As a real estate agent, it can feel like there’s a plethora of marketing & advertising channels available. Mail outs, Google Adwords, Zillow, Yellowpages.com, Facebook, billboards…. the possibilities are endless.
The only problem? As consumers are hit with more and more ads – it becomes easier to ignore them. The media landscape has become so crowded, that getting your voice heard above the noise is increasingly difficult. Not to mention, managing advertisements across so many different platforms can be a headache for any agent.
There’s no magic bullet advertising solution that guarantees success. No Facebook ad, Zillow profile or billboard can catapult your business. While they’re all great tools to have in your arsenal – in real estate we grow our business through relationships. And our connections with past clients and professional contacts is how we grow our client list in a sustainable, scalable way.
So, what’s an agent to do?
Stay Connected with Past Clients
For agents in business 16 plus years, 41% of their business comes from repeat clients while another 20% comes from referrals. Moral of the story? By staying in touch with past clients, you can save money on advertising and create a self-replicating sales funnel.
Add Value After Closing
Staying in touch isn’t enough though. As a REALTOR – your expertise includes the entire real estate cycle and not just getting to the closing table. Add value after closing by sharing home maintenance tips, market updates or by recommending your list of trades professionals to help clients with their home.
Strengthen Relationships with Professional Contacts
Your professional network – like lawyers, mortgage brokers, home stagers & trades professionals are all so important for showing clients your position in the market and showcasing your reputation.
Engage in Referral Reciprocity
With a strong professional network, these individuals are strategic partners for growing your business. By referring clients to lawyers, mortgage specialists, contractors and other contacts, you’ll benefit from referral reciprocity and have them send referrals.
At the end of the day, research has proven that the most trusted form of advertising is recommendations from people you know. So by focusing on your sphere of influence, you can feel confident that your advertising time & money is well spent.