How Business Strategy Can Help You Stand Out in Real Estate

Have you ever come across a billboard you thought was ridiculous? It may have made you chuckle a bit, or you may have thought it was corny. Regardless of your feelings, the fact that you remembered the billboard was an attempt to stand out from a business — and it did its job.

 

But doing something outlandish is not the only way to stand out in real estate. Yes, you can go the billboard route and do real estate parodies on Game of Thrones, the Lego Movie, or “Thinking about moving to Canada after the elections?” However, is that how you want local homebuyers and sellers to think of you?

 

This is where real estate business strategy comes into play. A new kind of consumer shops around and makes purchase decisions today, compared to consumers in the late 90’s and early 2000’s. Google calls them “Gen C.” They’re a generation that relies on peers (and reviews) to decide on who to use in real estate. They use those same peers to decide whether or not they will buy the house they like. They constantly seek approval and a sense of community.

 

A lot of times real estate professionals will think about how they stand out in contrast to other real estate professionals. Instead, think about how you’ll stand out against Gen C, the type of clients you’re facing today. So, let’s dive into real estate business strategy a bit.

 

Introducing Business Strategy to Stand Out

The kernel to good strategy starts with a diagnosis. If you don’t understand what’s challenging your business, then how would you define a strategy to beat it?

 

Look at your market and identify the forces working against you. Most will probably cite the recent rise of the iBuyer movement. Companies like Zillow and OpenDoor are making huge moves. Others will mention a dominate real estate team in their market. Now, simplify that “competition” and how they are presenting value to a consumer, i.e. your clients.

 

The iBuyer movement is about the ability to sell quickly and have cash in hand. It’s about reducing the work to list a house and get it sold. Now identify the downside to their value. Are clients getting the most value for their property? How can you help them there? That’s an opportunity to stand out in your real estate market

 

Good business strategy (in real estate) also involves a guiding policy and a set of corresponding actions. Think about your approach to overcoming the challenges to your business. Then, design a series of actions to accomplish this approach. The actions must be coordinated. Link them. Tie them together!

 

Good strategy explains how you, faced with competition, will achieve superior performance.

 

By crafting a business strategy that focuses on delivering a different value to clients, you have a strong foundation to stand out in real estate. And oftentimes, all you have to do is look at the competition in your industry (or market) and ask yourself “what’s the weakness?” How can you carve an opportunity from that? But again, let me remind you, stay focused on the value to the client. That is key to success in real estate.

 

Define a Value Proposition to Set Yourself Apart

When you boil it down, a value proposition is the message you communicate to potential clients. It’s the marketing message that defines who you are. It answers what kind of business you are. Most people will know you are in real estate already, but do you specialize with a particular audience, like military relocations for example? Or first-time homebuyers?

 

A well-crafted value proposition is forged from a market analysis (i.e. what does your competition communicate) and from where you envision your brand. For inspiration, think about different products you like and visit their website. Pay attention to the headlines they use. Look at the colors they use. What kind of emotions are they invoking?

 

Now, think about the emotion and value you want to invoke? How would you put that into a few sentences? How would you illustrate that with your website and logo?

 

Example: Dollar Shave Club vs Gillette

How to Stand Out with Branding

 

Further reading: Harvard Business School’s Breakdown of a Value Proposition

 

Still Not Sure How to Stand Out? Consider “Operational Effectiveness”

If you’ve looked at the competition in your real estate market, and still aren’t sure how to create a “unique” business, there’s an alternative to think about. It’s called “Operational Effectiveness.” If your business positioning leaves you in the same boat as other real estate agents, then begin examining how you can improve your processes instead. This is a small way to stand out against competition.

 

Essentially, answer: “How you can do things better than your competition?”

 

An easy way to go about this is by assessing which technologies can improve your service to clients. Do you use the best real estate CRM? Are you using integrations to better power your tasks and accountability?

 

By looking at your strategic positioning and your operational effectiveness, you have two amazing ways to define your business strategy and stand out in a crowded real estate market.


Stand Out with the Best Real Estate Software

Visit this Page for More Details


 

The post How Business Strategy Can Help You Stand Out in Real Estate appeared first on BoomTown!.

5 Tips for Standing out Against Your Real Estate Competitors

In real estate, things move fast and the competition doesn’t sleep. So, what are you doing to stand out? In order to be the go-to agent in your market, you need to be one step ahead of your top competitors. Start with these 5 quick tips.

 

Tip #1: Efficiency is Key

Inefficiency wastes time… and nobody has time for that.

  • Streamline your operations with time-saving technology (transaction management, CRM, team communication tools)
  • Time block your schedule with dedicated slots for emails, showings, lead follow up, and prospecting
  • Know your ideal customer like the back of your hand to avoid wasted time

Tip #2: Know the Industry

To stay ahead, keep a finger on the pulse of the real estate industry.

  • Stay current with industry news: Inman, RETechnology, RISMedia, local associations, etc.
  • Follow trends and shifts in technology
  • Understand the real estate industry at the local, regional, and national level
  • Attend conferences and events: franchise events, Inman Connect, BoomTown Unite, etc.

Tip #3: Adapt to Thrive

Understand that you can’t fight every trend in real estate and learn how to move with the tide, not against it.

  • Be aware of the status of iBuyers within your market. Be honest and communicative with your seller prospects about all of their options. (They will appreciate your transparency. Sellers want options!)
  • Technology is your friend! Adapt (and adopt) the tools that can maximize your efficiency and help you grow your business.

