11 Tips to Optimize Your Real Estate Marketing Plan

Why A Real Estate Agent Needs A Marketing Plan, and Tips for Your Marketing Success

As a real estate agent, you have only one purpose: to transform marketing strategies into money.

But the worst part is that every day that you do not implement a marketing strategy, or fail to yield results, you lose money.  With that said, you need a real estate marketing plan that is effective to achieve success as a real estate agent.

Marketing is the process of creating and delivering value to customers while managing relationships with the public, prospects, customers, and the public at large.

Additionally, marketing creates public awareness, brand recognition and positions yourself as a real estate agent in the marketplace.

A Real Estate Agent SalaryThe first step to increase your real estate agent salary is by determining your goals for the year. It is crucial to know how much money you want to make and how many deals you need to close to achieve that goal to determine the marketing strategies and tactics that will get you there.

Unfortunately, the term marketing gets thrown around so loosely in real estate that many agents don’t even know what it means exactly.

What Is A Real Estate Marketing Plan?

A Real Estate Agent SalaryA real estate marketing plan is a report that establishes the annual sales goals by setting up a budget, target audience, marketing, advertising, and other tactics to expand the business.

One of the main goals of a real estate marketing plan is to strengthen the unique value proposition to design strategies that other market agents are not.

It lets you differentiate from the competition by recording what works best and improving those weak areas. A marketing plan is an ideal tool to increase your real estate agent salary.

An effective plan must include:

1. Have an Advertising Plan

A real estate agent should develop their marketing plan with their customers plainly in mind, and the agent should also detail exactly how they will sell their service.

Many people do not know that advertising is the part of the marketing plan that promotes your real estate service with the sole purpose of generating revenue.  Many real estate agents are fixated on marketing and wonder why they’re not making any sales.

One of the reasons is because they are failing to make an advertising plan that brings in revenue. Use advertising to help create healthy consumers who are more informed, better educated, and more demanding of your service.

It is essential to think of the advertisement plan as your guide to promote your business. A practical method must determine who your targets are, how to reach them, and what you need to do.

Remember, when you’re advertising your business, you must focus on the key differentiators. In simple words, real estate agent positioning is the primary factor that separates you from other agents.

A Real Estate Agent Salary

2. Real Estate Agent Positioning

An essential element of the marketing plan is to establish your real estate agent positioning.  Positioning is the method to determine the place or niche you occupy in a market.

Without a clear description of your value and target audience, it is impossible to create a successful marketing plan. Remember, an inconsistent brand is an effective one.

The main goal of positioning is to create a branding and to manufacture a specific impression on your targeted market segment.  Please note that successful positioning always works toward a specific target segment.

The ideal outcome of your marketing efforts is to stand out from your competitors.  In real estate, this means sending a potent message about what you bring to the table that nobody else can.

You must know your target market segment because without a clear description of your value and target audience, it is impossible to create a successful marketing plan. Remember, an inconsistent brand is an effective one.

Real estate agents can use different types of positioning strategies to differentiate themselves from the competition. Some of the most common ones are:

  • Product Attribute
  • Price/Quality
  • Use/Application
  • Service Class
  • Product User
  • The Blue Ocean Strategy

 

🔑Differentiation is closely related to positioning.  Real estate agents’ strategy to make their services or products stand out from their competitors by proving unique value to the customer.

a real estate agent salaryPlease take a look at the real estate flyer on the left, for example, and notice how the real estate agent uses both positioning strategies, creating value by saying that she offers the lowest commission price. She is making the perception that she is the number one real estate agent in San Diego.  Again, it is very apparent that this salesperson created her real estate marketing plan with her clients in mind, and you can bet that a real estate agent’s salary will see growth using this tactic.

A Real Estate Agent Salary

3. IMC

IMC stands for integrated marketing communications. It means that all of your advertising and marketing on different platforms and through various mediums carry the same message, slogan, and tag lines so that each one supports the other form of marketing.

People consume advertising and marketing through different mediums, so it is vital to integrate the same marketing message yet be flexible across platforms and mediums to reach your audience. This is where you begin positioning yourself with the custom tagline that puts you in the category by yourself as the number one real estate agent or as an authority.  Additionally, IMC  is a cost effective method of marketing that gives you a large presence in the real estate industry.

When you treat marketing and advertising as separate areas, it restricts communication and reduces efficiency. An IMC approach makes sure that all channels are aligned and following the same tactics and goals to increase your real estate agent salary.  To learn more, watch the video below.

