Many small property businesses have strong referral and word of mouth. However, they can be difficult to maintain and pass on. Building brand equity gives your business a valuable extra value to both buyers/sellers. This can lead to higher levels of credibility, ease of referrals and justification for your fees. Your business can work with a real estate branding agency to ensure you know how to build brand equity and this will be based on your actions being consistent.
Your business will need to have high levels of brand awareness, perceived quality and credibility. This comes from having a clear promise, consistent branding and quality service. Businesses with beautiful marketing but inconsistent follow up will have very little brand equity as clients will ultimately be looking at what happens after their first meeting.
Independent brokerages, boutique developers and property consultants often compete on local knowledge but can find it difficult to be consistent with their message. Outside help is usually most beneficial when moving into new areas, offering a new service or finding that referrals are no longer filling your pipeline. If your business lacks a clear offer then working on your strategy will be needed before branding.
The process will usually start with researching how your clients and prospects talk about your business. This leads into a positioning statement and key messages. You will then have a visual and verbal brand including logos, colours, templates and tone of voice. Some projects include how your brand looks in your listings, signs and online presence. This will result in guidelines that your business can utilise independently.
A brand won’t help if your service and pricing aren’t clear. No agencies can guarantee sales. Small businesses should ensure that your partner will ask lots of questions about your market before offering solutions. They should have examples of similar local markets and clearly outline what they will do. Be wary of any large promises or bold statements. An honest partner will tell you what they can and can’t change.
Building brand equity can take time. Every time you are consistent with your listings, responses and handover it increases the perception of who you are as a business to the buyer. If branding is seen as a one-off design project then your assets will likely not last long. Having a documented process will ensure your decisions are consistent as your team grows. The best way to measure progress is through client feedback, referrals and repeat enquiries. Read more about Real estate social media marketing agency services