Marketing Strategies Utilized by Top Real Estate Agents
Many people think of the real estate industry as a tough, competitive market with a lot of demand. More importantly, it is an industry saturated with information and competition. To gain an advantage over your competitors and potential clients, you must master marketing strategies that top real estate agents utilize.
The first step in learning to market yourself as a real estate agent is understanding the different marketing strategies that top real estate agents commonly utilize. These strategies range from social media and digital marketing to events and networking.
1. Social Media Marketing
Social media sites like Facebook and Instagram are becoming increasingly popular for real estate agents who want to expand their business. Companies like Zillow have made it easier for people to find homes without needing an agent.
The direction in which social media is going makes it a great avenue for real estate agents. For example, Facebook ads were introduced about two years ago and are growing in use yearly. Today, real estate agents can use social media for marketing themselves and their properties.
Having a diverse social media presence will help you build the trust of your potential clients. However, the key to social media marketing is to be specific with posts. When an agent uses a formulaic post on one of these sites, it can be spammy and cause potential clients to tune out. Therefore, simple and concise content are keywords to keep in mind when posting on these sites.
2. Digital Marketing
Focusing on digital marketing strategies like advertising on Google or other search engines can help you increase listings while decreasing the time it takes for new leads to come through your office doors.
For example, if you were advertising your home on the Zillow marketplace, potential buyers would likely go online to find out more details about the property before they call.
Advertising on any search engine can also help you establish a larger social media presence and save time by decreasing the time it takes new leads to come in.
3. Word-of-Mouth Marketing
Nowadays, word-of-mouth marketing is growing rapidly among real estate agents when people get their information from other people rather than from traditional marketing strategies like television commercials or billboards.
A 2017 survey found that 30.6 percent of people said they learned about a business for the first time from word-of-mouth or friends and family, beating out TV advertising at 29.5 percent.
Word-of-mouth marketing works when someone tells a friend, who tells a friend, who tells a friend, and so on. This is because people trust their friends and family more than advertisers when it comes to making big decisions like buying a home or deciding where to dine.
4. Getting Involved in Your Target Community Through Charity
Involvement in your community is another effective way of marketing yourself as a real estate agent. For example, you could help organize a local charity event or meet new people in the community by becoming a member of a business organization.
Also, you could get involved in events like charity walks and make friends with important people that can help promote your business. For example, you could connect with your local chamber of commerce and host an open house you sponsor in their office where you can talk about your experience as a real estate agent.
A good way to get more people talking about your business is by making them feel welcome.
5. Joining Local Business Groups, E.G., Chamber of Commerce
As with any community, if you want to make it easier for neighbors and friends to remember you, joining local organizations can help. Today there are many different types of associations present around the world; they usually have very similar purposes: providing services and support to their members.
Real estate agents can gain from membership in a chamber of commerce, a trade association, or a regional business association. Whether you are looking to help improve the market value of your property or help others sell theirs, knowing your neighborhood is vital for success.
Becoming involved in the community where you want to promote your business will make it easier for people in your area to remember you and trust you enough to allow you to become a part of their real estate dealings.
6. Sending Postcards
In the digital age that we live in today, the traditional real estate postcard is still one of the best forms of marketing available. Postcards are an effective way to reach potential clients when they can be customized with your message. A postcard campaign is also cost-effective and easy to administer because it doesn’t require much extra effort.
You can be as creative as you want with a postcard – you could send them out just before a big sale or almost anytime you want to promote something or invite people to something.
Regardless of when you send them, it’s suggested that you include information about your business that will stand out from the crowd. For example, you could include how much time you’re willing to spend helping a client find their dream home, or maybe how your team goes above and beyond to exceed expectations.
As a rule of thumb, the more creative you are with your postcards, the better response they will generate.
7. Networking and Marketing Through Events
Events allow real estate agents to meet potential clients and initiate good relationships. If your business works in a specific geographic location, running an open house or attending networking events near your area can help customers remember you as a real estate agent.
Also, participating in community events such as charity walks and industry-specific events is a great way to meet people you can invite to your business. According to the Federal Trade Commission’s Small Business Administration office, companies’ commitment when they spend money at industry-related events is one of the top five factors influencing a prospective buyer’s purchase decision.
Being involved with these types of events gives potential clients more reason to trust you and gives them more reasons to want to learn more about your business.
Consistency is key when trying to market yourself as a top real estate agent, so be sure that any marketing strategy you decide on is something that fits into your schedule and into the fabric of who you are. As long as you are passionate about your business and the community you wish to serve, you can find an avenue for marketing that works for you.