Surviving and Thriving as a Real Estate Agent: Part 3

In my last two articles, I have discussed how real estate agents can not only survive, but thrive in this challenging real estate market.  I have covered the first three points in my four point plan:

1. Develop Your Niche
2. Become An Expert in Your Field
3. Be Mobile/Adapt
4. Develop a Marketing Campaign

Today I will cover the final point: Develop a Marketing Campaign.

Once I have developed my niche and determined specifically where I am going to invest and recommend that my clients invest, I create my marketing campaign to go find the investors.  I could easily write an entire book just on marketing for real estate agents, and I look forward to sharing more articles with you in the future on this topic, but for now I will share a few brief thoughts here to put you on the fast track. The marketing materials that I use are designed to aid the investor in making an informed decision on the investment they are currently considering. 

    •    The first item in this package is the “e flyer.”  This flyer is a colorful, eye catching marketing piece that lists all the features and benefits of the potential investment in a concise, easy to understand format.  I send these flyers out to investors in the form of email blasts and their purpose is to catch the investor’s eye and encourage them to read more about the investment opportunity that I am offering.  To view an example of one of my recent investment flyers: www.viewpointequity.com/MGMFlyer.pdf
    •    The second item that I include in my marketing package is a proforma worksheet.  I have always used proformas to analyze my own investments and I find it is an excellent tool to share with my clients as they consider similar investments.  If the proforma is done well and accurately, it will not only aid the potential client in understanding the financials of the investment, but it will also build your credibility in the eyes of your customers as not just a Realtor, but a seasoned investor that actually understands the investment process.  Having actual numbers plugged into a spreadsheet gives the investor a sense of comfort with you and with the investment, and helps to eliminate the feeling of the “unknown,” especially for new investors.  All-in-all creating an informative and professional marketing package for the properties that you are looking to sell and including realistic projections and other data helps investors to accurately evaluate a deal and establishes valuable credibility for you that will result in repeat business, referrals, and client loyalty.
    •    Another tool that I use with outstanding results is my monthly newsletter.  Different than a typical “Realtor” newsletter that might feature recipes and other useful but non real estate related information, my newsletter is filled with statistics, actual deals, potential deals, education and opinions of the market in which I am currently working.  Sending this out to my database on a monthly basis allows me to stay in front of them and remind them that I am always looking for the next best deal when and if they are ready to get involved.  To see my latest newsletter: www.viewpointequity.com/newsletter.pdf
    •    My final, and perhaps most important marketing strategy, involves not what I do, but what I don’t do.  I have found that my strengths as a business person lie in my abilities to create leads, talk to clients, sell properties and negotiate deals.  My strengths do not lie in the field of internet marketing or graphic design.  Because of this, rather than spend my time working on my own e flyers and newsletters, I employ an internet marketing/graphic design firm to handle these details for me.  When I am ready to create a marketing piece, I do the overall concept management, writing, thinking, and analyzing and forward it on to my specialist for the design of the marketing materials.  Once back to me I make suggestions and changes to put the final touches on the material.  I suggest that you too spend more time on the areas in which you specialize and less time playing with graphic design programs on your own computer.  This one idea (the virtual marketing assistant) has helped me tremendously in getting more effective marketing material produced faster than I could otherwise produce myself, leaving me free to pursue sales.  If you are interested in contacting the firm that handles my marketing, you can reach them through their website: www.spiraldigitalmedia.com

If you follow these four simple steps, you will be well on your way to thriving as a real estate agent, even in a down economy.