5 tips to make a splash in a new real estate market
From researching your target audience to using a solid mix of tools and creative content, developing a thoughtful marketing campaign will ensure that your brand stands out from the crowd.
Expanding into new markets can be an incredibly exciting time for a brokerage. Not only do you grow your business and your internal referral network for agents, but you also have the unique opportunity to present your brand to a new audience.
Developing a strategic and impactful marketing strategy is paramount when expanding into new regions and highlighting your brand’s key differentiators in your target markets. Here are some ways to be successful in your marketing when expanding your brokerage into new areas.
1. Prepare yourself
When entering a new market, it is important to do your research. Create a solid research campaign to understand your target demographic. What resonates with your audience? What marketing strategies and techniques have worked in the past and which have not?
Developing a campaign that reaches both agents and consumers is important when you present your brand to the market and highlight the reasons why agents would want to join your business.
2. Develop a marketing mix
Developing a powerful marketing mix to effectively promote your brand in a new region is essential. Having a strong PR strategy, a social media presence, as well as digital and print advertising campaigns will ensure that your brand’s presence is known across all appropriate channels.
Additional factors to consider include beautiful dressings and attractive signage on the new office space and the planning of exciting events, speaking opportunities and engagements that attract the local community and potential recruits.
3. Produce creative content
In today’s world, content is King. Developing creative content strategies across multiple channels that drive your brokerage’s expansion is a powerful way to start bringing your brand into new areas.
Secure highly visible advertising space on billboards, full-page ads in leading local publications, targeted digital advertising on key news sites, a dedicated social media campaign and the formation of strategic partnerships with influential local organizations are all effective ways to get the word out.
4. Add value to the local community
When you enter a new market, it is so important to immerse yourself in the local community. Make sure that you align with organizations that are having a positive impact and that your brand differentiators are creating beneficial change for the region.
Adding value to the regions and communities you serve is one of the cornerstones of successfully growing your business and your reach.
5. Stay hyper local
When planning a grand opening event for your launch, keep activations and prioritize hyper local when possible. It is essential to build relationships with other local businesses and provide a collaborative environment that shows how your brand will fit seamlessly into and bring the local community together.
At the recent grand opening of our second Pacific Palisades office, we worked with local vendors on our activations, which included an ice cream truck, floral bouquet, and large-scale games like checkers, jenga and cornhole for kids. families and children to enjoy while discovering our new space.
Overall, when entering a new area or region, it is important to have a holistic marketing campaign in place to leave a impactful mark. From researching your target audience to using a robust mix of marketing tools and creative content to create a splash, developing a thoughtful and organized marketing campaign will ensure that your brand stands out from the crowd.