Branding Moment: Why Brand?

By
Services for Real Estate Pros with Napa Consultants DRE00893924

Real estate marketing professionals regardless of their niche, often underestimate the importance of achieving top-of- mind status in a specific category.  

 

 

When you have a niche or a specialty, this becomes your brand.

 

 

Studies have shown that most humans typically hold up to 3 brands per category at most in their minds.  If you do not come up as top-of-mind in a category your market share or lack thereof, will usually reflect this important branding phenomenon.  

 

Try some 15 second categories quizzes to get more of the idea of how this plays out. How many brands come to your mind in just 15 seconds when you think of:

 

  • Smart Phones?
  • Cellophane adhesive tape?
  • Singing-only talent competitions on TV?

 

 

Our minds think in categories, whether it is products, services, plants, animals or entertainment.

 

 

That is why it is so important for you as a real estate marketing professional to stand out and become known for some specific niche within the minds of your target market.

 

 

We only have room for a few products or services in each category, at least from the standpoint of being able to readily recall the brand name.

 

 

The goal of branding is to achieve top-of-mind status in that short list of products or services within any given category. 

 

To stand out and reach the top of the list you have to make it easy for others to communicate about your brand to others.  

 

And the best part of having a branded niche is that you do not have to promote yourself all over the planet, or planets. You focus on your target.  

 

You just promote where the market is.  A brand saves you time and money.

Posted by

 

Written by Ron & Alexandra Seigel-

 

CAN YOU STATE HOW YOU ARE DIFFERENT AND BETTER   THAN YOUR COMPETITION IN LESS THAN 30 SECONDS?

 

 

CALL US FOR A COMPLIMENTARY CONSULTATION TO ASSESS YOUR BUSINESS DEVELOPMENT NEEDS. WE ARE HERE TO HELP YOU CREATE BUZZ!

—Ron & Alexandra Seigel, Managing Partners

805.770.1129

Click Here to Email Us

 

 

— Ron & Alexandra Seigel, Managing Partners 

 

Comments (59)

AndreaBFerreira CRS - SRS - CLHMS
Keyes Co. - Davie, FL
Miami Dade, Broward and Palm Beach County in FL

Well said, thank you for sharing and reminding us how important it is

Jul 22, 2021 05:08 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I love this line!  It is picture perfect

And the best part of having a branded niche is that you do not have to promote yourself all over the planet, or planets. You focus on your target.  

 

Jul 22, 2021 06:09 AM
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

Branding.  A must for us all.

Jul 22, 2021 08:43 AM
Matt Brady
Finance Of America - Del Mar, CA
One of San Diego's Best Lenders

SOmehow my niche became solving problems other lenders could not. It has made me very successful but I do really appreciate the occasional W2 buyer with 800 FICO scores and no other property issues.

Jul 22, 2021 11:05 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Ron and Alexandra Seigel,

Congratulations on a well-deserved featured post. The answer is only one or two brands come up in that 15 seconds.

Jul 23, 2021 10:29 PM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

My entire firm is in the process of rebranding over the next few months- not just for the firm- but providing agents with their own opportunities to rebrand with a platform for agents to easily upgrade. As NYC is frequently in the spotlight- so our our real estate firms. We are a newer firm, but we have already started carving out a unique identity of some of the smartest agents in the city often with past professional backgrounds to back it up (former doctors, lawyers, investment bankers, architects, digital marketers, etc) along with the real estate sales experience appropriate for our identity. Our rebranding will leverage that aspect. There are lots of firms throughout the city- with brands focusing on tech, luxury, neighborhood niche experts, etc. To be honest, I don't know what the true branding is for the largest firms in the city. The agent population and messaging varies so widely at these firms- they remind me of the Forest Gump line- "Life is like a box of chocolates, you never know what your gonna get". I have the research material for these large firms and the views of our internal marketing consultant- but even with viewing a matrix analyizing our competitors- I can only tell you what these firms are trying to brand themselves as- not how they appear in the real world. 

While my firm is extremely tech forward, our outward focus will be on our intelligence- and as advisors rather than a salespeople. I can't say that for a lot of the agents/firms that I come across in my market- despite the high profile nature of our location.

Jul 24, 2021 12:27 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Congratulations on a well-done featured post, Ron and Alexandra, that illustrates so readily the value of branding. The examples really help to clarify your points!

Enjoy the rest of your weekend!!

