5 Marketing Strategies Real Estate Agents Can No Longer Ignore
The number of real estate agents is growing each year. In 2020, the National Association of Realtors reported 1.46 million members – an all time high.
The question is: how do you stand out as a real estate agent in a crowded market with a low housing supply and consumer trends that are uncertain and changing daily? Great marketing is the answer. When it comes to marketing, it’s critical that you put time and effort into the areas that will allow you to reach your ideal clients most effectively.
For some agents, that means spending time on Facebook, for others that’s investing in radio advertising. No matter where you practice real estate or who your ideal audience is, however, these five key strategies are important for all agents to consider.
Native advertising is a powerful way to expose your ideal clients to content relevant to their interest in real estate. Native advertising is the use of paid ads that match the look and feel of the platform they’re on. For example, ads in an Instagram feed are ‘native’ because they match the look and feel of a regular Instagram post. Native ads on the open web fit the website where they appear, whether it be CNN, The Guardian, a sports site or thousands more. Users who show interest in real estate and related topics will be targeted with your ads, so you can gain exposure to potential customers outside of social media networks.
Research has shown that native advertising generates a click-through rate 8.8 times higher than the average display ad. Luckily, there are many different ways you can capitalize on this trend. For example, native carousel or video ads are creative ways to showcase various properties or create a compelling story about purchasing a new property.
Here are some native advertising examples to give you some ideas.
If you plan to use this form of marketing, here are a few things to keep in mind:
- Make ads mobile-friendly
- Keep videos short at 15 to 30 seconds
- Incorporate your logo into the advertisement
- Use pictures of real people
- Create compelling thumbnail images
Social media marketing
Social media is the go-to marketing strategy for all types of businesses, but it can be especially effective for real estate agents. Approximately 44 percent of real estate agents received leads from posts on social media. This type of marketing allows you to build relationships with your potential customers and while also developing brand recognition, which ultimately leads to connecting with ideal clients.
The key to making the most of social media is being on the sites where you’re most likely to find your ideal clients. To do that, consider the demographics of some of the most popular platforms, according to Sprout Social’s 2021 report:
- Largest age group: 25-34 (26.3%)
- Gender: 44% female, 56% male
- Largest age group: 25-34 (33.1%)
- Gender: 57% female, 43% male
- Largest age group: 30-49 (44%)
- Gender: 32% female, 68% male
- Largest age group: 46-55
- Gender: 51% male, 49% female
One way to ensure that your content is top of mind for customers is to send out regular e-newsletters. While this may seem like an outdated practice, it can actually drive better results than social media.
According to RivalIQ, Facebook has a .08 percent median engagement rate and Instagram has a .98 percent median engagement rate. Conversely, Constant Contact found that, in real estate, email marketing has a 15 percent open rate and a 5 percent click rate.
Another key value of this marketing strategy is building credibility. In 5 Ways an eNewsletter Can Help Your Real Estate Business, marketing experts at Paperless Agent explain: “If the content you provide is both knowledgeable and useful, subscribers begin to view your business as a credible resource. This builds trust, which can lead to conversions down the line.”
As such, it’s important to not just send newsletters to send them – but to focus on how you can provide the most value. This starts with knowing your ideal client, including what they want and need to hear from you. If you can do this, this marketing medium can provide real ROI for your business.
You don’t need to do all the marketing yourself. Use co-marketing to leverage the customer base of another local business and get in front of new potential clients. For example, new homeowners will need various services when moving into or selling a house, such as a handyman, a moving company, an electrician or a plumber.
You can work with these professionals to build a business network where you refer one another to earn more business. What’s more, by partnering with and recommending these companies, your clients will have a smoother transition when it comes to moving into their new homes. This can lead to more referrals from past clients as well.
Video can no longer be ignored if you’re a real estate agent. Not only is this a growing trend in all industries, but it will pay dividends for your business. Here’s how:
- Video can attract up to 300 percent more traffic to your website.
- 78 percent of video marketers say video has directly helped increase sales.
- In 2020, 27.2 percent of online users watched more than 10 hours of video weekly.
Not only is video growing in popularity, but it’s a medium that’s made for real estate agents. Think about it: video gives buyers a more realistic idea of what the property looks like and sets the stage for them to start a conversation with you about seeing the home in person to make a final decision.
You can use video for home tours, in addition to client testimonials and even educational posts, where you teach your audience.
Implement Real Estate Marketing Strategies Today
You can no longer ignore proven marketing trends if you want to grow your real estate business. While there are many marketing options to consider, these five strategies ensure you’re most effective with your time. Find the platforms that work best for you and leverage them to connect with clients so you can start driving more real estate leads.