March is Marketing and Branding Month here at Inman. As we enter spring selling season, let’s explore which tried-and-true tactics and cutting-edge innovations are getting deals done in today’s market. We’ll also recognize the industry’s marketing and branding leaders with Inman’s Marketing All-Star Awards.
In today’s market driven by AI search, short-form video marketing, and shifting consumer expectations, effective branding is the cornerstone of building a thriving real estate business.
If you rely only on your name, logo and tagline, your brand is already drowning in a sea of online and offline noise. When you’re ready to generate more leads and increase your market share, it’s time to reboot your marketing with a more effective brand.
Why your name is the least effective way to brand your business
The biggest issue with using your name to market your business is that people are constantly bombarded names everywhere they turn — names of people they meet, names in the news, social media handles, influencer names, coupled with relentless advertising for product brands and services. It’s not surprising that almost everyone has trouble remembering names.
The primary reason people have trouble remembering names is due to “interference.” To illustrate how interference works, it’s easy to remember what you had for dinner last night.
On the other hand, it’s highly unlikely that you remember what you had for dinner exactly one year ago today. The reason is you have had 364 dinners since then. The memory of all these other dinners “interferes” with the memory you are attempting to recall.
Making matters worse, even if the customer remembers your name when you first meet, memory research shows that we forget 70 percent of what we have learned within the first 24 hours after learning has taken place.
Brokers’ brand name may be your biggest competition
If you work for a broker that uses names to brand their business (Berkshire Hathaway, Coldwell Banker, Keller Williams), the consumer is more likely to remember the brokerage brand than your name. The reason is that they see it on every just listed card, for sale sign, business card, newspaper ad, social media site and web page the brokerage uses.
Having your own brand is hyper-critical today
Recent mergers and acquisitions make this more true than ever. If you decide to change brokerages or if your company undergoes a merger, is purchased or goes out of business, having your own brand allows you to continue to market without losing momentum.
In contrast, if you are relying solely on your company’s branding, you would have to start your branding efforts all over. This can result in lost leads and significantly reduced income.
What constitutes an effective brand?
An effective brand meets the following three criteria:
1. It is memorable
One of the hottest new brands today is “Liquid Death” with the tagline, “Murder Your Thirst.” This edgy water brand is memorable; it tells you exactly what’s in the can, and it specifically targets a younger, trend-savvy crowd that rejects sugary drinks. In fact, they even encourage you to “Start drinking on the job.”
2. It immediately brings the product being sold to mind
Unlike all the brokerages and companies using name brands, the company with the best real estate branding in the business is NextHome. Their tagline is “Welcome. Home. Find an agent or office near you.” Those powerful words embody exactly what a real estate company should do. Their branding also follows the Law of Three.
3. It identifies a specific target market
A brand that epitomizes this approach is Kyle McClelland’s myvarealestateguy.com. His URL and tagline, “Veteran Focused Austin Realtor,” clearly state the specific market he serves.
People remember functions, not names
If you were to meet me at a social event and I introduced myself as “Bernice Ross of ABC Realty, and I specialize in probate sales,” chances are you will remember the “blond lady who sells probates, but you won’t remember my name.
Instead, focus on creating a brand that clearly describes your market niche and the types of clients you serve. Even if you have established your own name as a brand within your market area, you’re still missing out. The reason? Anyone from outside your local area is usually searching by city name, state, and ZIP code. There’s no way they will be able to find you.
How to craft a brand that sticks in today’s market
How can you create a brand that cuts through the noise? Start with these principles:
1. Anchor your brand specifically to real estate
To make your brand more memorable, include “homes,” “real estate” or “properties” to indicate that you are in the real estate business. A smart strategy virtually no one is using is to create a URL that ends with “.realestate.”
Examples include:
- AustinProbate.RealEstate
- PortlandFirstTimeBuyers.RealEstate
- BoiseTinyHomes.RealEstate
2. Define the specific niche you serve
Being hyperlocal has always been important in real estate marketing. Today’s consumer wants someone who is a specialist in the type of property they’re listing or selling, not someone who tries to be everything to everyone.
Some examples include:
- Lake Geneva Second Home Specialists
- West Hills Golf Course Properties
- Richmond Historical Homes
The beauty of having a hyperlocal brand is that big name companies cannot afford to compete for small slices of the market.
3. Pinpoint your geography
This seems basic, but most consumers search for listings using the city, state and ZIP code, especially if they’re from outside the area. Sadly, a huge number of agents fail to include this data on their website and in their digital marketing.
Moreover, consumers often also search for “Realtors near me.” Consequently, your city, state, and ZIP code are essential if you want to be found.
Differentiate yourself from the competition
If you’re currently using your name to brand, now is the time to expand your branding efforts using the strategies above. Specializing in a niche and creating the appropriate branding around that niche will help you attract more leads and position yourself as the local real estate expert. It also lays the groundwork for building additional sources of revenue now and well into the future.
Bernice Ross, president and CEO of BrokerageUP and RealEstateCoach.com, and the founder of RealEstateWealthForWomen.com is a national speaker, author and trainer with over 1,500 published articles.
