The year 2016 was not the easiest for the Canadian real estate industry. From downturns in regional markets to a scandal in British Columbia involving dubious real estate transactions, realtors are looking forward to welcoming 2017 with hope and in a positive light.
Realtor marketing is bound to prove a bit difficult in 2017 due to the aforementioned events. The housing market is not expected to rebound significantly in 2017, and some regions will feel the effect of lower home values in their local economies. In 2017, real estate agent marketing needs to shine across Canada; here are some ideas that should be considered when formulating a solid promotion strategy:
Form Partnerships With Financial Planners
It is up to professional organizations to elevate the profile of real estate brokers. This will not be easy in regions such as Vancouver and other parts of British Columbia, where a few bad apples were involved in a scandal that tarnished the profession. Canadian realtors need to learn from mortgage brokers who implement hyper local campaigns, and who tend to partner with financial planners who live in the communities they serve.
Traditional Marketing Methods
There is no question that many Canadians are deeply involved in social media; however, this does not mean that they have completely ignored other means of communication. Direct mail marketing is something that has been largely abandoned over the last few years; this means that traditional mailing campaigns could stand out really well at a time when no one else seems to be doing them.
Avoiding Common Marketing Mistakes
Marketing is not an exact science; realtors are bound to make many errors while conducting their campaigns. The two most common marketing mistakes include unreasonable expectations and a lack of business focus. Marketing success does not happen from one day to the next; it is a business practice that requires focus and consistency. Setting small goals before launching a new campaign can help realtors develop the focus they need to continue.
Sticking to Marketing Plans
Too many real estate professionals tend to set marketing aside when they are working on deals. Realtors who only think about marketing when business slows down are already behind the curve in terms of competition. Marketing plans that account for periods of low activity throughout the year are necessary for real estate professionals who wish to stay in business.
In the end, Canadian realtors who do not set a short-term goal for themselves in 2017 are bound to have a hard time creating meaningful business opportunities. Marketing plans should be formulated in December for the purpose of starting execution in January.