You know that gut feeling you have when considering a big purchase. The decision you make to go with an expert is usually our default. But, why? Why do most people spend their hard-earned money to have the comfort of "expertise"? And what do you as a realtor need to do in order to create that "expert" reputation and a nice career.
Mistake number 1 | finding a niche
The majority of folks with a real estate license sell everything and anything that people can call a residence. Take a look. Most agents market themselves as a realtor. That's it.
But, as a realtor, you need to have a niche. You need to become a recognized expert in a specific area of expertise. Then, the lead development will reverse itself.
Focus on a single area of real estate and become known as the leader in the area. It's that simple.
Mistake number 2 | your brand
If you are going to make a name for yourself as a realtor, you will need more than just good customer service. You are going to need to stamp the brain of every person that you come in contact with two thing: who you are and how you can help them.
Once you have a niche, you are going to have to focus on creating a visual identity that you consistently reinforce. For instance, if you are going to the "The West Valley's New Home Specialist," then your branding should reflect that. Your website, business cards, letterhead and marketing materials need to be congruent and easy to understand. Most importantly, they need to stand out from your competition.
Mistake number 3 | your firm's brand
Believe it or not, even though big branded firms cost more, you need to do your research as to what each firm actually provides. I would highly recommend using an established brand. This will instantly give you credibility and your clients will instantly trust you. This is where most agents miss the boat, thinking that a low-cost brokerage will save them money.
The reality is that a cheap broker can cost you money. Just like anything else in this world, you have to give to get. If the fees are higher, you need to be sure you are getting help, leverage and training in return. The best brokerages invest in their team because, at the end of the day, the more you produce, the more they will make. Pretty simple.
For an easy example, check out ReMax Preferred Choice. They offer every new agent a complete branding package, coupled with a multitude of lead generating, brand building tools.
Mistake number 4 | marketing
Very few agents leverage relationships, time and effort necessary to truly market themselves. I can count on one hand the number of agents I have dealt with in the past five years that send newsletters, do blog posts and send "thank you" cards. Even fewer who keep in contact with previous clients.
Your time needs to be allocated weekly to work on your business, not just in it.
Mistake number 5 | marketing your offerings
Why is it that 99% of homes on MLS blend together? Go online and browse for a few hours. Go ahead, I'll wait. Try to remember each distinct one. Why are the description's lackluster and the photos so hoaky? Why isn't the time being invested here by the "experts"? Why is it that tools like the ones offered by RMPC are simply not used?
My best guess? I think that the pressure to generate leads and closings forces a lack of individualized thinking among realtors. But, you need to put forward the extra effort here. Remember, each home will speak to a unique group of people. So, each home needs to be directly marketed to a precise target market. It is important you recognize that each home is a representation of who you are as a listing agent.
So, take the time. Invest your best efforts into each home you touch. Over time, your niche will grow within the right firm. Your branding will stick with people. For all the right reasons. I promise.
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