Real estate agents are perceived by the general public as being similar. If you have even a small amount of experience in the industry, you have already discovered this.
It is challenging to charge a premium for your services when the general public views you as a commodity. This is one of the reasons the typical agent sells fewer than ten homes annually and earns less than $50,000 per year, according to a NAR survey.
Those that succeed in the business stand out and get noticed by acting differently.
Why You Need To Differentiate And Specialize
Have you ever genuinely wondered how to make yourself stand out in the eyes of people who control your income? To stand out from the competition in a sea of "sameness," differentiation is now more crucial than ever.
especially given that it seems like a deluge of new licensees is currently entering the industry.
Specializing and differentiating yourself and your services can have a significant impact on your market impact and financial success for both new and seasoned agents.
Three strategies I used that might be effective for you as well.
For individuals wishing to expand their real estate firm, there is good news. The wheel doesn't need to be invented again. Some ideas that work well have previously been demonstrated by some. Review a few of those.
Creative Listing Techniques
"You have to list to last" is a common phrase used by seasoned real estate salespeople. Agents only attempt to pursue getting a listing right now for a solid cause. Each listing has the potential to generate leads, and often takes less time to create than a buyer.
It is difficult to stand out when there are so many agents using the same old techniques, such as cold calling, circular dialing, etc.
To attract sellers' attention, a new strategy must be used.
Go deep and specialize in a certain region or demography. At least a few "farmers" who have been at it for a while are people you know, without a doubt.
They are effective because they concentrate on one or more geographical areas. They set themselves out by being authorities in that field.
Find a market that suits you. You might have knowledge of properties near lakes or in golf communities.
Using Social Media
Social media does indeed function. If you haven't utilized it or have only "dabbled in it" up until now, it might be time to truly commit.
In many ways, social media is the foundation of your brand. Future clients will be watching you there as well as your SOI, who will be tracking you there to determine your approach, personality, and consistency.
A scalable and always-on networking potential for your company is social media. However, it necessitates continued effort.
Start by compiling a list of inquiries from clients, then respond to those inquiries on social media. Those who are having trouble coming up with content ideas might try this. After that, dedicate 30 minutes a day to posting and communicating with your fans.
If you want to take it a step further, you can use social media to reach tens of thousands of people in your target market for as little as $5 per day.
By concentrating on an efficient and consistent social media approach while just investing a little sum of money each month, you can rule your Zip Code or city.
It is a very cheap yet efficient approach to always remain in front of your target audience.
Marketers' Sphere Of Influence
It has been said again that your database is your most valuable asset in real estate. Are you utilizing it to the fullest?
At least 90% of agents conduct business in a transactional manner. No follow-up is necessary after the sale has been made and closed. The reason isn't that the agents don't want to follow up. Instead, they are at a loss for words and move this task farther down their list of priorities.
One method to remain perpetually on the lead generation hamster wheel is to think short-term. The happiest agents in the industry rely on repeat business and recommendations.
The best method for marketing to your database? A CRM. The intriguing thing is that, if you ask 100 agents if they utilize a CRM, 90% or more will say no, or that they do but almost never use it.
It can be as easy as performing one or two things that no one else is doing in various business fields to stand out.
Keep an eye on your database and communicate frequently with them. You'll receive enormous benefits and run a company you love.
How to Set Yourself Apart as a Realtor
It has been demonstrated that building a recognized brand can result in significantly greater success than being "unknown."
You can influence and concentrate on a number of factors in order to become well-known for something that matters to your audience.
Your Folks
The greatest way to build your brand is to start with the people you serve, according to some. Who are your tribesmen? Who can you help and be their hero for?
With some groups, you might naturally fit in, and they'll respond to you better. You may be intimately familiar with their journey and have a first-hand understanding of their challenges.
Your past could be a major point of differentiation in your industry. You understand what veterans go through if you were a member of the armed forces. You are bilingual in their language. You may easily identify with them.
If you love golf, you can find a lot of people who share your interests. Many agents play golf every day of the week and earn a decent career while cultivating lasting relationships.
Your Offering
If you want to have an influence on the market, what you provide your customers must be distinctive. Clearly state what you are selling and do so in all of your marketing.
Your potential customers must understand what you do differently and how this distinction benefits them. How can you use what you have to meet their needs?
Find the areas of the buying and selling processes that are painful. Create a product that addresses those issues, and see how well your company does.
Your Character
One error that many agents—and salespeople in general—commit is attempting to please everyone. To avoid offending anyone, they tamp down their personality, becoming bland and universally appealing.
That is flawed because it is wholly unauthentic. You have a message and a narrative. And you share characteristics with thousands of other people. Their personalities are comparable.
Your business will benefit if you can find people who share your viewpoints and with whom you can communicate.
It is also much simpler to get up knowing you will work with individuals you enjoy being around. People you truly enjoy conversing with without second-guessing your words out of concern for offending anyone.
Useful Service
The industry as a whole believes that real estate services are uniform. The average person doesn't know much about how to list and sell a house.
You could benefit from this. You can differentiate yourself by being open and honest with the public about the specifics of your service.
Additionally, you might identify niche market demands that are not being met and incorporate a solution into your business.
Consider this real-world illustration: Leaving the house tidy and ready to move into is one of the major hassles for sellers when they are moving out. The buyers are also having a problem since they have to move in, clean up, and take care of all the other stuff.
You may have a cleaning company arrive and make sure the home is ready for the buyer to move in as one of the highlights of your offering.
The fact that those customers will remember you and what you did is an added advantage. Their other agent is likely to be unavailable when it's time to sell. Post-close marketing to them will position you for another listing when the time comes.
TL;DR
Real estate success is not always simple, but it can be. Whether you are just starting out or have been in the industry for a long, you may need to review your strategy.
Take a close look at how you and your company are seen by end users if you are not seeing the business success you had hoped for.
Do they need to hire you as a professional if they want the best? Or are you just something they can buy around every corner?
Create a brand with a niche. Your value proposition should be distinctive. By using marketing, create a sense of scarcity. When used properly, these three elements can be an effective strategy for marketing and expanding your real estate business.