Do you ever feel like every other real estate agent out there?
Or struggle with thoughts like, “Why would anyone ever hire me over someone else? There are so many Realtors out there! The market is oversaturated with agents.”
If so, I wrote this post for you, because 1. I’ve been there and I get it and 2. You don’t have to be like every Realtor out there (because you aren’t!), and I’m going to share 4 ways your real estate business can stand out in a seemingly overcrowded market.
The Real Estate Market Is Oversaturated
Marketers know that it's a given that a market is oversaturated when 80% of the population is using or has access to a product. So what makes the real estate market different? For starters, it's not just an oversupply problem with real estate, but rather an oversupply of agents. With over 1 million agents all competing for business, the odds are pretty much against you when you go head to head with competitors. So how does your real estate business stand out in this saturated market? Here are four ways:
1. INVITE PEOPLE TO FALL IN LOVE WITH YOU
People buy from people and brands they like, connect to, resonate with, and fall in love with.
If you’re not sure why people would love you, ask your friends, acquaintances, and past clients what it is they absolutely love about interacting with and spending time with you.
Trust me, there are things that they absolutely love about you. The things that make you, you.
How you can do this:
1. Infuse your personality into your brand. If you want to stop being seen as the same as every other person in your industry, set yourself apart by being YOU. And it’s okay if not everyone likes you; not everyone should. If your goal is to build a real estate business that EVERYONE loves, your brand isn’t going to stand out. It’s going to feel diluted.
2. If you haven’t yet, share your origin story of why you started. Why did you go into real estate? Everyone loves a good story, especially when there’s passion and purpose involved. Don’t be afraid to share yours.
2. CREATE YOUR OWN NITCHE
Want to stand out in an oversaturated market?
Don’t do what every other Realtor in your industry is doing the same exact way they’re doing and do not take on any and every job under the sun (or even if you do, don’t advertise it as such).
Build your portfolio and expertise and pick a specific direction you want to go.
How you can do this:
Don’t just offer another service.
Provide an EXPERIENCE that people can only get with you. Maybe your specialty is investment properties. Set up an entire system to alert buyers to new properties and create a proprietary spreadsheet to calculate net profits for the investor. Make each investor feel like a VIP!
Maybe you want to be in the luxury real estate market. Study other luxury brands and understand and take notes of how they are emotionally connecting with the buyer. Where are their ads located and where can you interact with these potential clients.
Brand your real estate business and be known for your experience. That’s how you set yourself apart as an agent in an oversaturated market. Have people come to you.
This is specifically why people come to you, and this is what you’re known for. Create a niche within your niche.
3. Provide value.
How are you going to make someone’s life better? We all have aspirations, dreams, goals, struggles, etc.
Become their guide - the person who takes them from point A to point B.
Value can come in so many forms: inspiration, education, storytelling, and/or building culture and community.
How you can do this:
Give, give, and then give some more. (Something Gary Vee taught me.)
What are they struggling with? What do they need to hear today? Why do they need your services or products? Give from a place of abundance, instead of fearing that others will steal your ideas.
This also helps with creating top-of-mind brand awareness.
Make it more than just about just you. Remember to make it about them, too.
Most real estate agents are only concerned about them, and that’s where the problem is.
They focus on why they aren’t getting engagement and comments on their listing photos, but are they engaging with others? Are they sharing about themselves in their Instagram stories and posts? Do they ask people in their community how they’re doing?
Remember it’s not just about you, it’s about your community.
4. Create an awesome brand experience/buyer journey.
Your favorite brands create brand experiences all the time, from the way they arrange their store to their social media channels.
Take a moment to think about how you feel when you interact with your favorite brands.
What are they doing to make you feel this way? What are they doing to inspire you to take action? (i.e. buying their products and services) It could be their brand mission, storytelling, design, messaging, aesthetics, overall vibe, etc.
How you can do this:
Think about how you want people to feel when they interact with your brand.
Then, write down a list of all the possible ways people interact with your brand. (Ex. IG posts - stories - highlights, FB, Pinterest; email newsletter; freebies and lead magnets; in-person events; investment guide; website; etc.)
How you can make your brand interactions more cohesive, consistent, and clear? How can you inspire them to take action?