When talking about the real estate market and its marketing, you can count on one thing and one thing only – it will have constant ups and downs. This uncertainty is due to the direct correlation to other vital factors such as economic conditions, interest rates, and job growth.
Nonetheless, numerous strategies can be applied to promote business growth, propelling it into real estate stardom despite the current market conditions. After all, working around obstacles and finding your way to the top of the trending lists is what makes the everchanging real estate market so exciting.
It’s all about how fast you adapt your game plan, and this is precisely why Ben Givon is here to examine some of the steps that might help along the way. This article covers seven basic marketing steps to expand your real estate business further, so listen carefully and take notes.
1. Find Your Target Market
In order to become truly successful in real estate, the alpha, and omega of your efforts to make it should be targeting your market. Becoming an expert on a niche audience allows you to get a clear picture of what’s driving that market at that moment. It can also reveal risks and the future direction of this particular targeted market. Based on gathered knowledge, it’s much easier to adapt and deliver a bulletproof marketing strategy.
2. Create a Marketing Budget
Creating a well-crafted, all-inclusive marketing budget and sticking to it is our second major factor. Marketing dollars can be spent on various avenues, including email marketing, a website, social media, and even postal marketing.
This is where we align our first point to the second. All of your spendings should be based on your target market and audience. Getting your audience and their characteristics down will determine your later marketing approach.
3. Work On Your Website and Use Social Media
Whatever your target market is, you need to establish an online presence in this day and age. Your business should have a professional website and detailed social media accounts on Facebook, LinkedIn, and Twitter. Potential large numbered outreach is a promise social media can keep easily, with relatively small expenses.
Ben Givon Pro tip: advertising your business on search engines (Google, Bing, etc.) might be a good investment, too.
4. Quick Responses
The fast-paced world we live in requires quick customer responses. If you cannot resolve customer queries in a timely manner, the risk of losing new business is extremely high. It might help to have access to your email and other communication channels on your phone, so you can resolve customer requests as soon as they pop up. Being diligent and timely when responding to your audience adds to your businesses’ reputation and credibility.
5. Trust in Referrals
The real estate agents that see the most success in this field are the ones that get several deals based on previous client referrals. A new buyer is more likely to trust a previous, satisfied customer. Selecting the right real estate agent is more likely to happen based on word-of-mouth from friends, family members, or college. Use that to your advantage.
Ben Givon Pro tip: be sure to encourage referrals by giving a referral bonus to those who refer new customers.
6. Introduce a Real Estate Newsletter
Nothing says “I’m serious about my long-term real estate success” like publishing a monthly or even a weekly newsletter. The newsletter should be informative, with the data of interest for your audience like mortgage rates, changes in real estate law, creating a real estate investment portfolio, etc.
This is a perfect way to nourish your current customer base and attract new ones with helpful newsletter insights. It also serves as proof of your commitment to the real estate business, along with your expertise.
7. Brand Awareness
Last but not least, take it from the big brand businesses – your real estate business should be perceived as a brand of its own, as well. The brand can be based around your business, or it could be under your name. After determining how you’ll build your brand, every sale strategy should incorporate your brand concept from that point on.
We hope that these seven general guidelines helped in your quest to reach real estate fame. Marketing is a powerful tool, and it should be utilized correctly for every industry, real estate included. Remember, success takes time and effort. By following these simple Ben Givon guidelines, you’ll be one step closer to reaching your real estate business goals. For more information, follow our Real Estate Affiliates blog.