How to Elevate Your Marketing and
Rise Above the Competition
JULY 28, 2021
It can mean the difference between a full client load and an empty calendar.
Although the advice to choose a niche as a real estate agent is quite common, many new professionals don’t do so. Whether it’s due to the fear of making the wrong decision, a lack of understanding of the market, or a lack of faith in the “why” behind the advice, very few realtors start off strong with a niche.
However overwhelming the choice may be, it’s well worth it. The importance and impact of strategically choosing — and marketing to — a specific real estate niche simply cannot be understated.
What is a Niche?
A niche is a subset of the market you will focus on in your business. Choosing a niche means defining the specific group of people or types of properties that you will zoom in on as a real estate professional.
Endless niche options exist for realtors because niches can be narrowed down based on the types of properties you focus on, on location, or on qualities of a subset of clients. For example, some realtors specialize in working with first-time homebuyers or clients who are actively serving in the military.
Others zoom in on luxury real estate, mountain homes, farms, or oceanfront properties. The options are endless, and there are no wrong answers; what matters is getting clear about what your specialty is and who you serve!
Why Choose a Niche?
Choosing a niche or specifying a niche is often called “niching down” and can feel counterintuitive at first. Anyone in professions meant to serve people, realtors included, naturally tend to believe that the best approach to their business is to help anyone and everyone. After all, why would you want to “rule out” any portion of the population that’s in search of a realtor?
In reality, instead of ruling people out, strategically choosing a niche means you draw the right people in. Choosing a niche helps you position yourself strategically and intentionally to potential clients — the right potential clients for you. When you get specific about who you serve and how to do so, you instantly stand out from the sea of qualified real estate agents in your area.
Understanding the difference between expenses and
investments and how to use both in your marketing
campaigns.
Understanding the difference between
expenses and investments and how to use
both in your marketing campaigns.
Understanding the difference between expenses and investments and how to use both in your marketing campaigns.
Do you feel like you’re spending too much on marketing and getting nothing in return
? Are you tempted to give up altogether and rely on referrals and networking to grow
your real estate business?
Before you toss your marketing strategy altogether, you need to realize that marketing
is an investment, not an expense. When you view it through this lens, you can combine
certain strategies to play the long game and rise above your competition who has either
given up on marketing or continues to pour their marketing dollars into the wrong places.
Here’s how to get started.
Why Marketing Matters for Realtors
If you fall into the category of wondering if you should simply abandon your marketing
campaigns and rely on good old word-of-mouth and referrals, think again. Marketing is
crucial to building your real estate agency for a number of reasons, the most important being:
■ Most homebuyers look for homes first on the internet. If you are not marketing on Facebook,
Instagram, and other online sources, you will miss the vast majority of buyers.
■ You need to tell your story. All realtors need to develop a unique selling proposition (or USP)
that sets them apart from their competition. Once you know yours, you have to be able to get
the message out to your ideal clients. You can only reach so many people in person. To get your
message out there in an effective way, you need to market it.
■ Marketing helps you build trust. The more your ideal clients see and hear a consistent message
from you, the more they will trust that you can help them with their real estate transactions. The
only way to achieve this consistency is through marketing.
■ People rely on online reviews. Whether they are trying to decide where to eat for dinner or which
realtor to hire to sell their home, consumers look at online reviews to help them make their
decisions. If you are not effectively marketing your services, you will not have the positive reviews
you need to
gain new business.
■ You can track your results. If you aren’t tracking your efforts when it comes to getting new clients,
you’re playing a guessing game and will never know where your efforts will be the most effective.
Online marketing provides easy ways to track campaigns to ensure your dollars are being
well-spent.
■ You can reach the right people. You’ll never know if the people you really want to work with will
be at the events you attend or if word of mouth will reach them. In order to work with those in
your niche, you have to find them. Online marketing allows you to target potential clients based
on demographics like income levels, geographic area, and other interests. Once you’ve
targeted them, you can craft a message that will speak directly to their wants and needs.
Do you feel like you’re spending too much on marketing and getting nothing
in return? Are you tempted to give up altogether and rely on referrals and
networking to grow your real estate business?
