Real Estate Agent Ideas to Gain Market Share
Real estate is a competitive industry for agents. The bar to entry in the field is considered fairly low, and most agents can teach themselves everything they need to know about marketing to get a foot in the door. What’s more, so much of the home buying and selling process takes place online before clients ever reach out to an agent, which means agents are increasingly less involved in client-facing interactions. It’s no surprise that more agents are interested in learning how to gain more market share and “protect” their territories from increasing competition.
The truth is, there are no magic moves you can make to do this. But there are a few things you can do to increase your chances of becoming first on people’s minds when they do need an agent. Take a look at some of our most effective ideas:
1. Refocus your networking.
Networking will always be a real estate agent’s bread and butter for marketing. But one of the most rookie mistakes you could make is going wide with your networking rather than deep. When you spread yourself too thin with your network, a few things happen:
One is that you make a lot of contacts but can’t properly nurture them and build deeper relationships with them.
Another is that you get bogged down in the mechanics of networking that you forget to focus on the dynamics of networking. You make the connections but fail to follow up and keep the larger picture in mind.
The best practice is to refocus your networking. Have specific goals in mind and know what you want to get out of networking events. When you have a plan, you’re much more likely to achieve something than waiting for chance.
2. Double down on real estate farming.
We covered real estate farming in another blog article. Farming is a lot like focused networking, but on the level of neighborhoods or specific markets. When you can dial in your efforts to a select area or group of people, you can better use your resources and marketing budget to attract only those people. You might not get the largest market, but you can become the go-to real estate agent for specific areas.
3. Improve your online presence.
Historically, successful real estate agents are on the ground and in front of people. But since so much of the real estate journey happens online, it makes sense that you need a strong online presence, too.
Put some effort into building a standout, SEO-friendly website, maintaining a social media presence, and earning online reviews. The more attractive you look to online searchers, the better chance you have of getting real estate leads from online channels.
4. Build local authority on Dorrmat.
Speaking of online authority, the Dorrmat platform for real estate agents was made to help agents in their markets become the go-to expert for all things real estate. Doormat helps you generate seller leads and offer valuable advice at the consulting level to help you earn trust and win business. You can learn more about the Dorrmat platform here.
Remember, it’s not just about growing the breadth of your market share, but also the depth. Once you’re rooted in a specific area, it becomes much harder for others to compete with you.
If you are in one of these three metro markets: Phoenix, Tucson and Yuma Arizona, and want to start closing more transactions then reach out to Brittany. Brittany is the team leader of the James Sanson Team.
If you have thought about joining a real estate team you will love the benefits of their team.