BSBMKG502 Social Media Marketing Assessment: Local Realtors Report

This report provides a comprehensive analysis of Local Realtors' social media marketing strategies. It begins with an examination of current market trends in the real estate industry, including the impact of data availability and personal relationship management. The report then addresses the effect of recent legislative changes, such as Capital Gain Withholding Laws, on the company's performance. A detailed analysis of the marketing mix, including product, price, place, promotion, and people, is presented, highlighting areas for improvement. The report suggests changes to the marketing mix, particularly focusing on premium pricing, employee attitudes, and business location, along with strategies for testing the impact of these changes. It assesses the potential impact of these adjustments on sales and customer satisfaction, outlining the expected benefits and challenges. The report concludes with recommendations for aligning marketing mix changes with company objectives, including increasing revenue and expanding business scope, along with an overview of associated expenses and an email to the Managing Director summarizing the findings and recommendations.

Running head: SOCIAL MEEDIA MARKETING
ASSESSMENT 3
Social Media Marketing
Name of the student
Name of the University
Author notes

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Table of Contents
Analysis of market trends....................................................................................................2
Change in Legislation..........................................................................................................3
Analysis of Marketing Mix..................................................................................................3
The Components of the Marketing that needs to Change....................................................5
Testing Marketing Mix........................................................................................................5
Assessment of the Change impact on Sales.........................................................................6
Assessment of the Change impact on Customers................................................................6
Changes and Objectives.......................................................................................................7
Expenses..............................................................................................................................7
References............................................................................................................................9

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Analysis of market trends
The recent trends of an industry definitely affects thee function and performances of the
company. The real estate industry is hugely depended on such changes. Real estate and its
business are depended on the customer preferences, market conditions, number of estate
availability and economic condition of the country. The trends of real estate over last twelve
months are changing.
 First trends of the industry are that it is based on the data availability. The power of
technology has enabled the companies as well as the customers to have information of
what they actually want. The companies are getting information like contacts, people
with need of house and the biding details in the retail industry auctions. On the other
hand, the customers are getting the information of what type and how many houses are
available in their preferred area. Hence, the real estate world would be relying on data
and information. The lack of the result number might be the result of low data
accessibility of the company. At the same time the employees should check for better
knowledge in technology and data using.
 Second are the personal relationship management issues. Mere customers’ relation will
not help the company to get their target objectives. Local Realtors need to target the first
time home buyers through the buying patterns. The satisfaction of the first time buyers is
measured through their comfort. The mode of transaction is not aimed at competition,
instead providing quality properties to the customers, that is the first time buyers.
Through the means of search engine optimization, the proprietors can search for the
buying patterns of the customers. In this search, they gain familiarity with the deals,

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which can be availed. Local Realtor need to stop their agents to develop personal
relationship only with the customers. More focus should be on SEO marketing, through
ethical contracts with the clients and customers. This can be achieved by the Local
Realtors through effective negotiations and settles, which would help in averting the
instances of misunderstandings and conflicts. Special attention needs to be given to the
actions of middlemen, involving in the selling of the properties, as it would act as a
breach of the standards and protocols of the ethical code of conduct.
 The new companies are entering the market of Australian real estate. This will definitely
change the companies already there in the market. These new companies have their own
strategies that are more innovative. Local realtors have to be more innovative and
inclusive in their approach to the market. The single target or the first time couple has
limited the scope for expansion in the market.
Change in Legislation
Certain changes in the lesgislation have altered the equations between the vendor and the
purchaser. The Capital Gain Withholding Laws has increased the challenges for the foreign
buyers of the property (eac.com.au 2018). This law can affect the results of Local Realtors as this
will affect the relationship between the foreign residents seeking for home in Australia. The
lending rules of the legislations sometimes affect the business of Local realtor as well. Other than
that legislation has not impacted the real estate industry of Australia.
Analysis of Marketing Mix
Product

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The basic service involves the interactions between home buyers and sellers. Variation
prevails in these services in the form of information related to the suspects and prospects from
the purchase. These variations influence the purchasing decisions and power of the home buyers.
Clients and champions are the agents, who avail the services of real estate. As a matter of
specification, the target market of Local Realtors is the young couples who are trying to buy their
new houses (Wei 2017). Variation in this context would be the businessmen shifting in the
Melbourne area with their families.
Price
The total selling commission of the properties can be another reason that the total costs
for the company is increasing. Hence, the profit margins are decreasing and the company is not
being able to meet their targets. Premium pricing techniques need to be adopted for expanding
the customer rates. In this context, meetings can be conducted with the trade union members for
gaining an insight into the ways of dealing with the financial instabilities like inflation, high
exchange rates and others.
Place
The previous marketing mix was limited to Melbourne in Australia. There are scopes of
business expansion in other important areas of the Australia. Putting the business force at the
specific part of the country can be reason off lower profit margin as well. Special projects can be
planned in the remote, which can be connected to the mainstream business through navigation.
Promotion

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Promotions for the company are mainly done through traditional methods. In the previous
marketing mix, there was the indication of using social media for the same. As opined by Gillon
and Gibbs (2018), the problem with the idea is that social media is not the only thing for
advertisements. The company has missed SEO marketing strategy that is most important for
modern business. Google search engine optimization can be used for directly going to the page,
which contains information on the purchasing patterns and decisions of the first time home
buyers. AdWords can also be referred for gaining an insight into the specific demands of the
customers. Social media marketing is also effective in terms of promoting the properties planned.
People and Customers
As for the business concern, people associated with the company are becoming more
aware off the deals they want to seal. The employees or the agents off the Local Realtor,
therefore, need to be pushed less for building private relationship for customer satisfaction
(Hulse et al 2018). Rather they must try to develop their resumes in a way that Google should put
their name first in websites. Recommendations can be proposed for using security cookies and
policies in the information forwarded by the customers. This approach would be effective for
averting the intervention of the third parties in the selling and buying of the properties.
The Components of the Marketing that needs to Change
The marketing mix components people and customer suggestions, price and the place for
business need to be changed. These are the part of marketing mix that can affect the business
number for Local Realtors. The present trends of the industry indicates that there need to be
adopt premium pricing strategies, people or employee attitudes and places the company deals in.

