What is Real Estate Branding?
According to Merriam-Webster, a brand is a class or good identified by name as the product of a single firm or manufacturer. It is also defined as a public image, reputation, or identity conceived as something to be marketed or promoted. These are two broad descriptions of branding, which explains why there can be some confusion about what branding means. It’s not uncommon for people to think of a brand as a company’s logo or slogan. However, today a brand for real estate is so much more. A brand is the way people perceive you and connect to your business: it is how people identify your business. Your brand is your company’s identity, your personality, and more. It can be your most valuable asset. Understanding branding takes some understanding of marketing, business, and human behaviors.
Elements of a Brand for Real Estate:
Your real estate brand identity is the visual representation of your business. The elements of a brand include the logo, slogan, tone and voice of the copy, color palette, fonts, and imagery. You use these elements on your website, social media platforms, packaging, and marketing materials. Think of your brand identity as anything you can see that will visually make your business stand out and differentiate it from the competition. These visual elements help communicate your company’s message and values. Your brand identity will affect how people view your business and how you position yourself in a market. For real estate agents, your branding is in part the company with which you have your license and in part who you present yourself as an agent. You cannot rely on the company branding alone if you want to be successful.
3 Reasons Why Branding is Essential for Your Real Estate Business:
- Branding builds customer loyalty: When a person connects to your brand, they build trust and become a repeat customer likely to refer your brand to others. A great deal of emotion can go into the buying process, especially in the home-buying process. Branding helps build customer loyalty by capturing your customer’s emotions. For Real Estate Agents, specializing in a specific niche will make your brand stand out and position you as an expert in that area. For example, if your main client base is first-time home buyers, you can create your brand to appeal to that market. Once you win over a first-time home buyer and land them their first home, they are likely to become repeat clients and refer you to other first-time buyers in their friend group, family, etc.
- Branding makes your business stand out from the crowd: Your brand is how people perceive you. Your brand lives in people’s minds and is the way they think of your business. Not everyone will relate to your brand; this is how you weed out people who are not a good fit and attract those who are the people who are your ideal client. Without branding, there is no way to differentiate you from the competition. An agent focused on catering to first-time homebuyers will have a different branding than an agent seeking a demographic wanting to buy luxury real estate. Your branding will help your customers feel connected to you and confident in using you as an agent.
- It generates new customers: People love the idea of new products or services but may be hesitant to try something new. Using branding to appeal to people’s emotions and their senses will help get them on board with having you as their agent. Branding your business will not happen overnight, but staying consistent in your efforts to build your brand will result in increased awareness and generate new business. A strong brand means a positive impression among consumers about the company. Never underestimate the power of a first impression. From digital marketing, direct mail, and in-person meetings, each is an opportunity to win new customers. People will pay close attention to how your overall branding makes them feel.
How Do You Build a Memorable Brand for Real Estate?
The most crucial part of building a memorable brand is to be authentic. Don’t try to copy other brands or follow what everyone else is doing. People will connect to your real estate brand because they connect with you, and the second you copy someone else, people will notice, and it can deter them.
Think about what sets you apart from the competition. What groups are you a part of, and what skills do you possess that can offer your clients a unique experience? Are you involved in the school systems in your area putting you at an advantage for families looking for housing in a specific school district? These little things help your branding stand out from others and connect the right people to you.
Think of a couple of household names, like Kleenex and Popsicle. When someone asks for a Kleenex, they are usually referring to tissue of any brand. The same goes for a Popsicle. These brand names have become so ingrained in people’s minds they have become generic household names. How did they do this? Kleenex and Popsicle made strong brand names by offering a great products and utilizing strong marketing campaigns. The goal of marketing is for your product, service, or business to be at the forefront of the consumer’s mind.
Many factors go into building a successful company, and branding remains one of the most important. Branding for real estate is not only an investment of your time but a financial investment. Think of the importance of branding just like you would in making a great first and lasting impression. You want your brand to stay relevant as time goes on. Remember to stay authentic and be consistent in your branding efforts!