6 Marketing Tips for Estate Agents
Marketing your estate agency business can be tricky, but there are many things you can do to make sure that advertising your services to clients is successful. There are many things to consider, from ensuring you have an eye-catching logo to having a well designed 'For Sale' sign.
If you feel in a rut and need to kick-start your marketing, how do you go about it?
Tip 1: Spend at least one day a week on marketing your business
Growing and expanding a business takes TIME and COMMITMENT, two things that can be in limited supply. We often feel as business owners that we need to be working on what makes us actual money. Which in the case of an estate agent is selling or renting properties. But marketing your business is important; if you don’t market your business, you won’t have properties to sell or rent on behalf of clients.
Choose a day that isn't usually too busy, and make sure you have staff standing by to take over some of your workload.
Tip 2: Focus on one thing at a time
When people begin marketing their estate agency, they often assume that they have to focus on everything at the same time. But any marketing plan that really does reap rewards tends to focus on smaller aspects. It's important to set out short term and long term goals for your marketing scheme, rather than rushing through without any real end goal.
For example, you may be thinking of expanding in to another city, town or county; that’s great but use one aspect of your business in the area. If you're strong in the rental market, find out who would need your services in that geographical area and keep your foot on this marketing pedal. And give it time.
Tip 3: Monitor what works
You need a marketing plan that can be monitored and reviewed. You must set objectives that are measurable, and there are many ways to keep track of what is and isn't working. If you plan on snatching 50% of the market from under competitors’ noses then you need to know how and when you are going to do this by.
If you get to that date and you have made no progress, something is not right and your entire process may need to be reviewed.
Tip 4: Advertising has to work over and over again
Virtually every business owner says the same thing. If their advert draws in one paying client they will be happy. But you should be aiming to draw in a crowd of people from your advertisements- otherwise, it isn't worth the time.
If you only get 1 or 2 paying customers, is that form of marketing really working? Chances are that it isn’t and finding another marketing medium may be a better investment of marketing budgets.
Tip 5: Spruce up your website
Prospective buyers will spend their evenings trawling websites looking for their dream property. Check the usability of your website – can prospective buyers or renters get to the information they need quickly and easily? Is it reliable? Is it obvious?
Having the ability for people to opt-in to newsletters or updates via email or text is something that is now fairly essential in many businesses. A website that is not dynamic and up-to-date in terms of technology will be seen as old-fashioned.
Tip 6: Harness marketing power from a successful transaction
Great! You have sold a house for a customer and they have now moved on to happier pastures. Is that it?
If you've done your job well in this line of business, you're highly unlikely to see customers returning again. It doesn't have to end there, though! You can effectively use your customer to advertise for you by offering them incentives and rewards:
- Invest in some printed cards and offer a reward if they recommend friends or family to rent or buy with your agency
- Ask them to complete a questionnaire about your services, and enter them into a prize draw (this is a great tool for feedback)
- Give them a branded keyring or something just as useful for their new set of house keys Like all other kinds of business, you need to get as much value out of the transaction as you can! So don't be afraid to invest some more money into marketing. If it's done right, you'll be on a much better track.