Marketing yourself as an expert who brokers properties is never easy, especially when you live in an area with others who are just as competent. So how do you market yourself while preserving the integrity of other realtors? Here are some of the most important keys to successfully marketing yourself as a real estate agent.
1. Focus on your Sphere of Influence
If you advertise to everyone, you will speak to no one. Focus on your sphere of influence and make sure they understand who you are and that they can trust your opinion before advertising businesses outside of this group.
Your sphere of influence is the family, friends, relatives, colleagues, or anyone else you contact every day that can bring your business. This group is already very familiar with what you do and your competitive advantage over others in the business.
At first, most real estate transactions will come from someone you already know professionally or personally, so focusing your efforts on them will bring positive results. Once you have your sphere of influence secure, it will be easier for you to advertise to the rest of the population.
2. Be Consistent with Your Marketing
Like most things in life, you will get out exactly what you put in. This holds in your marketing efforts. If you focus and are consistent with your marketing (at least 1-2 hours every day or every other day) over a long period, you will see results in the way of clients and sales.
Consistent marketing is also a way to continually build your sphere of influence and increase sales within this group. Here are some of the ways realtors can stay in front of their target audience even when they don't have a listing:
- Sending postcards – We are all inundated with junk mail these days, and the last thing people want is your junk. But sending postcards is a great way to reach out to your target audience and let them know you are available for a call or email. This can be done every day or as often as you would like.
- Attending networking events is an excellent way to stay in touch with your target audience at local events – No one likes to attend 50 networking events a year, but if you do 3-4 per year, this is an effective way of getting the word out about your services.
- Sending out emails – Just as with your postcards, you want to be consistent with your emails, including important information and keeping it professional.
- Advertise on social media – Facebook, twitter, and Pinterest are all great places to advertise, and LinkedIn if you are looking to target other realtors specifically.
3. Leverage Both Free and Paid Marketing
Free marketing can never be overlooked, especially if you have a budget cut. While free marketing can get your name in front of many people, it doesn't guarantee a sale or any return on investment.
The key to using free marketing effectively is paying close attention to what kind of information your audience (i.e., homebuyers) is looking for and providing the most value in return. It's also important to consider what products you sell and select the marketing that best fits your target market.
Examples of free marketing options include:
- Facebook/Instagram – Both of these social media platforms are an excellent way to reach out to more people and get your name out there. It's important to post engaging and relevant content, especially if you plan on charging people a fee for your services in the future.
- YouTube – A video website that allows users to upload and view videos, YouTube is another avenue for realtors to build their business. If you are starting, it's best to start with a video that people can relate to, such as a top 10 list you've written up on free things you can do when purchasing a home.
- Google My Business – This website allows you to set up a real estate business or business listing and then pay a fee to run ads, search engine optimization and get more visibility on Google.
- Email Drip Campaign – A good way to get your attention while also establishing a rapport with potential clients is to start emailing potential customers every day. Throw in some helpful content as you go along, and that email will keep coming back to you.
Paid advertising is something no one can ignore. While it may not always get you the best ROI, this is a very effective way to reach many people in a short period for a relatively low cost.
The key to paid advertising is to spend money you can afford to lose and never spend more than 1% of your gross earnings each year on advertising. Always be aware of your target market and how you can uniquely help them with your services.
An example of paid marketing is Google Ads, which allows you to target your audience using keywords and phrases and pay a fee to run ads.
4. Joining Professional Organizations (local Chamber of Commerce as an example)
Professional organizations are an excellent way for realtors to network with other professionals and get out about their services.
Most of the time, these organizations are not just realtors but people in all kinds of business. Joining these organizations will help you find new clients and land your first sale quickly. For instance, joining the Chamber of Commerce will enable you to find local organizations and other professionals to help with your marketing efforts.
5. Social Media Ads (Video and Photo)
Social media is an excellent way to reach and connect with potential clients. Advertising with video is one of the best ways to get a long-term impression on potential clients.
While it's important to keep your realtors branding consistent, this is also a great way to share your personality and passion for what you do with the world. Social media also allows you to post photos of homes for sale in the area or relevant photos.
This is a great way to establish trust with potential clients and keep your brand in front of them as often as you can.
6. Real Estate Postcards
The last way to market your business is through direct mail postcards. These are an excellent way to reach as many people as possible because they are very simple and inexpensive to produce.
Postcards can be sent out on a monthly basis and consistently remind people that you are available for a service call or appointment.
This also ensures your business is always at the top of their minds when ready to purchase a home. Postcards are also an excellent way to find new clients and ensure your company stays in front of them until their need for your services arises.
The key to a successful career in real estate is maintaining professionalism while you work. It's also important to develop a deep understanding of the market and strategies to help you achieve your goals.
Marketing is one of the more important elements of your business, but it's also one of the most effective ways to grow. It's a strategy with many benefits: it helps you stay in front of future clients, get more attention and lead to higher sales.