Real Estate Marketing: Old Game, New Rules
Okay, so you're no real estate marketing whiz, but you know how to get the job done. You built this small empire and you've done very well for yourself. As time has gone on, however, you might have noticed more and more of your business falling through the cracks - maybe even some bread-and-butter clients from the past that somewhere along the line jumped ship to your competition (as described here). Not good. This is going to be you dropping the ball on your marketing or your competition intercepting the ball by proactively putting their marketing in between you and your audience. It's time to get back into the game, full force!
The good news is that you don't have to be an expert in order to help your brand flourish one again. You may or may not need to update your marketing, in fact, often times, it's not so much about changing what you're doing, rather updating the way you're doing them. You see, the core principles of marketing haven't really changed that much. Unfortunately, the real estate marketing channels you may have been using to apply those principles have widened and multiplied to such a degree that reaching homeowners with your old marketing outreach efforts have likely become a new kind of challenge in itself.
How RE Marketing Has Remained The Same
First, let's discuss some of the basics (those things that haven't really changed that much). As you've heard us go over in more detail before, marketing your brand requires:
- Community outreach (building your initial network - you may have a base to work from already)
- Establishing value (constantly bring solid value to the relationships you've built such as welcome kits, updated COMPS, etc.)
- Building trust (don't over-communicate and when you do communicate, make it personal, timely and relevant to their needs)
- Asking for their business (you would be surprised how often agents forget to ask for their client's future business or that of their sphere)
So these are some very simplified points here, right? By the way, if you're not 100% behind these or if you have questions about what they entail, then we recommend researching them further as they represent the core tenants of your business's success. For that purpose, we have some really great marketing tips and best practices for businesses here at offrs.net. Be sure to check back weekly as new articles are created which relate to marketing an agent's brand in today's housing market. But... this is all pretty straightforward. What about how real estate marketing has evolved?
How RE Marketing Has Changed
As mentioned, there are several societal changes that we all have seen happen around us. These won't come as a surprise to you, but they're worth listing out for reference:
- Smart Phones
- Email Filters
- Social Media
- ...and so on
Obviously, we could go on and on with all of the changes that have occurred over the last few years for agents, but for our purposes here, we can sum it up with this simple, single truth... homeowners are inundated and overwhelmed with the sheer number of folks reaching out to them to sell and promote their services. Let's say that another way... aren't you tired of people constantly selling you things (or trying to)? Homeowners are no different.
This is why we encourage you to drop the sales pitch. It just doesn't work anymore (not with everyone - or most people for that matter). In fact, you're not only wasting your time trying to bang homeowners over the head to buy "you," you're actually hurting your brand in the long run by burning through your "trust bank account" with them. Instead of selling them, all you have to do is remain there by their side and find ways to subtly remind them you're there over the years to come.
Systematization and automation tools can help you with this. First, systematization will help you establish templated documentation and outreach procedures (things like COMPs which you can update and make unique for each homeowner and SOPs for who on your team will take care of which stage of outreach and communication, etc.). Of course, if you don't have a RE marketing team, simply substitute those other team members with hats that you'll have to wear!
Don't worry, we wouldn't leave you in the lurch, trying to figure out (on your own) how to automate your marketing processes and break through to your potential RE market! No, we have tools for you to review, of course. For information on these tools and to learn how to bridge the marketing gap for your farm, be sure to visit www.offrs.com and schedule a sit down with one of our business strategists to see which tools you might now be ready for in your business.
...You've got this!
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