Blog Post
Blog Post
To succeed in real estate, understand the game, know your ideal client, build a vast database, create tailored content, and consistently engage. Importantly, know your numbers for strategic planning. Implementing these steps ensures real estate business growth and profitability.
Attention = Money
When it comes to real estate marketing, the game is very simple.
Get attention. Keep it.
You do this and you will grow.
So how do you do it?
You’ve been asking yourself how you can sell more houses and or how you can recruit more agents. I’m challenging you to ask a different question.
“How can I build a media company?”
A media company is an organization that operates in the field of mass communication, producing and distributing content to a wide audience through various channels.
I know that nobody told you this in real estate school but the best real estate agents are also the best marketers.
If you can be good at marketing, and then sales, you will get a chance to be the good agent everyone knows you to be.
So, here’s how you build a media company in real estate so you can sell more houses:
If you focus on getting more people to know, like, and trust you then selling more houses is a natural byproduct because it’s “what you do."
The more people that know you = more homes sold.
Attention then is your new currency.
You can travel all over the world and you can buy a thousand marketing books and they will all tell you that you need to identify your ideal client.
Remember this quote, “the person that works with everyone works with no one.”
By identifying your ideal customer, you can start to develop your brand as a specialist in your local market.
If you click here you can access a simple Google Doc I put together to help you identify who your ideal client is.
When you know who you are marketing to, it makes it really easy to identify what steps you should and shouldn’t take to grow your business.
Namely, because you know where this person is and how to get in front of them.
Your database is the single most valuable asset in your real estate business. By leveraging the different strategies available to you to generate new leads every day, the value of this database grows daily.
If you look at a traditional media company like Apple or Disney, what makes them so valuable is that they can send a single email to millions of people and generate revenue for new products or services.
You can do the same thing.
By having a large database of buyers and sellers in your market, you put yourself in a position to send an email to an engaged audience ready to buy from you (or your vendors 🤑).
The larger the database, the more valuable your business becomes. NEVER FORGET THIS.
Target your ideal clients with ads that give them opportunities to become a lead in your database.
When you know who your target audience is in business you then know what they are interested in learning about. It goes beyond houses.
That’s why Kyle Whissel was able to become the #1 team in San Diego County in less than two years talking about restaurants (even though he sells houses).
People buy approximately 3 houses in their lifetime yet they will refer an average of two people looking to buy or sell a home annually. If you can keep their attention, you will be the beneficiary.
People want to know how to live in and experience the community they live in every day and they think most agents are the experts. Lean in!
Create content about your community. This gives you a reason to talk to your audience every single day about things outside of real estate.
You can then distribute your content socially and in email to add value to the people you’re connected to.
Business happens on the phone. Period.
Pick up the phone and talk to people….for no reason.
Engaging with people every day will deepen the relationship you have and ultimately help you do two things:
You don’t have to call people and talk about real estate. You could call them to talk about sports, love, politics, how dumb your cousin is, anything.
This game is simple. People are hard.
Don’t overcomplicate this. You don’t need a script to be a human being. Almost every single conversation you end up in will likely land on real estate. Just take an interest in people’s lives and I think you will be blown away at what happens to your business.
If you buy leads and you know that you can get leads for $5 and you know that out of 100 leads, you will convert one of them then you know that your Cost Per Closing is $500.
Most real estate agents will net more than this but let’s say you earn $5,000 in net commission from that one client.
That means that you got a 5X Return on Ad Spend (ROAS).
How often would you spend $500 on ads if you knew it would bring you a $5,000 commission check?
Simple. Every day.
It doesn’t matter if you break your business down by:
Calls made
Doors knocked
Ad dollars spent
Open Houses hosted
Number of social media posts made
KNOW. THE. NUMBERS.
You can predict your future if you do.
Know the game you’re playing
Know your ideal client
Build a large database
Create content for those people
Talk to those people
Know your numbers
If you can do these few things you will build the largest, most successful, and most profitable business in your local area. I promise.
It’s not about having good intentions–it’s about taking good action. Put this simple plan into place ASAP.
I want to see you at #1.
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