Real Estate Marketing Strategies to Expand Your Business

The real estate market is one of the most competitive in the country. Millions of licensed realtors are battling it out for the best property, meaning it’s often hard to get a foothold in as a newly established real estate business.

Given how important experience is in the real estate market, going in as a new business is often a daunting prospect. Many questions how it’s even possible to compete with the established businesses that already control much of the market.

Thankfully, any real estate business has the potential to grow. It requires a lot of hard work, a slice of good fortune, and the right marketing strategies to get there. Check out some marketing strategy tips below to help expand your real estate business:

 

Identify Your Target Market

It always helps to target a real estate market for your business. This allows you to established goals for this market, such as targeting an up and coming neighbourhood that has the potential for serious growth, along with doing suitable research to make sure you know everything about your target market. 

There are unique aspects to every real estate market, so by identifying your target market, you can focus your knowledge and expertise in this specific area, keeping up with any trends that influence the market.

 

Networking

Networking is a vital component of the real estate market, as knowing the right people can make a huge difference in your success. After all, real estate involves many different people working together with buyers, sellers, contractors, attorneys, and escrow agents just a few of the involved parties.

Real estate networking events are a great place for a newer business while taking advantage of tools such as social media, scheduling, and reminders can help develop your networking capabilities.

It’s important to diversify your networking as much as possible, as this increases the chances of meeting the different people that can help your business succeed and expand.

 

Use the Right Tools

There are important tools for any trade and the real estate market is no different.

 In most cases, this involves using software that helps with the day to day management of your real estate business. Estate agents have countless tasks and responsibilities, so by using the right tools, you can offset some of the work to free up your time and reduce errors.

For example, an investment property calculator is an invaluable tool for any real estate business. This allows you to automate various calculations involved in real estate to save time and effort while providing useful data to make better investment decisions.

You can get accurate estimates on a wide variety of data using an investment property calculator, such as cash flow, occupancy rate, rental income etc. Knowing this info gives better insight into the local real estate market, how to best market it, and how to get a good return on investment from it.

 

Email Leads

Email is a simple yet effective approach to finding and securing new leads. This is especially useful for getting those undecided leads, keeping you fresh in their thoughts and giving the opportunity to showcase the value you can offer them as an estate agent.

Quality emails can also be a deciding factor for prospective clients, as regularly providing emails with good content, deals, and CTAs ensure you are always in the running for their business. It’s an old-fashioned approach but one still worthwhile today!

 

Create a Good Website

Any new real estate business looking to succeed needs to have a good website - it’s one of the most powerful marketing tools at your disposal. This is not just a place for people to find your services, but to provide detailed information on your listings that can help sell the property.

 

The website should be responsive, mobile friendly, and easy to navigate. Quality content is also important for a real estate website so be sure to include engaging copy and additional content such as blogs.

 

Take Advantage of Social Media

Social media marketing is important for any real estate business. Not only can you generate leads but also use it network with colleagues and engage with your clients, helping maintain good customer satisfaction.

 

Moreover, social media is a great way to market properties. You can upload high-quality images of listings along with other useful information to drum up interest. Millennials are particularly fond of social media and represent one of the largest demographics on the market - make sure you are catering to this!

 

Buy and Sell Investment Property

Investment property allows a real estate business to expand at a manageable pace. For instance, once you buy your first investment property you can rent it out and reinvest the money towards a second property.

This can be repeated to constantly add a new property to your portfolio, with rental income giving the capital needed for a down payment on a new investment property. The more property the more income generated, which can be used to further expand the business. Mortgage calculators such as the one from Rightswitch allow you to calculate what kind of repayments you would be looking at, along with how long before the property is paid off.

Don’t forget to sell these investment properties when the opportunity presents itself. Income properties help generate money, so if you get the chance to sell at a good price and make more money, don’t feel too attached - sell up to increase those profits!

Better still, selling an investment property for a good profit allows you to buy an even better investment property with higher rental income yields. There are few better ways to market a business than growing it’s revenue through shrewd investments

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