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Ever notice how the same brokers get quoted over and over again in the newspapers? They are probably paying a media relations firm to get them publicity. Or perhaps, they have developed their own PR program by getting to know the real estate reporters and making themselves available as an industry source.
Public relations firms typically charge a monthly retainer to write news releases or pitch story ideas about you to targeted publications. They do their best to get your name in front of as many homebuyers and home sellers as possible by getting you newspapers, magazines, television and radio. Pretty soon, these media outlets will call on you themselves as an industry expert.
Publicity establishes you as an expert. Reporters are always on the lookout for statistics, “reacts” and industry sources to call upon for their stories.
Publicity is affordable. Dollar-for-dollar, public relations is a sensible buy, especially for Realtors who might be on a budget. Since newspapers do not charge a fee to print publicity, the only hard costs incurred are for photography and postage, if you manage your own publicity.
Publicity is credible. An article resulting from a news release has roughly 10 times the impact of an ad. Consider the difference in credibility between a 300-line display ad and a publicity article of the same size. Then consider the difference in cost.
Publicity is easy. You need no special skills or sophisticated technology to do PR. If you want to advise your local real estate editor about a new trend in the market, you can pick up the phone and call, or send a well executed email or news release.
Publicity creates qualified clients. It attracts people who have taken the time to read the real estate sections. They are better informed and favorably predisposed to using you as their broker.
Publicity is consumer oriented. Because publicity runs in editorial space, it helps educate readers. When your clients read your stories, they become more informed consumers…which mean they are usually easier and more productive to work with.
Publicity supports direct mail and advertising. Reprints of publicity stories are credible additions to your other marketing materials.
Publicity runs in many places. If you target your news releases carefully, they may appear in many different publications. Some stories are even picked up by wire services or syndicated columnists, and printed nationally in dozens of newspapers. This, of course, helps attract transferee buyers.
If PR is so great, then why do anything but PR? Because, publicity articles are not guaranteed. Since editors are under no obligation to use your publicity, you can not count on it being picked up.
And, unlike advertising, publicity does not control the message. When you buy advertising space, you pay for what you want to put in that space. But, with publicity, the editor controls the message.
Although some publications offer “play for pay;” (run your publicity when you run an ad), most keep advertising and editorial departments separate. Editorial decisions are based on news value, not on how many advertising dollars you spend with the paper.
The other drawback of PR is also its strength. It is soft sell. Well written news releases will not use adjectives like “dramatic,” “spacious,” or “unique.” Those words are saved for advertising copywriting.
• Realtor wants to be an industry spokesperson or media source.
• Realtor in high-profile controversy needs to “air” his/her side.
• Innovative Realtor wants to communicate new consumer trends.
• New development needs exposure to launch sales momentum.
• Realtor lacks marketing dollars for a major advertising campaign.
• Realtor wants to publicize an important award.
• Realtor needs to ease the strain on the marketing budget.
