First Steps in Developing Your Realtor Marketing Strategy

Up or Down?Like all humans, realtors generally experience more success if they practice good planning and goal setting. In real estate, careful planning involves planning out a realtor marketing strategy. The first step in creating a realtor marketing plan is daydreaming. This is counterintuitive to new realtors, who in their zeal and worry over turning a profit are tempted to instead chase after any realtor marketing ideas that cross their paths. Most people feel more comfortable getting something done than they do sitting down to perform the time-consuming, seemingly profitless task of setting goals.

Yet experts tell us that those who fail to create an overall marketing plan limit their own success. As real estate expert Scott Allen writes in ”Success Guide for Real Estate Sales,” real estate agents often become so wrapped up in the daily tasks of servicing clients that they forget to focus on developing future business. Allen points out that for these individuals, “Their success is limited by the number of hours in the day and/or the number of leads they get lucky to come across.” Realtors with a marketing plan, on the other hand, will generally see more robust sales and personal satisfaction over the long term.

Below, we cover a few of the areas you’ll want to address in your realtor marketing strategy.

Niche Realty: The Power of Focus

A narrow sales focus is one of the most powerful realtor marketing tools. In real estate, a niche may be a specific neighborhood, or it may refer to various groups of buyers such as new couples, second homebuyers or families with school-age children. For those with little experience in realtor marketing, it may seem foolish to limit your service to any category of people. However, the truth is that real estate agents with a clearly defined customer niche have an easier time getting leads.

As an example, let’s consider the byline a real estate agent might use on his or her website. “Arranging Portland, Oregon real estate opportunities” will have a harder time sticking out than “Expert in John’s Landing Family Homes.” The former ad line cannot hope to compete with much larger, more established real estate firms with countless realtor marketing tools at their disposal. However, the second focus has a clear message for potential buyers: This person specializes in homes for families in the John’s Landing area. As buyers generally zoom in on the neighborhood they’d like to live in, the second marketing approach will magnetize more leads. This is one way to find a real estate niche: Specialize in a certain neighborhood.

You can also become the expert in providing real estate services to different groups. You might choose to focus on a group you identify with. For instance, if you were recently married, you might focus your realtor marketing tools on new couples who are looking for a good starter home. Setting this kind of marketing focus allows you to quickly brainstorm realtor marketing ideas for lead generation. For instance, you might begin listing all of the new couples you know who are looking for a home – a single Facebook or LinkedIn message sent to this group can turn up valuable leads.

As you continue focusing on a specific niche, you will build a reputation for working with that group. Using our example, word will soon spread that you are the newlywed real estate expert in the neighborhood. Couples will soon begin approaching you, instead of the other way around.

Volume Goals: Setting Your Own Stress Levels

Secondly, you’ll need to set a few goals about how much you’d like to sell annually. You can focus on the number of homes you’ll sell or the revenue you’d like to bring in. Higher volumes will require more time, limiting your amount of time with family and friends. Aim to set realistic volume goals you are confident you’ll be able to meet. You’ll also need to consider how much you’ll need to earn to offset business expenses and create a livable wage.

A well-known proverb advises, “He who fails to plan, plans to fail.” Many people rush straight into new projects without thinking about the long term. Unbridled enthusiasm alone, however, cannot guarantee success. By following the realtor marketing ideas listed above, you can begin to create a realtor marketing strategy that can guide you to high sales and personal fulfillment.

[ photo by: aloshbennett, on Flickr, via CC License ]

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