Last Updated on February 7, 2024 by Luke Feldbrugge
Marketing strategies for real estate agents and mortgage lenders can be a rather extensive list. In fact, everybody has an opinion on where to focus your time and dollars when it comes to marketing your services and expertise. In this article, we simply focus on the top five marketing strategies we believe will boost your business performance, enhance client engagement, and give you and your business a competitive edge in your local market. In addition, due to the long-term strategic nature of these recommendations, they will likely set you up for future innovation and business growth as well.
5 Marketing Strategies for Real Estate Agents and Lenders
Below we provide a brief video and a more detailed write up on each of the five marketing strategies for real estate agents and lenders.
Our Two Minute Tip Tuesday (TMTT) videos are part of a YouTube video channel created by Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist, that provides REALTORS®, real estate agents, loan officers and loan originators with helpful marketing tips and strategies to improve and grow their business.
Subscribe to the YouTube channel and tune in every Tuesday for a new episode at 9:00 AM Central Standard Time.
Here, Seth quickly covers 5 marketing strategies for real estate agents and lenders that we believe will help grow your business in 2024. If you prefer more insight on these five marketing strategies, keep reading past the video.
1) Make Sure Your Marketing Uses Hyper-Local Targeting
Hyper-local targeting involves tailoring your marketing efforts to specific geographical areas relevant to your business and the services you provide, often down to the neighborhood or even street level. You will need to leverage local market segmentation based on data analytics and geo-targeting to deliver highly relevant content to qualifying prospects in your market.
This strategy may seem like a no-brainer, but in the digital arena, things get lost. That’s why it is important to note this one as one of the top marketing strategies for real estate agents and lenders in 2024. Real estate is inherently local, and potential clients are primarily interested in properties and services within their immediate vicinity. By using hyper-local targeting, agents and loan officers have a better chance of delivering their marketing messages to the right audience, and increases the likelihood of engagement and conversion.
“Agents and lenders who create hyper-local content, and then also take the next step of using hyper-local tools and keywords specific to platforms such as Google, TikTok and Instagram; will separate themselves from their competition by getting their content in front of a highly relevant audience.” – Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist
Big Benefits of Keeping Things Hyper-Local:
- Increased Relevance – By focusing on specific neighborhoods or communities, agents can provide information that is highly relevant to their target audience, leading to higher engagement rates.
- Improved ROI – Targeting specific areas reduces wastage of resources on irrelevant audiences, resulting in better ROI for marketing efforts.
- Enhanced Credibility – By demonstrating a deep understanding of local market trends and dynamics, agents can build trust and credibility with potential clients, positioning themselves as the go-to experts in their area.
2) Automate Tasks and Processes Using AI Tools
AI tools and automation software can streamline repetitive tasks and processes, such as lead generation, email marketing, and client communication. These tools use algorithms and machine learning to perform tasks more efficiently and effectively than manual methods. Bottom line: Saves you valuable time to work more on serving your client needs better than anyone else.
“2023 was the year of artificial intelligence. AI dominated the headlines as we were introduced to new game-changing tools. 2024 is the year of execution.” – Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist
Big Benefits of Using AI for Automation:
- Increased Productivity – AI tools can handle repetitive tasks at scale, allowing agents and loan officers to accomplish more in less time.
- Improved Lead Management – Automation can assist with lead generation, lead scoring, and lead nurturing; helping to ensure that no potential opportunity falls through the cracks.
- Enhanced Customer Experience – Automation allows you to quickly and effectively personalize your communication with clients, providing timely responses and relevant information, which over time leads to higher client satisfaction levels and increased referrals.
3) Focus on Building Online Connections Over Clicks
Instead of solely focusing on generating clicks that generate website traffic, prioritize building meaningful online connections with potential clients through social media engagement, community involvement, and content marketing.
People crave authenticity and value in their online interactions. If you prioritize building connections over merely driving clicks, you can become a trusted resource and service provider that will genuinely build client loyalty, and long-term relationships in your community.
“As a digital marketer, I cannot imagine a world where we don’t value clicks. But for years, Google, Facebook and Instagram have been rewarding marketers who have a consumer-centric focus and use their platforms to create genuine connections.” – Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist
Big Benefits of Nurturing Online Connections:
- Stronger Brand Presence – Engaging authentically with your target audience online, you can build a strong community presence and reputation, keeping you top-of-mind when clients need your services.
