Right now, no matter what market you work in, you’re likely seeing multiple offers and properties sold way over asking. Despite the ongoing pandemic, the real estate market seems unstoppable right now.
However, it’s also brought about another problem for agents and buyers alike: lower inventory.
But of course, a low inventory market doesn’t mean there aren’t any listings at all; there’s just less of them. There’s still people selling their properties for a multiple of different reasons.
As an agent, you need listings, so what are you to do when there’s low inventory? Focus on marketing.
Your marketing strategy can directly help you, your business, and your services, appeal to the potential sellers that are out there, right now, thinking about selling and deciding which agent to work with to do it.
Here are some marketing focuses that you should adopt if you’re in a low inventory market and want to capture potential seller leads.
Focus on a Niche
Building your real estate business around a niche is a powerful way to build authority and gain experience. It can make potential sellers think of you automatically when they want to sell their home if it falls into what you specialize in. There’s a lot of different niches you could focus on:
- Focus on specific types of properties, like condos, lofts, or luxury homes.
- Focus on types of transactions, like FSBOs, downsizers, or divorces.
- Focus on neighborhoods, areas, or communities
Naturally, most people want to work with expert, experienced agents when they’re selling their home, so if you’re the agent that they associate with their area, situation, or property, it can give you a big advantage as to why they should work with you over a competitor.
★ Click right here to learn more about carving a niche to get better real estate leads.
Focus on Building Trust
Potential sellers want to know that they can trust you for multiple reasons. If they think they can’t trust you, they obviously won’t want to work with you.
But as we all know, trust is hard to build: it’s earned, not bought, and it certainly doesn’t happen over night. So how do you go about building trust with your audience?
- Build Consistency: Make sure that everything that you use to market yourself, from your business cards to your website to your social media posts, looks consistent across the board.
- Build an Emotional Connection: Emotion plays a really big role when people are deciding who they want to work with, so by using certain colors and words, you can build emotion into your branding and overall marketing strategy to appeal to your audience.
- Build a Review Strategy: You should have a strong online review strategy in place across multiple platforms. Positive, online reviews serve a number of different purposes within your marketing strategy, one of which is to ensure people know all the benefits of working with you as told by someone that actually did work with you. It’s a bit like a referral strategy that runs in the background 24/7.
★ Click right here to learn more about how to build a trustworthy personal real estate brand.
Focus on Proving Your Digital Competence
There has never been a time when proving your digital competence was more relevant. Potential sellers want to know that you have a strong understanding of marketing a property in today’s primarily digital landscape.
How you pitch yourself needs to be focused on marketing and technology. You need to show that you have embraced technology and you know how to market a home to people as if they’re actually there in person even if they’re not and may never be.
Basically, if you don’t have a strong digital strategy in place, and the ability to explain it to potential sellers, then you’re already behind the agents that do.
★ Click right here to learn more about why proving your digital competence will win you your next client.
Focus on a Modern Listing Marketing Plan
With the push to digital, potential sellers put a lot more emphasis on how you market properties online. Now more than ever, your ability to market a listing successfully online can directly contribute to you actually getting the listing or not.
They want to know that you have a clear, well-thought-out, and effective listing marketing plan that takes full advantage of digital technologies that makes potential buyers feel like they’re actually there. If you don’t have a strong plan to do that, sellers will look for agents that do.
★ Click right here to learn more about how to market your listings online successfully.
With up to date marketing trends relevant to today’s market, our report is a selection of curated content, information, and data that will give you an outline of what’s working right now in real estate marketing.