Jeff

Jul 24, 2021 03:46 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff Dowler, CRS Thank you for your kind words, we always appreciated them.  A

Jul 26, 2021 07:32 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Adam Feinberg I read and reread your comment, and I am not certain as to what you are saying.  However, competing on the fact that one's firm is superior to everyone elses means nothing!  It is what everyone else does...Being able and superb is the price of admission in any field, and besides that everyone can claim this asset or position.  

A brand is a differentiator, something no one else can claim, and that is the important part of a brand...the rest is fluff.  A

Jul 26, 2021 07:37 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Margaret Rome Baltimore 410-530-2400 I appreciate your comment, and it is true we can only hold one our two in our minds.  A

Jul 26, 2021 07:38 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Matt Brady I can understand that, and if we were buying in your area, we would be very simple to deal with...A

Jul 26, 2021 07:39 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Ginger Harper It is a must, but very few do it...A

Jul 26, 2021 07:40 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lise Howe Many are lured to butter themselves all over the universe, and cover all bases, which is impossible and a colossal waste of time and money.  A

Jul 26, 2021 07:41 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

AndreaBFerreira CRS - SRS - CLHMS Thank you for taking the time to comment.  We appreciate it.  A

Jul 26, 2021 07:42 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

I can entirely understand where you are coming from. In fact, I would be willing to bet that in almost all markets you would be 100% correct. We are a Manhattan centric firm. Everything about Manhattan operates differently than the rest of the nation while we are positioned specific to our market. Our agents are producing 8x more than the average agent in NYC because we aren't trying to be everything for everyone.  I keep getting newsletter after newsletter from agents throughout the city filled with terrrific information on buying and selling...for the rest of the nation- information that is determential to getting deals done in Manhattan. An example- co-op apartment buying and selling strategies don't align well with national messenging. Not only that- most lending in Manhattan is portfolio lending- not agency lending- which is what most of the nation is relying on.  In Manhattan agents are pretty deep in the weeds of a clients financial life (due to co-op's- which make up the majority of the inventory for purchase/sale) while agents in the rest of the nation just want/need their clients to either qualify for a loan or pay cash. 

 

It's not fluff in our market- but I could see how it could be in the rest of the country. 

Adam

Jul 26, 2021 10:00 AM
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR

Ron and Alexandra Seigel  So true, especially with all the competition.  Congratulations on the feature!

Jul 26, 2021 11:31 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Elyse Berman, PA Thank you.

Jul 26, 2021 12:16 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Adam Feinberg I think you misunderstood me on the subject of flubb, and we know all about the Manhattan market at least of as a couple of years ago...We have been in the luxury market place all over the country as well as overseas...Now you. are talking niches which is a great differentiator also...Anyhow, we wish you all the best.  A

Jul 26, 2021 12:19 PM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

Hi Ron and Alexandra Seigel,

No worries. 

I actually work a very different market than what is perceived when you hear Manhattan. Luxury, at least for Manhattan, is $4 million on up. While I have worked with clients at that price point- it's not the bulk of my client base. Most of my clients are Manhattan's version of the middle class - which is typically under $2 million, and most frequently under $1 million. 

Co-op's as well as all the other quirky product types we have here (Condop's, Land Leases, Rent Controlled/Stablized sales, etc) do require an entirely different analytic skill set not common in other markets and represent the majority of homes for sale in the city.  I often recommend that agents have a basic understanding of accounting skills to succeed here- as we are creating income statements and balance sheets for the majority of our clients as part of the offer. I am reviewing the buyer's financials- to see where I can strengthen the balance sheet and/or income statement- typically because the clients don't understand it themselves or realize how to maximize it for an offer (especially for business owners/self employed).  Offers, even when there is a bidding war, are often not about the highest price- but the most attractive overall offer because a co-op board might reject a buyer that has too high of a Debt to Income Ratio or doesn't have sufficient Post Closing Liquidity, or even a suffficiently long work history. I have won bidding wars for clients- with lower bids than other buyers- simply because the listing broker realized that I understood the building and the co-op board requirements better than the other brokers. This is what I meant that intelligence makes a dramatic difference in my market.  It goes beyond knowledge- but also the ability to present clients not only to listing agents as creative- but also the co-op boards themselves.

Jul 27, 2021 08:34 AM
Lynn B. Friedman CRS Atlanta, GA 404-939-2727
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Ron and Alexandra Seigel 
Good Evening! I love learning about Branding! At least five times a week, I think of you and Branding. Why so often? Because I am in the car so much and I see , well, shall we call them "wasted opportunities" all around. How about Wood. - yes, that's it. Wonder what do they do? 

On the plus side, I must admit, I often take pictures of the good ones I see for one day when I can share with you. Thanks again for the lesson - Lynn

Jul 27, 2021 07:23 PM