Before you toss your marketing strategy altogether, you need to realize
that marketing is an investment, not an expense. When you view it through
With this lens, you can combine strategies to play the long game and rise above your
competition who has either given up on marketing or continues to pour their
marketing dollars into the wrong places.
Here’s how to get started.
Why Marketing Matters for Realtors
If you fall into the category of wondering if you should simply abandon
your marketing campaigns and rely on good old word-of-mouth and referrals,
think again. Marketing is crucial to building your real estate agency for a number
of reasons, the most important being:
■ Most homebuyers look for homes first on the internet. If you are not marketing
on Facebook, Instagram, and other online sources, you will miss the vast
majority of buyers.
■ You need to tell your story. All realtors need to develop a unique selling
proposition (or USP)that sets them apart from their competition. Once you
know yours, you have to be able to get the message out to your ideal clients.
You can only reach so many people in person. To get your message out there
in an effective way, you need to market it.
■ Marketing helps you build trust. The more your ideal clients see and hear a
consistent message from you, the more they will trust that you can help them
with their real estate transactions. The only way to achieve this consistency is
through marketing.
■ People rely on online reviews. Whether they are trying to decide where to
eat for dinner or which realtor to hire to sell their home, consumers look at
online reviews to help them make their decisions. If you are not effectively
marketing your services, you will not have the positive reviews you need to
gain new business.
■ You can track your results. If you aren’t tracking your efforts when it comes
to getting new clients, you’re playing a guessing game and will never know where
your efforts will be the most effective. Online marketing provides easy ways
to track campaigns to ensure your dollars are being well-spent.
■ You can reach the right people. You’ll never know if the people you really
want to work with will be at the events you attend or if word of mouth will reach
them. In order to work with those in your niche, you have to find them. Online
marketing allows you to target potential clients based on demographics like income
levels, geographic area, and other interests. Once you’ve targeted them, you can craft
a message that will speak directly to their wants and needs.
Do you feel like you’re spending too much on marketing and getting nothing in return? Are you tempted to give up altogether and rely on referrals and networking to grow your real estate business?
Before you toss your marketing strategy altogether, you need to realize that marketing is an investment, not an expense. When you view it through this lens, you can combine certain strategies to play the long game and rise above your competition who has either given up on marketing or continues to pour their marketing dollars into the wrong places. Here’s how to get started.
Why Marketing Matters for Realtors
If you fall into the category of wondering if you should simply abandon your marketing campaigns and rely on good old word-of-mouth and referrals, think again. Marketing is crucial to building your real estate agency for a number of reasons, the most important being:
■ Most homebuyers look for homes first on the internet. If you are not marketing on Facebook, Instagram, and other online sources, you will miss the vast majority of buyers.
■ You need to tell your story. All realtors need to develop a unique selling proposition (or USP) that sets them apart from their competition. Once you know yours, you have to be able to get the message out to your ideal clients. You can only reach so many people in person. To get your message out there in an effective way, you need to market it.
■ Marketing helps you build trust. The more your ideal clients see and hear a consistent message from you, the more they will trust that you can help them with their real estate transaction. The only way to achieve this consistency is through marketing.
■ People rely on online reviews. Whether they are trying to decide where to eat for dinner or which realtor to hire to sell their home, consumers look at online reviews to help them make their decisions. If you are not effectively marketing your services, you will not have the positive reviews you need to gain new business.
■ You can track your results. If you aren’t tracking your efforts when it comes to getting new clients, you’re playing a guessing game and will never know where your efforts will be the most effective. Online marketing provides easy ways to track campaigns to ensure your dollars are being well-spent.
■ You can reach the right people. You’ll never know if the people you really want to work with will be at the events you attend or if word of mouth will reach them. In order to work with those in your niche, you have to find them. Online marketing allows you to target potential clients based on demographics like income levels, geographic area, and other interests. Once you’ve targeted them, you can craft a message that will speak directly to their wants and needs.
Database Marketing Strategies
The Importance of Your Website as a Realtor
Why is Your Database So Important?
Your database is your key to staying in touch with those who may do business with you or who are likely to give you referrals. If you don’t have a way of keeping in touch with them and engaging with them, they will likely forget about you and their business (or referrals) will go elsewhere.
