Bodnarchuk suggests basic strategies for marketing real estate.
Bodnarchuk (New Economy, New Rules: 10 Essential Sales and Marketing Strategies for Real Estate Developers; 2009), former marketing strategist for the defunct boy bands ’N Sync and Backstreet Boys, has turned his skills and attention to real estate marketing. Helming the Canadian-based company N5R for the past 15 years, Bodnarchuk helps real estate developers properly market their properties in an effort to exponentially increase sales. While the author aims to provide “10 essential strategies,” most are the usual suspects found in marketing books, such as using search engine optimization, social media, lead tracking and follow-up (referred to as “touchpoints”). Though the information and advice is practical, it merely scratches the surface of strategy and implementation. In addition, the limited quantity of case studies makes it difficult to observe the author’s advice in action. One strategy, from the chapter Leverage the Herd Mentality, seems dated: Bodnarchuk discusses a rental unit he bought 20 years ago and how he persuaded 15 people to stand in line to view the unit on a freezing Canadian winter day—a tactic that would be difficult to execute in the depressed real estate market of today. Another approach, however, Forget Logic & Reason, Sell Lifestyle, is one of the more practical and useful recommendations. It advises the salesperson to create an emotional visual for the buyer and describe their imagined life in the property, rather than simply pointing out obvious facts like the kitchen’s location and the unit’s square footage. This compact marketing manual identifies the basics, but its lack of detail and case studies makes it less of a hands-on guide and more of a shout out to Hubspot (software for tracking inbound leads) and N5R.
Independent agents and brokers may find a helpful suggestion or two for advertising and showing properties.