January 13, 2016
The following list can be used to describe real estate agents:
What you won’t see on that list is marketing guru, and there are two main reasons why:
1. Lack of time
Real estate agents have a lot on their plate. They are responsible for catering to the needs of their clients, a labor-intensive task. Homebuyers and sellers are faced with critical decisions when buying or selling a home, or both. That requires more than a little care and attention to detail on the part of agents. It requires a great deal of understanding of the market, and the ability to hustle and be resolute when dealing on behalf of their clients. With clients as their number one priority, other things tend to fall through the cracks, e.g., branding, farming campaigns, just-sold direct mail pieces, just-listed pieces, market reports, email newsletters, and more. Not an ideal state of events, when on average 60 to 80% of business is expected to come from referrals remembering who you are. Referrals are one of the best sources of business, yet lack of time often prevents real estate agents from keeping in touch with their past clients. That’s a lot of potential commission being missed. That doesn’t even take into account lost potential revenue from clients who aren’t even aware of an agent’s existence.
2. Lack of expertise in the marketing field
Even if an agent studied marketing in college — unless they are consistently practicing it, they don’t have the necessary know-how. In order to create effective marketing campaigns, there has to be more than just the distant memory of one college course. There has to be continued learning and dedication to the art of marketing, combined with experience in the field. This doesn’t mean that agents won’t sell homes without an expert knowledge in marketing, but they won’t claim market share, and they certainly won’t be achieving their highest potential. Furthermore, one person alone can’t possess all the skills that are necessary for marketing, much less implement all the strategies successfully. Marketing is both analytical and creative. Skills that are inherently distinct, and require different talents. A team of talented and experienced people are needed for a marketing campaign to be truly impactful. Those agents looking to stand out, and be as profitable as possible, must outsource their marketing. Even brokerage firms that give a lot of support won’t provide you with the spotlight to differentiate you from the competitors. They are most interested in everyone’s collected success. It isn’t wrong on their part; they just have their own marketing tasks and goals they are looking to accomplish.
How does outsourcing to a real estate agency help? It gives agents access to highly skilled talent, all in one place, and for less than paying a semi-skilled marketing aid. The greatest level of success will come from leaving marketing to the professionals, which allows agents to focus solely on their clients.
Hiring a professional marketing agency will yield better results, which will translate into a larger outreach, added revenue, and less stress. Give us a call to find out more.