From the Washington Post:
“The battered housing market appears to be on the mend, with sales climbing nationally and prices leveling off, even rising in some spots….On Tuesday, the Standard & Poor’s/Case-Shiller price index, a closely watched gauge, showed that single-family-home prices rose 0.5 percent from April to May, the first monthly increase since 2006. Earlier this week, the Federal government reported an 11 percent rise in new-home sales from May to June, the largest monthly gain in nine years.”

So, according to a key indicator of the housing market, for the first time in nearly three years home prices actually rose month-over-month across the nation. Foreclosures have slowed as well as lenders address new loan-modification programs, and economists think there’s now enough data to show that the housing market is  recovering and even bottoming in some parts of the country. Even the conservative Wall Street Journal reports this indicator data as a possible “change in momentum” for the housing market.

Now that reliable data shows that the bottom is being reached across the nation, it’s time to prepare for the bounce in your market. But your budgets are still tight, and you’re not even sure how to prepare after such an extended downturn. Here are the four marketing fundamentals every homebuilder or real estate brokerage should be doing to prepare for the bounce, with little cash expense required:

1.    Follow Up: Odds are, you already know the person who’s going to buy that house. They’ve likely already visited the community if not the very same unit. Go back to your prospect list and follow up.

2.    One Person’s Inventory is Another’s Content: Utilize the free and low-price targeted online advertising available to you, including trulia.com, zillow.com, newhomesindex.com, move.com, craigslist.com, realtor.com, google base, and others to give the right online searchers numerous opportunities to encounter your offerings, all at incredibly low cost or, at some sites, for free.

3.    Reach Out: Nationwide, more than 50% of all new home sales in 2008 were through a realtor. In fact, some builders saw this figure rise as high as 90% in the last year. It’s not enough to have just an introductory event and send out an occasional postcard. Your outreach must be coordinated, consistent, and actually connect—create events that encourage realtors to bring their clients to experience what your products or communities have to offer, stay up-to-date, and boost the frequency of your contact with them. Get more solid advice on Realtor Outreach from the NDG Blog.

4.    Start Listening: All those nifty social media tools like facebook and twitter are just the means to an end. We’re not just using them to be using them; we’re using them to have a new kind of conversation. Social media channels aren’t like the old, 1-way, broadcast channels where you just yelled at people, frequently. Online, people are talking back, and you must hold up your end of the conversation by genuinely listening and honestly responding. Listening will give you incredible insights; not listening will become dangerously reckless.

Commit to doing these four marketing fundamentals, and you’ll be cost-effectively connecting with your prospects and opening new channels in preparation for the rebound.

Tags: advertising, e-marketing, housing market, marketing, ndg communications, realtor outreach, socia media