Real estate has, is, and always will be a thriving industry – in both slow and vibrant economic times. As the old cliché goes, “They aren’t making any more of it!” But if you’re a broker with your own real estate firm, trying to compete in a sizzling market like the one we’ve been in for the last seven or eight years is distinctly challenging. You need a strategy to set your firm apart and timely marketing may be the answer.
The State of Competition in the Real Estate Industry
People follow the money. And when the real estate industry gets hot, more people decide that they want to launch careers – whether full-time or part-time – as real estate agents. Just check out this graph of the number of U.S. National Association of Realtors members from 2008 to 2018. Notice how the numbers rise and fall along with the health of the real estate market. There were 1.2 million Realtors in 2008 (prior to the crash), just 1 million in 2012, and then 1.36 million in 2018. In fact, if you take all licensed real estate agents – Realtors or otherwise – there are now more than 2 million active agents in the United States.
The trouble is that most of these agents lack the skills, expertise, and experience needed to guide clients through the home buying or selling processes. They simply see it as a way to make a few extra bucks when times are good – but the average consumer doesn’t know this. As a serious broker with a real estate firm compromised of full-time, skilled real estate agents, it’s frustratingly difficult to cut through the noise and differentiate your firm from the low-producing, part-time agents that fill up your Facebook newsfeed.
There are a variety of ways to differentiate, but good marketing is the most effective and sustainable strategy. Most real estate agents and firms don’t take the time to invest in their brand. The more you do, the more you win.
3 Ways Strategic Marketing Can Help Your Firm Cut Through the Noise
A real estate firm doesn’t always feel like a traditional business in the sense that you’re selling a physical product or a streamlined service. It’s a bit different in that you’re simultaneously selling a service and an experience – both of which change on a client-by-client basis. Plus, your clients typically only work with you for a few weeks at a time. And if they do return, it can be as much as three, five, or 10 years later. Having said that, it’s very much a business in the sense that you’re building a brand that people can rely on and trust in. Here are some specific ways marketing can help you set your real estate firm apart:
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Give Away Free Advice
In a competitive marketplace, it’s tempting to live with a scarcity mindset. You figure that your only way to succeed is to protect your trade secrets and knowledge so that nobody else can match up. But if you talk to some of the world’s best business minds – across all industries – you’ll find that giving away free advice is actually the best approach.
When you give away your best advice for free, you add value to your audience and establish authority. You build trust in an environment where people are fearful of being taken advantage of. So whether it’s a dynamic approach to pricing, listing optimization tactics, or negotiation tactics, the more specific and valuable you can make your online content, the better brand you’ll build. Sure, you might empower the competition in some ways or convince a few prospective clients that they no longer need to hire you, but you’ll ultimately win over clients who want to work with someone who knows what they’re doing.
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Invest in SEO and Link Building
Visibility is everything online – particularly in the real estate industry where 44 percent of buyers begin their search for a home online, and 95 percent use the internet at some point in the process. In order to stand out, you must take search engine optimization (SEO) seriously. In particular, you need a real estate link building strategy that helps you enhance visibility, improve search rankings, drive traffic, and cultivate trust and authority.
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Establish One Differentiating Factor
When people think about your real estate firm, what’s the first thing that comes to mind? You need at least one differentiating factor that people recognize when they see your firm’s name. Examples include:
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You have the only real estate firm in town using a flat-fee structure.
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You have superior listing photos and include home staging in your costs.
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All of your agents work full-time for the firm.
Once you’ve zeroed in on your differentiating factor, illuminate it in your marketing strategy; especially if you're using ClickFunnels for real estate. From the content you publish to the social media interactions you have with prospective clients, this defining factor should be front and center.
Ready, Set, Differentiate!
It’s time to stop stewing over the competition and start embracing what it is that makes your firm exceptional. By translating this into a compelling marketing strategy, you can separate your brand from the pack and reach more clients in your market. What steps will you take this week?
