Listen. I get it …you are not a marketer. Which means that you are most likely guilty of making some of these real estate marketing mistakes. Clearly, I hope NOT….but again…Sh** happens, right?? So let’s work on correcting the mistakes riiiiiight now, shall we?
‘Drinking the Koolaid’
Please, please let’s stop believing everything you read. How often have you read’…the majority of home people looking to purchase a new home are first-time home buyers?’
This is absolutely and unequivocally FALSE. But many agents don’t bother fact-checking. If they did, they would realize that this is one of the biggest myths in the real estate industry and many agents across the world are wasting money and time because of it.
For the record, only 35% of homes purchased last year went to first-time home buyers!
So ‘don’t drink the Kool-Aid’ and believe everything you read. If you do, as in the above example, you would be focusing your marketing efforts on a tiny section of potential buyers, while other agents (your competition) are getting the remaining 65%!
2. No Focus
Throwing marketing darts into the air, praying something will stick is NOT a winning marketing strategy- yet it seems to be the preferred method with much of the industry.
Truth be told, this may be one of the easiest real estate marketing mistakes to make. Now the dog does shine on a doggy *you-know-what* every once in awhile, and you may get a couple deals a year with this method. BUT if you want more, you must FOCUS.
Target marketing is effective because once you narrow your market you’ll find everything else with your marketing comes ‘easier’- such as branding and content marketing.
3. Making the Same Mistakes
None of us are perfect. We are going to make missteps along the way.
Real estate marketing mistakes are easy to make because as an agent, you are juggling so many aspects of your business- sometimes we drop a ball…or two.
Here’s what you need to remember- don’t just accept the mistake and move on. Learn from the mistake so that it doesn’t happen again.
‘I never lose. I learn’
Take a moment to reflect on what you could have done differently, be honest with yourself and make a commitment to not make the same mistake again.
4. Trying to Do it All
I get it. It’s your business- but who told you that you had to do it all? You can’t wear all the hats in your business- well you can- but you won’t be as successful as you could be.
If you have a background in marketing, advertising, business development, PR, graphic design, lead generation, email, social media management, lead nurturing, bookkeeping, business development, technology and business administration then by all means….stop reading this and continue to wear all the hats.
However on the other hand, if you don’t have all these skill sets, or would actually rather spend your valuable time making deals and closing homes, you need to hire help or outsource. Period.
From marketing to freelance writers to social media management consultants- there is help available.
Once you can free yourself from the daily minutiae of your business, you will make money to invest your business and pay for all the marketing help you need. Take the leap…. you will be glad that you did.
Tip: Many times agents don’t outsource because they are worried that ‘no one can do it as well as I can’. This may be an accurate statement, but who cares? Rule of thumb- if you have a service of a consultant that can do something at least 80% as well you could- let them do it.
5. Not Taking Advantage of FREE Marketing
This is one of the more egregious marketing mistakes that agents make.
Yes, it easy to assume that free stuff has no value. But don’t forget- opportunities are not really free things- they are starting points. Starting points that will be valuable because of the work you put into them.
When was the last time you thought about Craigslist? Yeah…I said it. Not only is Craigslist still a good place to market your listings and capture buyer leads- you can troll for FSBO’s that may not be showing up in MLS.
Check on you this guide to using Craigslist in your marketing mix.
I’ve shared 5 mistakes that real estate agents make, and want to share the biggest (Bonus!). The biggest mistake agents make in marketing, is not understanding that real estate marketing is not ‘Set-it-and-forget-it’. Marketing requires consistency and commitment to make it effective.
If you need to make fewer real estate marketing mistakes. Send a note to my inbox and I’ll send you 50 real estate marketing ideas, that will make you a rockstar!