Entering the real estate business is challenging and requires a mix of strategy, persistence, and good marketing. Many agents struggle to build a strong presence. Here are some common mistakes and how to avoid them:
1. Giving Up Too Soon
A common mistake is sending out one batch of mail and then stopping. Consistent communication is key. Here's a plan:
Mail Twice a Month: Send mail at least twice a month.
Intensive Initial Campaign: For the first three months, send mail every 10 days.
Sustained Effort: After three months, continue with the twice-monthly schedule.
Regular mailings help people remember your name. Research shows it takes about seven touches before people recognize you.
2. Lack of Specialization
Trying to cover too broad an area can be a mistake. Specializing can help you stand out. Here's how:
Neighborhood Specialist: Market yourself as an expert in a specific neighborhood, not a whole city or state. For example, become known as "Marina del Rey Condo Expert" or "The Castle Oaks Community Specialist."
Unique Selling Proposition: Focusing on a specific area sets you apart from more experienced agents.
When choosing your niche:
Farm Area Size: Pick an area with at least 1,000 homes that is recognized as a neighborhood.
Turnover Rate: Look for an area with at least a 5% turnover rate. For 1,000 homes, this means about 50 sales per year.
Competition: Avoid areas dominated by a single agent. Find a place with less competition to establish your presence.
Effective Mailing Strategy
A good mailing strategy involves frequent, engaging content. Here’s how:
Postcard Size and Design: Use attention grabbing postcards such as PRINTgenie's jumbo postcards that are 8.5” x 5.5” inches. Your postcards should atleast have your picture, recent sales or listings, your name, and phone number.
Content: Include a market update specific to your area and a contest, like a $25 Starbucks gift card giveaway, on the back.
Bio and Timing: Sometimes include a bio and reasons why it’s a good time to sell. A couple of times a year, replace a postcard with a colorful notepad to keep things interesting.
Building Name Recognition
The goal of your mailings is to build name recognition. Even if people consider it junk mail, they usually glance at it before discarding. Over time, this repeated exposure ensures they know who you are.
Conclusion
To succeed, avoid inconsistent mailing and lack of specialization. With the PRINTgenie app, we've made nurturing leads not only easy with our automated drip marketing campaigns, but we've also made it super cost-effective. Now you can easily stick to a regular mailing schedule and position yourself as a neighborhood expert. With these strategies, you can stand out and become the go-to agent in your area. Start automating your marketing campaigns now!
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