While many agents think they can keep track of those they need to touch base with by retaining their business cards, writing them down in their planner or simply remembering who they are, most are not organized and disciplined enough to do so. They need to rely on a system that involves not only building their database, but also effectively using that database to develop marketing campaigns that can include email newsletters, text campaigns, phone calls, or social media marketing strategies.
Some real estate agents decide to split their databases into two distinct groups: a lead generation group that includes only those who the realtor is attempting to gain as clients, and a sphere of influence group that includes past clients, networking and referral partners, and others who are likely to pass their names on to others who need a real estate agent. While both of these types of databases are useful, most agents find they get more business from their sphere of influence group than their lead generation group — especially if they are not using a professional, unique lead gen system.
What Mistakes Do Agents Make When Building Their Database?
Many agents suffer from “shiny object syndrome” when it comes to building their database. Instead of playing the long game and focusing on ways to slowly build their database with solid leads and close spheres of influence, they jump on the latest and greatest marketing trend and shift their efforts to a strategy they think will make them some quick sales. Unfortunately, a change in algorithm or other occurrences out of your control can easily put an end to the effectiveness of trendy marketing techniques. When you focus on building a solid database, you’ll insulate your business from external changes and reap the benefits a few years down the line when your list pays dividends and your income skyrockets.
Other agents do a good job of building a strong database, but then fail to utilize it by not creating a robust marketing strategy connected to it. Compiling the names is only part of the battle. The more important component is developing a system that consistently engages those in your database to keep them up to date and interested in what you are currently doing. Your system also needs to have “triggers” to let you know when someone in your database is at a stage where they might make the decision to work with you or pass on a referral so you can follow up with a phone call or an in-person meeting.
The Wrong Messaging
Build and Market to Your Database
As a realtor, your database is your best friend. This is your list of past, current, and prospective clients as well as referral sources who can help grow your business. A basic rule of thumb is that an effective database consists of around 1000 names and contact information. Once you’ve built a solid database, you can market to your contacts through regular email newsletters, texts, or personal invitations to events or open houses. The marketing you do to your database should follow the same guidelines as your social media marketing: keep content informational and helpful rather than salesy. This keeps your contacts engaged with your brand and ensures they will continue to pay attention to what you have to say even when they are not actively looking to buy or sell real estate.
Harness the Power of Social Proof
The theory of social proof states that people are likely to conform and copy the actions of those in their peer group or those they view as experts or who are trustworthy. When it comes to real estate marketing, you can take advantage of social proof by featuring testimonials on your site and social media, soliciting online reviews from those you’ve done business with, and by establishing yourself as an authority on the local real estate market with helpful, informative content. When you harness the power of social proof, you essentially have others selling for you and no longer have to hustle or chase leads.
2. Links to Active Social Media Profiles
Having a strong social media presence shows your
potential clients that you are up to date, active in the
industry, and committed to connecting with those you
work with. To make it easy for your website visitors to
connect with you on social media, make sure you add
links to each of the platforms you are on.
2. Links to Active Social Media Profiles
Having a strong social media presence shows your
potential clients that you are up to date, active in the
industry, and committed to connecting with those you
work with. To make it easy for your website visitors to
connect with you on social media, make sure you add
links to each of the platforms you are on.
Database Marketing Strategies
The Right Messaging
Understanding ROI
Understanding ROI, or return on investment, is the first step in creating a marketing strategy
that blows your competition out of the water. ROI refers to the revenue you generate from
your marketing after you subtract the money you spent on that marketing. For example, if
you spend $2000 a month for a marketing service and receive $2700 in new business as a
result of that marketing, your ROI is $700.Keep in mind that ROI on a fixed form of advertising,
such as a single display ad, will only be one-time, while ROI on an investment form of advertising,
such as database building, will continue to pay dividends long after the investment has been made.
Permanent Assets vs. Temporary Expenses
So what’s the difference between a permanent asset and a temporary expense when it comes
to marketing? A marketing strategy can be considered an investment when it creates a
permanent or at least semi-permanent asset that will continue to return dividends for your
company long after it’s created (and paid for).
The best types of investment marketing strategies usually involve content marketing, SEO,
and database creation and management. The articles you publish will remain long after you write
them, the links you build will continue to send traffic your way, and your database will continue to
be a source of leads, improving as you add more names to it. These types of assets give you
the power of compounding returns, meaning that each piece you add to your strategy will make
it even more valuable and increase your ROI.
