Real Estate Marketing
It is consistently ranked as one of the most competitive markets in the service sector. High prices across the nation, growing demand, and solid career advancement opportunities make this market particularly attractive for new brokers.
Either an independent contractor or an agency, you want to grow your business, and real estate marketing agency plays a huge role in attracting new leads.
According to a 2018 study* done by the National Associaton of Realtors (NAR), 87 percent of home buyers purchase their property through an agent.
In this article, you will learn the following:
- How Real Estate Marketing Works?
- What is Real Estate Branding?
- Marketing Strategies for Real Estate Agents
- Creative Marketing Ideas for Real Estate Agents
The market is immense – there’s no denying that. But how can you take advantage of this opportunity and really grow your business? Let’s have a look:
How Real Estate Marketing Works?
Like any other type of marketing, it is essentially a strategy to make your service known to your potential clients and to attract new leads. Putting your offers in front of potential clients is an important part of the picture, but it’s not merely enough.
It should not be confused with real estate advertising. A complete marketing plan includes both advertising, branding, building trust, awareness, but also working with precise concepts like market research, competitive analysis, budgets, and metrics.
It is all about creating a professional image for your business. This means that your potential customers should see you as a professional, someone who understands and can assist them in finding the best deal.
A good marketing plan will help your business be visible, look professional and be an important partner for your potential clients. This translates into more leads, more clients and more sales for your business.
What is Real Estate Branding?
Recent advancements in technology and the power of the internet have made branding hugely important in this sector. The need for an effective and creative branding strategy is more important than ever to help you stand out from the crowd.
Real estate branding is all about being a local star. We all want to buy from a broker that we know and can understand the local market. It’s not about being a nationwide sensation, you just have to be a brand in your community.
You need to build trust, be open to communication, deliver knowledge and integrity. And real estate digital marketing can help you achieve all this. Here’s how:
- your real estate website – start with the domain name; you can use your own name, but try using a variation; add a word or two that shows your profession;
- be active on social media – create and be active on major social media platforms – Facebook, Twitter, Linkedin, and Instagram; social media is a great way to connect with your local community, promote deals and showcase your offers;
- email branding – a lot of your communication will go through email – make sure you have a professional email (firstname.lastname@example.org or email@example.com is good) and a customized email signature. Your signature should be something like this:
John Harris, realtor (your photo or logo)
- manage your brand reputation – once you start promoting your business, you will have to start protecting your brand’s reputation. Pay attention to social media comments or mentions, as well as articles or blog posts. A good idea is to monitor your brand searches with Google Alerts. If there’s positive feedback, say thank you; if there’s a negative comment, deal with it – either by apologizing or explaining it. Keep in mind that managing your brand reputation is an on-going process and you should constantly pay attention to what people are saying about you.
Marketing Strategies for Real Estate Agents
Here are the most important elements of a successful strategy:
Identify your goals and objectives – set realistic, attainable objectives for your plan by examining past performance, market size, and future growth patterns. Use hard numbers to predict your revenue and profits. Make an estimate on the number of clients you expect to have in the next year, the sales volume, the average listing price and numbers of deals closed. If not sure, reach out to other realtors or look for examples in your area.
General marketing goals – determine your marketing goals – Do you want more clients? Do you want to increase brand awareness? Do you want to close an X number of deals in the future? Come up with a plan for each of these questions.
Create your target buyer – this fictional buyer should be the person you have in mind for your marketing plan. In other words, your target buyer is your target audience. Make sure you know who this buyer is when you build your website, social media profiles, design your ads, make videos and promote your offers. Think about specifics like age, location, income, education, family size, interests and hobbies and so on.
Similar to the target buyer, you should create your target seller!
Know your area and community – this is crucial in the market. Your marketing plan should be designed for your specific area or niche. Use geographic, demographic and social data to better understand your community. If you understand the makeup of your market and how it’s expected to change, you’ll communicate better with your audience. A good resource for more information and real estate marketing tools is www.city-data.com.
You can find more in-depth details for marketing strategies for real estate agents here.
Creative Marketing Ideas for Real Estate Agents
Let’s take a look at some real estate marketing ideas that really work:
- offer free – valuations to get more seller leads
- live stream your – business day to day activity on social media – people are naturally curious and would love to see how local real estate agents actually work
- host regular events – a good idea is to host a monthly happy hour open bar, where you invite your clients and their families for a casual get-together. It’s a great way to market yourself organically and get new leads
- create infographics – take useful data and make it attractive and easy to read for your potential clients
- use other social – media platforms, like Snapchat and Pinterest – there are a lot of potential clients here
- create a video series – video marketing is big in this sector – harness its true potential with a video series. A good example is a weekly or monthly “Ask a realtor” series. It’s great for exposure and brand awareness.
- use influencer and community marketing – local bloggers or social media personalities can help you expand your business tremendously.
To give you more creative marketing ideas for real estate agents, you can find it here.