January 20, 2016
Real estate marketing is in desperate need of a major transformation. This much-needed evolution is long overdue, as real state marketing lags behind the rest of the modern marketing world. There is a logical reason for this imperative need, and we like to call it the copycat effect.
In no other industry is this phenomenon so prevalent as it is in real estate. When it comes to real estate marketing, the key strategy of many agents involves closely monitoring their competitors, so they can imitate them. Well, copying other agents is a horrendous plan of action.
What makes this copycat effect so counterproductive is the fact that with every copied piece there is a reduction in quality. Agent A copies the marketing of agent B, but does a worse job, and in many cases with negative consequences since their target audience might be very different. Then, agent C and D end up with even worse results: a case of the blind leading the blind.
Agents who make the decision to break away from the “norm” to invest in their own tailored-made marketing, have a lot of market share to gain. Breaking through the clutter of deteriorated sameness might seem challenging, but it is rather easy with the help of a professional agency.
Real estate agents willing to invest in their marketing will experience a substantial gain in awareness, leading to an increase in revenue.
Perhaps the funniest part of the copycat effect is that the majority of agents are guilty of it, but are bothered when it gets done to them. We often hear agents say, “All agents try to copy MY marketing”, only to state a few sentences later: “Can you just take their postcard and put my colors on it?”
As a reputable and experienced agency, we would never ever do a “save as” and simply change colors and information. Every agent should have a unique identity and the collateral to match it.
The real estate industry has to reset their marketing by reseting their standards. The first step is to stop copying other Realtors who don’t understand marketing anymore than the next Realtor. For those who are looking to break away from this vicious circle, we’d like to help.