4. Local SEO

Local SEO is a search engine optimization that supports local businesses rank in local searches on search engines, such as Google and Bing so that potential customers can find your place in your demographic area. For example, “Real Estate Agents Near Me” or “The Best Real Estate Agent in Chicago.”

If you do not have a website, make one immediately.  Keep in mind that when people want to search for a real estate agent, they will probably go online.

Additionally, when somebody searches for real estate agents, you want to have your name pop up so that you are easy to find.

Having a local SEO strategy and a website is crucial because you want to be ranked on search engines’ front pages. For people to find your services, you need links directing other people to your website.

Nobody will find you when they do an internet search if you do not pop up on Google’s first page.

 

5. Offer Free Home Appraisals

Believe it or not, people out there are considering selling their house, but they do not know how much they can get for their property.

Many people think they will get much less money than the reality when they can make a lot of money if they sell, providing the necessary motivation to sell.

Another terrific way to position as a real estate agent is to offer a free home evaluation. When you offer something free can help you differentiate from other agents in a saturated real estate market.

It is imperative to put “FREE” on your ads and marketing campaigns to make potential customers want to work with you, and this way, you can increase your real estate agent salary.

When you give a free home evaluation is an easy way for you to get your foot in the door of someone’s house to sell it.

Sadly, real estate agents have a reputation for being greedy and out for themselves, and you can stand out from the crowd by offering something for free.

Providing value makes the public warm up and open up to you because you will break the mold and probably be the only real estate agent offering something for free.

A Real Estate Agent Salary

6. Relationship Marketing

Other people are your most fantastic resource, and as a real estate agent, your overriding purpose should be to create happy and loyal customers.

Customers are the lifeblood of any business. This realization has moved firms away from simple transactional marketing to relationship marketing, which is: creating, maintaining, and enhancing long-term relationships with customers that result in the exchange of information and other things of mutual value.

Relationship marketing is essential for many reasons, one of which is the cost of acquiring new customers, which can be very expensive. It is more cost-effective to invest in your current relationships to maintain them than reach new customers.

It costs 5-8 times as much in marketing, advertising, and promotion to acquire a new customer than it does to keep an existing one.

When you encourage a relationship marketing strategy, you increase your real estate agent salary as you have more returning loyal customers while attracting new client contacts.

A Real Estate Agent Salary Begins With a Real Estate Marketing Plan

Finally, you must understand that a real estate agent’s salary begins with a real estate marketing plan.

Consider that every successful business, including real estate agents, must-have a marketing plan. Part of the real estate marketing plan includes the real estate agent advertising plan.

A real estate agent’s salary dramatically depends on how well the real estate agent markets themselves, advertises their services, and how well the public responds to the agent’s strategies.

7. Create Real Estate Agency Relationships

a real estate agent salaryAccording to Arens Weigold, author of Advertising, “People naturally want to buy from the salespeople they like and trust.”  Creating real estate agency relationships is essential for a magnitude of reasons, the first, and primal, reason is because other people are our greatest resource as we cannot merely survive without them.  Now compare the thought of how hard it would be to survive in isolation to trying to achieve success as a real estate agent without any real estate agency relationships, prospects, clientele, or connections.  One benefit of creating real estate agency relationships is the idea that if you encounter a fellow licensee, who is experiencing success as a real estate agent, then there is a possibility that they would let you host one of their open houses, which would expose you to prospects, give you an opportunity to distribute your marketing materials, and increase your chances to achieve success as a real estate agent.  Creating relationships should be part of your real estate marketing plan because simply put, you cannot make money as a real estate agent, or any profession, without the involvement of other people.  As Ben Sein once mentioned, “Personal relationships are the fertile soil from which all advancement, all success, all achievement in real life grows.”  Real estate relies on communication and, the more relationships you have, the higher your probability will be of achieving success as a real estate agent.  

A Real Estate Agent Salary

8. Have a Social Media Marketing Plan

A successful real estate agent should have a social media marketing strategy. Social media marketing is the most cost-effective form of marketing. Additionally, you can build a following, maintain communication and relationships easier to communicate updates efficiently.

It is essential to keep in mind that although the number of “follows,” “likes,” and “shares” are vital, the credibility of your brand goes beyond this. Choose social media marketing goals that align with your business objectives.

You want to be on social media to increase brand awareness, drive traffic to your website, generate new leads, and grow revenue. Make sure to figure out who is your target audience. It is imperative to know who they are, what they are interested in, and how you can help them.

