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10 Ways to Stand Out in a High-Competition Market

May 11 2022

wa stand out high competition marketsIn today's world, it is not easy to market yourself as an expert in anything. This is especially true in markets like technology, fashion and, of course, real estate. Not only is competition tough, but customers' attention spans keep getting shorter, making it even harder to showcase your expertise.

If you monitor the real estate industry carefully, you will see that some agents keep on growing consistently while others are barely getting new clients. What differentiates them is how they market to their ideal audience.

Today, I'll share with you some of the strategies that an make you stand out as an expert real estate agent even when it seems like there's no room for anyone anymore. These tips are simple to follow, but will change your business forever, especially if you're just getting started.

A little disclaimer, you don't need to implement all of them right now. Focus on just two or three and you'll notice significant growth in your client acquisition stats.

Find a Niche to Specialize in

A niche is a specific segment of a market for products or services. When we niche down, we are basically lowering our competition and focusing on putting our resources (time, money, and mind space) into only one portion of the overall industry.

Yes, it would also mean that you're kissing a lot of potential customers goodbye… or at least, that's how many newbies would see it. In reality, niching down is the best way to stand out in a crowded market because you can position yourself as the expert in an area.

Imagine you have a plumbing issue. Would you rather work with a do-it-all service company or a company with more than 40 years of plumbing experience? Picking a niche is a rule of thumb for any successful agent.

However, if you are based in a small town, there is no point in niching down as your competition is already too small, and there might not be enough opportunities in one specific niche.

On the other hand, if you are a real estate agent in a big city, niching down can help you develop your expertise and get more clients.

In big cities, people are looking for something specific, and they want to go to an expert. It is better to have a small piece of the pie than to get nothing at all. You can create your specialty based on a specific location, or you can choose your specialization based on property types, like luxury homes or condos.

Create a Website to Showcase Your Listings and Build Authority

First, if you're an agent just starting out, it is better to get a domain that you can use for personal branding rather than a domain to promote your agency. Personal branding is very powerful, and it is an excellent way of marketing to potential clients.

When developing your website, hire a developer to ensure the website is well designed and has the necessary features that visitors would like to use. It is vital to have a website optimized for all desktops, laptops, tablets, and mobile phones.

Note: If you're low in capital, another option is using website builders like Squarespace or Weebly. Although WordPress is a great choice, it has a steep learning curve you'll need to consider if you decide on that route.

It is a good idea to start a blog and establish authority by speaking on the subject and answering relevant queries that your clients want to find an answer to. Make sure you optimize your site for search engines like Google (SEO), so your target audience can find your site.

Content and sound design is the best combination to build authority in your niche.

Provide Free Upfront Value to Your Audience

Freebies are a great way to build trust with your audience. Create free products or resources to show your audience you know what you are talking about and help them find the right solutions.

A clear example is adding a search feature to your site that helps users better navigate your listings. Maybe a PDF that teaches them how to choose the right property for their needs.

Some other freebies that you can gift your prospects are:

  • eBooks
  • Case studies that show your process
  • Infographics
  • Decision flowcharts

Also, downloadable resources are useful for generating leads by requesting email addresses or phone numbers for access.

Maintain an Active Email List

Email is the best way to stay in touch with your potential clients and also update them about any exciting updates in the real estate market. The best marketers acknowledge the power of email marketing and leverage its power to make more sales.

Send weekly email blasts to your email subscribers. There are many free email autoresponders you can use or purchase for a small monthly fee.

Make sure that the content of your email is rich with quality. Give special attention to the subject line of your email. Eye-catching subject lines will increase your email open rate.

Pro tip: 80% of your emails should be helpful and educational (content sharing, free resources, guides, updates) and 20% promotional (new properties available, drop in costs).

Use the Power of Social Media

You are losing a ton of clients if you are not on social media. People often look for real estate agents on platforms like Facebook, Instagram, and Twitter.

Similar to email marketing, you need to share valuable information with your audience. In social media, you do it in the form of posts.

Make sure you format every post well and use relevant hashtags to get more reach. It is important to reply actively to queries and to reply to the first few comments instantly so a post reaches more people.

Pro tip: if you're already creating content for your website, you can repurpose those pieces of information for your emails and social media content.

Get Listed on GMB (Google My Business)

Traffic from Google is free, and a great way to get it is by listing your business on GMB. You would need to provide locations to your business and your contact info so people can easily find you on Google.

People searching for real estate agents nearby would be able to see you if you secured the top spot on GMB.

The process looks something like this:

  • Verify your address
  • Upload pictures of satisfied clients, homes, and neighborhoods
  • Add your contact information like phone number, website, and social media
  • Get 5-star reviews from clients to help your GMB profile rank higher

Provide the Best Experience to Your Clients

All the promotions in the world will get you nowhere if you don't provide excellent service to your clients to back it up.

The real estate business is all about forming connections with people, understanding what they need, and delivering what they are looking for.

You can give them a sneak peek of how it is to work with you. A glance at your work process would help potential clients with technicalities and ease their minds—remember that investing in property can be a stressful endeavor for many.

Word of mouth is still a compelling way to get new clients by referrals. Because of social media, it's become more accessible for people to talk about a service that they love and get tons of value from. Getting that free publicity is not something that you should miss out on.

Underpromise and Overdeliver

Everyone hates it when they don't get what they expect. Don't be the reason why your client feels that. When you are setting expectations for your client, make sure that you can keep your promises. Don't get overwhelmed and promise them something that you can't deliver.

It is always better to underpromise. Consider the risk factors before committing something to your clients. Always tell them what they need to hear rather than what they want to hear.

When it comes to executing, make sure you do more than you are asked for. Overdelivering won't go unnoticed, and this is what separates the best from average.

Sponsor the Right Events

One of the best ways to get in front of your ideal customers is by sponsoring community events. Lots of events are always happening in big cities so you should have plenty to choose from.

Sponsor the events that you truly believe in.

Sponsoring the right events sets the stage for you to get familiar with ideal clients. Talk to people at the event and build a strong network. Tell them what you do and answer industry-related questions that they might have.

Invest Money in Personal Branding

Branding is vital to generating loyalty and having a strong recall value. If you are not marketing yourself, nobody will.

Here are some of the best investments you can make:

  • Use high-end business cards. Real estate is all about connections and those can happen anywhere and at any time.
  • Hire a graphic designer to design a logo that makes an impression on your potential clients.
  • Improve your social media presence with professional photos of your listings, clients, and yourself.
  • If you can't write great content, find someone that can.

Your brand is essential for closing big deals, so treat it as an investment rather than an expense.

Wrapping Up: Go the Extra Mile

To succeed as a real estate agent, you need to be willing to do things that most agents neglect:

  • If it is raining, offer your prospects a free branded umbrella.
  • Conduct surveys to gain insights into what your clients are looking for.
  • Give your clients the attention that they need and be helpful (not pushy) during negotiations.
  • Answer client calls and reply to their emails as much as you can. Communication is a great way to make a lasting impression.

I hope these tips help you carve a space to stand out as a real estate agent in your area and to grow your business, just like they did for me.

To view the original article, visit the Wise Agent blog.