Real estate agencies are businesses just like any other and, as such, they also rely on marketing strategies to grow and expand. In fact, the growth of any real estate agency requires constant attention, because a downturn in the market results in fewer clients. For that reason, it’s important to make use of the best strategies for reaching potential buyers and sellers of property within the local area.
Virtual Staging and 3D Tours
One of the best ways to reach new buyers is to help them feel a connection to your available homes. While creating a virtual tour via an app like Matterport does require an investment of $200 on average, the expense will be well worth it. A 3D tour helps buyers see the home from a first-person point of view, which is essential for creating an emotional connection to the property.
A virtual tour significantly increases the likelihood that a potential buyer will contact you for an in-person live tour, which is the next step toward making that sale. You can try this technology with just one or two homes to test out the return on investment. Once you see the effect virtual tours have on buyers, you’ll want to add them to all of your listings.
Give Experiential Marketing a Try
Real estate marketing is all about generating potential leads, but social media isn’t always the best way to do that. Instead of flooding your newsfeed with market data and the latest listings, try hosting an event in your community. You should look for something that interests you and use that to woo your former clients.
A wine tasting party, a weekend cookout, or a charity dinner are all ways to get your former and potential clients to interact with you in live settings. This is an opportunity to get to know the people in your community while sharing something of yourself with them. Just don’t forget to hand out business cards at the event.
Don’t Forgo Paid Online Advertising
Even just a few years ago, online marketing was crude and expensive, compelling businesses to cast a wide net and receive only a minimal return on investment. Today, every legitimate advertiser offers target market analysis and other analytical tools to help you refine your advertising campaigns. This means you can select what kinds of consumers will see your ads, helping you to keep your advertising costs low in relation to your expected returns.
For instance, you can target people in your geographical area, middle-aged women, or young college students all by making a few adjustments. As your ads begin generating leads, analytical reports will help you determine whether your settings are having the desired effect. Customizing your settings will help you reach people in other demographics, accordingly.
Write an eBook
While it seems that everyone is writing an eBook these days, there’s a good reason for that. By writing about what you know, you can establish yourself as an authority. Additionally, offering an eBook for free is a great way to provide quality content and generate leads at the same time. The eBook should only be available in exchange for email addresses and zip codes. This will provide you with a database of leads, so you’ll have somewhere to start as new houses hit the market.
Keep an Eye on Your Competitors
There is a shortcut to effective real estate marketing and that is to watch what other real estate agents in your area are doing. Watch to see what marketing strategies have failed for them. You can either avoid those strategies, or you may see ways to improve upon them. Alternatively, don’t be afraid to mimic effective marketing campaigns used by your competitors. If that feels like you’re cheating, you can personalize the approach to fit your own sense of style.
While it goes without saying that you should maintain a website and social media accounts, you should be using them to watch your competitors online. By following the social media accounts for other agents in your area, you can see the types of content they’re sharing and evaluate the interactions they generate. This can help you develop an online strategy for yourself in the same way that watching a competitor’s real-world marketing strategies can also help you grow your agency’s reach.
These suggestions are especially effective in helping real estate agents grow their reach within the communities they serve. While your personality, your style, and your geographical area may affect how useful some strategies are for you, it’s important to keep trying and to continue looking for new marketing ideas. Through a process of trial and error, you can find the marketing strategies that will work best for you.
Roman Patel has been in real estate since his mid-twenties. Now with over 10 years of experience, he is sharing with others the tips and tricks that helped him be a successful marketer, salesman, agent, and investor. In his free time, he enjoys traveling the world.