Secrets to Successful Branding - The Law of the Generic

If, we, as the real estate community really understood the concept of branding and its importance, we would save a fortune by cutting the misplaced dollars we are spending in the name of "getting their name out there."

Most of us are re-treads - people who fell into this business and came from some other background. In 15 years of asking, I've only found one person who grew up wanting to be a real estate agent (and she is no longer in the business). I can't tell you how many people I've interviewed as a Broker that said the reason they wanted to be an agent was because they liked houses and people. If that is the sole reason they are here my advice to them has been - "Don't get started in this business because in 6 months you will hate them both."

Those that make it in this industry in today's world are those that approach it with an amount of business prowess. Unfortunately, that isn't taught in the "learn everything you need to know to become successful in real estate in two weeks" class. So, we throw the newbies to the vultures (vendors who sell BS products that do nothing but line the pockets of the vendors and serve as filler our nation's dumps). We let them sling mud on a wall and see what sticks and hope against hope that they will be one of the very few fortunate ones who will survive the first three years.

Over time, those that emerge as mega agents realize that to truly win in this you must realize that it is a business not a career (and there is a major difference) and start learning how to become the "RainMaker." Although we have dozens of proprietary campaigns to generate more leads, from time to time, we need to strip back to the basics and dive into the philosophy to align ourselves with the right thinking to launch our business to the next level. This week, it's all about how to brand effectively so that you may maximize your ROI in any marketing or advertising program your engage in. From Al Ries, a master of marketing and branding in the retail sector, we take the lessons and apply the fundamentals to our real estate businesses.

One Secret in Branding is the Law of the Generic

One of the fastest routes to failure is giving a brand a generic name. The generic is forgettable and will be attributed to something or someone else. You are much better off creating a word for a brand than using the generic - think Google.com vs. SearchEngine.com or Amazon.com vs. Books.com or Redfin.com vs. WebsiteBasedRealEstateCompany.com

In the world of real estate, our default brand of old is our high school headshot picture. We slap it on everything we do because someone back in 1985 told us that was the ultimate expression of personal promotion. Although, your picture does allow you to be unique (and unique used in this way is better for some vs. others) it also is inherently problematic as a brand.

I live in an area that has a predominate luxury agent. She has a large team and she has used her picture in almost every conceivable place over the years. I remember distinctly the day I got to meet her at one of her palace listings almost 15 years ago. As she greeted the agents who graced her broker open and introduced herself, I did not recognize her. In fact, I thought that she was in distinct danger of failing prey to a lawsuit over false advertising. All these years later, she still uses the same picture (that was heavily re-touched 20 years ago - and the years between now and then have been less than kind). She is handcuffed to that picture; if she changes it her brand will de-stabilize her brand and if she doesn't she will be increasingly held as dishonest. Either way she loses. Establish your brand and logo with longevity in mind. 

Want more? Give us a call to set up a strategy session with one of our marketing coaches!

If you are a Realtor® who enjoys working with families, have been licensed for at least three (3) years and have lived in the area you serve for at least three (3) years, we invite you to APPLY to become a PRC Council Member.

***Parent Relocation Council, Inc. is looking for Regional Directors for Utah, Texas and Oregon, if you know of anyone who has a great reputation within the industry, has been full time in the real estate industry for more than 3 years and has leadership qualities please let us know at chris@parentrelocationcouncil.org***