Branding is a powerful tool for a real estate agent. If used correctly, branding can help agents realize unlimited income while spending less money on marketing and advertising. Yes, that’s right - less money on marketing and advertising for greater return. Branding works because people buy and sell on emotion. Therefore, if they like and trust you they will use your services, regardless of the market conditions.

Take the statistics compiled by the National Association of REALTORS on what sells houses. According to NAR's most recent survey of buyers and sellers, 40 percent of buyers-the largest source of buyers- came as a result of name recognition or salesperson contact. Compare that number with the one percent of buyers who bought at an open house, 3 percent who bought based on an advertisement, and even the 20 percent who bought because they saw a For Sale sign, and it is clear, becoming the agent in the minds of the public is crucial to long term success and prosperity as an agent.

Therefore, branding not only means obtaining more listings, but translates into sales as well. You cannot pick a slogan, however, run out tomorrow and consider yourself branded. Any article or book written about branding-both for individuals as well as large corporations- states that you must first conduct some form of self-evaluation before you can determine your true brand.

Your brand is essentially your promise to your customers. It is not about marketing, nor is about the homes you are listing. It is a slow process, relying on consistent messages designed to convey to the public who you are rather than what you are selling. It is about your commitment to your clients. What benefit will they receive if they hire you? Is the benefit you offer important to your selected target? Are your competitors already providing the same benefits? What benefit do you truly want to provide your customers?

In order to create a strong personal brand you must first truly understand what you are able and willing to offer your customers. What happens when someone breaks a promise? You don’t trust them. This is why it is important to evaluate where you have been and where you want your business to be. Unlike many other professionals, as an agent you are promoting you all day every day to everyone you meet. You cannot hide behind a brand that is not authentic and true to who you really are.

For example, imagine you live in an area where there is a lot of new construction. You, however, have never sold or assisted a buyer in a new construction deal. What would happen if you branded yourself as the leader in new construction sales? What would the clients you attract based on that brand expect from you? They would expect someone who knows about or who at least has been involved in one transaction involving new construction! What would their reaction be when they realize you know nothing about new construction? They would feel angry and mislead because you broke your “promise” to them. This is not to say that you cannot evaluate your business and decide you want to commit your business to a new area…but you at least need to educate yourself about that area before you brand yourself as the leader!

Begin by assessing where your business has been. Evaluate how you obtained customers when you were a “rookie.” Has that method changed now that you have been in business for some time? Who was your customer base when you first started? How has that changed? Where would you like your customer base to come from in the future? Know that you cannot successfully brand yourself to all people.

Use these questions to narrow your target market then identify what benefit or promise you can give to your target. The most powerful brand you can develop is one that provides a benefit or promise to your customers that your competition is incapable or unwilling to provide.

A thorough self-evaluation does not require six hours. Wouldn’t you give up an hour now if it meant no more cold calls, spending less money on advertising but getting more in return? Of course you would. Begin to build your brand with a self-evaluation. The time you take now could save you countless time and money in the future!

Published: June 16, 2004

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