Casa Media - why-digital-marketing-in-real-estate-is-crucial
Tell us if we are wrong, but the real estate game lies in trying to reach the perfect customer for the perfect home, correct? We also know that consumer and shopping habits have changed during and after the pandemic : customers in many markets (including real estate) can be found online, and searching online.
However, the real estate industry, which is continuously growing in importance and interest, doesn’t seem to have an online presence to match right now – quite simply, it isn’t there yet in terms of digital marketing. In a field where building a strong network of contacts is crucial, focusing on changing this lack of investment is an easy fix that could make a world of a difference.
We know how hard the job is, and we want to help you make the most of all your efforts by showing you how you can take your business to the next level. Gone are the days of lawn side for sale signs – this is your sign to invest in a strong digital marketing strategy to set yourself apart and get to your consumers online.
What is the current state of the real estate market?
First and foremost, let’s quickly review the state of affairs of the real estate market, specifically in Québec. After all, we believe that only in understanding what’s happening now and what’s to come can we know how to properly prepare for it. In short :
- According to the most recent report released by the Canadian Real Estate Association (CREA), home sales started to increase in October 2022. This changes things up from August and September, where home sales registered on Canadian MLS Systems dropped by 3,9%.
- In the Greater Montreal region, the Gazette anticipates that the median prices for single-family homes will fall 12% in 2023 – this outpaces the 5% projected by the Québec Professional Association of Real Estate Brokers.
- This year, 73% of Canadians believe home ownership is the best long-term investment they can make. This is up from the 49% of Canadians who believed the same back in 2021.
What does it all mean? Jake, our marketing director here at Casa, gives it all a bit of context : “In 2023, we can expect more homes to hit the market, and house prices to decrease. Although interest rates keep climbing, Canadians still believe real estate is a viable option. With prices having previously soared during the pandemic as a result of higher demand, and lower offering, we believe this dynamic will change due to an increase in availability and more affordable prices.“
What is the current use of digital marketing in real estate?
As mentioned earlier, the way people search and buy in all markets has changed in the last few years. As such, house hunting had a more physical aspect in the past: people walked around, did open houses, etc. After a few years of social distancing and with the ability to do everything remotely, these same people are now asking for accessibility more than everything else – they have to be able to search, look up and visit everything online. Otherwise, you are at risk of losing their interest, fast.
With technology now playing a critical role in property searches, having a strong marketing strategy is absolutely vital to your success. Ultimately, to have customers that choose you and engage with your business rather than with your competitors, you have to ensure that you are where they are. And yet, the real estate industry doesn’t seem in any hurry to invest their time in their online presence.
Jake expands : “the use of digital marketing in the industry is mediocre at best. With a lull in the market characteristic of an upcoming boom in sales, now would be the perfect time for agencies and brokers to invest in their online side of the business. Only the big players seem to have realized this, and even then, the efforts they put in are still minimal.”
The real estate industry is unlikely to change: your competitors will remain fierce, and your customers will mostly remain online. However, one change you can make to beat your competition to the punch is putting the time in when it comes to having an unmissable digital presence supported by a strong marketing strategy. Yes it requires supplemental efforts, but doing it right can be a huge springboard for success – it can lead to increased brand visibility, lead generation and client retention (both on the seller and buyer sides). Basically, the golden ticket to being the real estate king of the online market is still up for grabs… You only need to have the guts to reach for it !
Concrete Ways Digital Marketing Can Help in the Real Estate Industry
Still unsure that you should be investing in digital marketing? Here are several ways it can make a tremendous difference in your business (for the best, of course)!
An Improved Online Presence
The primary goal of marketing is to make sure you are seen by the right public for your services to eventually increase your sales. In the same vein, digital marketing can then help you be more visible in the eye of your online customers. If they can’t see you, they can’t choose you!
- Generating More Leads
- Lead generation happens after you’ve been seen by the right audience. When the right people find your offer, they are more likely to be interested in purchasing your services. They will then visit your website, pages, etc… And be that much closer to becoming a potential buyer/seller with your business (which is a lead) ! Essentially, it will help you cultivate a network of soon-to-be clients, and as such, it is a short-term goal that can offer long-term benefits.
