It’s no secret, that the real estate industry is incredibly competitive. In fact, research shows that there are currently over 1.3 million active realtors in the U.S. This leaves many new agents to wonder how they can stand out in a market that seems to be so saturated. Let’s take a moment to discuss a few of the most effective marketing tips for real estate agents.
1. Digital/Social Marketing
As the number of smartphones has increased so has the amount of screen time. According to statistics, the average person spends 24 hours each week online. And this presents an awesome marketing opportunity for real estate agents. Specifically, you can get leads by engaging your audience through social media.
When it comes to daily active users, Facebook is leading the way. Over half of its users log in every single day. But perhaps its biggest advantage is its Ad Manager. Not only does the Facebook Ad Manager give you the ability to target people in specific cities but in specific neighborhoods. You can also use the data that Facebook provides to get to know more about your target audience. And this is invaluable if you’re interested in nurturing leads.
The key to marketing your real estate properties on Facebook is to be strategic with your targeting. Target by zip code, age range, income, and homeownership status. Video marketing is also proving to be an effective strategy. Many agents are intimidated by video production, however, you’re more likely to get ahead of the game when you offer walk-through tours of your property. In fact, research shows that listings that feature videos increase their number of inquiries by more than 400%.
The most important factor when marketing on Facebook is instilling trust. Make sure that your ad copy is transparent. When crafting ads, show images that are realistic. Tell the buyer exactly what they should expect from the property. Including information such as the location, price, number of bedrooms, and square footage. You should also include testimonials and reviews as social proof.
3. Instagram to Market Real Estate Property
Instagram is another leader in terms of daily active users. In fact, it completely surpasses Pinterest and Twitter. What makes Instagram the ideal marketing tool for realtors is its audience. A large chunk of its users is millennials. And these are the individuals who are currently buying the bulk of the real estate.
But surprisingly, Instagram is a platform that many real estate agents tend to miss out on. If you want to stand out and stay ahead of the curve, then you should use this platform to engage your audience and nurture leads. The key to successfully marketing your real estate property on Instagram is to use the stories feature to show your homes. Make good use of your hashtags. Take time to engage with locals. Also, promote special offers and open houses.
This isn’t to say that all of your online marketing should be done through social media platforms. It’s also important that you take advantage of Adwords. In 2016, Search Engine Land found that on any given day, Google received 63,000 searches per second. And the numbers have only increased since then. This is why many experienced real estate agents use Adwords to market their properties.
The key to succeeding with Adwords is to track absolutely everything, particularly your Lead Referral Source. When preparing your ads, you should also put yourself in the shoes of your lead. Consider what their priorities are. As is the case with Facebook, you need to be strategic about how you target your audience.
5. Direct Mail to Market Real Estate Property
There’s a reason why the top real estate agents spend a large portion of their budget on direct mail campaigns. Not only do 70% of consumers feel that direct mail is more personal than their interactions online, but unlike email marketing, direct marketing has an open rate of 90%. This means that it’s one of the best ways to generate leads.
There are several ways to ensure that your real estate direct mail campaign is a success. For example, it’s important that your mail is timed correctly. Typically, November through February are the slowest months. The most profitable times tend to be between March and June.
You should also make sure that you’re sending mail at the right frequency. While you want to ensure that you’re reaching your potential buyers, it’s important that you don’t annoy them. Finding the best frequency requires experimentation. However, you can start by sending your mail once per month. This ensures that you’re regularly reaching out, but without coming across as a nuisance.
It’s important that your envelopes and postcards are designed to catch the potential buyer’s attention. This can be a little tricky as you may be tempted to design them in a way that they stand out. Unfortunately, with direct mail, the more it stands out, the more likely it is to be considered an advertisement and thrown away.
The key to catching your audience’s attention is to make sure that you’re displaying your most important information. The recipient should be able to quickly identify what you’re offering. Include information such as what you do, who you are, and what steps the recipient needs to take next.
Another important aspect of direct mailing is working with the right company. Companies like Wise Pelican have hundreds of templates and custom mailing lists for individuals in the real estate industry. This way, you won’t have to manually design your mail. And the best part is that there are no order minimums.
6. Word of Mouth
A huge part of attracting new clients is encouraging word of mouth. According to Nielsen, 92% of consumers trust suggestions from their family and friends more than they do advertising. While it’s important to engage with your target audience, it’s as equally essential that you focus on providing excellent service. This way, your customers will recommend you to their contacts.
A big part of generating word of mouth is making human connections. Sometimes, it’s the small details that matter most. For instance, get in contact with your clients on their birthdays. Send a special email or physical birthday card to let them know that you thought about them.
You may also send your clients small gifts to remind them that you appreciate their business. For example, you may offer free items with your logo on it such as pens, hats, canvas bags, or shirts. These can be great conversation starters.
7. Community Involvement
It’s important to get involved in the community. It helps to increase brand awareness, leads to networking opportunities, and you get the chance to connect with members of the community. Ultimately, community involvement is great for PR.
There are several ways that you can get involved in the community. For instance, you may sponsor an event that helps raise money for the local school. You could make a donation to one of your favorite charities. You could partner with another business and create a walkathon or marathon. You may also hold free giveaways and fun contests for the community.
The key to succeeding with this strategy is to make sure that you get involved in a cause that you genuinely care about. The more sincere your efforts, the more likely people are to remember you in a positive light.
If you’re new to real estate then you know how challenging it can be to attract new leads. Luckily, there are a few tips that you can use to make things easier. This is especially the case when it comes to techniques like direct mailing.