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Questions and Answers
A billboard that states 'Thomas Realty - A Name You Can Trust' would be regarded as:
A billboard that states 'Thomas Realty - A Name You Can Trust' would be regarded as:
- Demand advertising
- Institutional advertising (correct)
- Specific advertising
- Operational advertising
The advertising acronym AIDA stands for:
The advertising acronym AIDA stands for:
- Attention, interest, desire, action (correct)
- Attention, interest, demand, action
- Ask, interact, demonstrate, approve
- Ask, inform, demonstrate, approve
In real estate, we have learned that:
In real estate, we have learned that:
- Prospective buyers who respond to newspaper ads are likely to buy a property other than the property advertised
- Neither a nor b
- It is best to advertise properties in areas or price ranges where other properties are also available
- Both a and b (correct)
The best heading for a classified ad on a home would be:
The best heading for a classified ad on a home would be:
In advertising a fixer-upper property:
In advertising a fixer-upper property:
Which statement is true of display advertising?
Which statement is true of display advertising?
Which of the following statements is true as to display advertising?
Which of the following statements is true as to display advertising?
Which promotion would have the lowest cost to the broker?
Which promotion would have the lowest cost to the broker?
In advertising, the real estate agent should know that it is illegal to:
In advertising, the real estate agent should know that it is illegal to:
Which of the following is true as to the truth-in-lending law?
Which of the following is true as to the truth-in-lending law?
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Study Notes
Advertising Concepts and Definitions
- Institutional Advertising: Promotes a company's image or reputation rather than a specific product (E.g., "Thomas Realty - A Name You Can Trust").
- AIDA Model: A marketing framework that stands for Attention, Interest, Desire, and Action, guiding the advertising process.
Real Estate Advertising Insights
- Property Advertising: Best strategies involve advertising properties in areas with similar listings and recognizing that newspaper ad responders may prefer other options.
- Classified Ad Headings: Most effective headlines spotlight the property's most desirable feature to attract buyer attention.
Fixer-Upper Marketing Strategies
- Appeal of Fixer-Uppers: Buyers are drawn to the potential value and bargains associated with fixer-upper properties.
Display Advertising Effectiveness
- Visual Strategy: One large image outperforms multiple smaller pictures, and ads should be organized for logical reading (upper left to lower right).
- Typeface Use: Limiting font variety enhances clarity; more than two typefaces may detract from the ad’s effectiveness.
- Empty Space: White space in ads is crucial for highlighting messages and improving readability.
Cost-Effective Promotions
- Low-Cost Promotions: Press releases represent the most economical method of promotion for brokers compared to billboards, direct mail, or Yellow Pages.
Legal Considerations in Real Estate Advertising
- Legal Compliance: Agents cannot include misleading credit terms, conceal their licensed status, or use abbreviations instead of full firm names in advertisements.
- Truth-in-Lending Law: Agents advertising APR must disclose all related credit terms to comply with federal regulations; bait-and-switch tactics are strictly prohibited.
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