public relations

Using Market Data to Drive Media Coverage

by Steve Cook on March 22, 2016

real estate data drive news

Are you getting published in your local media? Is your firm shaping the way opinion leaders and real estate consumers view critical issues in your housing market Associations, MLSs, and brokerages have access to the best local data ever available on trends in their local markets. Sales, prices, inventories, time on market—every day real estate professionals interpret these and other data to win the confidence of their customers and clients. You have a significant opportunity to turn market data into news that attracts business and establishes credibility. National data services like RealtyTrac and CoreLogic as well as sites like Realtor.com, Zillow and Redfin have perfected the practice of building awareness by creating news from their data. As a result, it is easier for consumers to track the non-existent “national” real estate market than their local marketplace. They are hungry for a better understanding of current trends where they live. Market trends aren’t always positive. Lower sales, falling prices, distress sales and tight inventories are part of the real estate business, but they can also generate negative coverage. If you are a credible source and on top of the market, you can mitigate potentially damaging data by putting it into perspective. Remember, the market is always working to someone’s advantage. Lower prices advantage buyers and first time home buyers. Distressed sales create opportunities for property management and investors. Tight inventories drive consumers to sign up with brokers for new listing notifications. Great communications programs highlight the good in everything. Your communications staff or PR firm can help you create news from local market trends, or you can turn to WAV Group Communications to create an effective communications program for your market. Below is an example of how we might handle one of the hottest stories in real estate—chronically low inventories: February Housing Market is Shaping up to be the Sellers’ Market of a Decade February home sales were stronger than normal as demand continued to reduce the average time that houses are selling in Ourtown, according to the latest data available to XYZ Realty. Lower inventories of homes for sale could reflect a national pattern that is creating unusual opportunities for sellers as the spring buying season opens. Sales rose 2 percent from January and now are running 5 percent higher than they were a year ago. New listings also increased 6 percent, but total homes for sale are still below […]

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Do you have a PR plan for 2016?

by Kevin Hawkins on January 21, 2016

Public relations may be one of the most underappreciated and misunderstood tools in the average real estate brokerage’s marketing arsenal. Yet, the more you understand public relations and how it can be fully integrated into your marketing plans and sales activities, the greater your ability will be to make both more effective. As we begin a new year, ask yourself this question: Do you have a PR plan for 2016? What is PR? It’s no wonder most people are confused when trying to describe what PR really is. Trying to find one universal definition is futile: there are dozens. Here are just a handful of definitions from PR practitioners that show you the breadth and depth of what PR actually is: “Public relations is the art and science of sharing genuine, credible, relevant news and information to grow, maintain and protect brand acceptance, awareness, reputation and sales, when appropriate. Public Relations creates measurable, fact- based conversations, events and activities conceived to generate positive, third party endorsements and target audience buy-in.” –Deborah Weinstein “Public relations is a highly strategic discipline that’s integrated with marketing to achieve business goals. It positions companies and spokespeople with key audiences, whether internal or external. Public relations complements an integrated marketing campaign with measurable results garnered through media relations, social media, thought leadership, industry analyst relations, investor relations and/or special events.” – Jayme Soulati “Public relations communicates the news, influences the news, receives the news, and responds to the news for a brand via the media. It’s the art and science of talking to the right audience in the right voice. PR is the communication hub of an organization. It influences and shapes a company’s image, reputation, brand perception and culture. PR connects a brand and its public via direct messages or editorial media including print, broadcast, radio, digital, video or social media.” –Lisa Buyer “PR is the process of making a heartfelt connection between a person or organization and the people who can truly benefit from and care about their message. It’s an awareness of what makes people tick, facilitated by a desire to build communities, engage and discuss, and give voice to worthy projects. PR isn’t mass messaging, spinning truths, or a barrier between the public and the person represented. PR should make genuine connections.” -Shennandoah Diaz What can PR do for your brokerage? Because PR has so many different components and uses every communication channel […]

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3 Ways to Leverage Your PR

by Kevin Hawkins on October 27, 2015

A potential client called recently to engage the services of WAV Group Communications. Typical to most initial conversations with many potential clients in the real estate industry is the misunderstanding of what public relations is. I assured him it was much more than simply writing a good news release and publishing it on a paid wire. That topic alone is another column. But the conversation reminds me of how little time PR people take to educate our industry about what PR is. To help in this effort, let’s explore a crucial area that shows how powerful strategic PR can be using leverage. 3 Ways to Leverage Your PR A major component of public relations is publicity. Once you successfully gain the attention of news media and they run a story about you, your firm or your new product, a lot of companies just sit back and move on to the seeking out the next reporter for the next story. Don’t do that, because once a story runs, you’ve just gotten started. This is where leverage plays a crucial role is strategy public relations. There are three crucial channels you must leverage: External, Internal and Influencers. External Leverage The entire reason you sought publicity in the first place was for a specific purpose, right? Perhaps to help raise awareness, drive sales, incrementally increase revenue, introduce a new product, create a buzz, build moment and interest – whatever your goal, you should take that coverage and leverage it. For example, imagine a story that runs in the NY Times that mentions your new product. Your first act of leverage is to socialize it. Share it through your social media channels: Twitter, LinkedIn, Facebook, Instagram – focusing on the ones you use regularly, even if it is only one. Using popular hash tags are crucial to this act of leverage. Mastering these will exponentially increase your total audience reach. This is where most folks stop. What they forget is not only does your target audience love the NY Times, but so do the major TV news networks. And other newspapers, trade reporters, and bloggers who follow your industry. PR pros will use this story as leverage to gain the attention of other media outlets. The Times coverage not only legitimizes your news, it gives you the opportunity to find another angle to build on what they have reported, giving other media outlets a […]

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