There are 3 pillars of Marketing that every realtor should know. As a real estate agent there are a million different hats you need to wear and one of them is staying on top of marketing your business. There are usually 3 different types of realtors out there.
Which type of REALTOR® are you?
Realtor 1: This realtor is pretty on top of their game, consistently marketing to all 3 pillars and usually has a good support team to help them with it.
Realtor 2: This realtor is usually pretty good at marketing to the 3 pillars but tends to do a marketing roller coaster throughout the year. When it is slow they amp up their marketing and when it gets busy it all falls to the wayside and then they panic when it gets slow again.
Realtor 3: This realtor doesn’t do any marketing, is afraid to spend money on marketing and wonders why they are not getting the business they want.
If you can relate to Realtor 2 or Realtor 3 then you definitely should read on…
What are the 3 Pillars of Marketing that every Real Estate Agent should know?
Pillar 1: Marketing to your Sphere – As a real estate agent, marketing and staying in touch with your sphere is uber important. Why? Because you should be getting 3-5+ leads per year from your sphere. Even if only 2 turn into a sale that is $31,895! [Median home price of $637,900 (San Diego County) at a 2.5% commission] If you are not getting 3-5 leads, most likely, these are the two reasons why. First reason, you are not doing it frequently or consistently enough. The second reason, your message may be off or you are not asking for referrals.
Pillar 2: Marketing to your Farm – When I worked as the Director of Marketing for one of the top brokerages in San Diego County we had a Top Agent Panel where the top agents answered questions to support and help the other agents in the company. When asked, “If you could only keep one form of marketing for your business, what would it be?” The response across the board was FARMING! Here is the thing with farming, if you are not reaching out to them every 21-25 days, then you are wasting your money. Farming is about consistency, relevant information and staying top-of-mind. If we use the stats from above, say you get 3-5 leads and two of them turn into sales, then that would be $31,895. Let’s say you budget $15,000 per year and every 21 days you alternate between a postcard and walking the farm you are still going to net an extra income of $16,895 per year that you were not making before. Multiply it times 2 farms and you can see where I am going with this…
Pillar 3: Meeting New People/Community Involvement – If you want to increase your sphere of influence you need to get out there, network and meet new people. What is the best way to do this? Take a minute and jot down what you LOVE to do in your spare time. Go out and find groups that also love to do these things. This is the best way to meet new people with “like interests” who you can instantly connect with.
Ideas on how to market to your sphere and farm?
- Monthly Newsletters
- Postcards
- Market Updates
- Pop-bys
- Walking the Neighborhood
- Phone Calls
- Digital Advertising
- Hand Written Letters
- Holiday Cards
- Community Events
- Client Appreciation Events
- Social Media
If you can relate to Realtor 2 or Realtor 3 above and you would like someone to help you come up with a strategy to regularly be reaching out to your sphere and farm please feel free to contact me today! I have special yearly packages I would LOVE to share with you!