Real Estate Business Is Changing. Arm Yourself With The Right Marketing Strategy!
Real Estate has been around for a long time, pretty much as long as there has been land to own. As a real estate agent or broker, you cannot just seize land or property by force like Alexander the Great or William the Conqueror. Even so, real estate can still definitely seem like a battle.
To win over your clients and defeat the competition, you’re going to need a strategy that’s not only effective, but also the right tools and team to get the job done. Here are some things to consider before you get onto the battlefield.
Your competition is your biggest obstacle
Anyone who studies economics will tell you that when it comes to good business decisions and opportunities, you have to follow the law of supply and demand. I’m not referring to how many houses are on the market; I am referring to how many agents and brokers there are in general. The number of active brokers has been steadily falling for over 9 years running from about 110,000 in 2010 to about 95,000 in 2019. Interestingly, since 2014, the number of active agents has grown to about 2.2 for every active broker. With the historical average at about 1.5 active agents per broker.
What does this mean for you as an agent? It means your competition is about 46% greater than it normally is. The best strategy for yourself as an agent would then be to at least double your chances of getting noticed. One of the best and least utilized marketing tools would be to create high quality video content over the common static images you see everywhere. Studies have shown that buyers are 12X more likely to share video content over static content on their social media. If you really understand business, you will understand that word-of-mouth is still the best kind of marketing. This should be no surprise at all if you are a fan of the old MTV Cribs or Life Styles of the Rich and Famous. Don’t tell me you wouldn’t want to live in any of the houses featured on these shows. Your clients deserve the same experience for probably one of the biggest purchases they will ever make. To know what it feels like to live and own the home before they even buy.
You need to think carefully about how your network views your services.
Getting into real estate can make you a lot of money and also help you lose all your friends on social media. Too many agents who start off early in the real estate game make the big mistake of promoting their success to others as a way to gain clients. Although it’s important to establish yourself as someone who has had successful business with other clients in the past, it doesn’t really mean much to your next client. It’s not because they don’t believe you are a real estate Rockstar — how can they deny it when you keep blasting them constantly on social media about how great you are?
Instead of this approach, how about asking yourself, “Does my client see the value in my services or just my success?” Most folks who enter the market looking to buy or sell their home want to be educated about the process. Instead of letting them go about that process on their own, you can establish yourself as an expert by providing informative content about the process and the market they are researching. If you can save your clients weeks and even months of research by providing educational material all in one place, they will look to your advice and be ready to call you to pull the trigger. It’s the ultimate social proof and has been proven to work for many agents in the information age.
If you are like most agents, you want to start your career in real estate because you know you can make good money and it’s a relatively stable professional sales path. If you are good at talking with people, showing them the value of your services, and possess the determination to win no matter what, then you can make it in real estate. Just don’t do it alone, pick a great marketing team who can help expand your business and save you time. Letting you do what you do best. Helping clients buy and sell real estate.