Do you want to refine or develop your real estate marketing plan?
For those looking for marketing tools for realtors (R) and real estate agents, multi-million dollar agent “best practices” include multiple “pillars,” or lead sources, and a refinement of the three main points contact with customers. These three key points of contact with the client are the initial generation of real estate leads, the point of sale (listing presentations and processing of buyer representation) and the generation of post-sale referrals.
A common mistake made by agents is choosing either a “direct-to-consumer marketing” approach or a “referral-only” approach. This is a mistake simply because for optimal performance you will need both. Fortunately, when done right, it doesn’t have to be expensive. A referral-only real estate marketing plan is based on actively growing (farming) a group (farm) of referral sources. For most systems, this is based on consistent contact systems to ensure presence of mind and respect for potential referrers, usually via low-tech stamped handwritten notes, monthly phone calls to people who have agreed to you refer when they hear of people wanting to buy or sell, occasional parties with clients, and occasional visits to see someone in person a few times a year. These systems are carefully designed to look casual, but when combined with newsletters and real estate tools, they’ll make your farm love you personally and respect you professionally. Imagine getting 2-3 referrals per month from a financial planner, 2-3 from a tax professional, 1-2 from your grandmother, etc. and you really have a solid business foundation. Closing rates on referrals are always much higher with referral marketing and the cost per lead is lower.
So why not just use that?
Because you may not have 1,800 people who like and recommend you, and even if you did, there are sure to be people buying or selling in your area who would love to work with you.
But they don’t know you.
It’s up to your direct-to-consumer marketing to change that. While bus stop ads can improve neighborhood visibility, who honestly calls a real estate agent because they’ve seen a bus stop ad? These days, print ads and bus stop ads should only be used after you have completely dominated internet real estate marketing in your area.
How to dominate a territory? Message and delivery. Today, delivery is done via the Internet for over 90% of buyers and virtually all sellers who research agents online before selecting which agent to sign with. Although the internet is a vast space, you can dominate page 1 of Google using our free search engine optimization (SEO) report and dominate other areas with pay-per-click (PPC), marketing social media (facebook, myspace, twitter, etc.) and trafficked verticals like Craigslist. Our company is focused on creating amazing and compelling offers so you don’t have to, although you can certainly create your own.
Here are some suggested pillars to consider:
– Expired listings and retired listings. These are the easiest “cold runs” you will find. If you decide not to buy ours, you can certainly create your own. The #1 mistake people make in expired ad marketing is expecting an immediate conversion. Usually, sellers are inundated with offers immediately, but relisting activity peaks 6-8 weeks after expiration or withdrawal. Partner with a mortgage lender to reduce the cost, as this can lead to refinances and loan modifications.
– FSBO. A strong FSBO pillar alone can get you 1-3 listings per month in an average area. For this you will need a real estate postcard marketing system or a fsbo postcard system. Click on our site below for free patterns and help with them.
– Home buyers. The most common mistake in real estate marketing for homebuyers is offering a homebuyer seminar. Try “fishing upstream” by offering a “credit seminar” instead or at least adding it to your marketing. We have an online system for that, which if you choose not to buy, you can certainly use it. Be sure to “target the uninformed”, i.e. people who have not yet decided to buy a home, because chances are that if they know sure they want to buy a house, they probably know an agent. Be the agent (or broker) to plant that seed, and you’ll most likely get the business, instead of “their dog owner’s former cousin who does real estate next door.”
– Investors. Many agents ignore this market, but one good investing client can get you many deals a year, both buying and selling. If you’re fresh out of real estate school, don’t start here – they’ll eat you up for lunch and waste your time, but if you have the other cold mainstays, this may put you in the big leagues , with millions of dollars in commissions.
– Move. It can be a tough market to break into, but this barrier to entry can work for you once you do. Not for beginners, but for experienced agents with top notch customer service and first pillars, this should be on your real estate marketing plan. Maximize your real estate internet marketing to start working on this business, and use plenty of such online videos (again, check out our site for examples to model or buy).
– HR benefits. Human resources real estate marketing for real estate agents and lenders can be a great source of business. It’s a perfect program for a mid-career agent.
If this all sounds good, first see what you can sweep up and implement. Don’t reinvent the wheel, because everything you need for all the pillars above has been produced. Focus your time and budget on configuring systems starting with the pillars above. As you stabilize them, within a month, you shouldn’t spend any time producing these leads at all. Just set up the system, then leave your pay-per-click budget alone and keep tabs on profitability, and hire offshore email assistants for other tasks like craigslist marketing. Deploy the pillars and within six months, there’s absolutely no reason why you shouldn’t be the #1 agent in your region, with the #1 paycheck. The tools are built and ready to work for you.
What hasn’t been covered in this article is list layout and tactics for after-sales, cross-selling, and referral generation. For more on all of this, check out our stealth site, http://www.RealEstateMarketing.ME for real estate marketing tips, tricks and resources.
When it comes to marketing your real estate business, creating a well-thought-out marketing plan is essential. As the saying goes “failing to plan is planning to fail!”. Here is how to create a real estate marketing plan that give you an edge in the industry.
First, set goals. Your goals should be achievable and measurable, specifying the desired outcome of your plan, how much you will spend, and your target audience. You should define what success looks like in terms of generating leads and making sales.
Second, create a budget. You want to make sure that your budget is realistic, and that it is enough to cover the cost of all marketing materials, promotions, and advertisements you plan to use.
Third, identify your target audience. Knowing who your target customers are (age, gender, income, etc.) is essential for understanding which marketing strategies are most effective for you. Research your target demographic and analyze their interests, which will help you determine the best way to reach them.
Fourth, develop digital campaigns. Nowadays, most real estate businesses have developed marketing campaigns through social media and e-mail campaigns. Utilizing digital campaigns is essential for gaining visibility in the digital age.
Fifth, finally, review and refine your plan. Don’t just put your plan in action and forget about it; create a timeline with benchmarks and evaluate the results of your campaigns. Revise your strategy and adjust your budget as needed.
Finding a balance between creativity and sustainability is key to developing a winning real estate marketing plan. Creating a plan that outlines goals and budgets helps to ensure the success of your real estate business. Set yourself up for long-term success by doing the work at the beginning and you’ll easily reap the rewards.