Since 2013, the National Association of REALTORS® has seen a consistent increase in agent membership year-over-year. Despite this growth, not all of these agents are able to stay in for the long haul. As Buffini & Company Founder and Chairman Brian Buffini says, real estate is an industry with no ceiling—and no floor. Without guidance, it’s easy for new agents to become discouraged within the first few years, causing them to quit the business right before they bloom. This has many folks believing that the field is like a revolving door.
However, this conclusion leaves out one important detail: There are actually thousands of agents who have been in the business for decades.
At Buffini & Company, we’ve celebrated Members who have been with us for up to 20 years, which is almost as long as we’ve been in real estate coaching. These agents are living proof that a real estate professional can last in this industry with the proper structures in place.
There’s one vital piece of this structure I like to focus on: an exceptional marketing plan. To achieve longevity and success in your real estate career, you’ll need to develop a strategy that establishes you as the go-to real estate pro your relationships want to include on their buying or selling journey. Here are four essential qualities to keep in mind as you craft your marketing plan:
Defined Target Audience
In real estate, your audience comprises more than just potential buyers and sellers. You’re marketing your service and skills to all of the productive relationships in your database. Get familiar with current buyer and seller profiles so you can address their needs in your marketing. For the folks who aren’t looking to buy or sell right now, communicate your knowledge of the real estate market and become their resource for any questions. When they’re ready for a move, you’ll be the first they call.
Today’s consumers are educated, sophisticated and immune to the old-fashioned sales pitch. Shy away from producing “salesy” content and, instead, focus on high-quality pieces that add value to the consumer. These items of value should be informative, fun and practical. Using a monthly marketing strategy to send your relationships something they can use and appreciate will position you as a competent and skilled agent, making them want to do business with you.
Optimal Distribution Plan
Once you’ve developed your content, make sure you’re finding ways to share it with your contacts. Create a distribution plan that includes all of the ways in which you’ll reach your audience. Mail out items of value to your relationships. Join networking groups to meet new relationships with whom you may share content. Start a blog or social media page where you post valuable information about your market. Don’t keep your real estate career a secret. If you’re producing exceptional content, the public will want to know about it.
Analysis of Results
After doing all of this work, you’ll need to create reporting systems to check your results. Actively track your marketing activities in a real estate customer relationship management (CRM) system, then ask yourself a few questions: How many referrals did you receive from your last mailing? Did the Facebook post with your latest blog link get more comments than the one with your latest listing? Am I focusing on the right contacts? Collect this data, then analyze it to see what adjustments you can make to improve.
A strong marketing strategy sets you apart in a crowded industry and helps you outlast your competition. Start developing yours today. Check out Buffini & Company’s Referral Maker® PRO monthly marketing kit for some inspiration on your journey.