REAL ESTATE: Ch. 8 - Advertising Flashcards

REAL ESTATE: Ch. 8 - Advertising Flashcards

Advertising Laws:Any person who advertises and is not licensed is subject a

fine or imprisonment.When advertising on the Internet about real estate services, a licensee must identify the name of the broker.Truth in Lending prohibits bait-and-switch advertising - advertising for a property that an agent doesn't intend to sell just to attract buyers for other properties the agent has for sale.Which of these words or phrases might be considered discriminatory when used in advertising?Couples only Promotional ItemsMany firms use gifts, such as pens, pencils, notepads, magnets, calendars and key chains, imprinted with the company name and logo or an agent's name to give away to consumers. These "giveaways" can be distributed at business or social events, trade shows, open houses or when going door-to-door. They are also great as gifts to former clients, to help keep your name fresh in their minds.What kind of ad is illegal in California? Blind ads that do not identify the advertiser as a broker are illegal.Why is television becoming a more common advertising venue?Many cable stations now run "community bulletin boards" that advertise items for sale, including real estate. Also, "home showcase" programs are becoming more common on the cable networks.Telephone DirectoriesEvery real estate office should have a listing in the yellow pages. Use of the classified-display type ad described on a previous screen could prove cost-effective for a firm. Even though it's an expensive advertising method, you can be sure that almost every home in your marketing area will have a copy of the yellow pages.Advertising Media - Radio and TVThe benefit of radio and TV ads is that they reach a much larger audience than other forms of advertising.Radio is particularly effective since most listeners choose to tune in when they are doing something else, such as driving to and from work or relaxing on the patio or in the tub. This substantially increases the number of potential clients you can reach.Television is more expensive, but the increase in the number and popularity of cable stations has put this medium more within the reach of many real estate firms.Some cable stations have a community bulletin board that lists things for sale, including real estate.NewslettersSome firms and agents publish newsletters that have information about the firm and the agent as well as general

information of interest to the readers. This form of advertising is beneficial to agents working in niche markets.For example, an agent who specializes in condominium sales can produce a newsletter about condominium living, featuring a different, specific development in each issue and showcasing that development's activities and special events.Other real-estate related organizations have newsletters in which brokers may advertise and see good results.

Advertising Media - The InternetThe Internet has become a very important advertising medium for real estate companies. Not many years ago, few people used the Internet as a way to locate information about properties for sale. However, in today's marketplace, many prospective buyers conduct detailed searches of

available property on sites such as http://www.realtor.com

and on company websites long before they ever contact an agent directly.Maintaining an Internet site is relatively inexpensive. However, it does no good for you to have a site if no one knows it exists. That's why it's critically important for you to have your web address printed on all of your other advertising.To avoid confusion with their advertising plan, many firms

choose to have a single person in the office in charge of:

Watching advertising costs, controlling volume, scheduling the advertising that meets the objectives, compiling advertising data and evaluating the effectiveness of the ads placed.Advertising Media - MagazinesA magazine ad, although significantly more expensive than newspaper advertising, could be just what a firm needs to attract wealthy clients to their upscale offerings. Or a specialty magazine could be the appropriate venue for a particularly unique property.Area homebuyer magazines are effective vehicles for reaching the newcomer market and are available in most California areas. Some such magazines focus on new home developments.Typical forms of newspaper advertising include: Classified adsDisplay adsClassified-display adsPress releases Advertising Media - The InternetSome pages that have

become "standards" for real estate sites are:

About Us - This page gives information about the company and the agents.Current Listings - These pages give detailed descriptions of your listings, including photos. It's a good idea to have a "search" feature that allows visitors to enter parameters for the kind of property they want - such as number of bedrooms, price, lot size, location, etc.Visitors should also be able to find a property using the MLS or property number.What kind of ad usually combines both institutional and product advertising?Display Which of these is not an AIDA characteristic? Activity All of these would be effective at capturing a reader's attention except which?Use as little white space as possible.Use a question as a headline.Use available color.Make the headline bold and all caps.Use as little white space as possible.Name TagThis is very important. If you are a REALTOR®, make sure your name tag says so. Also include any professional designation, such as GRI.

Which of these is a free form of advertising?Shopping guidesTelephone directoryPress releaseBlind ad Press release Knowing When and What to AdvertiseTo help with this, many firms choose to have a single

person in the office in charge of:Watching advertising

costs.Controlling volume.Scheduling the advertising that meets the objectives.Compiling advertising data.Evaluating the effectiveness of the ads placed.What is the difference between classified ads and display ads?Classified ads are inexpensive, contain words only and are printed in the classified section of the paper. Display ads are expensive, can contain words, pictures and graphics and are printed outside the classified section of the paper.Car SignsThese magnetic signs are inexpensive and get results. Be sure the signs include your name, your firm's name and logo and your phone number.What is important to remember about capturing the reader's attention?This is the most critical step. If you don't capture the attention, you can't deliver the message.What kind of advertising does the Truth in Lending Act prohibit?Bait-and-switch advertising Advertising Media - NewspapersNewspaper advertising is probably the most common and often the most effective form of advertising for residential property.All newspaper ads should have the broker's name, phone number and Internet address.Any ad that does not identify the advertiser as a broker is known as a blind ad.Blind ads are illegal in California.Press ReleasesNot really an "ad" per se, a press release is free advertising. Many of the stories in the real estate section of the paper are adapted from press releases. This is a real plus for the company that is the subject of the article, since readers tend to be much more impressed with a news story that showcases the expertise of the firm than an ad written by the firm itself.Other Forms of AdvertisingPersonal Advertising. Other forms of advertising you can use include video clips or photo ads that run at movie theaters, a promotional video of yourself and your services that plays on your website, or an electronic message board. Almost any kind of advertising that you can imagine and afford can be done!

Ads must:Capture the reader's attention - this step is critical. You

can't deliver your message to the reader until you've grabbed his or her attention.Arouse interest in your product

• pique the reader's curiosity about what you are

offeringCreate a desire for the product - your ad should inspire the readers' confidence in your firm and your product.Prompt the reader to action - such as calling, e-mailing or visiting you or your office