As we head into the peak market for real estate, there has never been a better time to grow your brokerage. But too many real estate companies lean on the hot markets and fail to build a foundation for success.
No market is stagnant. Business and brokerage owners need to invest in real estate marketing in good times and bad to ensure the growth of their company.
Unfortunately, the market can cool. With rising interest rates and home sales dipping in some areas, many companies are trimming marketing costs.
Don’t make that mistake. Despite the market, you can grow your company starting today.
Follow this marketing plan and your company will grow in the good times and the bad.
1. Make the Most of Technology
Real estate has benefited as much from new technology as any business segment. Digital tools have made it easier for clients to find homes while decreasing the time on market for home sales.
It also means real estate companies have to spend less time with clients before making that sale. You don’t need to drive to each property in order to give clients an idea of what’s out there.
But some real estate professionals are still behind the times. By failing to embrace digital tools, they are losing out on sales, listings, and clients.
Don’t make that mistake. Make full use of digital tools, social media, and the latest advances.
This includes staging programs, drone photography, and online content.
2. Become an Expert
For many real estate professionals, their brand is their person. They position themselves in the community as experts.
But sometimes they get lost in the shuffle of extreme competition.
Don’t get lost. Create content online and position yourself as an expert in your field.
For real estate professionals, this isn’t all about a business niche. Instead, you can focus on being an expert on your community.
Offer visitors to your webpage or social media page valuable content in your area of expertise. There is no shortage of questions and concerns a home buyer or seller has.
Invest your time and money into becoming an expert. They will turn to you when they need help.
3. Own Social Media
Not every social media outlet is the right one for your business. They each have distinct advantages that can help highlight your brand.
And trying to focus on every social media outlet can be a disaster. Instead of doing 1 or 2 things well, you may end up doing many very poorly.
But even if you aren’t going to focus on LinkedIn or Twitter, you should register and make sure your company information is correct.
In addition, make sure you focus efforts in a social media campaign that appeals to your potential customer base. The ability to perform target marketing is one of the best real estate marketing ideas in terms of return on investment.
4. Video Can Help Your Clients
If you help your clients, they will help you. And video is a great place to start.
Video content allows you to highlight home features, town features, your expertise, and the unique selling points of neighborhoods and towns.
Your clients are more and more dependent on video online. Focus efforts there in your marketing and your company will grow.
5. Strategic Partners Are Your Friend
Many real estate agents have seen significant growth through strategic partnerships. If investing in social media and digital marketing can grow your network incrementally, partnerships can double it right away.
While you want every client to be a marketing partner of sorts, teaming with companies can help a lot as well.
Highlighting the skills of your staging company, photographers, and home improvement companies can benefit your company as well.
Partnerships should be strategic and mutually-beneficial. But they can also benefit from creativity and thinking outside of the box.
Moving companies, local shops, and restaurants may all provide a great forum for partnerships. And remember, investing in the community means investing in your business.
Sponsor community organizations as well.
6. Develop a Referral Program
If you have invested time and money into your social media marketing, it is important to link this to all aspects of your strategy. Successful agents know that referrals are a keystone to the growth of a real estate company.
Most people prefer referrals or word-of-mouth when it comes to making a buying decision. Use your network and digital marketing efforts to supercharge your referral program.
You already have an advantage if you are investing in digital content. Content that is relevant and interesting to your potential clients can expand your referral network online.
But take it one step further. Feature your former clients online and highlight their successes with the home selling, buying, and listing process.
7. Build Reviews and Manage Your Reputation
Your company will grow significantly with time and effort spent on referrals across all channels. But the next best thing is often focusing on reviews.
Remember, your competition is definitely focusing on review sites. You want to spend the time to register your business and the location of your business to leverage review sites.
But you also need to monitor activity on these sites. Sometimes a bad review can turn into a positive opportunity when addressed on time.
If you don’t know what the community is saying about you and your company, you may be in for trouble, though.
Solicit reviews on your sites from satisfied customers. Also, make sure you invest the time to monitor them.
Protect Your Real Estate Marketing Dollars
Savvy real estate professionals know they need to protect their spending when it comes to real estate marketing. You may be investing marketing dollars into building a brand that isn’t your own.
And when you work for a larger brokerage, it can be frustrating when your share of the commission doesn’t go to marketing efforts that directly help you.
Before you spend another dollar on marketing, it may be time to rethink your strategy. BrokerBreakUp can help.
We are real estate professionals like you. We help real estate professionals build their own brokerage and keep 100% of their commissions.
You can rest assured that all of your marketing dollars are effective and building your business. Come find out why people love us.