Marketing guru Seth Godin responded to some questions that I emailed him about the real estate business. I was curious to know what he would do if he were a Realtor. I asked him 3 questions and you will see his responses below. Seth is the marketing mind behind The Purple Cow, All Marketers are Liars, The Dip plus much more.
Ubertor: If you were a Realtor what one way would you market yourself differently?
Seth Godin: It wouldn’t be marketing, it would be what I DO. I would specialize obsessively. On a neighborhood or a market segment. I’d only sell restaurants, or condos, or to the gay community. I wouldn’t start doing ANYTHING where I didn’t have a good chance to be the best in the world at it.
Ubertor: What mistake do most Realtors make when marketing a home?
Seth Godin: They act like invisible middlemen. Here’s the question: if you had to charge a 7% commission instead, how would you justify it?
do that.
Ubertor: How would you pick a Realtor to sell your home?
Seth Godin:
Someone I trusted
Someone respected
Someone who was the clear and obvious best choice!
If you looking for an always entertaining, good read, then check out Seth’s blog. He always has something to say that is interesting and entertaining. Be sure to subscribe to his blog email feed.
11/14/2007 at 1:33 am
I cornered Seth before his talk today at NAR. He’s a really interesting guy and I am a follower and a sneezer of purple cow. I think Seth is right on the money that advertising the old way doesn’t work anymore. You gotta get people talking about you.
If I was going to be a real estate agent this is what I would do:
1. I would get hyper local. I would choose a condo complex, a neighborhood, an area and become the world’s foremost expert on it.
2. I would farm that area. However, I would print something useful and remarkable on there. Something that sparks curiosity.
3. I would build a community around myself.
4. I would work in a team. I’m a geek, selling homes isn’t my forté, the web is. I would work with the best sales agents I could find. The best geeks I can find. The best marketing people I can find.
5. I would make it a pleasure to buy from me. Seth made a good point, realtors don’t sell to homeless people. Most buyers buy out of want not need.
Yea that’s what I’d do… 🙂
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11/16/2007 at 4:16 pm
I’ve just discovered Seth and the purple cow thing. Boy am I glad I started “specializing” a year ago. Now I’m refining it.
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11/20/2007 at 5:08 am
Yawn…Poor Seth, He is a one idea pony. Niching, now micro niching….Niche agents are generally the WORST agents! No cross polinated experience and very minimal world view. Generally populated by the Ego driven low producers. The reality of Niching is once successful there is usually a flight to “generalization” in order to increase market share and reach.
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1/30/2008 at 10:31 am
I have to agree with Mark above. Specializing will only take you so far. However, providing exceptional service, appreciation for your client base and constant contact while providing them with real ongoing value is the key to long term success. Your clients need to think you’re the best thing since sliced bread even after they bought or sold their home.
4/19/2011 at 6:47 am
I have never heard of Seth Godin before. Interesting man, seems like he really understands marketing. Thanks, this is an excellent post!