One of the main reasons why new real estate agents fail is because they are unable to market themselves effectively. A high proportion (87%) of new real estate agents fail within five years of entering the profession. However, real estate brokers in the top 10% earned more than $150,000 a year. Local real estate marketing is an important aspect of an overall business strategy. When done correctly, your local marketing efforts should help grow your business organically through referrals and personal connections.
To stay relevant and top of mind with their local communities, local real estate professionals should consider implementing local real estate marketing techniques. The strategies listed below can help you boost your reach in your community and generate more leads.
Study the demographic profiles of people who have already purchased homes in your communities. This way you can determine what types of people are likely to be interested in your properties—and how to reach them in the vast world of the real estate market.
The most common target audiences are first-time buyers, move-up buyers, and active adults. When it comes to buying a home, buyers have different priorities. It’s crucial that you understand the priorities of your target audiences.
Once you have identified your target audience, you can use that information to develop a local real estate marketing strategy that should translate into increased sales.
A real estate marketing plan helps agents, teams, or brokerages determine where to focus their marketing efforts and budget over a given time period. It is powerful when it gives a single goal and provides specific guidelines like real estate marketing ideas for achieving that goal.
Technology allows local real estate professionals to organize listing images so that buyers can find the property more easily, improve the experience for users visiting the platform and make sure that the platform ranks higher in search engines. Here are local real estate marketing techniques you can employ through technology:
One way to reduce competition in the real estate market is to optimize for local SEO. This real estate marketing technique narrows your audience from a national scale to a local one, making it easier for real estate companies to target potential customers. The best markets to target are those in the vicinity of properties you offer – people looking to improve their standard of living and who are into real estate investing.
Promoting a property is about more than just the house itself. You can also promote the neighborhood, the amenities nearby and other things that will help you stand out from the competition. Another strategy is to use visuals in your content. Photos and videos allow interested leads to see the homes in more detail.
Google Adwords can be used for local real estate professionals advertising their properties on the web because there is no limit to how much an agent can spend on their ads. You can run effective campaigns regardless of whether you run an expensive one or a low-cost one because you set your max CPC, which is the maximum amount of money you are willing to pay for each conversion.
To use Google Ads successfully, you must learn to optimize your ad campaigns and leverage features such as the best bidding strategy depending on your goals. You need to understand the platform inside and out aside from learning how to choose keywords.
One of the best real estate marketing ideas is Facebook Ads. Facebook ads are a key component of a social media marketing strategy. These ads can be targeted to local customers, homes for sale and neighborhood pages, and can establish relationships between real estate agents and potential clients.
In the age of technology, it can be tempting to focus on the newest digital marketing tools. Word of mouth is the cheapest and easiest traditional way to get clients. A whooping 92% of people will believe a recommendation from friends and family more than any other form of advertising.
But there are still plenty of traditional local real estate marketing techniques that work just as well:
When it comes to real estate marketing strategy, print is an important piece of the puzzle. It should complement your real estate online marketing and work in synergy with it. Some examples of print advertising that you can use are postcards, flyers, and brochures.
Make sure that your listings on the paper are readily available on your website and on social media. This way, if potential buyers see your flyer, they know exactly where to look for the listing.
Local real estate professionals have long used direct mail as a powerful tool for reaching new prospects and growing their businesses. Automated direct mail campaigns allow marketers to target prospects in specific local geographies. A real estate postcard or direct mail can be a valuable resource when prospects are deciding whether or not to proceed with their real estate investing. Direct mails are tangible resources that prospects often hold on to for days or weeks, allowing them to view the property's images.
The in-person experience is a powerful one. Real estate professionals should know that engaging in face-to-face interactions with their prospective clients can be more valuable than online engagements.
Offline experiences like dinner, wine tastings, educational seminars, or charity drives are just some examples of event marketing that you can conduct in the locality. Aside from clients, you can also have free content.
A study showed that 98% of consumers created content like pictures or videos at live events, and 100% of those people shared that content on social media.
Ultimately, local real estate marketing initiatives should help build your brand and grow your business. By following the strategies outlined above, local real estate professionals can boost their businesses in new, exciting ways.
Hart, M. (2021, August 13). 20 Real Estate Marketing Ideas to Bring in Qualified Buyers. HubSpot. https://blog.hubspot.com/sales/real-estate-marketing
Iovox. (u.d.). 51 Real Estate Marketing Strategies: Ideas, Tools & Plans. Iovox. https://www.iovox.com/blog/real-estate-marketing
L'Eplattenier, E. (2022, January 25). 36 Clever Real Estate Marketing Ideas for 2022. The Close. https://theclose.com/real-estate-marketing-ideas/
WolfPack Support. (2021, July 16). 11 Awesome Real Estate Marketing Ideas. WolfPack Advising. https://wolfpackadvising.com/11-awesome-real-estate-marketing-ideas/