Making Buyers See The Demand

 

What I consider to be the most overlooked aspect of real estate marketing has just come across in the high level world of the Las Vegas economy. As the below linked article confirms, a leading CEO is taking issue with the perception of a “demise” being perceived by travelers. It appears to be the same trap which I contend that real estate professionals continue to put themselves into.

The CEO’s point is that despite the inflated prices for a lot of the major entertainment and recreation in Vegas, people continue to pay it because they see the value of the experience. Even though there may be fewer potential patrons than past years, the demand continues to be met. People see that a venue such as The Sphere sells out for major acts and prestigious golf courses are booked even at more than $500 for a round of golf. Concerts and a round of golf typically cost far less in other cities around the country. However, the experience in Las Vegas appears to justify the higher prices.

Real estate associations and brokerages COULD be taking this approach, but, as I have noticed over the years, fail to do so. A huge part of marketing is in the presentation. You don’t have to publish every fact related to a topic, when highlighting certain ones gets the point across.

My real estate example is every time I read a real estate association’s published report that “Home sales in (name of city) are down 5.6% since last year, with 842 homes selling in January”. A huge percentage of the audience reading that info interprets that (name of city) must not be as desirable if fewer buyers are moving there. 

If you disagree, read what the CEO of MGM had to say in the article below. He sees things the same way.

However, if the real estate association report merely stated that “842 homes sold during January only, the coldest month of the year in (name of city)!”, a bigger percentage of the audience would perceive an incredible demand. It wouldn’t matter to them that 950 homes sold there during the previous January. They could add in how appealing the market is if they can point out that mortgage rates were the same or higher during the most recent month!

It should be simple. If home sales are up from the previous reporting period, say it. If they are not, only issue the positive stat. This is the difference between marketing and advertising. I love working with valued clients, students, and connections on making their farm area or target audience look even better than the rest. 

 https://cdcgaming.com/mgm-ceo-says-narrative-about-las-vegas-demise-needs-to-stop/