This should go without saying, but proper marketing is one of the most critical aspects of any successful business. Understanding how to properly identify your target audience, develop a strategy to reach them and turn them into paying customers should always be a focal point for a developing entrepreneur. In the real estate industry, this is more true than anywhere else.
Real estate agents, especially independent agents, need to be able to get their names out there and come in contact with those looking to buy or sell a home. And while marketing in this industry shares many of the same principles and traits as in most others, real estate marketing comes with many of its own subtleties and quirks that need to be recognized and appreciated by those who would successfully practice it.
This guide is designed to go over a few of those subtleties, as well as provide some quick tips and a basic tutorial for those looking to get started in the real estate industry or get a leg up on the competition.
Identify your target audience
The importance of this step cannot be overstated. While any businessperson obviously wants to reach as many people as possible with his or her marketing efforts, it is critical to identify who is most likely to buy what you’re selling.
If you specialize in small homes, maybe focus on first-time homebuyers. Those who deal in luxurious homes or condos would obviously want to market towards high-income customers. You do not necessarily need to limit your efforts to one specific demographic (narrowing in too much can cause you to miss out on new opportunities), but you do need to identify your target audience and focus your marketing on reaching them.
Develop a targeted marketing strategy
Before you put any money or time into real estate marketing, you need to develop a targeted strategy with some realistic goals. In addition to knowing who you want to reach, you also need to know what you hope to achieve from each marketing tactic. Decide how much you want to spend in each area and understand what a realistic return on investment will look like.
Build a great website
As a real estate agent, your website must accurately reflect who you are, where you specialize and what you can accomplish for potential clients. Digitally speaking, it is your handshake, your smile, and all that goes into a first impression, and we live in a digital world.
Choose a domain name that is simple, easy to spell and easy to identify for your target audience. For example, isoldmyhouse.com tells anyone what they are about, just in the name. Also, you will want to continuously update your website with relevant content (which will help it move up in search engines) and up-to-date information about your business.
Be more social
Social media was one of the biggest breakthroughs in the history of marketing. It allows anyone to have a platform and get their message out to a nearly unlimited number of people. In terms of real estate marketing, it can be your best, most cost-effective vehicle for reaching new clients.
Develop business profiles on all the major social platforms and post frequently – with information that would be helpful or interesting to potential customers – on both your professional and personal accounts. Remember always to include a link to your website in any posting.
Be ready for changes
The world moves fast, and things change in a hurry. So never get too attached to any one marketing strategy or platform. Diversify your marketing efforts and be flexible. If you see an opportunity somewhere, be ready to jump on it. If you identify one marketing strategy that is no longer performing well, be ready to let it go.
Real estate marketing requires a lot of time and effort to be successful. But if you are able to identify the right target audience, develop a specific strategy, focus on digital outreach and remain flexible, you will be in great shape in any industry.
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