. 

• There is more to selling a home than posting the home on the local real estate association’s website and sticking a sign in the yard. You have to be different...STAND OUT in the crowd.

• Look for creative real estate marketing tactics. Ways to make your clients properties look different and show better than the competition. Have you thought about how a $10,000 cash reward would impact someone’s decision to buy (all things being somewhat equal). What about gift certificates for a free cruise? The “net cost” of some of these promotions to the seller can be quite small and could produce big dividends. 

• Have your property professionally “staged” to show it at its best.
  

• With difficulties in obtaining real estate financing for many people, you could act as the bank for a couple of years and owner-finance to help get your property to move (seek an attorney for proper documentation required by your state and federal government).

So have you ever used a creative method to get a house to sell quickly?