Happy New Year! What Will You Do Differently in Your Real Estate Business This Year?
Although the attribution is under debate, Albert Einstein famously defined insanity as “… doing the same thing over and over again and expecting different results.”
Regardless of who truly gave that one to the world, it sure is true, isn’t it?
As we head into a fresh, new year, it’s time to do a lookback at 2023. What worked? What didn’t? What did you hope to accomplish that you didn’t? Where are the gaps in your marketing plan that need to be filled?
Is this the year you’ll hire help?
Today we throw out some ideas. No, nothing new, but perhaps new to your business in 2024.
Understand your audience
“Census data shows that 4 in 10 Americans are finding it difficult to cover their expenses,” according to Emma Newbery at Fool.com.
“On average, Americans need an additional $11,434 to afford the same standard of living in October 2023 compared with January 2021 …,” suggests Aimee Picchi at CBSNews.com, citing a study by the U.S. Senate Joint Economic Committee.
Sadly, the media doesn’t seem to understand the plight of average Americans in this economy. They deliver the news as if we’re doing peachy, making money hand over fist without a care in the world.
Naturally, those struggling the most are not likely in the market to buy a house right now. But, rest assured that a chunk of the higher earners in that 40% of Americans just may be.
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Are you online enough?
Strengthen your online presence via social media and a robust offering of advice and information on your website.
The secret? Ensure that what you post is irresistibly sharable.
These topics don’t all have to be real-estate related. In fact, those that are shared the most tend to be community-related, such as those about local coffee shops, restaurants, dog groomers, etc.
Yes, you’ll want to throw in educational real estate pieces to show your expertise and educate your followers. But social media is a place for them to get to know all aspects of who you are.
Get a Niche
Have you considered specializing in a real estate niche? Focusing on one group of people, type of property or neighborhood is an amazing way to stand out from the crowd of other agents in your area.
Popular and lucrative niches include:
- People – veterans, ethnic, foreign buyers, generational (for instance, baby boomers, or Gen X), new-home buyers.
- Geographic – as mentioned earlier, this might be specializing in a particular neighborhood, condo community, or beach-front properties for instance.
- Property type: luxury, starter homes, condos, multi-generational homes, new construction, waterfront, golf course.
Use your content, both website and social media, to show them you’re not blind to their plight. Keep them abreast of the local market, but have some fun too. Any positive news you can provide will have them coming back for more.
2. The Free 6-Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
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The Free Interactive 6-Month Real Estate Business Review allows you to enter your business goals for the remainder of the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your goals. – Click Here
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