As an international real estate marketing consultant, I deal with real estate agents from various countries, willing to sell to foreigners, every day. Ones in a while I hear from some agents: “I do not need any MARKETING, I have to SELL”. When it happens I think: “What is wrong with people? It’s clear to me that FIRST you do MARKETING to find prospective foreign buyers, and SECOND you apply your SELLING techniques to each prospect to get the FINAL RESULT, a sale.”
But then I remember my grandmother’s advice to look at your own doings before blaming others for anything, and think: “Maybe something is wrong with me? I mean I can’t explain it properly?”
I’ve decided to google the key phrase “selling vs. marketing” without much hope (thinking that the difference is too obvious), but discovered that there were so many articles and comments on the topic (and in many comments people thank the articles’ authors for enlightening them on the topic!).
That’s why here is this post on the topic “MARKETING vs. SELLING”, one more – in addition to many others on the internet, but in terms of real estate foreign buyers this time.
Let’s start with the descriptions of marketing and selling. Summarizing many of them that can be found in various dictionaries, wikis and the like, we come up with the following short definitions:
MARKETING is the set of activities aimed at attracting as many potential customers as possible to your product or service.
SELLING is the set of activities aimed at closing a deal with a single prospect.
In terms of real estate and foreign buyers:
MARKETING includes advertising your properties online and in print in foreign languages, presenting them at foreign real estate exhibitions, and in general, spreading the word around that you have those properties for sale (important: let the foreign real estate agents capable of sending you potential buyers, know about your properties for sale!).
SELLING includes convincing an individual foreigner who is already interested in any of your properties (due to your marketing efforts!) to close the deal and purchase the property (important: take into consideration the language and culture of the prospect!).
Now we can clearly see that marketing and selling real estate to the foreign buyers are like the two sides of a coin and never one goes without the other: You have to find a prospect by marketing and then turn him into a buyer by using your selling techniques.
Happy blog reading,
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