Do you want to sell? Go online. This advice always works magic on anyone – at least when done right. Yes, strategies done right entail success in any endeavor. The digitalization of transactions has escalated into a need in today’s market, penetrating even the real estate industry. Hence, realtors turn to every
#1. Relying Too Much on Social Media
Social media is undeniably one of the most inexpensive yet effective marketing methods. However, when you neglect other marketing channels available within your means, then that’s already more of a peril than an advantage.
For starters, indeed one takes baby steps in their marketing endeavors, but that doesn’t mean one should stick to that. There are tons of ways to promote yourself as a real estate agent. According to Forbes, a realtor should begin his online promotion by building a professional website. Other inexpensive means that are just as effective are building a system of referrals and focusing on the brand.
As for social media ads, there’s no need to spend lots of time on them, as they can be scheduled what time you want them to go live. Thus, spending as much as 8 hours a day would be totally unnecessary.
#2. Being Un-Engaging
While too much activity is no good, so is being inactive. We’re all busy, but sparing a few hours, replying to comments and queries can convert to leads.
In last year’s study by the messaging company, Twilio, nine out of ten consumers prefer to use messaging to talk to businesses. Unfortunately, majority of the businesses surveyed don’t have the infrastructure set in the right place, as reported by TechCrunch.
It’s crucial that you get as many leads in a day or two, and given the preferred communication, it pays to entertain prospect clients whenever you can. If that’s completely not feasible, get someone to manage that for you.
#3. Depending Only On the Basics of Online Marketing
Not so many people have digital marketing backgrounds. The technicalities of online marketing require a comprehensive understanding of its complexities.
You might be thinking, what’s in it for me when I’m on real estate? Well, you want to boost your presence online, first and foremost. Hence, you must know where to start and how to be consistent with it. Ask for an expert’s advice, for their insights and knowledge on the field is valuable. If you can afford, hire a local
#4. Neglecting Analytics
In the recent RISMedia Real Estate CEO Exchange in New York, brokers discussed the importance of big data and how it’s changing the game in the real estate industry. In fact, HouseCanary co-founder and CEO, Jeremy Sicklick elaborates the aid predictive analytics gives to agents:
“When is the right time to sell my home?” Sicklick said. “We said, ‘Let’s look at the data and see what’s really happening here.’ We now have enough information to help them make those decisions. Should I improve my home, sell my home or refinance? Being able to quantify and visualize it is where big data is going. Being able to show people and arm people with the ‘why’ it’s occurring and explain it to someone who is trying to make a decision—and putting brokers and agents at the center of those decisions to help [buyers and sellers] see their options—that’s the opportunity.”
Analytics may sound intimidating that getting such information requires the help of a scientist or researcher and cost you more than you can afford. CTO and co-founder of firm Climb Real Estate, Mark Choey has words of encouragement for troubled brokers.
#5. Neglecting Tools
According to the article, Choey notes that there are plenty of tools out there that can help. “I wouldn’t recommend hiring a data scientist,” he said. “There are a lot of tools out there to help you get started.”
But what tools can do the trick? Choey has been using the Gmail extension Crystal. Aside from Crystal, Growth Maps and Hot Homes are also being utilized by many agents around the world. They may differ but they give just what you need for your business.
#6. Focusing too Much on the Product or Yourself
Real estate is client-centered, like any other businesses. What the agent aims for is to earn their trust and confidence to have their properties sold by you or to buy properties from you. It’s certainly possible for an agent to be successful in his online ads and presence but fail in terms of reputation.
As for Dummies, there are seven ways to foster relationships as a real estate agent. Among the golden rules in the list are over-communicating and over-servicing, being trustworthy and honest, walking your talk and thinking long-term. Furthermore, marketing experts encourage brokers to focus more on the community than the property. Pictures of happy and satisfied clients are way much better than any ads online.
#7. Creating Unappealing Blog Contents
Don’t limit your blog to articles. Being left out of the market is nightmarish enough, let alone antiquated contents.
Who says real estate agents can’t do vlogs? It can be a fancy marketing strategy in discussing how-tos or sharing your adventures and experiences as a real estate broker. That way, you give a more personal touch on the topic or issue at hand.
Infographics are also becoming a thing in the blogosphere. This is a more mobile-friendly type of blogging, as people enjoy reading colorful pictures with essential information at the same time. Real estate can be quite complex for some, but the process can be simplified with an infographic like the one below:
Infographic by MyFriendFernando.
#8. Hesitating to Stand Out From the Crowd
The one thing that MarketingArtFully’s Tara Jacobsen noticed about real estate agents’ websites is that they’re “trying desperately to race their competition to the bottom, copying each other and making the same mistakes over and over again.”
The danger here lies to the impressions of consumers that Realtors are “interchangeable.” It appears that they opt for the standard design, making it difficult to stand out from the rest of the crowd.
With that in mind, how to shine brighter, then? A functional design is indeed a must. Being searchable is just as crucial. Maps and amenities are becoming a website staple, and professional images clearly make a reputable real estate site. How about a brand?
A lot of marketing experts agree that branding can leave a lasting impression on clients and future customers. Highlight your principles as an agent, and make sure they’re in-line with the real estate ethics (of, course).
Get to know your competitors, study and research on their strategies and get some ideas on what can set you apart or make you rise above them. Take time to come up with the catchiest name, logo and slogan. It can be a pain in the butt at first, but you’ll never regret you poured out your heart on these.
