SMPS promoting best practices in RE marketing

Real Estate Weekly,  July 11, 2007  by Deborah Rosenberg

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Marketing for real estate firms and other related professional services practices is certainly not the oldest profession in the world. In fact, it's only been around for several decades. But almost as long as there has been marketing, there has been a professional organization--the Society for Marketing Professional Services [SMPS]--to shape and support its development, promote education, and maintain high professional standards.

SMPS was created in 1973, four years before a milestone ruling by the U. S. Supreme Court [Bates and O'Steen v. State Bar of Arizona] allowed professional services firms to legally advertise and promote their services for the first time. Since then, marketing has developed into a "profession within a profession" for leaders in real estate and related industries, including architecture, interior design, engineering, construction, development, law, and specialty consulting firms. The 30th anniversary of the Bates and O'Steen ruling takes place this year.

Since 1984, the New York Chapter of SMPS has helped connect industry leaders, as well as to advocate for a greater recognition of marketing in order to build their services and achieve greater success. The New York Chapter alone has 250 members, which represents over 200 firms out of 6,000 SMPS members nationwide.

Today, real estate leaders are paying more attention to the marketing function of their businesses as a way to leverage their expertise, uphold their positions the industry, and support their strategic growth. This is particularly important in the New York region, where the building process has become much more complex and the development environment has become increasingly litigious. In addition, competition among firms has risen dramatically in recent years.

As the role of marketing has become more significant, it has evolved from an administrative function into a bona fide career for professionals in the industry and the firms they support. Similar to the way that professional and technical staff have discrete titles and roles, SMPS helped to develop industry-wide standards for marketing that govern specific positions and responsibilities. In recent years, some marketing professionals have even been promoted to principals in their firms.

The definition of marketing is much broader than simply promoting a firm's services and seeking out new business. It also encompasses a range of communications tools, such as public relations, market research, crisis management, and advertising. Marketers themselves have become more proactive in terms of how they have expanded their expertise in response to the needs of the marketplace.

To further support career development, SMPS created a professional certification program [CPSM] to regulate standards in professional practice and elevate the role of marketing, both within firms and the industry itself. The certificate recognizes a demonstrated knowledge base of skills, including market research, marketing plans, client and business development, promotional activities and information, resource and organizational management.

In addition to participating in national and regional conferences, the New York Chapter of SMPS holds a wide range of educational and professional programs throughout the year. The Chapter actively reaches out to related local organizations in order to promote best practices in marketing and business development throughout the real estate community.

BY DEBORAH ROSENBERG

PRESIDENT, NEW YORK CHAPTER

COPYRIGHT 2007 Hagedorn Publication
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