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Seth Price’s 3 questions for developing a real estate brand

03/08/2017

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How often have you considered the ways real estate branding and marketing could help make your real estate business more profitable? In this post, we’ll take a look at real estate branding and how you can establish an effective brand to make more money.

Established author, successful entrepreneur and fellow podcast host Seth Price sat down for an interview with Hiban to discuss how real estate agents can do a better job connecting with clients via their marketing strategies. To find success, the majority of agents need to build more effective brands.

According to Price, “Nobody wants to do business with a logo,” and this is something too many aspiring real estate agents fail to understand.

Avoid this trap; and before you put time, money and energy into a brand that might not resonate with prospective clients, ask yourself the 3 following branding questions.

http://traffic.libsyn.com/hibandigital/Seth_Price.mp3 Who do I want to model?

Getting started with business branding might seem daunting, but there are ways to simplify the process. The easiest way, perhaps, is to consider who you’d want to model your brand after.

There’s nothing wrong with taking a lesson or two from those in the real estate field or other industries who have already established effective brands.

By analyzing some of the successful real estate brands you identify with, you’ll be in a better position to develop your own brand that is both effective and representative of you and your business.

Who are my customers?

Unless you’re running a large-scale operation, your focus on branding should be on you as a person and not your organization as a whole.

According to Price, most people looking to buy or sell a home want to do business with an individual, someone they like and feel they can trust.

So, if you’re a home-town Realtor, your branding should focus on providing a certain level of familiarity that prospective clients can latch onto.

If your business is starting to scale beyond that, you might want to focus on branding your business as a professional organization rather than as an extension of you as a person.

What is my niche?

Developing real estate branding based on your unique qualifications and paired with a niche is one of the best ways to further differentiate yourself from the competition and connect with prospective clients who are most likely to need and benefit from your expertise.

Think about what you do better than anyone else in your market and build on that with your branding to generate more fruitful client inquiries.

Branding yourself as an expert, the go-to authority, in a real estate niche (probate, short sales, luxury real estate, etc.) will open many doors (real estate books, speaking engagements, etc.) for you and your business.

Once you’ve built the foundation for a solid real estate brand, you need to scale up its influence with something Price refers to as “recurring brand-building activities.”

In real estate, with 20 percent to 50 percent of purchasing decisions directly affected by word-of-mouth, the vast majority of your recurring brand-building activities need to have a personal impact on clients.

For most real estate clients these days, online reviews and referrals easily have the greatest impact.

If you can build your brand in a manner that communicates your commitment to client satisfaction via the reviews and referrals made by those you’ve worked with, you’re already well on your way to running a successful, profitable business.

For more tips on building a brand that will ensure the long-term profitability of your real estate business and additional ideas on recurring brand-building activities, be sure to listen to Hiban’s complete podcast interview with Seth Price.

Pat Hiban is the author of NYT best selling book “6 steps to 7 figures – A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny”, the founder of Rebus University and the host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital in Baltimore, Maryland. Follow him on Instagram or Twitter.

Email Pat Hiban

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