- Promotes Customer Engagement
- Digital marketing can help you understand your prospective customers’ behavior, which then gives you the ability to reach out to them with the right platforms, in the right way. Obviously, this increases their chances of responding positively to your business.
- Increases Brand Awareness
- This point is pretty self-explanatory : digital marketing can help you introduce yourself to new consumers so they will become familiar with your business, which builds your brand awareness.
- Provides Credibility
- Digital marketing gives you the online presence necessary for clients to come check up on your work and credentials. Not only that, but it proves you have something worth showing online, which reassures customers.
- Saves You A Lot of Time
- The digital marketing machine never stops! Once you have a well-established presence online, your client can interact with your content, or website, etc. at any time of the day. In short, it keeps on working for you, even when you’re off the clock.
- Educates Potential Customers
- By educating potential customers, we mean that digital marketing can lead them to learn more about your real estate business. It’s like giving them a taste of what they can expect from you, so that they too can see the value and potential that lies within your services.
- Gives You the Creative Freedom to Differentiate Yourself
- Digital marketing is not one size fits all – that’s the beauty of it ! The marketing strategy you put in place is entirely adaptable depending on your goals, the way you want to present yourself and the resources you have at the ready. On the flip side, personalizing your approach also ensures that you can be easily differentiated from your competitors.
- Helps With Client Retention and Referral
- Providing your clients with an online domain to return to simplifies their experience. It will also make it easier for them to refer you to their close ones.
Which specific marketing efforts should you focus on?
Feeling overwhelmed and not knowing where to start? Don’t worry, Casa’s here to pinpoint where we think you should concentrate your efforts first.
- Create a Website
- If you want to succeed in the real estate business, you should improve your online presence, and you can achieve this with the help of a professionally designed website. A website is inexpensive, and it has the potential of reaching a wide range of people from diverse backgrounds.
- SEO Ranking
- SEO content offers long-term benefits by growing your visibility online. This strategy includes critical elements like lead generation which assists your clients when visiting your website to look for information that can help them make informed decisions. It also helps them FIND your website, first and foremost.
- Memorable Branding
- Because it can create a memorable impression on customers, make sure you spend enough time on your branding. It will allow your potential clients to know what to expect from your company, distinguishing you from your competitors and clarifying what makes you a better choice.
- Build a Blog
- Building a blog can increase your SEO ranking all while positioning you like an expert in your field.
- Develop an Email Marketing Campaign
- Email marketing helps you build relationships with your audience and drive traffic to the online platforms you use. You can even segment and target users, which increases their chances of engaging with your emails.
- Employ Virtual Staging
- Virtual staging involves digitally altering photographs of a home. It’s a way of showing the true potential of a property to customers. As you can imagine, this not only increases your chances of closing transactions. It also presents your real estate business in a positive light: that of a technologically advanced company that seems to only have the finest properties on the market.
- Try Experiential Marketing
- This tip might seem counterintuitive. After all, haven’t we spent this entire blog post telling you to work on having a better online presence? The truth is, integrated marketing works better than independent disciplines. You can achieve greater successes when digital and experiential marketing are combined. Digital marketing can reach customers by making yourself known online. Experiential marketing can solidify your customers’ positive impression by having them connect with you through amazing experiences.
- Partner With Local Businesses
- Real estate is a social industry that thrives on networking. When you connect with a local business, you’re not only increasing your referral base, but also forging a partnership that can result in more business for the both of you.
- Run Paid Promotion
- Paid promotion is a cost-effective, yet highly efficient means of promoting your business. It targets potential customers who are most likely to respond well to your services. Evidently, this ensures maximum exposure for a reasonable price.
- Quality Photography
- An online audience is, understandably, primarily moved by attractive visuals. Add real estate on top of that, where you need to show your clients all the potential a property has to offer, and you see why having quality photography is essential to your success.
Sensing you are a bit out of your depth?
That’s what we are here for! With a multitude of services in the digital marketing field, we can help you reach your goals. All you have to do is let us take care of everything! Sounds interesting? Contact us and let’s make your real estate dreams come true.
06 February 2023