4 Marketing Tips to Jump Start your Real Estate Career
1) Predictive Technology
Finding prospective clients in today’s market has become more competitive than ever and tech-savvy agents are finding a way to stay ahead of the game by predicting which homeowners are likely to sell. Buying data subscriptions and purchasing predictive leads from websites like My Listings Agent and Smartzip promise agents a scientifically proven way to find prospective clients by using big data and predictive analytics. James Craig, CEO & co-founder of My Listings Agent, says they use big data to create a “Listing Score” for each home that shows how likely that owner is to sell.
Some real estate tech companies are using more traditional outlets of data to to generate leads. Scanning obituaries for leads has long been a tactic of up-and-coming real-estate agents looking for an alternative way to generate business, and today, the practice is getting a 21st-century makeover.
Major life events such as marriage, divorce, and death frequently entail a home purchase or sale—and new businesses have found innovative ways to use these public records for real estate marketing. Morry Eghbal, a co-founder of the website Successors Data (briefly known as ObituaryLeads.com), says the 1-year-old company, based in Rancho Cucamonga, Calif., already has 1,000 paid subscribers at $99 a month. Along with scanning obituary records, Successors Data searches the records of title companies for estates of deceased homeowners that are likely to enter the probate-court process.
How it Helps: Use predictive technology to generate high quality micro-targeted leads. Big data and predictive analytics is still relatively new to real estate which ensures you a competitive advantage over other agents for the foreseeable future.
2) Go Out and Walk the Neighborhood!
I can’t stress this point enough when I talk to new agents. While technology is a necessary and growing component of your real estate business it is not the ONLY component. The traditional approach to find prospective clients, that being interpersonal contact, still remains one of the most effective ways to generate new business as a real estate agent.
So go out and walk! Knock on doors, leave flyers, etc. As mentioned above, predictive technology now allows agents to identify which homeowners in the neighborhood are most likely to sell, so instead of sending prospective clients a postcard in the mail go out and visit them instead!
How It Helps: With the advent of technology, interacting with prospective clients face to face has gone by the wayside. Agents report walking neighborhoods and visiting prospective clients in person as the most effective way to generate new business.
2) Be Mobile and Respond ASAP
Mobile is now in the majority. Sixty-six percent of emails are opened on a phone or tablet. Facebook has more than 650 million daily active users on mobile devices. And mobile traffic to websites now accounts for almost 30 percent of visits. Simply put, mobile devices continue to grow in popularity while computer use remains on the decline.
Competent use of mobile technology is also important in terms of how responsive you can be as a real estate agent. With mobile devices you can respond to the inquiries of prospective clients almost instantaneously, – so respond ASAP, before another agent does first!
How It Helps: Being mobile-friendly provides a positive first impression to prospective clients and will allow you to be more responsive in your real estate business.
3) Automate your Marketing
Sending an online newsletter or sharing content across a variety of social networks should no longer be a manual process for real estate agents. Marketing services such as Corefact and Sharper Agent will allow you to automate both your direct mail and online marketing campaigns, go ahead and check em out!
How It Helps: Automating your marketing helps free up your time and will allow you to be more efficient in your real estate business.
4) Avoid Zillow/Trulia
Paying for leads from these websites is expensive and simply doesn’t work. On average, agents spend $320 per month on leads from Zillow, and it’s estimated that leads from these websites convert to new business only one to four percent of the time. Not the best use of your marketing dollars.
Zillow and Trulia provide a service that many casual home shoppers want: a consolidated list of available homes for sale in a centralized location. However, most agents (with good reason) don’t like the idea of their listings being submitted to these services only to then have to pay to be featured as the listing agent. And we don’t blame them.
How It Helps: Spending your money on mass online marketing is expensive, over-saturated, and ineffective. Instead, use predictive technology to obtain leads at a fraction of the cost and start spending your marketing dollars smarter.