Learn how BoomTown clients are tripling their business.


Tip #4: Personalization

“Be yourself. Everyone else is already taken.” – Oscar Wilde

  • Be your most authentic self. Homebuyers appreciate a human-to-human interaction. Not only does this build trust and help you stand out against competitors, but it also gives you a leg up against more impersonal technology-based transaction processes
  • YOU are your brand. Focus on what sets you apart and turn that into your unique value proposition
  • Enhance the consumer experience with personal touches: record more videos, engage on social media and allow your personality to come through.

Tip #5: Check Your Ego at the Door!

You are in the business of people. Your job is to solve problems for homebuyers and create a better consumer experience. The most successful agents are the ones that prioritize their team and their clients over themselves.

  • Change happens. (So stop complaining and learn to work around the road bumps.)
  • It’s all about the consumer experience. There are times that you’ll have to go out of your way to go the extra mile for your clients, and it’ll be worth it!
  • Be open to learning new things, shifting your strategy, and adapting to shifts in the real estate industry or your local market.
  • Collaborate and share knowledge with other real estate professionals

The post 5 Tips for Standing out Against Your Real Estate Competitors appeared first on BoomTown!.

Elevate Your Content with High-Converting Guides

There’s that pesky word again… “content.” Now before your eyes glaze over with visions of “Top 5” articles and makeup tutorials, let me remind you that content is simply the valuable information on your website or social media platforms that you share with your prospects.

 

You likely already have some content built up in your repertoire. Maybe you blog about areas in your geographic farm, share videos on Facebook, or perhaps you’ve created a downloadable checklist for first-time homebuyers. If so, you’re ahead of the curve!

Guideception: AKA, Your Guide to Guides

Our friends Becky Babcock and Brad Nix of Path & Post, are onto something good. They’ve developed sleek, informative, and user-friendly guides that accomplish two things:

  • 1. They answer questions and solve problems for homebuyers
  • 2. They convert curious onlookers into active leads

 

 

Step 1. Define Your Target Audience

 

Guides are a great tool in real estate to get a lot of information to your prospects in a neat and compact format. But if you go too broad and try to serve everyone, your guides will lose value.

“Don’t try to be all things to all people.”

Defining your target audience can mean a few things. First, (obviously), is your geographic farm. But who, specifically, are you targetting? First-time homebuyers, luxury, retirees, secondary market beachfront buyers… get as granular as possible.

 

Becky and Brad take this one step further and they developed a DISC-profile-esque method for categorizing their clients. They break down homebuyers into 4 categories: Bull, Owl, Lamb, Tiger.

 

 

  • Bull: Straight-forward, busy, “just get it done.”
  • Owl: Spreadsheets, detail-oriented, process and facts
  • Lamb: Friendly, sensitive, nervous about the process, needs some hand-holding
  • Tiger: Eccentric, quick-decisions, distracted by “bright and shiny” features

In their case, most of their clients are Owls and Lambs. So using very detail-oriented guides is a great way to hand-hold and provide answers to all of their questions.

 


Want to Learn More About BoomTown?


Step 2. Decide on Your Content

 

Think about your market and your target audience and decide from there what content makes sense. Do you serve several cities? Neighborhoods? Area guides and neighborhood-specific PDFs are going to serve you well in this scenario. The best real estate agents operate as hyper-local experts. You want to be the “go-to” expert in your community, and an in-depth neighborhood guide is a perfect way to highlight this expertise.

Q: Can I outsource someone to write this for me?

A: Yes and no. You can outsource someone to proof/edit your writing and to design the guide/PDF for you, but you should write the content yourself. You’re the expert here… (if you’re not, *uh oh,* you should be!) so you really should be showcasing your knowledge.

Ideas for Guides:

  • City Guide
  • Neighborhood Guides
  • Guide for First-Time Homebuyers
  • Home Downsizing Guide for Retirees

 

Step 3. Optimize for SEO & Share

You don’t have to be a computer wiz to do this! SEO (search engine optimization) just means taking some steps to help boost your content in a Google search — increase your chances of getting more traffic.

Here are a few quick steps:

  • 1. Use appropriate keywords (you can check Google Trends for the most popular search terms home buyers are using)
  • Pick a strong, searchable title
  • Use keyword-friendly headings throughout the guide
  • Write a meta-description (follow these directions)

 

 

Once you’ve optimized your content, make sure they are displayed on your site and then share across all of your social media channels. Be sure to update the content as necessary with pertinent information. Informative neighborhood and city guides should never be out of date!

 

PRO TIP: Create a few guides that are “exclusive” to clients who have closed a deal. These could be extremely detailed closing guides, advice for flipping, etc.

The post Elevate Your Content with High-Converting Guides appeared first on BoomTown!.

KonMari Your Contacts – An Epic Approach to Organizing Your Database

By Lalaina Rabary

Any successful real estate agent will tell you that having a high-functioning database is key. But like clothes in a closet, contacts can pile up over time, leaving you with a disorganized and dysfunctional database.

If your database is in dire need of a makeover, tidying expert Marie Kondo offers inspiration and practical advice for tidying up. Her Netflix special, Tidying Up with Marie Kondo, and two best-selling books lay out the principles of her decluttering process, the KonMari Method™. 

Here’s how to make it work for you.