Starting as a beginner realtor is a daunting task, and it can be difficult trying to distinguish yourself from the competition. However, some popular tactics can help you stand out from other agents to become a successful realtor.
Let’s look at the top-producing real estate agents and explore how they succeed in this competitive market.
Engage with Their Sphere of Influence
A sphere of influence is the group of people directly or indirectly influenced by your actions. It includes family, friends, colleagues, and others that you’re connected with on social media or other online platforms.
Top-producing agents use their sphere of influence to find new business opportunities, attract customers and grow their careers. They’re constantly connecting with other people in their sphere (or widening it) to expand the circle of influence to reach more people.
So, when it’s time to meet with a potential client, these agents bring along people they’ve met on social media platforms. They might even ask their sphere of influence to help them connect with possible customers.
Find other ways to engage your sphere of influence. Let them know you’re interested in connecting with them on social media and invite them over for coffee or drinks. Or start a program where they can share their experiences and success stories when they buy or sell a home.
Frequently Post on Social Media
The power of social media for real estate is in the creation of a virtual world in which you are a part of a large community with real-time interactions. You can interact with your friends, family, colleagues, and maybe even strangers simultaneously.
So, top-producing agents are constantly using the power of social media to engage their sphere of influence on Facebook and Twitter.
For example, one top-producing agent will post her his pictures (or selfies) while making new connections in the real estate industry through Instagram and Facebook groups. This lets others in her sphere of influence know what she’s doing and how she’s expanding her network.
You can also engage with potential customers and clients by posting updates on social media. Posting pictures of your favorite restaurants or cafes can help you connect with others in your neighborhood. By posting a picture of your pet, you can attract others who love animals and want to talk about their dogs or cats.
Door Knocking in Your Neighborhood
This approach can look weird but trust yourself and make the bold move to get to know people in your neighborhood. Visit them and make an interaction out of it, introducing yourself and asking them about their needs in a neighborhood.
In certain parts of the world, this is how you’d introduce yourself to an elderly neighbor. But in the real estate industry, you can use a similar technique for meeting potential clients.
Knock on doors in your neighborhood to connect with people you know and may have passed by before. Some agents sell services such as house cleaning, home repairs, or even furnishings. Others are making cold calls and introducing themselves to new customers.
Offer your services and let them know why you’re there. Thus, knocking on your neighbors’ doors and selling your services offers you an opportunity to expand your sphere of influence. Others in your neighborhood see you or hear you when you knock on doors.
They may remember your name and start looking into what you’re offering. It is a strategic way to connect with people in the real estate industry and outside of it.
Start an Email Newsletter
This is a tremendous strategy to expand your market pool without physically meeting the prospective clients. You can use your email newsletter for announcements and promotions in the real estate industry. Start by sending an email about your services or promotions. Let individuals know about your availability and when you’re available to show an apartment.
Once a subscriber signs up for your email newsletter, you can then send out periodic emails about new homes that are available to see. For example, you might offer inside tips on a specific neighborhood or information on how people should improve their home value with upgrades in their kitchens or bathrooms.
The key to this approach is that the person receiving your email newsletter can see your name, address, and phone number. Knowing you have a real estate business, they may think of you as a trustworthy and established individual who is always available. This can lead to more opportunities to show them their dream home.
Geo Farm a Neighborhood
Geo farm strategy in real estate involves focusing your marketing strategy on prospective clients within a particular region/area. This is an excellent technique for real estate agents who want to build their business in a particular community.
To be successful with this strategy, first determine the right area that you want to geo farm. This can be your neighborhood, town, or region where you want to build your business. Reach out to people within this region and connect with them.
Let them know that you’re a real estate agent from a particular location and help them understand how your knowledge and skills will help them buy or sell their homes.
It is important to know the average income of the people within the area of interest in geo farming. You can also note the average home value and estimate what your fees are.
You can then connect with other people who have business interests in the area and charge them a premium fee when they’re interested in buying or selling their homes.
Listing expensive properties is an essential aspect of this strategy. Helping wealthy homeowners sell their homes can help you rake in some serious cash. However, when you charge such high fees, other people in the area might notice that your premium fee is worth it.
So, you’ll have to be careful and know the market price for each home that you help sell or buy. The key here is to go into a geo farming strategy with a specific area. You’ll have a limited reach but also fewer competitors.
This approach is convenient because you can create a long-term relationship with your clients by establishing your credibility and trust within the community.
Investing your time to blog about important topics or tips in property buying or selling can help you develop a solid competitive advantage. Go to real estate conferences and seminars, which allow you to network with other agents within the industry.
You can also pick up new tips and strategies from others and incorporate them into your blog. Then as you continue your search in property buying or selling, use your blog to share your knowledge with others. Include tips on interior design, home repairs, and home buying or selling.
Write about how people in a particular area can learn more about their upcoming or sold homes. Include expert information such as an architect’s opinion about some renovations or a financial planner’s advice on home mortgages and home equity loans.
By investing time in your blog, you can build your business and expand your sphere of influence. You might also get opportunities to write guest posts for prominent industry websites. This can give you additional exposure and credibility when people read and see what you say about the market.
The bottom line, you have to have a strategic plan when getting into the real estate business. For a long time, most successful agents in the industry had similar approaches to their strategies.
By focusing on these ideas, you can quickly develop your business, increase your market share and reach more potential clients.