As we ready ourselves for 2012 and the spring market, many Realtors are working feverishly on their business plan, or at least they should be. The power of having a plan with goals to attain is indisputable. In the June issue of the “Iowa Business Journal,” Victor Aspengren writes about the importance of committing your goals to your peers and frequent progress updates.
Personal Promotion
For those who understand the benefits and have the resources, personal promotion is a key ingredient to their plan. It can be implemented by leveraging a variety of media, whether it be social or print. A good rule of thumb is to re-invest approximately 10% of your GCI (Gross Commission Income) into personal promotion.
Branding doesn’t work
The mindset of many Realtors is that branding doesn’t generate business. Those who feel that way do so because they fail to recognize two crucial and misunderstood elements to a Realtor’s marketing strategy.
The first is consistency. If you are going to commit, then you must commit for the long haul at regular intervals. I’ve witnessed magnificently successful marketing plans take two to three years and beyond before the agent really began to reap the rewards. Andrea J. Stenberg discusses the Rule of Seven in an issue of “The Baby Boomer Entrepenuer.”
It’s about you
A second element that is key to successful marketing for a Realtor is more misunderstood than the first but every bit as important. Personal promotion is just that – personal. It’s not about your company, it’s not about the house, it’s about you. You must give people a compelling reason to call you.
If your marketing promotes the company more than it does you, then the prospect is more likely to call the company and speak with whomever happens to answer the phone.
If your marketing piece promotes a property for sale, and the property has no appeal to the prospect, again there is no reason for the prospect to call you.
Your annuity
Personal promotion is what I refer to as your annuity. The benefits are mostly long-term. Create marketing pieces that are crisp and clean with lots of white space that succinctly detail the unique qualities that you have to offer. Do this consistently at regular intervals and in two years time you will have a pipeline that’s bountiful enough for you to forego all other types of prospecting activites and be hugely successful. How nice would that be!
What say you? Please let us know your thoughts in the comment section below.
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I could watch Schnidelr’s List and still be happy after reading this.
You’ve rlealy helped me understand the issues. Thanks.
This is a post that every William Raveis manager should share with their agents.
This is a great post. I was brought here via David Popoff and his blog on Active Rain that mentioned you. I agree with you on so many levels.
I’m the owner of Floor Coverings International – Westchester/Fairfield. Like you, we have a brand name, but we are sole proprietors. Of course, the franchise wants us to promote their name (for obvious reasons). While the brand name gives me credibility (and being tied to California Closets and Certa Pro Painters does as well), but I was getting frustrated as our name is challenging to remember. Also, it’s long and the logo is not distinctive and it’s challenging to incorporate into most vehicles given it’s size/shape.
Out of necessity, at a Women’s Council of Realtor’s mtg, I was trying to come up w/ an easier way for people to remember us, and hence the idea of “The Flooring Girl” was born. It describes me and differentiates me and it’s fun/easy to remember. I now own the domain and created my own blog on there and am in process of doing several other things to promote this idea. (Also, BTW, this landed me a spot on 2 episodes of Sell this house.”
There is so much I can do with it, and I’m looking forward to doing this over the winter.
David wrote good things about you, so I think I will subscribe to your blog. (also, you can find me on Active Rain). My name is Debbie Gartner, BTW.
You have shed a ray of snshiune into the forum. Thanks!
Well mcaaadima nuts, how about that.
If you wrote an article about life we’d all reach elnightemnent.