Revealing the Secrets of Successful Real Estate Marketing
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Any real estate agent would love to rake-in some major moolah by doing what he does best – sell property. While this may sound ideal and unrealistic, it need not be like that.
Being in the business of real estate is like taking a gamble. While you may hit the nail in the head with certain deals, you might just lose the plot with others.
Not everyone is a gifted marketer, which is why it is essential to learn about what goes into marketing real estate successfully and keeping the momentum going.
If you’re already into real estate or considering making a career in it, here are few secrets that will help you go a long way in understanding and excelling in this field.
> Earmark Time to Market Your Business
Marketing is not only an activity that should be done, it also a necessity in order to make a grand success of your real estate business. This may require you to make use of new strategies and ideas, which are sure to take time if you want to execute them well. To manage all these concerns, it is crucial that you to allocate some of your time every week to market your business. After all, charity begins at home!
> Tackle Things One at a Time
When starting off, think small, conquer that and then strategize about moving further. It makes sense to use your marketing skills for your own benefit as well and work on solidifying your business at the local level. As and when the locals get drawn to your business territory, you can expect to start gaining traction from there and subsequently move forward to other territories.
Planning your marketing activities is easier said than done. You may think it is just about laying down strategies, but you need to think about their execution as well. Sometimes, plans are unreasonable and, therefore, difficult to implement. To prevent that from happening, you need to keep them realistic and list down your objectives and the time-frame within which you plan to achieve them.
Do not forget to take into consideration your competitor’s plan. Stick to your strategy and work towards planning your tasks. That should hold you in good stead.
Þ Network to Build Reliable Relationships
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Networking is crucial for any business to survive the long haul. Work on your networking skills and decide that you will make a certain number of new business relationships within your industry every year.
This could entail networking with banking professionals, professional stagers, property lawyers and so on. This will help you increase your reach and get more business.
Building reliable relationships by surrounding yourself with people associated to your field will enhance your chances of becoming the preferred broker/agent to work with.
Þ Master the Art of Time Management
Being able to manage your time well and reallocating it as and when necessary to tasks that need attention is extremely essential to keep your business running smoothly and growing it. You could assign a certain time of the day to completing the tasks that are key to growing your business, such as prospecting, making/receiving calls, sending out/replying to emails, building high-quality content for your social media page, and so on.
> Nurture Relationships
When you spend so much time meeting people and forging relationships with them, how do you make sure you stay in touch with them even after the sale?
Whether they are your current clients, old ones, or the people in your business network, make sure you employ unique ways of being in contact even post-closing such as subscribing them for a monthly city-specific real estate publication, so they will think of you whenever it is delivered.
You could also help them turn their newly-bought house into a comfortable home with a gift certificate to local stores that sell home-improvement products.
By nurturing relationships you will find yourself in a position to use your current clients as a lead to new ones. The impact satisfied clients have on your business could make (or break) your business.
Asking for referrals after completing the transaction is a vital part of achieving success in the real estate business. Even if half your clients refer their friends to you, it will enable you to touch base with them and expand your market base to a great extent.
Do not forget to thank those who provide you with referrals.
Þ Measure Your Success
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Make it a point to audit your business from time to time to not only measure your success, but also to learn about the metrics that result in it. Do evaluate and compare your business results on a Year-on-Year basis.
You could also consider as to how much you’re making per transaction, where your clients are coming from, how much you need to make next year, which tasks, projects, skills, upgrades, and credentials can improve in the next month that will set you up for a successful year.
Þ Set Clear Goals
Put the data you gathered from the audit process to good use and set measureable year-end goals with a view to making them greater than those in the previous year. This is the hallmark of successful business plans.
Additionally, make sure you have in place, a robust marketing plan that focuses on helping you achieve your goals. This may entail increasing in your advertising and branding budget, or hiring an assistant to help you implement your marketing tactics so you can focus on selling.
Effective real estate brokers carefully chart where their business comes from to ensure they reach everyone in that market.
Þ Stay Abreast of the Trends
Educate yourself about the current trends by reading extensively, and attending seminars, webinars and conferences to stay updated about the goings-on in the industry. Once you become familiar with the industry and the local trends, equip yourself with the tools, training and techniques required to ace those trends.
In order to make it in the real estate sector, it is important that you market yourself well and stay on tops of things in terms of industry happenings and trends. Apart from that, you also need to learn to read between the lines to understand your clients and business associates well because they may not spell out everything for you. While a lot of them aren’t exactly secrets, the above tips will prove to be helpful in enabling