In virtually every business category, branding and brand identity are mission-critical in order to be successful. The same holds true within the real estate industry. But before we cover some trend-forward tips on effective branding strategies, let’s first define what branding is. The following is a realtor-friendly definition of branding which combines several viewpoints and conveniently ties them together in the following description:
Brands are shorthand marketing messages that create emotional bonds with consumers. Brands are composed of intangible elements related to its specific promise, personality, and positioning and tangible components having identifiable representation including logos, graphics, colors and sounds. A brand creates perceived value for consumers through its personality in a way that makes it stand out from other similar products.”
Now that we know what branding is, let’s take a look at how you can develop it.
Strategies for Building Your Own Real Estate Brand
Evaluate Your Competition
Know who your competitors are regarding their specialties and niches. You want to exploit any competitive weaknesses and at the same time leverage your strengths against those weaknesses. Is there a high-end specialist? A condo expert? A low-cost leader? A “green” realtor? Someone who sells mainly golf communities? Being aware of an “open space” or void within your market offers you an opportunity to differentiate yourself among other realtors.
Define Your Brand as a Realtor
Prior to deciding on a name, tagline, or graphic look for your real estate brand, take time to ask yourself the right questions to ensure you will be speaking directly to your target audience. Here are some important questions that will help guide you through this process:
- What is your core demographic? Can they be narrowed down by age, gender, family status, or profession?
- What real estate services do they need? What services are the most sought-after? Are there any services that a premium is put upon?
- What neighborhoods that you serve are the most lucrative to do business in? Would it benefit you to brand yourself around those specific markets?
- What specific advantages do you hold over the competition? Some real estate companies brand themselves around a signature service that they provide.
- What are the values of your company? Branding around morals and ethics can instill consumer confidence in your real estate business.
Create Your Brand
You shouldn’t underestimate the power and appeal of graphic design when it comes to your branding. You should also consider creating unique looks or styles for your signature services or other real estate products if you have them. Once people become accustomed to your logo’s elements (the color scheme, the shape, and words contained within it), they will start to associate qualities to your brand. Fortunately, for the real estate professionals at Realty ONE Group, this is provided. The Realty ONE Group logo is quickly becoming ONE of the most recognizable logos in the industry.
Launch Your Brand
Once your real estate brand is complete, you need to do everything you can to push it out into your local market. Every phone call should be answered with your branding in the script. Your print materials, including stationary, business cards, postcards, and home signs should proudly display it. Then spread your brand throughout your online presence; from websites to blogs, from social networking profiles to email blasts. They should all have consistent language and visuals (logos) that reinforce your brand.
Following these branding strategies will set you apart and help ensure your success in a competitive industry where every advantage can make a difference.