The real estate agents we work with typically have two goals: get more listings and sell more homes. Many put in good effort to reach these goals, but often there is something holding them back from reaching their potential. What is it? Their marketing. Here are three of the biggest marketing mistakes real estate agents make that keep them from getting more listings and selling more homes.
Marketing Mistake #1: Not Focusing on Building a Brand Within a Specific Niche
When we first start working with agents, we find that many are spread too thin; they’re trying to work with anyone and everyone, which usually results in working with no one. The best thing you can do is pick a niche – luxury, first time home buyers, millennials, families, etc. – and focus on marketing and building your brand within that group.
Perhaps you have a lot of connections that are wealthy and want to buy luxury real estate. Great! Label yourself as the luxury home expert, know everything you can about the luxury market and focus your attention on this niche. Your business card should represent luxury. Your website should ooze luxury. The car you drive, the events you attend; all should be focused on getting the message out that you represent luxury home buyers and sellers.
Marketing Mistake #2: Only Using Referrals to Grow Your Business
The second biggest marketing mistake we see is agents who refuse to spend any money on marketing and claim that the only way they get business is through referrals.
Referrals are a great way to build the foundation of your business, but if you want to 2x, 3x or 10x the money you make each year, you’re going to have to invest in getting your name out to more people. Getting more listings and selling more homes is simple – you need to get more people to know who you are and what you do.
Think about why people do business with you on referral: they were looking for help buying or selling a home, and someone told them your name and that you can help. Pretty simple. So why not multiply this process? What if there’s a way to double the amount of homes you sell each month simply by spending a little bit of money to get your name out there and be found?
If you’re doing $10,000 per month on referrals, why not invest some of that to double, triple, or 10x your money? A good place to start is by having your own website that is easily found by everyone in your local area looking for a real estate agent. A one-time investment of $3,000 here can easily give you a 10x, 20x, even 100x return on your money.
Marketing Mistake #3: Having a Small Online Presence
Today, 90% of those searching for a real estate agent or home begin by looking online. The biggest mistake we see with realtors is they don’t have a big enough online presence.
If the only place people can find you online in 2017 is your brokerage website, you’re settling for a tiny internet presence and seriously limiting your income potential. It should be noted that the top agents in nearly every market have their own personal real estate website. Having your own website gives you the ability to:
- Build your brand
- Get more listings
- Sell more homes
- Make more money!
If you haven’t made this investment to expand your reach and grow your income, today is the day to get started. Even if all your website ever does is get you one more deal, what is worth it? If you spend $3,000 to make an additional $10,000, is it worth it? This is the question you must ask yourself.
Are you ready to get started on doubling your income? Click here or call 626.529.5946 today to receive $250 off your real estate website!