Understanding Real Estate Brand Development: What It Means and What You're Missing Out On
Have you always wanted to be independent and run your own real estate business? Do you watch property tv-shows on Netflix and dream about such success? Can you imagine your dream business so clearly and vividly in your head? Amazing clients walking in and out of your beautiful high-street office, supervising your team, closing top-dollar deals every day, coming home happy every evening, and enjoying your life to its fullest?
Only the reality is a little bit different.
You are a one-man-band realtor, you spend days and nights at your computer, you are trying hard to learn everything about business and marketing, you work from your bedroom or living room sofa, you only hear crickets instead of ka-chings, and you wonder why the world hates you instead of having the time of your life.
Unfortunately, this is a sad reality for millions of businesses that cannot reach enough clients to grow their profits or survive in the market.
It has nothing to do with your real estate skills and experience. Running a business requires a different mindset and skill set to succeed. Without them, you can work as many hours as you want, but your business won't progress.
Fortunately for all businesses that struggle, there is always one thing that can fix most of their problems, but it's regularly skipped or misunderstood.
If you are unhappy with your business or want to start your business the right way, read this article to find out how to end your real estate business struggles.
Are you a new realtor?
Did you recently get your realtor license?
Or are you still studying to become a real estate professional?
Getting a real estate license and business registration are usually moments of celebration. Writing a simple business plan is a useless school-like essay. Tax deadlines will give you nightmares until you find a great accountant. But styling your home office and getting new equipment will make you feel like a boss.
Finally, you open your new laptop, create a Facebook Page, and launch your business. Within an hour, your business has five social media accounts. Your first post is an introduction saying you are a real estate agent open for business.
BTW, did a friend recommend a web developer for your real estate website? You are super excited that the developer will handle everything for you – properties search, business logo, images, videos, descriptions, etc.
Congratulations, you ticked all the boxes off your real estate business launch checklist, the same as everyone else! So, how will that make you any different from all other realtors in your area and generate clients so your business can survive?
According to statistics, many realtors close their businesses after the first year or within three years of running a business.
The main reason for that is the lack of clients. The lack of closed deals leads to an unsustainable budget to maintain your business. Furthermore, the many unfitting clients you must work with lead to stressful mental and psychological challenges.
Another reason is inadequate, exhausting, and expensive marketing and advertising. With social media and paid ads becoming more unfriendly and complex, reaching prospects is getting more challenging, frustrating, and costly.
If you are dreaming of being an independent realtor and running your own business, there are another mindset and a plan required too.
Are you an experienced realtor?
Understanding what successful businesses do to close more deals and how they make it seem so easy isn't just new realtors' concern.
Perhaps you have been running a real estate business for 5+ years only to feel your business hasn't reached its full potential as you imagined.
Some realtors have a great start but get lost due to millions of piled-up tasks, exposure to endless information, and unpredictable life events.
When the cloud of confusion becomes too thick to see beyond, knowing the way out is frustrating and intimidating. But it's normal for that to happen at any stage of your real estate journey.
The solution is straightforward if you are serious about getting your business back on track.
What do all successful businesses have in common
When running a business, it doesn't matter what industry you're in and if you sell services, products, or content.
It doesn't matter because, at the end of every transaction, there is a human being you are selling something. A customer, client, follower, consumer, etc., always decides whether to buy your offer.
Believe it or not, that decision is made based on what you do or don't do, and it's undoubtedly NOT left to chance.
If you still think that the real estate business is different and more challenging than any other, think of your favorites and answer the questions about them listed below.
Think of your favorite real estate businesses you look up to (real estate franchise, real estate brokerage in your state, and realtor-entrepreneur).
Think of the schools you finished (university, real estate school, online course, or anything else).
Think of your favorite products (fashion brand, cosmetics, home décor, car, tech, restaurant, or anything else).
Think of your favorite individuals (coaches, celebrities, politicians, or anyone else).
Think of your favorite publications or channels (newspaper, magazine, TV channel, YouTube channel, blog, or anything else).
Answer the following questions about each.
How did you first find them?
What do you like about them?
What did they help you with?
How do you engage with them?
How do you recognize them visually?
Are they new on the market (a startup)?
Do they provide high, average, or poor-quality content/service/product?
Is there anything confusing about their content/service/product?
Do you recommend them to your family members and friends?
Would you replace any of them with a new favorite at this moment?
In a single word, what do all of them have in common?
What is the primary motivator for favoriting them, even though thousands of other businesses sell the same content, service, or product?
You don't perceive them as "just another business" providing a service, product, or content.
In a single word, they are – the BRANDs.
Discover the essential difference between a business, a brand, and branding in our article HERE.
