Ever since the historic recession of 2009, the real estate industry has become a bastion of unpredictability. Sales have continued to be wildly inconsistent from one month to the next and one market to the next. In this type of market environment, there is a premium put on the ability of real state agents to find effective ways to generate sales. With the proliferation of the Internet as a marketing tool, developing an effective strategy has become more complicated than it was 10 years ago.
The Use of Marketing Strategies
Generally, homes are not marketed with traditional mass marketing tools such as television, billboards and radio spots. For real state agents, the task at hand is to come up with creative marketing strategies that successfully target specific groups of individuals at specific times. In a highly competitive market, the agents with the most reliable strategies are the ones garnering the highest commissions.
Top 3 Strategies to Use to Generate Real Estate
While there are a variety of marketing strategies that might work on a local or regional level, there are certain strategies that seem to perform well on a consistence basis with no regard to location. By incorporating three of these strategies, real estate agents throughout the country should see a marked increase in leads, which eventually translates to an increase in sales.
- 1. Blast From the Past – Throughout the years, a smart real estate agent will develop a database of current clients, prior clients and prospects from the past. This database might also include potential buyers encountered at other recent open houses. If the agent can secure access to these individuals via email or a physical address, sending out new listing information or simply touching bases becomes as easy as typing a letter and clicking a mouse. By including a little value added information like real estate tips, business relationships that bear fruit might pop up at anytime. It’s amazing how many times potential leads can be generated from people who weren’t actively looking to buy or sell. The key to success with this strategy is for the real estate agent to stay active among the people who might need them in the future. These types of relationships can also be enhanced by using social media sites like Facebook.
- 2. Professional Networking – The buying/selling of real estate is a complicated process. It usually requires participation from real estate agents, an escrow officer, lender, appraiser, insurance agent, title officer and in some cases, attorneys. By working hard to establish business and personal relationships with local people working in these professions, the ability to generate sales through referrals in greatly enhanced. The process usually starts by handing out professional business cards that include a picture. From there, the agent can start building relationships with quick emails, by joining associated organizations and clubs where they might encounter some of these same individuals at meet and greets or by offering referrals of their own.
- 3. Address Specific Websites – Most real estate agencies will incorporate all of its listing into the company’s main website. While it provides an easy method for buying prospects to browse multiple listings in one sitting, it is equally effective to have a website developed for each specific property listing. This gives prospective buyers an easy way to find each property while giving the agent a forum to offer plenty of pictures and key information related to the listing. Buyers and sellers always appreciate it when real estate agents take the necessary steps to make the home-buying process as easy as possible.