The real estate industry has developed dramatically in the modern world today. Over 1.5 million realtors were members of the National Association of Realtors (NAR) over a decade ago. The industry has been shaken in recent turbulent times, with the figure dropping to less than a million in 2012.
These problems, however, have not affected the potential of this industry’s growth. The National Association of Realtors has reported that close to 90% of home buyers have sought the services of real estate agents. Realtors have increased steadily over the last few years, with competition getting stiffer every day.
With every industry in the world gradually embracing technology, realtors have to use every opportunity to maximize their chances to sell. No matter how you approach the real estate industry, salesmanship should be an extension of your specialized skill-set. The industry has created unlimited ways and platforms to market real estate.
Realtors should be equipped with the right marketing skills online and offline to get a better chance of succeeding. Other conventional methods like direct mail have had a resurgence in the industry in recent years and are proving to be very useful.
Real estate requires aggressiveness and being smart at the same time. It is essential to keep up with customer demands to leave a good impression. The New Year comes with many opportunities.
Many people will try new initiatives and invest in innovating more ways to outdo their competition. There are several proven methods and strategies that have enabled realtors to sell more effectively than before. Use these methods to get yourself ahead and avoid floundering in the vast sea of competition.
Digital and Social Marketing
One of the primary importance of using digital marketing is that it gives you data-based, adjustable, and measurable results. To keep up with the competition, you need to execute a well-planned digital marketing strategy through various platforms available online.
Building an excellent professional website will be one of the essential factors for your online marketing strategy. When creating a website, focus on factors that may seem trivial, like the ease of navigation, readability, relatability, speed of navigation, etc.
On the other hand, make sure you are not left behind by having all social media accounts in both the large and small networks. Some of these networks are google+, Facebook, Instagram, pinterest, twitter among many others. Clients need someone they can relate with. These platforms are perfect to connect with clients by updating them and uploading frequent advertisements on new developments. You can also invest in quality photography to produce amazing pictures. Impressive pictures have a likelihood of remaining in people’s minds for hours.
Additionally, it is vital for you to make it easier for potential clients to share favorite pictures with family and friends. You can do this by adding social sharing buttons since most of them are eager to consult. At the same time, ensure that your contact information is available and structured in a way that grabs their attention.
Using direct mail
A common misconception in the present day is that direct mail is outdated and cannot be effective in the Real estate industry.
Nothing could be farther from reality. Sending direct mails to clients recaps many benefits. With everyone trying to keep up with digital trends, opportunities open up in the least expected areas and prove to be more effective than online marketing. Many entrepreneurs have realized the opportunities in the business industry by investing in direct mail and working extensively with specific industries.
The direct mail sector has also embraced technology by using the United States Postal System to track mails. You can also personally log in to track the mails when posting for someone else. Some companies also provide custom mailing lists and hundreds of templates for anyone in the real estate industry with no order minimums. An example of a company that has specialized in working with realtors is Wise Pelican (wisepelican.com).
Direct mail is easier to understand, making it more effective than many other methods. A hard copy of information stands out, making customers see the point in the message. Additionally, it is a unique way of connecting with your clients. It is difficult to forget how much effort the realtor has taken by taking the time and using funds to write your name & address and mailing it to you.
Use of Conventional Methods of Marketing e.g., Word of Mouth
Since most clients use agents in the real estate industry, realtors should question themselves on how to be the first choice. Word of mouth is one of the vital and most effective marketing strategies for realtors. 40% of clients choose agents referred to them by other people, 12% by a previous agent they worked with, and 5% through open houses. The vast gap between the referrals and the two different categories is alarming. This shows that excellent customer service is essential in capitalizing on word of mouth marketing. Getting your clients to speak on your behalf is a lifetime investment in success.
New agents have the challenge of getting known and trusted by clients. Agents should start networking from their families, neighbors, and friends. That way, you build a foundation for people to start knowing you and what you can offer. As a new agent, you should politely ask any other willing person to make a word of mouth referral for you. For realtors that have worked for clients, it is smart to ask them for testimonials for you to post online.
Keeping in touch with all your clients guarantees memorability hence guaranteeing your name popping up when someone asks for a good realtor. An example of how this could be achieved is by sending gifts and birthday cards.
By making yourself familiar, it is important to know how to evaluate the client’s needs and financial ability. Clients want to be around people who create a comfortable environment where they can talk and inquire freely. You need to put the clients’ needs first and think beyond your company’s objectives. Integrity, transparency, honesty, and attitude are the most essential behavioral and personality requirements by clients for word of mouth strategy to be effective. Agents should work to improve these attributes.
Use of Public Relations and Charity
An in-depth of your local real estate industry is vital in leaving a lasting impression on clients. Clients want to believe that real estate agents know their surroundings and every inch of the property. They want assurance that they won’t miss anything. Because of this, it’s advisable to familiarize yourself not only with the geographical area but also people living there. Also, a good realtor makes time to gather the available inventory and understand the market dynamics. Participating in charity events gives clients a good impression of your personality.
Develop your Brand
Branding is essential in marketing yourself. It is a way to connect with potential clients by letting them know what you do and what you can offer them. You should set up your mission, create a business plan and design a recognizable, professional logo as a form of identity. All these factors create a basis for your services.
Developing a brand also enables you to reach out to a large number of people and builds a strong foundation that will help you market yourself for decades to come. Additionally, you will be able to shift your energy and focus on other important matters. Remember to design a unique business card and hand them out like pizza flyers on the weekend!