Realtors: Why use Referral Marketing
17 August 2018
To wrap up our Marketing Monday series, 5 Real Estate Marketing Myths that Cost New Agents Money, we’re finishing with one of the most common misconceptions of new agents:
Real Estate Marketing Myth #5: I will reinvent the wheel!
Throughout my career, I’ve seen this again and again with marketing and sales rookies. They jump into their new career with ambition and a head full of new ideas (fantastic!). Unfortunately, they also hold the misconception that everyone else has been doing it wrong up until this point (OMG, no!). Are you a new Realtor who has had thoughts similar to these?:
“I’m going to turn the real estate world on its head!”
“I’ll show all these old dogs new tricks!”
“These guys put in too much work. I’m going to find an easier way.”
“They’ll be asking me for advice when I’m top salesperson next month!”
Of course, any of these statements could be true in your case. Except, well, they won’t be. Not right out of the gate, at least. This is because, before you can successfully switch things up, you must first learn what should be changed, what needs to be improved and what you can drop from your marketing and sales strategy altogether.
Before you can reinvent the wheel, you must learn the mechanics of the entire vehicle.
As someone who has mentored and advised many new professionals, I’ve noticed a common thread. The best and the brightest are always keen to try new ideas, which is awesome! Unfortunately, they also tend to display micro focus, meaning they concentrate on one piece of a strategy, project, or system, without considering how it relates to every other component within the structure, which of course affects the overall marketing goals. In other words, when they try to reinvent the wheel, the car falls apart.
I can’t stress enough how important it is to learn and master core marketing and sales techniques, the ones that are time-tested and approved by those who are successful in the real estate field. And there are multiple ways to do this.
First, ask questions. You will be surprised how many senior professionals are more than willing to answer them. At Morris Real Estate Marketing Group, for example, we have an idea hotline to answer your real estate marketing questions as part of our Rookie Realtor® program.
The next approach is becoming a mentee. The obvious people to approach are successful, experienced agents within your network. You can branch out even further, however. For example, you can reach out to entrepreneurs in other professions.
Research shows that mentoring will not only help your career but also your confidence level and interpersonal skills. Research also reveals that multiple mentors are more likely to result in success, so don’t be afraid to ask multiple people.
Another avenue that you should take is research, research, research. What are the most successful agents doing? What real estate lead conversion systems are they using? Google is your best friend. Search for blogs, vlogs, videos, podcasts, sales and real estate books and more.
Once you feel you have a good grasp on the tried and true, you will find that you are in a great place to amp it up, incorporate new ideas and reap the rewards. You’ll be able to confidently say: “They’ll be asking me for advice when I’m top salesperson next month!”
I hope you enjoyed this article. Please check out the earlier articles in this series:
Real Estate Marketing Myth #1: If you build a website, they will come
Real Estate Marketing Myth #2: Buying Leads = Buying Sales
Real Estate Marketing Myth #3: Your Family and Friends Will Hire You
Real Estate Marketing Myth #4: Geographic Farming is Dead