Real Estate Business: The Old School vs The New
Thanks to recent advances in technology, things have drastically changed in the business sector in the past decade. The widespread popularity of the internet has certainly made a huge impact on most industries and businesses, including the Canadian real estate market. The changes are very noticeable that you can easily classify the old school vs. the new school of approach in real estate.
Just how different are the two? Let’s pick them apart below and you might just learn a thing or two about the marketing methods available today.
Old School Real Estate
Old school real estate marketing techniques involve what we normally consider as traditional methods. These typically include advertising in the local papers, TV channels, and radio stations. Putting up billboards and signages around town is also another way to practice this method. It also usually involves using a single professional stock photo of the realtor or agent in all of their advertisements and collaterals.
Some also consider creating a website and advertising exclusively there, an old school technique in real estate marketing. While it is already close to most new school methods, it’s now deemed as a traditional technique.
Generally speaking, it utilizes the methods that have been in use for the past couple of decades or so. It’s a very good way to spread the word about your services in your locale which is important to achieve for those in the real estate business.
However, it has quite a few shortcomings. It has a limited scope and can be quite costly. Sure, it can reach your target audience directly but it might not make a mark on those who will see the ads casually. People won’t necessarily go to where the ad is when they’re looking for a real estate professional that can help them buy a house, right?
New School Real Estate
New school real estate, on the other hand, uses a lot of modern ways to market their business and services. They make use of the internet through social media and online advertisements to reach their target audience. They may even come up with very hip methods and campaigns to effectively inform the public of their existence.
This hip approach explores new avenues for the industry to grow and reach potential clients. It offers easier access to professionals as they can be just a few clicks and taps away from everyone else.
However, there are also a few setbacks to practicing new school methods exclusively. One of the biggest concerns some businesses raise is the fact that some of their methods might alienate older home buyers. This can affect the size of your client pool which can also affect your sales.
Which is More Effective?
To be honest, there’s no one answer to this question. A combination of both is the best approach to today’s real estate market. By properly executing the techniques of both methods, you can be sure to reach a wider audience. This can increase your odds of making a sale.
If you’re a real estate professional, you might want to learn more about these two schools of thought in real estate marketing. They’re both useful, so with a good strategy, you should be able to make the most of them.