This article was originally published on the Home Value Leads blog.
Cross-promotion is a great strategy for real estate agents. If you have a network of different people in the real estate industry that you work with on a regular basis, then this will be a lot easier for you. If not, then it's time to start building up your network of contacts to grow your business. When you cross-market your services with another business, you are essentially sharing your audiences. This is a great win for you and your partner. Here are a few people to connect with right now.
Mortgage Lenders
Most home sellers want to know the value of their homes before they consider selling. Mortgage lenders are a great resource for this. By partnering with a mortgage lender whom you trust, they can provide a Comparative Market Analysis (CMA) to give to your leads. You can include their branding with something as simple as "This CMA generated by ____." You can also include their information on your website and on your social media channels. Your mortgage lender partner can return the favor by including your information on their website and social media, too. An added bonus? Do some blog posts for each other. You can provide the mortgage lender with statistics on your shared market area. Don't forget letters. If your mortgage lender plans to send out a communication like a newsletter, include a tips area with every issue that includes your information and photo. Keep business cards for each other to include in any packets or other collateral that goes out. Besides straight referrals, keep each other's information handy to share with clients when they have a question the other can answer. Send out a joint postcard or go in together on online and print ads.
Insurance Agents
First-time homeowners will be looking at home insurance for the first time. So a natural partnership is with insurance agents. In addition, they can promote your services to their clients. As with mortgage lenders, keep in touch with your chosen insurance agents and meet with them at least quarterly to discuss new opportunities. Have your business cards at each other's offices and handy for inquiries about the other's services for your clients.
Contractors
Often times, home owners need to upgrade their home. Thereafter, they may be considering selling their home in the near future. On the flip side, if you are connected with homeowners looking to sell or buy, they may need a contractor to perform work to improve their property. Getting in touch with such professionals is a great way to increase each other's client base and provides a referral network of trusted businesses, especially in the home improvement sector, that will add value to your services.
Post-Sale Bundles
Think of all the services that someone would need after they sell his home. Moving companies, furniture stores, remodelers, landscaping...the list is endless. You can advertise together, refer each other and even do a bundle that includes each other's services. When you send out letters to each other, include information on each other's invoices. You can include info in the "thank you" area that asks "What's Next?" Then include a bulleted list of the others' info.
Cross-Promotion through Shared Advertising
With all of these partners, you might consider going in together on an ad in the paper or a local magazine. You can also do a postcard mailer together. By doing so, you cut your costs in half and can help each other bring in new business for the either. Make sure you have a contract in place that covers both sides. If one of you will pay, include the total amount in your contract and that the other will pay his share at a determined time. Make digital copies of all items and have them for everyone to keep for record-keeping. With every partner, it is a good idea to use social media to promote the other or to guest blog on each other's sites. Using your social media or marketing schedule, determine the best time and what kinds of topics you or your partner can cover. Websites are a great place to include a page of partners, too. If you or your partner does not have one currently, starting one is a sure way to develop a steady network that can bring leads over time.
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