- Increased Referral Opportunities – Building genuine connections online can lead to word-of-mouth referrals and recommendations from satisfied clients and followers.
4) Email Marketing and the Importance of First Party Data
Email marketing involves sending targeted, personalized emails to prospects and clients to nurture relationships, provide valuable information, and selectively promote your services. First-party typically drives email marketing. First-party data refers to data collected directly from clients and prospects through interactions with your website, emails, or other owned channels. Having your own first-party data that you’ve acquired from your prospects through your own means (website, events, etc) will be a must-have when cookies go away at the end of 2024.
Email marketing remains one of the most effective channels for nurturing leads and staying connected with clients, and first-party data is invaluable for personalizing email content and delivering relevant messages that are tailored to each recipient’s preferences and behaviors.
“Email will become an even more important marketing channel in 2024 as Google begins to phase out data tracking tools on their platforms.” – Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist
Big Benefits of Acquiring First-Party Data for Email Marketing:
- Personalized Communication – Leveraging first-party data allows agents and loan officers to segment their email lists and deliver highly personalized content that resonates with each recipient.
- Increased Engagement – Personalized emails are more likely to be opened, read, and acted upon, leading to higher engagement rates and conversions.
- Data Security and Compliance – By using first-party data obtained directly from clients and prospects (versus paying for lists), you can ensure compliance with data privacy regulations and maintain control over your data assets.
5) Become a Niche Expert to Build a Competitive Advantage and Client Trust
Instead of trying to be a jack-of-all-trades, focus on becoming an expert in a specific niche or market segment within the real estate industry, such as luxury properties, first-time homebuyers, or commercial real estate.
Or better yet, focus on your local heroes (first responders, military and veterans, healthcare workers and teachers) by joining Homes for Heroes and helping your local heroes save money when they buy or sell a home. Simply sign up today to learn more about how focusing your business on serving local heroes can set you apart from the competition and grow your business.
In a crowded market, specializing in a niche allows real estate professionals to differentiate themselves from competitors, establish themselves as authorities in their field, and attract clients who value their expertise and specialized knowledge.
“Agents and lenders who have a niche and use their specialization to both understand and address the pain points and fears of their niche, will be able to build trust with potential clients more effectively and efficiently.” – Seth Jeska, Homes for Heroes Senior Growth Marketing Specialist
Big Benefits of Focusing on a Specific Niche in Your Market:
- Reduced Competition – When you focus on a niche market, you face less competition and can become the go-to expert in your chosen niche.
- Increased Client Trust – When you demonstrate deep knowledge and expertise in your niche, you can build trust and confidence with clients; leading to stronger client relationships and increased referrals.
By harnessing the power of hyper-local targeting, AI automation, authentic online connections, email marketing with first-party data, and niche expertise; you can unlock a wealth of opportunity for your business.
5 Next Steps to Consider for Each Marketing Strategy
To begin implementing these strategies, consider the following next steps:
- Research hyper-local opportunities you are not using today. Look at both organic and paid online channels to determine if there’s something you’re not using today that could help you meet your 2024 goals.
- Invest in AI tools (time and potentially money) to learn how they work. Follow AI prompt professionals and influencers to learn tips and tricks to try with your own business, and begin to look at ways you can automate some of your repetitive tasks using AI tools and platforms.
- Prioritize authentic online engagement and content creation if you’re not. Move beyond simply posting listings. Leverage your existing connections and what’s going on in the community to build new connections.
- Look for ways to acquire prospect data. Ask yourself how you can better use your current tools, and what new tools may be needed to help you increase your first-party data? Then, optimize your email marketing communication using first-party data and automations to help keep you top of mind with your connections.
- Begin to strategically mention how you are focused on a particular niche, and begin to illustrate your expertise by sharing content and messaging that conveys your expertise.
By embracing these strategies and continuously refining your approach, you will position you and your business for longer-term success and the industry continues to evolve.
Join Homes for Heroes – Become What Heroes Want
Homes for Heroes can help you specialize in your market and grow your real estate or lending business by helping your local heroes buy, sell or refinance a home. You can offer them something special, something beyond the transaction, by saving them significant money as a way to thank them for their service.
Simply submit your registration and schedule a time to learn more about the benefits of being a Homes for Heroes local market specialist, and become the agent or lender your community heroes want to work with for their home and mortgage needs.
