Attracting buyers, sellers, and new agents isn’t just about service. It’s about capturing the shared spirit so you stay front and center in the local market.
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Attraction. Warning. Spirit sharing. As a broker, how do you order more?
I don’t care if you do business in Duluth, Minnesota, or Miami, Florida – in every real estate market in the United States, you compete in a very crowded market with everyone vying for l attention, all trying to get that new buyer, seller or agent to work with you and your team.
To be successful in real estate, you need shared-mindedness. If people are thinking of you, always bringing your name into the conversation, you will be successful.
Here are my tips for moving the needle in 2022.
1. Be visible
As the old saying goes, “out of sight, out of mind”. If you’re visible to your buyers, sellers, and agents, you’re in the game. You also need to be visible both physically and digitally.
However, each audience needs a different strategy:
Just because it’s a seller’s market, don’t give up on the buyers. Buyers are your future sellers. You need to plant many seeds in your area for your business so that it becomes a real market share in the future. Plus, nothing wins sellers more than controlling the buyer’s market. If you have a lot of buyers, things will happen.
Where are the buyers?
Open doors. Local search portals (Zillow and realtor.com). Local review sites (Yelp). Social networks (Facebook, Nextdoor, etc.). Wherever they are in your market, you have to be there.
Listing market share is ultimately how you measure the strength of your brokerage. Lists beget lists. Listings bring buyers. Listings bring agents.
Where are the vendors?
The next door. Yelp. At home on their couch. Walk in their neighborhood. At their local cafe. Again, wherever they are in your local market, you should be there too.
You need to continuously engage with your existing and potential agents. Find them in their own lists. At local and industry real estate events. Show the properties with their buyers. Social media – you have to be there too and you have to impress them all the time.
2. Multiply your ad marketing
You need to make your brokerage listings look like three times that number. More signs. More announcements. More registration parties. More social media. More emails. More promotions. Train and support your agents with programs designed to multiply marketing.
Take what you did in 2021 and triple it. Yes, triple it. Just because an ad sells quickly doesn’t mean you shouldn’t market it. If it sells immediately, you still need to give it the full marketing treatment. This hot seller’s market won’t last forever, and you need to “make hay while the sun shines”.
- Open doors : Put lots of open door signs. Take your normal number per ad and see if you can double or triple it. This obviously also works for reaching sellers and agents. They will notice it and remember it.
- Your local search portal (Zillow, realtor.com). If Zillow is the place to be, teach your agents how and why to buy as many ads as possible. You want your logo everywhere, and your troops need to advertise.
3. Train agents to do more marketing
A brokerage needs to train its agents to spend more on marketing – obviously you can’t pay for everything. Train them (and help them) grow their business. As they grow, so do you. Present their success as case studies to other agents you recruit and show how they have flourished at your brokerage.
4. Be big on social media
Hire a student or outsource social media to people who will generate followers, likes and engagement. Remember: Publishing and engaging your audience are two different functions.
- Post prolifically: It doesn’t mean much, but it does mean regularly, with brand consistency.
- Create your channels the place of information: New sales, new agents, new information for buyers, sellers and competing agents. Don’t forget tenants and landlords either.
5. Develop and showcase real estate leadership
Be the local source of information for your area or property to provide information and feedback.
- To reach to local publications and broadcast stations, or host a podcast. Organize events for all agents, not just yours.
- Hospitality specialists. Invite local and industry experts and turn them into great events.
- Invite everyone. Teach your agents to also invite their prospects and customers.
- To be coherent. Once you find the activities that work for your brokerage, keep the momentum going and find ways to go bigger and better for the next event.
Remember, if you share the spirit, you will generate market share – and nothing retains and recruits better than that. To be the place to be, and even in a crowded market, success will follow.
Mark Choey is the founder of HighNote Labs and co-founder of Climb Real Estate in San Francisco. Connect with him on Instagram or LinkedIn.