Marketing 101 Part 2 - Let's Go Fishing

I have done a fair amount of fishing in my life, in different locations, in different countries and for different types of fish. Over my career, as I developed knowledge in the practice of Real Estate, I became intrigued with the similarity that exists between Real Estate and Fishing.
                              
Let’s take a look at these similarities in a marketing context and see what we can land from the comparison.

Firstly, there are basically three types of fisherman, and perhaps you can recognize which one you are in your practice of Real Estate.

1)  THE COMMERCIAL FISHERMAN

This represents the person who is very committed to their career. They have a driving need to get up and go fishing every day no matter how adverse the weather or how badly they feel. They prepare their gear the night before and they are up early in order to beat their competition to the fishing grounds. Their driving force is survival and it is fuelled by need. They know that if they do not have these disciplines in place the payments on the boat will not be met, the crew will not be paid, their mortgage will be in jeopardy and there won’t be food on the table for the family. They know their trade and they constantly sharpen their skills so that they are never at a disadvantage.

2)  THE SPORTS FISHERMAN

Now these fishermen are interesting characters. You see, I was very definitely a commercial fisherman when I was plying my trade. Oh how I envied the sports fishermen!  They didn't really need to go fishing because they were fortunate enough to have a second or third source of income. They knew the mortgage (if they had one) would be paid and they would be provided for, even if they did not catch a fish. They went fishing because they enjoyed fishing. They simply loved the challenge, the freedom and above all, the thrill of the catch. They are always in pursuit of the “big one”, always have expensive and up-to-date tackle and never ever seem to be under pressure. What amazed me most was that they would sometimes be found fishing even before the commercial boats arrived!

3)  THE CASUAL FISHERMAN

This group represents fishermen that have no real motivation or purpose. They use old and beat up tackle and are fishing much the same way as they were 10 years ago. They have very little reward for the time they spend fishing. You will usually find them fishing at the end of the dock with a hand line, a bent pin and a few emaciated worms. They dangle the bait in the water hoping they will catch an occasional unsuspecting relative!
                              
Now, if you took the time to read the descriptions, you will have a suspicion which group you belong to. You will also suspect which group others you associate with belong to. If you belong to the third group, and I hope you don't, you represent a dying breed that will one day be extinct. At one time our industry was plagued with this type of indifferent agent. These days the fish are much smarter, more demanding and much more selective. There are also a lot more good fishermen competing for the same fish.
                              
If you represent the last group you will probably not be very interested in the marketing information that will follow and are probably looking for the "delete" button right now. However the first two groups will want to learn more since they are always trying to sharpen their skills.
                               
We will next discuss the principles of marketing as it relates to the practice of Real Estate. 

Stay tuned!

Coach