Temporary expenses, or expense-based marketing strategies, involve paying a fixed amount
of money to get a fixed amount of visibility or space. Expense-based marketing includes
Facebook advertising, ads on traditional media like print, television, or radio, and billboard
advertising. You don’t build anything and you won’t benefit from compounding returns —
unless you combine these types of campaigns with investment-based strategies.
Understanding ROI
Understanding ROI, or return on investment, is the first step in creating a marketing strategy
that blows your competition out of the water. ROI refers to the revenue you generate from
your marketing after you subtract the money you spent on that marketing. For example, if
you spend $2000 a month for a marketing service and receive $2700 in new business as a
result of that marketing, your ROI is $700.Keep in mind that ROI on a fixed form of advertising,
such as a single display ad, will only be one-time, while ROI on an investment form of advertising,
such as database building, will continue to pay dividends long after the investment has been made.
Permanent Assets vs. Temporary Expenses
So what’s the difference between a permanent asset and a temporary expense when it comes
to marketing? A marketing strategy can be considered an investment when it creates a
permanent or at least semi-permanent asset that will continue to return dividends for your
company long after it’s created (and paid for).
The best types of investment marketing strategies usually involve content marketing, SEO,
and database creation and management. The articles you publish will remain long after you write
them, the links you build will continue to send traffic your way, and your database will continue to
be a source of leads, improving as you add more names to it. These types of assets give you
the power of compounding returns, meaning that each piece you add to your strategy will make
it even more valuable and increase your ROI.
Temporary expenses, or expense-based marketing strategies, involve paying a fixed amount
of money to get a fixed amount of visibility or space. Expense-based marketing includes
Facebook advertising, ads on traditional media like print, television, or radio, and billboard
advertising. You don’t build anything and you won’t benefit from compounding returns —
unless you combine these types of campaigns with investment-based strategies.
Understanding ROI
Understanding ROI, or return on investment, is the first step in creating a marketing strategy that blows your competition out of the water. ROI refers to the revenue you generate from your marketing after you subtract the money you spent on that marketing. For example, if you spend $2000 a month for a marketing service and receive $2700 in new business as a result of that marketing, your ROI is $700. Keep in mind that ROI on a fixed form of advertising, such as a single display ad, will only be one-time, while ROI on an investment form of advertising, such as database building, will continue to pay dividends long after the investment has been made.
Permanent Assets vs. Temporary Expenses
So what’s the difference between a permanent asset and a temporary expense when it comes to marketing? A marketing strategy can be considered an investment when it creates a permanent or at least semi-permanent asset that will continue to return dividends for your company long after it’s created (and paid for).
The best types of investment marketing strategies usually involve content marketing, SEO, and database creation and management. The articles you publish will remain long after you write them, the links you build will continue to send traffic your way, and your database will continue to be a source of leads, improving as you add more names to it. These types of assets give you the power of compounding returns, meaning that each piece you add to your strategy will make it even more valuable and increase your ROI.
Temporary expenses, or expense-based marketing strategies, involve paying a fixed amount of money to get a fixed amount of visibility or space. Expense-based marketing includes Facebook advertising, ads on traditional media like print, television, or radio, and billboard advertising. You don’t build anything and you won’t benefit from compounding returns — unless you combine these types of campaigns with investment-based strategies.
Now that you understand that talking yourself and your accomplishments up on your site is the wrong messaging, let’s take a look at the content that works. Here are some tips on creating messaging that resonates with your target audience:
Content that is helpful. What are the issues your ideal client is dealing with? Are they attempting to buy and sell homes at the same time and need assistance with financing a down payment? Are they struggling to find a home they are interested in due to low inventory? Are they trying to decide if they should relocate or buy a second home now that they are empty-nesters? Identify the pain points in your target market, then address those points through blog posts that you then share on social media and in newsletters that go out to your database.
Content that establishes you as an expert. Those looking for help buying or selling property want to work with the best. To show that you are an expert in your local community and industry, develop content that revolves around neighborhood events, local real estate news, and other industry issues.
