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
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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.