How to turn your business into a real estate brand
A brand is an emotional perception in someone's mind that results from multiple tasks done right. For your potential clients to favorite your business, it needs to become an established real estate brand in their eyes.
For that reason, brands don't happen overnight. Transforming your business into a real estate brand takes hard work, patience, and believing in yourself.
Remember, what makes your favorite brands so successful, recognized, and established didn't happen in a month or a year. What they are today can only be your goal and inspiration, not a one-week accomplishment.
The result of not having a real estate brand
Being a brand is a proven factor in favoriting any business. You miss out on great opportunities if you don't devote time to branding your real estate business.
Here's how to know if your business lacks the brand factor:
Is it hard to differentiate yourself from other realtors in your area? Is it hard to find the right words to say when introducing yourself, describing your real estate services, creating business offers, writing exciting property descriptions, crafting social media posts, sending monthly newsletters, or mailing prospecting to your community? Does the number of clients reflect the hours you spend at your desk, or do you feel that you work super hard but always miss out on dream deals? Does your business look more like a high school project than a professional high-street business?
If any of the above sounds familiar, there is room for improvement. In the long-term, the result of not having a real estate brand in place always results in:
Spending more money than planned
A cluttered to-do list
Poor time management
Wasting time on useless stuff
Fighting for every client with salespeople methods
Expensive marketing and advertising
Unfitting clients
Low inventory
Inconsistent marketing message and content
Amateurish logo and branding
Poor first impression
Exhaustion and mental breakdown
A lot of technical problems
Years-long learning curve
Low profit
What is real estate brand development?
Real estate brand development is a business and creative process of clarifying, planning, and visualizing your business. Every real estate business has a unique story that must be communicated well to attract and convert leads into clients.
A real estate brand development project consists of a real estate brand strategy and production phases. The project includes but is not exclusive to business, marketing, and branding.
Due to the complexity of branding your real estate business, working with a professional brand designer is highly recommended to get the most satisfying result and return on investment.
A brand designer is a professional graphic designer specializing in brands. A brand designer can also be called a brand director, strategist, developer, etc. The term professional refers to having a design school or university degree and usually years of experience.
Read more about a real estate brand designer HERE and they can help you transform your business into a profitable brand.
Working with non-professionals, self-called designers, and amateurs often leads to an unsatisfying experience, lack of business planning, unoriginal and poor-quality branding, money-wasting, and no long-term growth.
When to brand your real estate business?
The best time to brand your real estate business is within the first and fifth years in business. But this is only a guideline because every business is different. Having a clear vision and goal is crucial to get the best result.
At the beginning of your business, you might be uncertain about your vision and goal, so they might get modified or changed to accommodate the market needs.
Since so many things can be overlooked or not given enough thought, we strongly advise talking to a professional brand designer as early as possible to prepare well for the project.
Find out what’s the best time to brand your business HERE.
How to brand yourself as a realtor?
To brand yourself as a realtor means differentiating yourself from other agents and building a strong reputation in your real estate market.
Here are some of the essential tips on how to brand your real estate business at your own pace:
Define your brand. Start by identifying your unique selling points (USP). What sets you apart from other realtors? What skills, qualities, or experience do you have that make you the best choice for your clients? Refer to the questions above about your favorite brands.
Develop your message. Based on your USP, create a clear, concise message communicating your value to potential clients. This message should be consistent across all your marketing channels and print and digital materials.
Create professional branding. Invest in high-quality photoshoot and real estate branding, including a logo, business cards, and a professional website. Your image should be consistent with your message and reflect your personality and style. Work with a professional on bespoke branding or create one yourself using high-quality Canva templates like these ones HERE.
Leverage social media. Use social media platforms to build your online presence and connect with potential clients. Post regularly, share valuable content, and engage with your audience. Choose just one social media account, as it will be more than enough to manage.
Network. Attend networking events, join local associations, and collaborate with other professionals in your real estate community. Building relationships with other professionals can help you generate referrals and build your reputation. Work on your first impression and social behavior.
Provide exceptional client experience. Deliver excellent customer service to every client you work with. This will help you build a positive reputation and generate repeat business and referrals. Provide your clients with welcome and goodbye packages so you don't forget something important.
Remember, branding yourself as a realtor is an ongoing process that requires consistency and dedication. Following these steps, you can build a solid real estate brand that helps you stand out in a competitive market.
Want to turn your business into a high-end and profitable brand?
At Realty Kiosk, we are dedicated to developing high-end brands for realtors.
The best way to contact us is by submitting your Project Inquiry HERE so we can discuss your needs and see if we are a great fit.
