5 tips for real estate success in the current market
It has been a crazy start to 2020 and with a new financial year and the occurrences of the last one, we have compiled a list of tips for success in the contemporary real estate industry.
1. Increase your brand awareness
Brand awareness represents how well you and your brand are recognised by your target audience. Establishing brand awareness is an imperative part of promoting who you are as a real estate professional.
If this year has taught us anything, it is that the placement of your office and your window displays won’t be enough to achieve a successful level of brand awareness. In fact, 99% of millennials will start their property search online. This means, you need to ensure your online presence is as impressive as your office is. To simplify things we suggest focusing on:
- Your website – Websites are one of the most powerful branding tools. In real estate they are a location where people can view and request information about your services and listings. If your website is either hard to find or difficult to navigate you risk losing customers. It is important to find a website provider that takes steps in optimising your search engine results (SEO). While finding a provider with dedicated real estate experience also helps for industry know-how on layout and functionality.
- Your email marketing – 77% of people prefer to receive real estate advertisement via email. Being in contact with your database however, large or small is a great way to keep up communication. Select an email marketing platform that offers customisable solutions that represent you in the best way. We are talking more than an email that has copied and pasted listings on a template that vaguely represents your colours and logo. Find a provider that allows you to be flexible without compromising quality.
- Your social media – Social media is the epitome of good or bad online presence. When you are starting out in the industry your social media pages are an inexpensive way to showcase who you are as an agent. According to one of our clients social media is the perfect way to build an online community of locals in property mode. Setting up pages is free while starting campaigns dedicated to brand awareness can be done relatively inexpensively. Whether you take on the task yourself or outsource to a professional create a content posting schedule that encourages engagement and growth.
2. Communicate well and often
Another thing this year has taught us is communication is key. As nearly all face-to-face interactions were taken away from us we looked to technology to keep in contact with our clients and colleagues alike. There are 2 types of communication that are vital to your success.
- Mass communication – Gone are the days where it was acceptable to send non-customised messages to the masses and expect to get considerable ROI. However, there are simple ways to communicate with your database and to ensure the content is targeted and relevant to each audience. Take email marketing for example. Choose an e-marketing system that allows you to send targeted content simply and regularly.
- Personal communication – In real estate keeping your vendors up to date is imperative. Whether it is the turn out of an open home, general buyer interest or just a weekly wrap up on a campaign, keeping your vendor up to date is vital. According to realestate.com proactive communication from an agent is the most desired quality for a vendor.
3. Express your local expertise
Real estate is one of the few industries that geography still matters. In a guide published on realestate.com about choosing the best agent, the second most important point is local knowledge. Commonly, future sellers will go online and search things like “Best real estate agent in my suburb” that’s if they haven’t already gained a referral from a family member or friend. Demonstrate your local knowledge across all of your online presence. Here are 3 tips to get you started.
- Have suburb profiles readily available for people to request or download from your website and social media
- Share client case studies with a vendor testimonial on social media and your property newsletters
- Be a local. Share pictures of yourself when you are supporting local businesses. This can be easily done when you grab your morning coffee.
Another guide entitled ‘8 qualities of a good agent’ states that local knowledge is imperative to being successful in selling local lifestyle. By being an expert in your local market you are telling future sellers you can sell not only their property but the lifestyle that comes with it which is attractive to buyers.
4. Maintain a strong focus on lead generation
Lead generation is the process of attracting prospects and converting them to buyers and sellers. Traditionally in real estate cold calling and door knocking were popular ways to gain contacts who may buy or sell in the future. Today, technology has taken over and generating qualified leads can be done more efficiently.
However, there are some things you need to ensure before technology will generate leads for you. Here are 2 simple tips:
- Ensure your website, social media and email templates are set up to track interaction and capture contact information. Have landing pages and forms for people to enquire about listings or your services on your website and your email template. While on Facebook you can utilise messenger and the services tab so your audience can let you know how you can help them.
- Take down names, numbers and email addresses for open home attendees. This is much easier when you have a CRM or app that people can simply import their details in while on site.
5. Utilise technologies and services that save you time
Flash back to 2015 (already 5 years ago!) one of the questions posed at that year’s AREC was ‘what would the Real Estate industry look like in 2020’. The common answers included things like more technology, less time and more outsourcing. Those comments have proven true with many real estate professionals looking to outsource tasks in administration to save time and in marketing to better results.
As digital marketing specialists we advise to do your research. Find a marketing platform or service that understands your needs and can work with the budget you have. A good marketing solution will achieve goals, make you look great and increase business opportunities.
At iRealty we are dedicated to our clients success. Whether it is establishing brand awareness or building and communicating with your database we want to simplify your digital marketing needs. As a valued Validum graduate, you have access to iRealty’s exclusive offer. Click here and register your interest.