As a Real Estate agent, how can I find Buyer's and Seller's in my market?
I want to increase my sales in Real Estate but have a low budget until I make more money. What is the most effective, economical way to market to prospective Buyers/Sellers? Thank you kindly!
Hi Valerie, I have several real estate clients so I put together a video that shows them how to use Facebook for client prospecting. It's really inexpensive, highly targeted and converts at a high rate if you send them to a landing page where you can capture their email addresses for future email marketing efforts. Here's the link: http://youtu.be/KUHwzdeekUg Good luck! Arlene
We are happy to advise on our website publicidadJRM on facebook where you we can advise you with the knowledge to generate more sales in different questions like customer care visualization and design as well as the commercialization and marketing are at your command in lower costs which are accessible for everyone
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The best way to network as you are growing is to start with your online focus. Utilize social media, update your website content, and connect with potential clients or leads sources on LinkedIn. Please feel free to contact me if you have additional questions.
1. Have you defined your target audience? Commercial or Residential? High-end, low-end or middle of the road pricing? What is the market area (i.e., how many mile radius for your office location)?
2. Have you analyzed your competition and the market area to (a) understand your selling proposition (what do you to different, better than the others) and (b) what is the make up of your market? Residential/commercial property values. Number of homeowners and businesses. What are the demographics of the residents currently living in this market area and that are moving into the area?
From your profile the above is going to be essential because being a NAR Green Designee is all about LEED, sustainable, eco-friendly real estate.
Others who have posted have made some very good recommendations about networking and the need to be seen in the community, but let's take that a step further since most (80+%) of all transactions today start with a web search you need to be found on the search engines. If your profile is indicative of practice, you can't be found without a website.
Just because you have a small budget doesn't mean you can't invest in your future. There are other associated businesses that would complement your efforts that you might be able to do co-op marketing with that would reduce both of your costs by sharing expenses. You're going to have to scout out those prospective businesses based on your target audience definition to see if there is a match.
Establishing yourself as a resource in Social media sites like Facebook, Twitter and LinkedIn is free. Contributing to local business blogs and magazine articles with helpful guides will gain your visibility and exposure. Feel free to tweet contact me on any of my social channels for more!
One of the most effective and low/no budget way to build your reputation is what's known as "Inbound Marketing". The goal of Inbound Marketing is to create content and establish yourself as a thought-leader in your area. Blogging, tweeting, creating videos/podcasts, having an e-mail list or newsletter, etc. helps you establish a presence and gives potential customers a lot of ways to interact with you and keeps you front of mind.
Here are some content ideas to get you started:
-Ten things to do before you list your home (paint, clean, etc)
-Ten things to do immediately after buying a home (utilities, cable, etc)
-How to find the right agent / what to look for in an agent
-Current market trends (monthly/quarterly post?) Make sure they are specific to your area, not country-wide.
-Interview developers/contractors, interior designers, etc (this will also help build your network and is a win-win for you and them)
-How to take photos of your home that are list-worthy
-How to price your home
-Most desirable neighborhoods in your area
There are a TON of free resources to help you get started (google Inbound Marketing Resources). The best part about the content you create is that most of it will be "evergreen" which means it will be just as valuable in five-ten years as it is today - as you build a library of content, it will pay dividends.
Joseph gives good advice here; get that referral network working. Look at joining a referral network like BNI and work whichever network you choose to join well. Give as much as you can and others give back
Having a background in this stuff I can say there are a lot of solutions out there. Personally, I like the idea of either having a good site yourself or your broker having a good one. From there it makes the social, PPC and organic SEO efforts easier. The most important thing, IMO, is to measure where your leads are coming from and why and then scoring the channel. If you get 100 phone calls from one channel and none of them pan out then I'd be looking at other channels. You can't do that until you know why and from where your leads are coming in.
It's extremely difficult to do effect marketing as a Realtor as a lot of leads will not go anywhere. I generally find that having a strong presence in your community by heavily networking and having a good reputation is the most important thing. Focus on networking at lots of different events, but don't try to sell. Just Network!
Secondly, focus on past clients that you have worked with and ask for referrals. They know the quality of service you can provide and if they were happy they will gladly refer you to friends and family.
Valerie...not because of budget, but more so because he is 'old school' (his words), my own realtor, who I have worked with for years, gets out and knocks on doors, meets neighbors, hangs out at coffee shops and dog parks (a great source), talks to everybody and anybody, etc...I have also seen realtors use Facebook...but let me explain -
- there are many local (to your area) SECRET or PRIVATE facebook pages that are either 1) exchanges where primarily women sell products, give advice, provide local area recommendations (including realtors), share buying/moving information.
If you are not on Facebook, you should be - especially as a realtor. If you are not aware of these type of communities online, ask your network of friends if they are aware of any. You can also go into Facebook and in the Search bar put various queries like...we have Buckhead Advice and Referrals, or Atlanta Exchange, etc...Once you find them, you need to find someone that is a member and have them invite you. They are all INVITE ONLY...Other free marketing -
host your own radio show (blog talk is free for a 30 minute show)
seek out radio shows to be on
and what others have said below.
Marketing can be expensive but it doesn't have to be depending upon how much "risk" and work you are willing to take on.
