The real estate business is indeed competitive. From Keller Williams Realty, American Tower Corporation to Re/Max, there is a myriad of real estate big shots in America and other parts of the world startups might have to compete with for some bucks.
Nonetheless, like Keller Williams Realty who started with just an office selling local residential properties, it’s not impossible to grow your real estate business from scratch into one with annual revenue in billions.
Thankfully, with today’s marketing tools and medium, you can compete favorably in the real estate market and attract profitable clients.
Linda Pipe, a South Florida real estate agent says “a real estate business owner with aim of generating revenues in million in decades to come has to consistently utilize both traditional and new marketing strategies to get ahead in the real estate market.”
That’s why we’ve combined various strategies from real estate marketing experts to help you succeed at this venture.
See them below:
1. Get a Website For Your Business
Research has shown that real estate businesses with online visibility have triple times the sales of businesses without one.
To achieve online visibility, create a reasonable website for your real estate service and ensure it has an excellent design by a professional website builder.
A great interface that facilitates a friendly user experience, excellent loading speed, quality pictures, moderates ads, and top-notch content are qualities of a perfect business website.
Also, the layout of your website should be easy for visitors to navigate. Ensure to have different categories that represent each service you offer from purchase, appraisal, lease, sales to rental.
Furthermore, as a real estate company or agency aiming for sales, endeavor to perform various SEO strategies for your website to enable it to rank atop. You can achieve this by picking a relevant domain name for your website, using researched keywords to create content for your website, and finally connecting your website to Google analytics. This analytics will help you make informed decisions about what strategies to adopt or dump for your business.
2. Be Social Media Active
“People are more internet-based, today. In other words, interested buyers would likely commence hunting for a property online than offline. Therefore, it’s advisable to reach your clients by going to where they are available; social media platforms,” says Williams Vegas, author of building Real Estate Business through Online Marketing.
Employ the service of a social media specialist or manager to create and operate different social media handles that can bring quality leads for your real estate business. Research which social media platform your target audience would most likely be active.
“For instance, there are lots of business savvy persons on LinkedIn which makes the platform a great place to publicize your properties to CEOs and business owners. Besides, you’d also meet realtors whom you can compete with on Linkedin,” says Williams.
Other platforms like Facebook, Twitter, and Instagram also have vast users making it a marketing space for real estate companies.
Besides, you can upload excellent photos and videos of your properties and use social media ads or sponsored posts to push them to your prospects. Facebook allows ads that are designed to reach your target audience, for instance, a miami real estate agency would easily reach a prospect who desires properties in Miami via their search.
Endeavor to optimize your bio, use relevant hashtags, like properties Miami, as these strategies will facilitate your visibility during an online search.
3. Organize an Email Marketing Campaign
Don’t believe the world is past the era of email. Despite the wide use of social media, email marketing is still an effective tool to convert leads to customers. It gives you a greater return on investment than social media.
Begin by carving your email list. Start with the customer’s contacts you already have and then import their data to the email marketing tool you’ve purchased.
Moreover, you can use your website to increase your email list by offering to provide valuable and irresistible content in form of PDF to your readers via email.
With the help of an email marketing service, you will have access to the tools you need to increase your email list.
4. Establish a Referral Policy
“Clients usually have more trust for real estate companies that are recommended to them by friends and family rather than companies they stumble upon online,” says Joe Louis a top-rated real estate agent in Miami.
Therefore, referral policies are a growth hack for emerging real estate businesses. Create referral policies that encourage your customers whether new or repeat to sell you to their associates.
“You can create a point-based referral strategy for your clients. This system involves rewarding advocates with points as their friends seal a contract with you. The benefit of this strategy is that it stimulates your clients to make more than one referral. This means you have greater chances of securing new leads,” says Joe.
Besides with good customer service, word-of-mouth marketing by your clients would be a cakewalk.
Additionally, utilize a referral program that involves irresistible packages for both the existing and new customers.
Founder and owner of JJ companies say, ” mastering the art of networking is a necessity in the world of real estate.”
You can strategically network by maintaining a strong relationship with real estate industry vendors, such as contractors and architects, with whom you don’t contend. The best way is to refer your clients to them so that they do the same for you.
Another effective means of networking to expand your client base is by partaking in seminars and industry events.
Such meetings will allow you to expand your geographical network as realtors and agents from other areas attend the same program. Moreover, these connections can help you learn new and proven business ideas and strategies.
“Don’t forget to maintain this relationship by always keeping in touch,” adds the founder of JJ.
6. Engage in Volunteering
The good thing about volunteering to promote your real estate business is that it doesn’t only broaden your network but impacts your community positively.
“Engage in monthly duties that involve investing your time in community groups and organizations. Ensure that these organizations hold real estate themes. It could be about environmental conservation or habitat for the world. You can also access various housing advocacy groups in your locale,” says Hyatt Simons, an adult toy expert.
Moreover, as a real estate agent, you may volunteer at an annual golf event. This enables you to meet several prospects from your target demographic.
7. Publish Articles on Local Media
Whether real estate local magazines, newspapers, and websites, or general publication outlets in your area, submitting your articles for publication consistently can help position you as a leader.
“Create articles about choosing the best property in your locality, or financing the same. Such contents are relevant to homeowners or prospects, thus, would help you gain your locality’s trust over time,” says Kim Pius.
Utilizing all of these local and online marketing strategies is sure to benefit you hugely especially if you formulate an idea that tailors to your firm. So consider each point carefully with your marketing team on board to brood over each. This technique will enable you to generate an idea that’s out of the box.