The April 2007 issue of Target Marketing magazine has a great article on how to reach the real estate agent market. Realtors are real estate professionals who are members of the National Association of Realtors.
According to the article, the real estate agents comprise a “large market that purchases a wide variety of products and servIces and influences other prospective customers on a daily basis.” Having just bought a house, I can attest to this statement — as I have come to rely on my real estate agent for her recommendation from vendors to interior decorators to painters.
What are the factors that make the real estate agents a ripe market for businesses?
- According to the list management and brokerage firm Mal Dunn Associates, there are more than 1.3 million realtors in the US
- They are typically independent professionals and manages their own business and as such, buy products and services for themselves, their businesses and even their clients
- They are in a position to recommend products and services to clients who are in a buying mood
- They typically run their businesses from their homes, and their home offices often have all the necessary equipment and supplies particularly Internet connections
- According to the National Association of Realtors, the median income for realtors in 2004 and 2005 was $49,300
If you are a business that sells specifically to the real estate market, then the real estate agents are a key part of your target audience. However, even if you sell anywhere, you can also target this huge market. So what do realtors buy and how to reach them?
- Real estate agents are constantly on the move, so mobile products such as cell phones and PDAs are their necessities
- They also buy computers, office furnitures and office supplies
- They are in contact with buyers and sellers looking for products and services such as appliances, furniture, decor, and other home improvement products
If the real estate market interests you, I suggest you read the complete article at Target Marketing