One of the most exhilarating aspects of becoming a real estate professional is how the industry is constantly evolving. Previous conventional wisdom on the most effective ways to generate leads becomes obsolete as technology regularly offers new channels for extending your reach.
While certain approaches such as open houses, networking events, and a good old-fashioned (but possibly video) call will probably be in style for a long time, it pays to learn more about and adopt some of the latest methodologies.
Marketing and business development might not be your strongest suit, but every successful broker should stay in front of the hottest trends so you can hone in on what works for your brand and how to best serve your clients.
We’ve saved you some legwork and put together some of the leading insights on the cutting edge of business development strategies for today’s real estate agents.
Traffic, Conversions, and Economics
Consumers love being at the forefront of the latest tech. And as new apps, more advanced smartphones, and additional methods of messaging and mobile computing arise, there is also an increase in noise, distractions, and spam.
That’s why it’s crucial to stay focused on the fundamentals of attracting and retaining clients and generating valuable leads. This will help you take advantage of evolving opportunities without wasting time on fads and ineffective efforts.
Just remember that driving demand comes down to leveraging three basic concepts: traffic, conversions, and economics. Increasing traffic on your channels, converting that to interested potential customers, and the economics of the value of the services you provide.
While your business plan should be tailored to your strengths and market, there are certain building blocks that every real estate pro should incorporate into their holistic brand marketing strategy:
- Positioning yourself and your brand as a trusted source of information
- Creating consistent, engaging, and interactive content
- Understanding the needs of your target audience
- Getting referrals from happy clients
- Keeping your website and social media user-friendly and up-to-date
- Continuous education and market research
These six pillars will form the foundation of an agile and rewarding plan that will let you stand out from the crowd.
Once you’ve established this blueprint, you can dive deeper into perfecting the most effective moves for your real estate business.
You may find that a mix of traditional and cutting-edge strategies is best for your particular area of expertise. Certain demographics may always prefer an email or a call to a TikTok or LinkedIn message. The important thing is to utilize the latest tools to analyze your data and then take action based on what is actually working instead of guesswork or gut feelings.
There are more real estate-oriented platforms and apps available than ever before, and it can be difficult to find just the right combination for your specific needs. Unfortunately, it takes a bit of trial and error to identify the perfect real estate tech stack. Here are some qualities to look for in really useful industry software:
- Easy to use and master
- Offers a wide range of reporting options
- Affordable for what it delivers
- Responsive customer service and technical support
- Increases your efficiency
Setting up your workflow in a way that embraces new technologies will keep you ahead of the game.
Diversify Your Strategy
Another old-school standby that is making a strong comeback is in-person events. This is a powerful way to grow your network and wow potential customers. Open houses are great, but think outside the box — there are many different kinds of events you can host as a real estate professional. People love novel ideas and free stuff.
From workshops and holiday parties to fundraising and charity events, meet-and-greets, or informal luncheons and brunches for former and current clients, the possibilities are endless. Just be sure that you’re capturing as much data from your attendees as you can by using all of the tools at your disposal.
Getting your hands on and evaluating as much data as possible is the key to maximizing your efforts, increasing your sphere of influence, and attracting qualified leads.
Thankfully, being at the cutting edge means working smarter, not harder, and no more countless hours of trawling through dusty records and files or doing everything manually.
“Partnership” is a hot buzzword right now, but it’s actually critical for real estate agents to form mutually beneficial relationships. These alliances will nurture your ecosystem and enable you to reach more people and build brand awareness.
What kind of professionals should you seek out for a truly productive partnership?
- Home inspectors
- Commercial lenders and personal bankers
- Title company experts
- Interior designers
- Florists and bakers
- Home staging pros
These strategic partners provide invaluable connections and insight into neighboring industries, as well as offer an excellent source of leads. People always remember when you’ve done them a favor.
Find Your North Star
Enjoying success as a real estate professional takes hard work, determination, and creativity. There are tons of other agents in this market, and it can be challenging to attract attention and generate leads when there’s so much competition.
The ticket to increasing your revenue stream is embracing these cutting-edge business development strategies, using technology to optimize your efforts, and staying flexible in an ever-shifting market.
It’s also essential to create lasting relationships and strong partnerships with the people in your community and beyond. Working with a highly respected and experienced title services provider like Landtrust ensures that your clients enjoy a flawless experience and shower you with referrals.
If you’re ready to learn more about how we can help you grow your real estate business, reach out today!