In today’s market, you, like many other Realtors®, may find yourself at a loss when it comes to ways to drum up new business. At the moment, inventory is scarce, buyers are priced out, and interest rates are high. Overall, business volume is down which means your bank account probably is too. That being said, it’s more important than ever to reposition yourself for the inevitable rebound that is likely to happen in 2024. Since marketing often takes months before you see results, there is no better time than now to recommit to a solid, consistent marketing plan. Following are handy-dandy marketing reminders for Realtors® that will help get you on the right track:
HAVE A WEBSITE
And not just your run of the mill brokerage website. You need a website customized to you. Your website is the container for every bit of marketing you do. All your social media marketing, blogging, email marketing and listings should link back to your site. You should have branding in place, like a logo and an About page. Your branding should frame you as an expert in your particular field or niche. It should also include IDX (Internet Data Exchange) which links your MLS system to your website. Even though most buyers use platforms like Redfin, Zillow, and Realtor.com to begin their initial search, they still turn to agents once they want to see something. Having an MLS search as part of your website will help draw your clients to your website, even if they began on a different platform. And it lends credibility to your business. There are a number of ancillary businesses which offer IDX services. An internet search will show you a number of these with varying services and price points. The challenge for you will be deciding which one to go with. All in all, expect to spend several thousand dollars on your website. Yes, this is expensive, but you need only do it once, and it is money well spent.
GET ONBOARD WITH AI
It’s a good idea to add a chat box to your website. This will help answer basic questions. More importantly, it will alert you to new potential clients. It’s also a good idea to use AI for help with lead generation. Click here to learn how to do this.
BLOG
Yes, blog. Blogging is just a confusing word for adding content to your website. Why do this? Because it ups your SEO (Search Engine Optimization) which means that potential sellers and buyers will find you more quickly online. Blogging needs to be done at least twice a month to produce results. You can blog about community events, the real estate market, your latest listing, and so forth. If you don’t have time to do this, hire a content creator. Your blogs should be useful and have just enough personality not to feel like you’re reading someone’s cut and paste. Bonus: you can use your blog as your monthly newsletter! Yay!
EMAIL MARKETING AND YOUR NEWSLETTER
You should be collecting email addresses from former clients, clients you are currently working with, your sphere of influence, and anyone else who will give you an email address. Make sure to ask permission or at least have an “unsubscribe” option in your emails. MailChimp and ContantContact are two reputable, easy-to-use platforms that aren’t too expensive. As said earlier, that blog you do can be easily converted into a helpful, useful, interesting email newsletter. A judicious use of email marketing keeps you top-of-mind to your clients and they are more likely to reach out to you when they need real estate help. Make sure you include your listings and solds. And it’s not a bad idea to talk about properties your buyers are looking for. This can be a great way to get new listings.
SOCIAL MEDIA
Regardless of your feelings about social media, it’s a necessary component of real estate marketing. You will want to invest your energy into at least two platforms, and post at least once a week. For details on generating leads using social media, click here. And, you may want to hop onboard with Threads in order to get your user name solidified in case you decide you want to use this Twitter substitute in the future.
UPDATE YOUR BUSINESS PAGES
Make sure the following business pages are up-to-date and sparkling: Google Business Profile, Facebook Business Page, LinkedIn, Instagram. Google Business Profile is like the Yellow Pages of the internet, so start there.
PURCHASE LEADS
If you have the budget, consider purchasing your leads from Zillow and/or Realtor.com. This can get you moving more quickly, especially if you’re a new agent. And NextDoor is another potential source of new leads in specific neighborhoods that you should check out. It’s important that you have an established website, social media presence, and way to collect contacts before you begin purchasing leads. This way you will come out out of the starting gate looking polished and professional.
START A PODCAST
Admittedly, this is probably best for high-energy extroverts. If that’s you, then consider getting a YouTube channel to deliver your market insights via live streaming. People love podcasts because they provide a fairly painless, passive way to learn new information. Having a podcast is an effective way to brand yourself as the expert in your field or area.
PARTICIPATE IN LOCAL PUBLICATIONS
Choose one or two local publications to house your print ads, which reinforces your community ties. Then see if you can submit an opinion piece on a regular basis which talks about the local real estate market. This further reinforces your position as the real estate expert in your community.
TEAM UP WITH OTHER AGENTS
With so much of our population moving around the country, developing a referral system in your target states is an opportunity you don’t want to bypass. Figure out what the most popular states folks from your area are moving to, and then develop relationships with agents in those areas to refer to. Referral income can add much needed bread-and-butter income to your bottom line.
TARGET UNCONVENTIONAL MARKETS
Examples are: folks looking to downsize (Babyboomers); folks living in rental areas that want to purchase their first home; family groups wanting a “compound”; For Sale By Owner properties; transplants from other areas; remote workers and digital nomads that may be looking to upsize since they work from home; and people getting divorced. The trick to accessing unconventional markets depends on developing connections with auxiliary services that cater to those groups. For example, get to know businesses that specialize in packing, moving or storage for people looking to downsize. Or highlight your expertise to law firms that specialize in estate planning, divorce and so forth so that they feel comfortable referring you.
PROVIDE STELLAR VIRTUAL TOURS
As our national population continues to move around the country, the ability to provide thorough and high-quality virtual tours is a must. Not everyone can immediately fly out to see a property. They will, instead, be relying on you to honestly and thoroughly vet the property on their behalf. This means you must have the ability to listen carefully and fully comprehend their needs as well as develop the technical skills to send videos and provide video conferencing. And all at a moment’s notice.
INCLUDE A HOME WARRANTY
Statistics show that providing home warranties – to either the buyer, the seller, or both – shortens a listing’s time on the market and increases the final sales price. A home warranty provides peace of mind to buyers who may worry about maintaining a home. For sellers, a home warranty offers reassurance that repairs to home systems won’t be a problem while the home is listed, and most seller home warranties will also convey to buyers. This can be the final nudge that buyers need when they decide to write an offer. Finally, some seller home warranties also provide additional legal protection to both you and to your sellers. Home warranties can be a powerful tool when working with both buyers and sellers.
FINALLY…..
The above ideas should help get you motivated to start, continue or renew your marketing efforts. The most important thing about any marketing program is to start one and then to remain consistent. Even if you choose to only implement a few ideas, staying with the program will deliver results if you give it time.