A Real Estate Agent Salary

9. Host Open Houses (Tips Below!)

A real estate agent salaryA crucial part of a real estate marketing plan is to hold open houses.  It is a terrific idea to hold as many open houses as you possibly can. Keep in mind that to secure more open houses, you must build real estate agency relationships and ask if anybody has any open houses for you or leads for open houses.

Please note that there are agents who have more business than they can handle and need someone to assist with their demand by hosting open houses for them. You can also reach out to brokers and ask them if they can put you in contact with any other successful real estate agents.

When you do open houses, you can contact many prospects, and it is possible to secure a clientele base that you can grow. Don’t forget to get the contact information to keep in touch with everyone that you meet at the event.

One bright idea to make yourself memorable is to write an ebook full of valuable content and offer it for free. You can place a free download link on your website and tell prospects to visit your site to get the information.

Don’t forget to add this lead magnet on your business cards to encourage people to download your free ebook and subscribe to your list.

Once you get their email information, make sure to contact them frequently by providing essential tips about real estate. You can assume that if they have to download the ebook and subscribe to your list, they are qualified buyers, so make sure to ask for a gathering.

A Real Estate Agent Salary

10. E-Newsletter

If you want to maintain credibility and increase your reputation, it is essential to consistently contact your prospects and customers. A great way to do it is to send a weekly, bi-weekly, or monthly e-newsletter providing information about you, properties, and others in your company.

It is also an excellent idea to offer valuable tips, articles, and other helpful information for prospects and customers. Make sure also to communicate special offers, for example, an advertisement of a lowered commission rate.

11. Market Segmentation/Niche Marketing

If you want to create a successful real estate marketing plan, you need to choose a market segment to target and focus your advertising and marketing efforts on that specific segment.

Please note that if you are trying to target the entire market, you won’t attract any of it, so find a specific segment point to focus on.

Market segmentation transforms existing audiences into smaller and more specialized groups of customers.  Doing this allows you to provide more relevant information to increase your real estate salary by targeting higher-value potential clients.

It is important to specialize in a niche market because what you are doing is positioning yourself, through advertising, marketing, public reputation and branding, in a market where you can be found by consumers who are looking for the realty service that you provide.   An effective real estate marketing plan will maximize customer relevancy and position your real estate business where your services can be found by those who need them. 

By trying to target the entire real estate market, you will fail to attract any of it. 

 

Four Essential Components Of A Real Estate Marketing Plan

If you want a successful real estate plan, you need to make sure it includes four key components:

1. Consistency

An important reason to develop consistent branding and marketing is establishing awareness and credibility. Remember that customers are more likely to buy from a real estate agent they recognize for their consistent image and content schedule.

The key to consistency is to expose your target audience to the same core messages repeatedly. Why? Because the more consistent your advertisement is, the more credible your brand is.

🔑Be mindful that just because one advertisement, or marketing strategy, worked in one place doesn’t mean that it will work in another.

2. Repetition

Unfortunately, prospects don’t have a good memory, especially in today’s world with mass media communications and all the advertising and marketing we encounter.

It is vital to continue marketing and advertising daily to see results.

Repetitive advertising also provides constant reinforcement for your name and brand and maintains your message in prospects, creating brand loyalty.

3. Market Segmentation/Niche Market

If you want to create a successful real estate marketing plan, you need to choose a market segment to target and focus your advertising and marketing efforts on that specific segment.

Please note that if you are trying to target the entire market, you won’t attract any of it, so find a specific segment point to focus on.

Market segmentation transforms existing audiences into smaller and more specialized groups of customers.  Market segmentation allows you to provide more relevant information to increase your real estate salary by targeting higher-value potential clients.

It is important to specialize in a niche market because what you are doing is positioning yourself, through advertising, marketing, public reputation and branding, in a market where you can be found by consumers who are looking for the realty service that you provide.   An effective real estate marketing plan will maximize customer relevancy and position your real estate business where your services can be found by those who need them. 

By trying to target the entire real estate market, you will fail to attract any of it. 

As Benjamin Franklin once said, “By failing to prepare, you are preparing to fail.”  In other  words,  goal without a plan is just a wish.  If you want to be a successful real estate agent, and start earning a good real estate agent salary, then invest the time and effort it takes to create a real estate marketing plan.

Action Step:

  • Get a professional website made, not one created by your brokerage firm.
  • Brainstorm taglines, slogans, and points of differentiation that separates your from your rivals.
  • Optimize your local SEO so that you appear #1 on Google.
  • Identify your target market segment
  • Begin Strategizing your IMC, social media marketing, and advertising plan.
  • Plant seeds for fruitful relationships.

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