Realtors, stop marketing like it’s the 90's
Two weeks ago I decided to start counting the amount of Real Estate direct mail I was receiving.
15… In 10 days.
I should’ve started a year ago and tell you a more outrageous number. Receiving direct mail at home is the equivalent of receiving emails in your spam inbox. Regardless of the industry you’re in, if you send me direct mail at home, it will end in a trash can (or a recycle bin).
The food industry won the 1st place for most coupons and pamphlets in my recycle bin and not too far behind, real estate agents. I would say that in the previous century this method was considered innovative, while today, the best word to describe it is “obsolete”. Like every marketing tool out there, it gets overused and ends up being ruined.
Perhaps, romanticism about older methods, stubbornness, or a lack of knowledge and effort, lead people and businesses to use antiquated methods to engage with their audience. I’m not going to make a whole shpiel about the importance of creating content of value for your customers since its been a standard for many years now (at least it should be).
Speaking of value, it’s not a common word in real estate territory. Sometimes salesman and real estate agents forget that trust builds credibility, and trust comes from building authentic interactions. People don’t like to be hustled, or looked upon as numbers, they want to be seen as John, Suzy, Lucy or Mark.
The common denominator of unsuccessful marketing methods in real estate is the fact that realtors advertise themselves instead of advertising the houses or the lifestyle. Another good one for you, according to NAR (National Association of Realtors), a couple of years ago, 91% of all realtors, never contact the buyer or seller after the closing… Spending 500k doesn’t even earn you a call, a text message, or an email.
According to outbound engine, all these methods account for less than 2% conversion on leads:
- Search engines
- Newspaper ads
- Yellow Pages
- Mobile apps
- Direct mail (newsletters, fliers, postcards)
- Advertising specialty (calendars, magnets, etc.)
I’m just throwing ideas here, why not create your own YouTube channel (be the one stop shop for real estate questions and concerns) , a Facebook page where you could share daily or weekly content about new listings, valuable tips for potential buyers or sellers, spend more time on photography and video (to show the neighbourhood and its benefits), include a mortgage calculators on your website (which is common practice). And instead of sending direct mail at anyone and their grandmothers, use Facebook dark post to target specific people that might be interested by your content. Why not create a hub where your audience (buyers and sellers) can engage with each other and potentially do business together? Being their main source of information doesn’t entitle you to anything, but you are building brand equity that you can leverage.
Not only will this allow you to build a loyal following, but you will show that you actually care about people, wether you do business with them or not. We say that nothing feels like home, and its true. The last thing people want is deal with just another realtor who wants to make a buck or two during an emotional moment of their life.
Of course, you could go work for an agency and keep on self-promoting yourself with old antiquated methods. OR, lead others to the new age of real estate. All Social Media have lowered the barriers of entry for potential entrepreneurs and businesses. For minimal and cheaper costs, it is now possible to reach markets that were previously unreachable. Not only will the ROI of social will be higher than previous marketing methods, but you will work more efficiently, target the RIGHT consumer, and build authentic relationship with your audience.
One last time, credibility leads to trust, and trust is build by authenticity and care. Show people what you can do for them, not what they can do for you.
