Marketing Advice to First-Time Realtors

Being a in the real estate business as a Realtor is tough in today’s economy. Especially, when it comes to marketing. You have all these people saying what to do and what not to do. Some saying you must participate in social media and some saying it’s a waste of time. Even just searching for advice causes information overload.

So as a marketer, here’s what I recommend for first-time Realtors:

  1. Don’t be average. So if I was going to open a real estate office. I would spend the first three years NOT doing what I see the other real estate agents doing and that is balloons everywhere, placing those folding metal signs on the street corner, and going into debt for a Mercedes to drive the person to the house. 
  2. Meeting space. What I would be doing is making sure that every community organization has it’s meetings in my office because I would have a big enough meeting room that they could meet there as often as they wanted.
  3. Member of the community. I would then figure out how to get on the school board. I would figure out how to be the assistant coach of a sports team. I would figure out how to be this integral member of the community (as my fellow blogger at Social Media for Realtors would say, “Never Forget: Real Estate is Local.”) and not worry so much about whether or not I was selling a house tomorrow.
  4. At the heart of all transactions. In this business there’s a trust shortage. There isn’t a people don’t know how to fill out forms shortage and what we know from the National Association of Realtors is that: more than 70% of the people who list a house picks the Realtor who calls them back first.
  5. How to get called first. The goal is to figure out how to get called first. Not how do you prove your yield on a percentage basis is better than everyone else’s  yield and if you get enough listing you’re going to make money.
  6. Thinking long-term.  So this is a multi-year process of owning a tiny market, a zip code, a side of the river, a neighborhood (being the best in that world) as opposed to running from opportunity to opportunity hoping you’ll be done.

Question: What advice do you have for first-time Realtors?