It’s been a big and weird year, but the housing market has seen huge gains—with mortgage applications 33% higher than in 2019. Some digital mortgage firms have even seen up to a 40% increase in purchase applications.
As the real estate industry continues to move online, it’s more important than ever to embrace digital tools and channels to continue sales as normally and safely as possible.
Here are some ways to improve your real estate game in 2021.
1. Use email marketing for the best ROI
Email marketing is the most important marketing tool as it continues to be the highest performer, even when compared to emerging technology. Real estate email marketing generated $42 for every $1 spent in 2019! And it is the most common way that real estate agents keep in contact with their prospects and clients.
Your email marketing can even gather information on their leads based on how they interact with the emails. This way, you can better optimize your emails for higher conversion rates through personalized communication.
If you’re new to this, here are a few tips to help you get started: First, pick an email marketing software to organize contact information like Mailchimp or Hubspot. Then set up automated workflows, so the emails send without you. Lastly, design your email newsletters from a template. And you’re good to go!
Build your email list through social media and direct customer contact. Send your email subscribers information on new property listings, market trends, real estate advice, and company news. It doesn’t have to be too fancy, just use your expertise and your clients will be happy to have the knowledge. Include a strong call-to-action (CTA) to let the user know what to do next. Your CTA can be a link to check a new listing, request feedback, or simply ask to hit reply to get in touch with you.
2. Promote your brand through social media
Social media is much more than a place to post advertisements or listings. Over 84% of real estate professionals use social media marketing to build a personal brand, generate and communicate with high-quality leads, and network with locals in the community.
If you’re not already on social media, now is the perfect time to start! Since millennial homebuyers making up 33% of the market and 77% finding the home they purchase online, social media can be a golden opportunity for nurturing prospects.
Start by picking a platform, like Instagram. Post images and videos that will help prospective clients know both about the homes you’re listing AND you as a person.
3. Create captivating video content
Since 2016, the percentage of businesses using video marketing has increased from 61% to 85%. And 88% of these marketers have reported a positive rate or return, according to the 2019 State of Video Marketing Survey.
This year has proved just how important video content is to have in your back pocket. With more people staying home, agents can talk directly to their clients or prospects without being face-to-face to build strong relationships.
Here’s how you can get started: If you’re not ready to film and upload a YouTube video, Facebook or Instagram livestreams let you show off properties or speak with your audience to answer and ask questions. Webinars are another option. They are becoming increasingly popular and provide the perfect opportunity to collaborate and give updates on the local real estate market or to share general knowledge. Promote your webinar on your social with a Zoom call in. Make sure to leave time for questions!
4. Give virtual tours to your buyers
Virtual tours are the next best thing to in-person viewings and understandably their popularity has exploded this year. A May survey conducted by the National Association of Realtors found that 35% of realtors are noticing sellers rely on virtual tours.
Virtual tours are more than just photos. Potential buyers can take an interactive 3D tour to get a better understanding of the home’s floorplan and layout from the comfort of their couch. The best part is that you don’t even need fancy equipment to make them. There are apps like REVR and Matterport, that you can use on your phone right away.
Take advantage of real estate technology in 2021
Today’s homebuyers are looking for transparency, convenience, personalization, and speed. With the right tech tools, you can give your customers a seamless experience that they’ll happily rave about to friends.
We can help. Ribbon is here to deliver this experience by giving agents access to best-in-class tools and technology. Ribbon’s Cash Offer levels the playing field so that anyone has the opportunity to make their best offer and win their dream home. Ribbon will purchase your client’s first choice home with a contingency free, all cash offer. Once your client can secure a mortgage, we’ll sell the home back to them, at market value. A win, win for all!