Competition is reaching record levels in the real estate market. Home prices are up more than 13% year-over-year, and inventory is down 18%. Low mortgage rates have created a buying frenzy, and consumers and investors alike have been rushing to cash in on opportunities.
Technology has had an impact on the role of the real estate agent. Homebuyers often start their searches online, so the 3 million brokers and agents in the U.S. need to work even harder to distinguish themselves from competitors. Making creative and innovative marketing a critical part of a real estate agent's business plan.
Today's Agents and Brokers Must Be Masterful Marketers
At one point in time, having a professional website, Facebook page, and email list was enough to make a real estate broker stand out. But, in an increasingly cluttered and competitive market (including FSBO), means building a brand reputation for yourself is more complex.
Here are some of the latest ways agents and brokers are using creative marketing to reach consumers:
- Community networking has become more challenging during the pandemic. So, savvy real estate professionals have upped their Zoom and social media game (including Clubhouse), making a name for themselves in the virtual world.
- Drone video and virtual staging are just two ways smart agents and brokers use technology to make the homes they're selling more appealing to online house hunters.
- Expert brokers and agents are using data visualization to draw the reader in with compelling facts and stats. Especially if they are looking to establish their expertise in a particular community or type of property to build trust with buyers and investors.
- Email marketing is still a highly effective way to stay top-of-mind with past clients and future ones. Despite the dominance of digital media, traditional forms like postcards are still a great way to stand out.
As important as the marketing tactics themselves, your own personal branding and the service you deliver are crucial for connecting with your customer. Further, pinpointing a customer niche or home type in which you want to specialize makes connecting with like-minded customers easier. Although you probably won't turn down any new customer or listing, focusing your efforts on a specific type of buyer/seller or neighborhood will enable you to be a true expert in your field. Buyers and sellers want to work with trusted experts, and being niche-focused can lead to that.
Find the Deals Your Clients Are Looking For
Everything outlined above is meaningless unless you have available inventory to present to your client. That's where research is key, enabling you to get listings faster and unearth off-market properties.
Having a source for finding off-market deals can be a terrific way to give agents and brokers a leg up with prospective clients. If your clients believe that you have access to properties that other professionals don't, they will be more loyal to you. Real estate platforms like Propstream are a great way to find those deals before anyone else identifies them. Then, you can use tools like our skip-tracing software to reach homeowners and get the best listings ahead of competitors.
With PropStream's financial and situational filters, you can build a stead inventory of off-market properties. This is especially true in the current market with so many tired landlords with built-up equity and stress from the pandemic. These tired landlords could be looking to cut their losses, and you'll have plenty of opportunities to offer record prices and a quick sale.
Propstream-Powered Research, Creative Marketing, and Great Customer Service Seal the Deals
In short, knowledge of neighborhoods and new-to-market or off-market properties, effective marketing, and intimate knowledge of renovation costs and mortgage deals will help make you an invaluable asset to clients. And you can have all this information at your fingers with a great real estate data tool.
In a hot market, one timeless truth holds especially true: Great service is always memorable. Where that great service is delivered with speed and responsiveness by technological tools that allow you to be the best listing agent in your zip code.