Have you ever wondered why some real estate agents do well and others struggle?
How can a salesperson in one suburb write $700,000 in gross commissions while another one in the same area struggles to keep their job?
Why do some agents have vendors knocking down their door to give them listings, while others have to fight to win every listing and often have to cut their fee significantly to use price as their competitive advantage?
Tom Panos, Real Estate Coach and Trainer, talks about this a lot. He coaches agents to become Attraction agents, using the Attraction Business Model. This model has a basic purpose statement “It’s not who you know, it’s who knows you.”
Attraction agents are marketing based agents and know that brand is everything. Brand has two dimensions: reputation and reach. Reputation is critical. Reach is achievable. The good news is anyone can turbo charge their brand by having world class marketing skills.
Familiarity breeds liking
The more people see someone the more they like them. Known as the ‘mere exposure effect’, the simple fact is that the more frequently you are exposed to something the more positive you are likely to feel about it.
Becoming familiar is a necessary first step to becoming liked and accepted. You need to expose others to who you are, repeatedly, in a consistent manner, until you are clearly recognisable. The more potential vendors see you, the more comfortable they will be with you.
Having vendor paid advertising capability to advertise property, and your brand, in a consistent way is the fast-track to becoming an attraction seven figure agent.
And social media is the platform to turbo-charge your brand. Gone are the days when people spent their weekends reading the newspapers or had the time to read ‘junk’ mail from their letterbox. Social media is where the eyeballs are.
Social Media users in Australia and New Zealand are some of the most active in the world, with a total of around 60% of each country’s population an active user on Facebook, and 1 in 3 using Instagram at least once a day.
If a potential vendor had a list of local real estate agents to choose from, they would naturally lean more towards the ones they were more familiar with and had regularly seen their faces on their social media feeds rather than one they see for the very first time.
So to make yourself more approachable to potential vendors, make 2020 the year of ‘you’. Build familiarity with your local audience by consistently advertising your listings on social media. But don’t make the mistake of trying to do this yourself. You’ll waste buckets of time, and money. Enlist the services of automated platforms such as ListingLogic. You will never look back.
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