On the surface, it might seem simple for a real estate broker to attract more clients. Now-a-days, we have social media, Google, digital advertising and the Internet in general — there are a TON of ways that potential clients can find a real estate broker. But on the contrary, all of this accessibility just makes the market more competitive for brokers. Think beyond just the Google search rankings. So, the real question is, how can a real estate broker attract more clients in a saturated market?
Equip your agents with the ability to attract clients
Clients, for the most part, choose to use your real estate brokerage because of a specific real estate agent. It’s the relationship and connection with the agent that usually attracts a new client, so we need to start there. It’s important that you equip your agents with the ability to attract clients, and that means the proper education, training, preparation and technology.
First of all, ensure that your agents are prepared for what to do when leads come in. This should be a dialed-in process so that your agents can turn that lead into a new client easily. Train them on the skills they need for appointment preparation including a full understanding of the current market, how to prepare clients and understand their expectations. And lastly, don’t downplay the importance of up-to-date technology and clear communication between your agents and clients.
Use social media and its tools consistently
Social media is one of the most effective ways of attracting clients, especially for brokers who are zeroing in on the target buying population: millennials. The largest population of homebuyers for the past few years grew up surrounded by technology from social media to the Internet. Platforms like YouTube, Instagram and TikTok have incredible video platform capabilities with the ability to reach hundreds and thousands of potential clients in seconds. The cool thing about social media is that potential clients can find your business by searching something as simple as a hashtag, location or by just being curious and viewing real estate videos.
In fact, some of the best real estate YouTube channels have millions of subscribers garnering hundreds of thousands of views. If we go back to the impact of the COVID-19 pandemic, video played a huge role in the real estate industry when it came to marketing and open houses. And today, it’s still hugely beneficial especially when coupled with hashtags that potential clients can search. One of the newer platforms, TikTok, focuses entirely on video clips, which sits well with the real estate industry. Inman created a TikTok Handbook, which provides some great tips for how to use the platform to reach new clients. Tips range from remaining consistent to strategy and hashtag use. While it’s important for you to train your realtors on how to properly use social media and the best practices, brokers also need to use it consistently to help attract new clientele.
Set your brokerage apart by branding and offerings
Existing types of brokerages continue to expand from the traditional model to alternative ones like digital and iBuyes. With so many options available, your brokerage must offer something special to set itself apart and attract new clients. One example is Red Door Agency, which just celebrated its two-year anniversary this month. Many businesses clearly struggled to find success in 2020 and the COVID-19 pandemic, but Red Door found much success even earning local awards for the best real estate firm. As a boutique firm, Red Door offered “Main Street USA” strategy, as it’s locally owned and operated to give clients a unique hometown experience.
Even if you operate a more traditional business, you do need to find ways to set your brokerage apart. Incorporate new technologies or trends to attract new clients. Consider a strong social media strategy or adopt digital transaction tools that offer a more streamlined homebuying experience. If you have the capability, you could utilize blockchain technology to speed up the purchasing process. Brainstorm with your team to consistently find news ways to offer added value to your clients.
Invest in the clients you already have
It may not have been at the top of your list, but in order to attract more clients, you’ve got to take care of the ones you already have. The National Association of Realtors found that a whopping 91% of homebuyers would either use their agent again or recommend their agent to others. As the broker, if your agents provide a solid experience, statistics prove there’s a good chance the client will use them again or make a recommendation to a friend or family member.
Focus on past or current clients who could make a referral — even consider offering a benefit for those who do. Some brokerages offer referral fees, or even adjust their commission percentage for a client who makes a referral. On that same note, if you turn to past clients, how many of them are either in the market for a new home or considering selling their current one? With the percentage of clients who would use the same realtor so high, it should be an important part of your strategy to circle back to previous clients.
Have a solid lead generation in place to support agents
For many real estate agents, and new ones to be specific, finding leads can be challenging. Oftentimes, for brokers to attract new clients, they need their realtors to be doing a solid job at attracting them as well. Consider what lead generation tactics your business has in place and whether or not your agents are actually making headway. Even if you’re not in the business of handing out leads to your agents, it’s important that you provide them with the lead generation tech and CRM that they need to be an attractive option to potential clients.
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