How to Market a Real Estate Company
Define your company image., Create a brand., Choose a specialty., Determine a marketing budget.
Step-by-Step Guide
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Step 1: Define your company image.
How you choose to market your real estate company will have a major impact on the clients you attract, your volume of business, and how you conduct business on the whole.
Ask yourself some of the questions below and try to look at your company through the eyes of potential clients.Who is your target audience? Are you trying to attract first-time home buyers, small business owners, growing families, or some other group? What are your business strengths? How can you capitalize on these? What about your weaknesses? How might you improve these? Where do you want your business to be in a year? Five years? Ten years? Try to see the big picture and determine whether a large investment in advertising is a practical option.
What types of real estate are you selling? It might not make sense to go all-out on pricey advertisements if your average home sale/purchase price is $100K, for example. -
Step 2: Create a brand.
If your company doesn't already have one, develop a logo or other visual element to go along with your visual media marketing.
Your brand will be an identifying symbol by which your target market will come to recognize you.Make sure your brand suits your target clientele.
For instance, it will be especially important to develop an elegant and tasteful logo if you are aiming to attract a wealthy or elderly subset of the population, whereas something more catchy or bold might be more appropriate for bringing in younger clients.
If you already have a logo, consider how it might be improved and the sunk cost involved in updating it (such as the money you've already spent on print ads or billboards).
If you are not the artistic or visual type, consider hiring a consulting artist or designer to spruce up your brand image.
Use your brand in all real estate advertising and marketing; this includes print, television broadcast, and online ads.
You want your brand to become synonymous with your company. , If you don't already have a specialty, consider selecting a category of real estate on which you'd like to focus your business.
This can be anything you are qualified to do, from beachside bungalows to 50,000 square foot commercial buildings.
Having a specialty can help you narrow down your marketing efforts.For many businesses both within and outside real estate, the key to success is finding and filling a niche.
Do some research to find out whether any market subgroups are underrepresented by real estate companies in your area.
If demand is high enough, you can benefit by tailoring your company to this gap in the market.
You may find that marketing your company becomes easier once you've identified a niche.
This is because even a small amount of advertisement can alert interested clientele to your existence if you are the only game in town.
Having a niche can also help you to target your marketing efforts.
For example, if you are a buyer's agent brokerage, then you might want to advertise on TV or have a first time buyers seminar.
Keep in mind that your niche should be something you have experience and special training or education to help you be successful.
You can also use your credentials in advertisements for your services. , Assess your company's resources and the cost of various advertising options.
This will help you settle on a budget for marketing that will be enough to get your brand out there without bankrupting you.
Consider also what and who you are up against to avoid being overshadowed by larger, more visible competitors.
Be sure to take into account your target clientele and their habits.
For example, don't spend $10K on local cable television ads if you are targeting young adults fresh out of college, as a large portion of them are not likely regularly watching cable TV.
Do some research on advertising strategies suited to your target market.
Consider consulting a financial analyst or accountant (or your company's in-house finance representative) if you are not sure how to set an appropriate marketing budget.
An appropriate marketing budget is usually between 7 to 10% of your annual income.
If you do not yet have an annual income because you are just starting out, then get business cards and hand them out to everyone you meet.
Keep in mind that there are many free advertising options available to you as well, such as by using social media and posting on online listing sites such as Craigslist.
Consider all of your possibilities for free advertising as you plan your approach.
If necessary, look into business loan options to boost your advertising funds. -
Step 3: Choose a specialty.
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Step 4: Determine a marketing budget.
Detailed Guide
How you choose to market your real estate company will have a major impact on the clients you attract, your volume of business, and how you conduct business on the whole.
Ask yourself some of the questions below and try to look at your company through the eyes of potential clients.Who is your target audience? Are you trying to attract first-time home buyers, small business owners, growing families, or some other group? What are your business strengths? How can you capitalize on these? What about your weaknesses? How might you improve these? Where do you want your business to be in a year? Five years? Ten years? Try to see the big picture and determine whether a large investment in advertising is a practical option.
What types of real estate are you selling? It might not make sense to go all-out on pricey advertisements if your average home sale/purchase price is $100K, for example.
If your company doesn't already have one, develop a logo or other visual element to go along with your visual media marketing.
Your brand will be an identifying symbol by which your target market will come to recognize you.Make sure your brand suits your target clientele.
For instance, it will be especially important to develop an elegant and tasteful logo if you are aiming to attract a wealthy or elderly subset of the population, whereas something more catchy or bold might be more appropriate for bringing in younger clients.
If you already have a logo, consider how it might be improved and the sunk cost involved in updating it (such as the money you've already spent on print ads or billboards).
If you are not the artistic or visual type, consider hiring a consulting artist or designer to spruce up your brand image.
Use your brand in all real estate advertising and marketing; this includes print, television broadcast, and online ads.
You want your brand to become synonymous with your company. , If you don't already have a specialty, consider selecting a category of real estate on which you'd like to focus your business.
This can be anything you are qualified to do, from beachside bungalows to 50,000 square foot commercial buildings.
Having a specialty can help you narrow down your marketing efforts.For many businesses both within and outside real estate, the key to success is finding and filling a niche.
Do some research to find out whether any market subgroups are underrepresented by real estate companies in your area.
If demand is high enough, you can benefit by tailoring your company to this gap in the market.
You may find that marketing your company becomes easier once you've identified a niche.
This is because even a small amount of advertisement can alert interested clientele to your existence if you are the only game in town.
Having a niche can also help you to target your marketing efforts.
For example, if you are a buyer's agent brokerage, then you might want to advertise on TV or have a first time buyers seminar.
Keep in mind that your niche should be something you have experience and special training or education to help you be successful.
You can also use your credentials in advertisements for your services. , Assess your company's resources and the cost of various advertising options.
This will help you settle on a budget for marketing that will be enough to get your brand out there without bankrupting you.
Consider also what and who you are up against to avoid being overshadowed by larger, more visible competitors.
Be sure to take into account your target clientele and their habits.
For example, don't spend $10K on local cable television ads if you are targeting young adults fresh out of college, as a large portion of them are not likely regularly watching cable TV.
Do some research on advertising strategies suited to your target market.
Consider consulting a financial analyst or accountant (or your company's in-house finance representative) if you are not sure how to set an appropriate marketing budget.
An appropriate marketing budget is usually between 7 to 10% of your annual income.
If you do not yet have an annual income because you are just starting out, then get business cards and hand them out to everyone you meet.
Keep in mind that there are many free advertising options available to you as well, such as by using social media and posting on online listing sites such as Craigslist.
Consider all of your possibilities for free advertising as you plan your approach.
If necessary, look into business loan options to boost your advertising funds.
About the Author
Karen Morales
Writer and educator with a focus on practical home improvement knowledge.
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