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For residential real estate agents, becoming established as a local authority is the best way to develop business throughout the community. The concept is a simple one: When people see someone as highly knowledgeable in a particular niche, authority is established, and serious referrals come as a result.
As entrepreneurs, real estate agents must wear many hats. When focusing on business development and networking opportunities, that’s the right time to wear the hat labeled “generating word-of-mouth referrals.” That’s also when you should leave the hat labeled “salesperson” on the shelf in the closet at home.
An important step in building a real estate business is bringing attention to your personal brand. Start in your own backyard using two or three of these, my favorite strategies, and build from there. It may turn out to be much easier than it sounds and a lot of fun along the way. The bonus? Reputation management in real life enhances online reputation as well.
1. Connect with local event planners: You’ll never fail to find somebody who loves holiday parades, farmers markets or food festivals. Find out what’s going on in your neighborhood and surrounding ones, who the organizers are, and how you can lend a hand or sponsor something small. Once you get established, larger events and charity fundraisers can follow.
2. Get involved with schools: If you have children attending local schools, beginning with prenursery, you’re in luck. The built-in network of parents is ideal for business development. Reach out to the PTA to find out what the highlights are for events throughout the school year. No kids of your own? Ask neighbors to keep you in mind for sponsorships at events and fundraisers at their schools.
3. Local news: Is there a local newspaper or magazine distributed in your area? While fewer and fewer print publications exist today, online community channels have been growing. Join sites like Nextdoor.com and other free social networking vehicles to leverage your professional and personal network, stay current and participate in conversations. Connect with members of your community through lively conversations on real estate, pets, contractor referrals and recommendations, garage sales, crime and safety, local events, and more.
4. Start a Facebook Group: The organic (unpaid) reach of Facebook business pages has plummeted, in my experience. But, paid reach is not a cheap option for small business owners. In 2019, Facebook announced a push toward supporting its Groups feature, calling the platform a “living room” designed around personal interactions. Anyone, including a real estate agent, can start their own Facebook Group. Remember, it doesn’t need to be about home buying and selling. Instead, it can be about local parks and recreation, activities, museums, things to do with kids, or dining out. Why not interview small business owners, community leaders and local politicians and share those conversations with interested neighbors and clients?
5. Be active on LinkedIn. Understandably, there’s concern about Facebook Groups going the way of Facebook business pages whenever the social media network decides to shift its algorithms again. LinkedIn offers a solid alternative as a place to build a thriving industry community, highlight your personal and corporate brand, publish articles, post videos, follow people, share interests and join groups. You can even see who’s hiring in your city. Stand out, and share your expertise.
Word of mouth is a fundamental marketing tool that’s long been considered the most effective form of promotion. In the second decade of the 21st century, hard sell, soft sell and persuasion are out. Successful real estate agents can attest that what works today is establishing trust and authority to build community, both online and in real life.