The real estate business is more competitive now than ever before. In today’s dynamic landscape, traditional approaches such as open houses, cold calling, and knocking on doors can still be effective, but there are many more innovative strategies that tech-savvy, consumer-focused professionals can use to gain an advantage over their competitors.
While the fundamental concepts remain the same—communication, outreach, and networking—finding innovative ways to achieve these goals is vital to the success of any real estate professional.
Online Networking
Like all of today’s businesses, online networking is critical to the success of a real estate business. A well-designed website and the use of social media platforms such as Facebook, Twitter, Google+ and LinkedIn gives a realtor visibility in a crowded market. In addition to these channels, consider Instagram. With 700 million daily users and growing, Instagram is both the fastest growing and most engaged marketing channel today. According to Forrester, growth in Instagram users is ten times higher than Facebook and eighty-four times higher than Twitter.
Zero in on what you excel in and what is relevant for your customers. Consider that about 60% of millennials are active users of Instagram. Is your clientele mostly older retired baby-boomers? The use of social media is significantly increasing among older adults. Recent studies show that mobile internet users over the age of 55 are leading the growth in social network usage. However, they represent only 5% of Instagram users.
Because digital presence is always evolving, realtors can retain and increase their visibility and build followers by joining online networking groups, contributing to discussions, and sharing information. Blogs and newsletters that provide potential clients with real-time information such as current events and ongoing developments in the real estate field show buyers and sellers that the realtor is dynamic, engaged, and aware of the evolving nuances of the real estate market.
Search Engine Optimization
A website is essential but, depending on how many competitors a realtor has in a given geographical area, Search Engine Optimization is vital. Studies have shown that most potential clients searching for information or a business only look at the top ten results. Very few will go past page one, so a realtor’s website must be ranked on page one for a variety of appropriate keywords.
One way to optimize your web presence is by posting a weekly blog that contains a variety of keywords targeted to your market. Informative articles regularly published will also help with SEO. The static pages of the site (those that rarely change such as the Home page, the About page, the Terms, and Conditions page, etc.) should also contain compelling content that answers the searcher’s query. Careful choice of the site’s title, URL, and the description will help to draw high click-through-rates in the rankings.
Branding
Since more buyers and sellers are conducting their research online before reaching out to an agent, realtors with a strong brand and online presence will gain an edge over their competitors. A well-branded website and effective use of social media gives a realtor the ability to hyper-target a demographic and help them stand out from others. Such websites can showcase any work, case studies, or testimonials and use powerful digital tools such as first-rate photography, online tours and videos. At the same time, don’t neglect to include compelling descriptions about listings.
Consistency in one’s brand is critical. Using the same color scheme, logo, sound signature, slogan, and so on in all communications, whether in person, online, or by direct mail, is key.
A brand should be distinctive and professionally designed. Think of Target with its red color scheme and target logo; Walmart with its blue scheme; Remax with its hot air balloon; and Century 21 with the number 21 embedded in the letter “C”.
Educational Content
A realtor’s website that provides more than just a listing of houses but also content that helps educate consumers about the housing market will not only build trust with the realtor but also provide the realtor with better educated buyers and sellers. Such information pertaining to buyers can include, but is not limited to, the following:
- What’s my housing budget?
- How much should I save for a down payment?
- How much are closing costs?
- What’s included when I buy?
- What are similar homes selling for?
Information pertaining to sellers can include, but is not limited to, the following:
- Is the home priced correctly?
- Is the buyer qualified?
- Have the best terms been negotiated?
- What can I expect during the home inspection?
Furnishing information in all segments of the home selling or home buying process also helps the realtor stand out as an “authority,” and even an “influencer,” which will pay dividends in the future.
Providing tools such as a mortgage calculator and neighborhood demographics is expected these days; practically every realtor does it, and consumers have come to expect to see these resources.
The most beneficial aspect of this information strategy is that it’s evergreen—articles and information will be far-reaching and long-lasting, remaining highly ranked in search engines for many years with minimal effort.
Community Networking
In today’s world, we typically think of social networking as an online presence. It is equally as important to connect with people offline at social, professional, and work-related social events.
Through volunteer work and support to local organizations such as community theatre, school sports, etc. a realtor becomes known throughout his or her city, building goodwill as well as name recognition.
Realtors also benefit by joining organizations such as the National Association of Realtors, the Women’s Council of Realtors and other groups that help them connect with other professionals to keep abreast of new techniques.
