As a real estate sales professional, each season brings new and different challenges, and this year, it has brought the existential threat of the coronavirus. While the real estate industry is already highly competitive, we must learn to adjust to the changing environment and social-distancing constraints brought on by this pandemic. Staying top-of-mind will be vital to your prosperity and continued growth. Below are several tips that can help you win in a challenging and competitive market, now and in the future.
Local marketing is a great way to establish name recognition within a specific community or neighborhood. The concept of hyper-local marketing revolves around targeting specific individuals often based on trigger events, such as new or expired listings or open houses, and developing multiple marketing touchpoints around that event. An example would be to host a neighborhood-only open house a day or even an hour prior to a general open house. Targeting the neighbors creates a unique marketing experience and will often lead to additional appointments, with requests for CMAs on their own properties. In a competitive market, every listing creates the opportunity to create another listing.
Social media has become a vital part of most people’s daily lives, and it should be a vital part of your marketing strategy as well. Your goal should be to create impactful ads that demonstrate not only your knowledge of the real estate market, but one that is relevant to your specific community. Post about charity events, school-related activities, or highlight a new or popular local restaurant. Offer helpful guidance like spring clean-up tips, remodeling ideas and staging advice. Post pictures of you with your clients at their closing, and inject humor to capture your personality where appropriate. Remember to update your profile often and respond to comments, as consistent interaction will keep your audience engaged.
Utilize Your Network
You worked hard to build it, so don’t forget to use it. Make a habit of reaching out to your existing clients at least once per quarter to maximize your network and use it to its fullest potential. When you provide an extraordinary experience to your clients, they can become your greatest advocates and personal marketing message. Never be shy about asking for referrals and recommendations, especially if you’re expanding your business into a new market, as this can often be the catalyst that opens new doors and drives your business to new heights. Networking with other local professionals your clients can benefit from (handymen, painters, plumbers and landscapers) creates quality touch points with your sphere and will help you engage with them well past the transaction. That way, when a past client is ready to sell, repeat business is almost guaranteed.
Whether you’re a broker or an agent, Cole Information’s technology platform can provide you with the data you need to grow your sphere of influence and create new, high-quality leads through proven marketing and engagement techniques. Competitive markets often arise in peak selling seasons due to low inventory, so remember, when trying to create a point of differentiation between you and your peers, it often comes down to unique marketing, past clients and utilizing your network.
Travis J. Bailey is vice president of enterprise sales at Cole Information. For more information, contact Bailey at 973-896-6134, firstname.lastname@example.org or visit info.coleinformation.com/topofmind.