Wednesday, April 15, 2015

4 Guide Questions for Building a Real Estate Brand


Branding is a process that combines strategy and design to come up with a unique identity for a certain business. With effective branding, your business can stand out against the competition, increase your visibility, establish your niche in the industry, gain name recall, and eventually develop client loyalty. And these are only some of its perks.

If you're wondering how to go about branding your real estate business, start by asking yourself these questions:


1. Who is my demographic?

Who do you want to provide your services to? What kind of property or clients are at your disposal? Are your listings upmarket or affordable? Are you selling homes to families, retirees, start-up couples, young professionals? Or maybe you're brokering high-stakes investments in commercial property? Your target clients will determine your brand.

2. Who's the competition?

A competitive scan: it is essential to every business. Get to know who else is offering the same products and services to the same demographic. You don't want to be just a duplicate of another business. And of course, you need to know how to gain the upper hand among your competitors.

3. What can I offer that's different?

This is what will set you apart from the rest. You can determine what can give you an edge based on your business' strengths. Trusted service, for instance; quick turnaround; affordable rates -- basically, this is what you want your business to be known for. Ideally, you should be able to pinpoint what is lacking or nonexistent in the market, and then provide this product or service to capitalize on the opportunity.

4. What should be my brand's personality?

Your identity or personality should be designed to appeal to your demographic. This "identity" is implemented and most observable from how you communicate to your audience. Start by determining which traits you want to be associated with your brand. If you're selling suburban homes to families or retirement homes to elderly buyers, you'll have to be wholesome, approachable and personable. If your clients are upmarket investors of commercial estates, you'll want your brand to be formal, business-minded, and highly professional. Ultimately, these traits, your brand personality, will determine the manner in which you market, advertise, and communicate to your audience.


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