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Testing Marketing Mix
Place
The business advantage of the company can be tested if the results of change in place are
judged. The Local Realtor can take into consideration the expansion of their business beyond
Melbourne. There is a huge market for real estate outside that one place. More options for the
real estate’s will attract more customers (Jreisat 2018). The business will grow and the number of
customers will be increased too.
People
Training the people of the company to be more tech savvy and reaching the customers
through online marketing is a better option. The employees or the agents off the Local Realtor,
therefore, need to be pushed less for building private relationship for customer satisfaction.
Rather they must try to develop their resumes in a way that Google should put their name first in
websites. The results can be test by the number of leads each agent is succeeding to finalize. This
way, the company will be able to keep an account of what is going on with their people. They
will also get the idea of customer satisfaction at the point and how they can improve the scope of
development in their strategy.
Assessment of the Change impact on Sales
The changes that are suggested in this report will increase the sales for the company. The
main reason is that through these changes, the company will get more scopes for improvements
and expansion the main target of the company would be increase the number of deals with the

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new couples in search of homes. Other than that changes in the place options and expanding the
business beyond Melbourne will definitely help (Wei 2017). There will be some challenges that
the company might have to face. The first of it is the challenge in the employee attitude. The
company has to train their agents to cover more areas in the business. As their interaction will be
lessened because of the SEO marketing, they will get more time in doing other things (Shearer et
al. 2016). The agents have to work with more enthusiasm in their projects.
Assessment of the Change impact on Customers
The changes that are been suggested in this report will be instrumental in getting the
customer base sorted. The reason for the success would be the fact that the company will be bale
to reach more customers. They would have a better brand image among the customers. Again
following the trend will give a positive image to the consumers in the section (Costello et al.
2019). The companies are getting information like contacts, people with need of house and the
biding details in the retail industry auctions. The lack of the result number might be the result of
low data accessibility of the company. There is a huge need for up gradation and that will be
done through the changes in place and promotion. The targets of agents will be changed so that
thee customers can buy what they want. They will be able to reach the agents through the search
engines more effectively. According to Costello et al. (2019), this will not only increase the
business of the company, at the same time, they will be satisfied with more sorted and varied
option for their new houses. On the other hand, the customers are getting the information of what
type and how many houses are available in their preferred area (Rogers 2017). Hence, the real
estate world would be relying on data and information.

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Changes and Objectives
Changes in the marketing mix that are presently suggested will impact the objectives of
the company. The first aim of the company was to increase the sales numbers. The revenue of
the business was expected to be exceeding $1.7 million. The change in the promotions and
employee and customers relation management will change the end result of the company
business. People will get more options from the company to choose with. Again, the young
couples will easily get the contact details of the company. They will be able to reach the agents
more specifically than the previous days. Over and all the changes are directed to get an overall
impact of sales. The sales will be increased and the targeted revenue would be created. This way,
the company will also be able to increase the scope of their business. The economic turbulence
of the market will not affect the business as much as it does in present context.
Expenses
Thee expanses will be minimum for the training and promotional purposes. The company
will have to increase their operational expenses by 3% in order to have advertisements in the
SEO platforms an train their agents to do multi tasking. This amount of money can be managed
for the better results of the company performance.

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Email to the Managing Director
To
The Managing Director
Local Realtors
Respected Sir/Madam,
This is to inform you that our company Local Realtors is going through some challenges in managing the
marketing aspects properly. The objectives that were set in last few years are not being fulfilled for some
issues. This report has a detailed discussion of what are the reasons of such results and what can be the
possible solution to it. The changes in the previous marketing mix are necessary in order to get the set
targets on point. Therefore, this report is essential to analyze the reason and work accordingly.
I would be obliged if you look into the matter by reviewing the marketing mix report.
Regards,
(______________)

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References
Costello, G., Leishman, C., Rowley, S. and Watkins, C., 2019. Drivers of spatial change in urban
housing submarkets. The Geographical Journal, 185(4), pp.432-446.
Eac.com.au 2018, Legislation and industry changes for the property industry brought to you by
the Australian College of Professionals, available at: https://eac.com.au/2018/04/25/legislation-
and-industry-changes-for-the-property-industry-brought-to-you-by-the-australian-college-of-
professionals/
Gillon, C. and Gibbs, L., 2018. Selling surf and turf: throwntogetherness and real estate
advertising on the suburbanising east Australian coastline. Social & Cultural Geography, 19(8),
pp.1006-1027.
Hulse, K., Martin, C., James, A. and Stone, W., 2018. Private rental in transition: institutional
change, technology and innovation in Australia.
Jreisat, A., 2018. Productivity growth of the Australian real estate investment trusts. Electronic
Journal of Applied Statistical Analysis, 11(1), pp.58-73.
Rogers, D., 2017. Becoming a super-rich foreign real estate investor: Globalising real estate data,
publications and events. In Cities and the Super-Rich (pp. 85-104). Palgrave Macmillan, New
York.

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Shearer, H., Coiacetto, E., Dodson, J. and Taygfeld, P., 2016. How the structure of the Australian
housing development industry influences climate change adaptation. Housing Studies, 31(7),
pp.809-828.
Wei, H., 2017. Australian Real Estate Stock Reactions to FIRB Regulation Changes.