REM 300 Lecture 3: real estate management ch 3

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 300
• Professor: David Vivian

Document Summary

Real estate marketing separated into: types of real estate marketing studies, elements of a marketing plan, elements of a marketing plan marketing residential properties, marketing income properties, marketing special properties, selling big ticket real estate, marketing distressed properties. Real estate marketing: the product sold is space. Therefore marketing is second only to construction, best paying jobs that require comprehensive understanding of all elements of real estate decision making. Market research composed of primary data and secondary data. Primary data: developed directly by the market researcher, such as conducting surveys. Secondary data: gathered from existing studies, ex census figures and trade association data like demographic studies. Analyze the data to determine whether a proposed product of service can be sold successfully. Relates to real estate, determine whether a real estate project can be carried out successfully in a financial investment sense. Factors such as construction costs, time lag, and other risks in purchasing and developing the site.