Why brokerages need to partner with agents to market all their listings
Do you run a real estate brokerage? Handle the marketing for one?
If yes, you’re probably now asking yourself, “Why should I care about marketing a listing? That’s the agent’s job.” If the agent wants to sell the property, they’ll put out the right social media posts, flyers, and postcards. If they don’t, then…that’s their problem. Plus, in this housing market, the listing will sell even if the agent doesn’t promote it.
Yes, it’s technically the agent’s job. Yes, the agent should have control over the process. However, if the agent doesn’t fully market a listing, it truly is your problem. It’s a brand-wide business problem.
Consider the idea that marketing a listing isn’t about selling the property: It’s about winning the next listing, the next client, the next referral. With that in mind, are you confident that your agents are taking the best steps to win future business? Do you support them with the best marketing content and processes to turn referrals into a repeatable, reliable source of leads?
Take this statistic into account: Only 9% of agents specifically market their listings on social media. That’s missing out on a huge, engaged, action-oriented audience. Staying out of the listing marketing process means real estate brands are leaving future dollars and expensive brand power on the table.
Adding fuel to this business crisis, both your top performers AND your not-so-top performers are out there using your brand to help validate a prospect’s decision to list a property with them. Every time an agent doesn’t deliver on the lofty marketing promises they made—every time they half-heartedly throw out a handmade marketing piece here and there with no strategy—they’re making an impact on your brand. A negative impact.
Truly marketing a listing to its full potential relies on a dynamic, collaborative relationship between a brand and an agent.
Truly marketing a listing to its full potential relies on a dynamic, collaborative relationship between a brand and an agent. Let’s dive into three positive outcomes that result when real estate brands closely partner with their agents to market a listing throughout its entire sales cycle:
Fulfillment of the Marketing Promise
To win a listing, one of your agents is sitting at someone’s kitchen table right now describing all the ways he or she will market the property. Your agent will talk about how the brokerage brand gives them a unique advantage over the other brands: better marketing processes, amazing tools, professional designs, stronger reach, etc., etc.
All that may be true. The sticking point comes after the listing has closed: After the agent has made all those promises in your brand’s name, it’s now completely up to the agent to deliver. Sometimes they do, and sometimes they don’t. The agent may suffer from lack of referrals in the short run, but it’s the brand that suffers in the long run. It’s the unfulfilled brand promise that leaves a bad taste in a client’s mouth.
Imagine a world where it’s not solely up to the agent to develop, post, and manage all the content needed to market a list. In this world, a brand anticipates each piece of digital, social media, and print content and supports the agent by creating and delivering each piece at the right moment. The brand has a say in design, type of content, timing of content, and more, and the agent doesn’t have to go through the marketing journey alone—especially when the agent has so many hats to wear when selling a listing.
Increased Brand Reach
Like every good marketing campaign, fully marketing a listing doesn’t in culminate in one email and one flyer. Sharing a Just Listed flyer might be all an agent needs to sell a property, but offering only one marketing touchpoint does your brand a colossal disservice in terms of marketing reach.
Let’s use a pop concert for an example. You might think getting fans to attend the concert is the most powerful result that the concert marketing can drive. Popstar JaneDoe’s success rides on how many people attend the concert, right? False. The marketing leading up to the concert and after the concert delivers the far-reaching results her brand truly needs. Only 500 people might attend the concert, but if 500,000 hear JaneDoe’s concert ad on the radio, listen to her latest single, follow her Facebook page, like the awesome concert video she posts, buy her next album, and tell their friends, that’s far-reaching success.
The same idea applies to an active property listing. Only 10 people will make a bid on the house, but if 500 see your agent’s Just Sold postcard, tell their friends about the dream house they saw, see your brand’s sponsored blog post on Facebook, decide selling may not be as scary as they thought if they work with your brand, and reach out to one of your agents to list their property, you’ve achieved long-term success.
It takes a full series of touchpoints on multiple channels to realize the brand power potential. That’s why it’s incredibly important to have agents market a listing throughout its entire sales cycle—and why partnering with them throughout the process is critical.
More Referrals = More Future Dollars
Now let’s talk about everyone’s favorite lead source: referrals. Brands should love referrals just as much (or more) than their agents. Every referral organically builds and reinforces a positive brand image at a much faster, affordable rate than advertising—no matter how many advertising dollars a brand invests.
Initially, you may think that achieving more quality referrals is out of a brand’s control. It relies on the premise that all of your agents have fulfilled their marketing promises and thrilled their clients. However, by setting the right support processes in place to help agents deliver on that marketing promise, a brand can dramatically increase the likelihood that an agent will wow clients, generate more referrals, and bring more dollars to the table.
In fact, we recently had one of our client’s agents win two referrals in an hour…simply based on the well-designed, cohesively-branded, multi-channel marketing materials he provided during an initial meeting with a client. Can you help your agents do that?
I’ll leave you with a few final questions: How important is your brand to your brokerage’s or franchise’s future success? What are you doing to protect your brand and build a marketing partnership with agents?
Meghan Cheeney, Director of Marketing at Imprev, Inc.
ROI-driven B2B marketer with a strong background in content, messaging, and sales enablement.