Content from experts and past clients. When you use the power of social proof to develop your website content, you let others do the selling for you. Social proof is the phenomenon where others copy the actions of people they see as peers or as trusted individuals. If they see your past clients talking about your high level of customer service in a video testimonial or read reviews from experts in the industry who have worked with you, they will be more likely to choose you as their realtor.
Content that stays ahead of the game. Your ideal client wants to know what’s going on in the industry as soon as possible. They also don’t want to read the same old content on your site that they’ve read on all your competitors’ sites. To address these needs, stay on the cutting edge of the industry and share information your visitors can’t get anywhere else.
Components of an Effective Lead
Generation System
How the Right Messaging Increases Conversions
Additionally, choosing a niche allows you to optimize your time and deep-dive into the knowledge and skills needed to best serve your clients. There are countless nuances, specialized documents, and small bits of information that are pertinent to any niche, and trying to serve all niches equally well can quickly lead to burnout.
For example, realtors who specialize in helping military families can serve them best by learning all there is to know about VA loans and the best local lenders. On the other hand, if you’re a “generalist” and only take on one or two military clients each year, it’s likely that you’ll end up doing research on VA loans on the fly without being able to do a true deep dive. Choosing a niche frees up your time and energy while also allowing you to provide the very best service to your clients.
While remaining general and marketing yourself as a great real estate agent can work to bring in clients, you instantly cut through the noise when you position yourself as a specialist for a particular type of transaction, home, or person. Many people know what they want out of their real estate experience, so quickly identifying yourself as someone who can provide that specific result will go a long way in filling your inbox with qualified leads.
Choosing a niche and producing online content focused on that niche will also boost your SEO considerably, making it much easier for anyone searching the internet to discover you. SEO for realtors can work as an ongoing source of leads and revenue without much manual effort.
Once you’ve narrowed down your target market and begun producing content relevant to them, your web content will rise to the top when prospects search the internet for the solutions to their problems! As great as it feels to receive a referral or recommendation from a former client, optimizing your web presence will prevent you from leaving money on the table when clients without connections go to search for an agent.
Beyond that, niching brings some ease into your marketing and processes. It’s much easier to create relevant content and provide value when you know who you’re talking to! You’ll quickly establish yourself as an expert in your niche, even if you’re new to the real estate profession.
How to Choose a Niche
First, it helps to take the pressure off by remembering that the niche you choose doesn’t have to be the end-all-be-all. It can change and shift over time, you can adapt as you grow and learn, and you can always pivot. Choosing a niche early and tweaking it later on always leads to better results than waiting to niche because of a fear of making the wrong decision.
Finding the Balance
Successful marketing requires an investment of time, money, and energy. It also requires the
know-how to choose the permanent asset-type strategies as well as temporary expenses that
will create a robust and diversified plan to give you the leads you need. Once you master this,
you’ll become known as an authority in your market, get more clients without having to work for
it, and enjoy sustained success.
One of the best examples of balancing investment-based marketing with temporary expenses
would be to do a pay-per-click campaign (temporary) for a quick return to boost your numbers
quickly and combine this with a content marketing strategy that may not give you any leads in
the short-term but will begin building your authority for the future.
Are you tired of wasting your money on marketing campaigns that never seem to deliver?
Instead of throwing in the towel, change your mindset to view marketing as an investment
rather than an expense. Work with an expert like those at Luxury Presence who can help
you combine fixed-expense advertising with long-term marketing investments to
rise above your competition.
Finding the Balance
Successful marketing requires an investment of time, money, and energy. It also requires the know-how to choose the permanent asset-type strategies as well as temporary expenses that will create a robust and diversified plan to give you the leads you need. Once you master this, you’ll become known as an authority in your market, get more clients without having to work for it, and enjoy sustained success.
One of the best examples of balancing investment-based marketing with temporary expenses would be to do a pay-per-click campaign (temporary) for a quick return to boost your numbers quickly and combine this with a content marketing strategy that may not give you any leads in the short-term but will begin building your authority for the future.
Are you tired of wasting your money on marketing campaigns that never seem to deliver? Instead of throwing in the towel, change your mindset to view marketing as an investment rather than an expense. Work with an expert like those at Luxury Presence who can help you combine fixed-expense advertising with long-term marketing investments to rise above your competition.
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