There are many proven ways to build a real estate business. When researching the most successful real estate teams and business models in today’s markets, we see the same four marketing strategies consistently outperform all others.
These strategies are pipeline-based and can be heavily leveraged to produce unlimited results.
- Database Lifestyle Programs
Personal relationships trump everything else. If you have a strong, personal relationship with a client, they will use you for their real estate needs, regardless of how incredible your competitors’ offerings are. But for clients to choose you, they need to know, like and trust you. Your goal is to develop all three of those components with everyone in your database.
The challenge is that real estate transactions only happen, on average, every seven years. To stay top-of-mind with the people in your database, you need to develop a strong relationship beyond the transaction and assist them in improving the lifestyle they live in their home.
- Farming
The most common type of farming is geographic. Focusing your marketing efforts on a specific district or area is one of the best ways to generate name recognition and set yourself apart as an expert. The majority of activities required to farm an area are easily systemized and can be implemented on a large-scale.
Many Realtors are scattered and far-reaching in their marketing efforts when they sit open houses, deliver flyers, take out ads, get bus benches, and build websites. Concentrating these activities on a specific area can produce compounded, long-term results.
- Websites
The Internet is the number one source people go to for information. While most Realtors now have some web presence, few have gained the expertise or have made the financial investment to capitalize on online marketing. Regardless of the many different online marketing strategies available, the foundation is your website.
Websites provide a substantial advantage over other marketing efforts with their ability to track every click. The power of immediate measurement and feedback is an enormous benefit that makes online marketing impossible to ignore.
- Strategic Alliances
Many top-producing Realtors and teams have relationships with institutions, companies, or individuals that produce a windfall of leads and clients. These are strategic alliances. Strategic alliances can be created with builders, investors, relocation companies, or anyone else who has access to many real estate transactions. The right relationship with the right person could lead to hundreds of transactions throughout the life of your business.
-Written by Lindsey Smith, CIR REALTY – Manager of Operations and Realtor Development
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