There are several elements you need to consider and it can be overwhelming at times especially when so many marketeers have so many different opinions. But perhaps you should break it down into manageable bite sized pieces so you can look at all the opportunities.
Two of the biggest pieces are the message (creative) and the execution (media to communicate the message). There is no doubt that great creative is key. A lousy campaign that you throw millions of dollars of media or execution at is not going to give you much of an ROI no matter how many people are exposed to it. First of all, people are exposed to thousands of messages a day. Our brains are complex filters and we filter out everything that is not relevant or somehow addresses our needs. When you are a large brand with millions to spend, you can take the shotgun approach - throw your message out there and hope the right person sees it. This is how most mass media works. Take outdoor advertising for instance. The industry is proud that it can boost a .03% recall rate. That's not conversion. Usually this measurement is gathered by people who stand 100 yards away from an ad and ask people walking buy what they saw. I think it's a bit misleading. Ask those people in an hour and that .03% probably turns into .003%. Ask yourself how many billboards or posters you remember as you probably were exposed to over a thousand in the past week.
It's the only industry that has a 97% failure rate and boasts success.
Great creative can be used using any number of media. So my first recommendation would be to spend the bulk of what you have on the idea or the compelling message. Then think about your target. It's a very, very small market. However, your message is very relevant to those few people. So spend a lot of time thinking about how to reach your tiny market. The good news is that you don't need to sell a thousands of units a year. By focusing on how you will reach those people, you will be able to cut out a huge amount of marketing waste.
You most likely are not looking for a nation wide audience or even one in just your state or even your county. Chances are you can limit this to a few cities or even a few neighbourhoods.
You best chances are based on location based marketing. Where does your target audience gather? What kinds of stores, restaurants, shopping centres do they frequent? If you can determine where your audience is, you can then begin to think about how you can reach them. Again, your advantage is that you are not looking for thousands but as few a less than one hundred. This is where a single bullet approach can work for you. Yes, it's only one bullet but you are able to aim it at one target. Better to spend you money on those most likely to buy your product or service.
If you are willing to do some of the execution work yourself or you know people who can help you, you can save loads of money.
There is a new natural media industry that has sprung up in the last few years. It mostly uses outdoor spaces. Many are public. Two techniques are reverse graffiti (a stencil, water and a power washer) that literally cleans a message out of the dirt. Stencils are not that expensive and you can produce messages for a very, very long time. We have never worn one out even when we use them hundreds of times. Super easy as long as the sidewalk is dirty. Another would be sand printing. Sand printing is printing with sand and some materials that bind the sand together. They are both environmentally friendly, they are both guerrilla (guerrilla marketing is usually for people in your situation) and they are both easy to do. We work with children as young as 7 to produce these so you can do it yourself for sure.
The good part is that you can try these techniques and learn as you go. You do not have to buy hundreds of flyers, posters, Adwords (keywords for your business are probably very expensive by now). You can produce a few different stencils and see which ones work best. If you do it in a very smart way or have a great story, you can get free PR. Check out a company we work with a lot in the USA #thesavageway (we are located in Amsterdam). They not only can help you with the concept and perhaps the tools but they are masters of social media.
Natural media new, it's legally in a grey area but that can work to your advantage. I would say that if you do not have much money to spend, you have to look for unconventional media otherwise no matter what you do you could wind up having to spend several thousand dollars just to get a very basic "package".
You can market yourself without having to shell out tons of money. The costs are generally paying for others people "hours". The more you do yourself, the more you can save but again, I would not skimp on the creative. It is too important. You might try approaching local students of marketing or advertising. They need portfolio pieces, you need creativity. It's a great win, win. When I was in art school, I gladly worked for free if I knew I would get a real world example for my portfolio. Young people often have fresh ideas. They have not been corrupted by the often small minded thinking that comes with many years of working with lousy clients or by management who is more interested in making money than in producing brilliant work. Why do you think so much advertising is so bad? Because it is often all about the money. That said, try something unconventional. If it works and you make loads of money, you can always hire an agency down the road.
Here are some links to natural media. Sorry they are my businesses pages (not trying to sell you). Might give you some ideas. And one TEDx talk that you may wonder why I included it but it's to show you that advertising when used to do good can generate a lot of value. Buy, buy, buy messages in my opinion are dead. Everyone is selling you something. You want to find people who want to work with you because they like what you stand for as well as what you have to offer them.
Hi Valerie.. The biggest issue with Marketing tools is that the higher you invest the better the results become.. i.e if your Budget is $100 then you may end up getting 10 customers but if you increase the budget to $1000 then you will end up getting 150 customers..the longer and on the face campaigns have high impact but needs to have a good budget.. As for your requirement , the best way to market is by putting Posters/Flyers , Blogging in websites which target the local audience, showcase yourself at Local Events (sponsor a few) ...Get yourself interviewed by a Local Newspaper wherein you talk about the local trends like price/design etc in property..On the property of your Current Sellers, get a Nice Visible " FOR SALE" board with your company branding or your photograph next to and your number...If you dont have a Website do get one done too
When I worked with a long term stay hotel company we had some success finding individuals interested in subletting their properties through a very tactical implementation of an AdWords campaign. We initially spent $300 and targeted users local to Calgary, in a certain age demographic, with a very tailored cross section of interests.
Initiating something similar would be my best answer for you. If you have any questions, I'm happy to chat about it more.