When the housing market starts to slow, it’s time to reevaluate your real estate marketing ideas. And today, we have 7 marketing ideas for real estate agents in slow markets.
In a hot market, practically everyone is a buyer or seller (or both!), so your marketing doesn’t need to be particularly strategic to be effective.
But we’re entering a downturn in many real estate markets across the country. So it’s time to tighten up and focus on the marketing strategies that are most likely to be effective in this new market. It’s time to learn about real estate marketing ideas specifically for slow markets!
Quick side note: We’re differentiating between marketing and prospecting. This is a debated differential, but we’re considering prospecting as reaching out to potential clients individually and marketing as reaching out to potential clients as a group. This post focuses on marketing ideas for real estate agents. If you’re interested in prospecting, check out these brilliant recession-proof real estate prospecting ideas.
And with that, let’s dive into our list of the Top 7 marketing ideas for real estate agents in slow markets.
1. Blogging
Blogging is the single most underutilized marketing strategy in the real estate space. Which is great news for agents who are willing to invest in a blog.
Here’s why blogging is so brilliant:
- Blogging regularly gives Google content to index from your website. This means Google has more opportunities to recommend your site when people Google things like Marina del Rey Realtor or Selling a home in Sterling or even Upcoming events in Lake Havasu. With every blog post you write, you get to choose your keywords and have a chance at ranking on Google for those keywords. This is known as SEO (Search Engine Optimization), and it’s magic! Learn more at Intro to SEO for Realtors®.
- It demonstrates your expertise and authority. When you’re educating your audience every week, you come to be seen as the local authority on all things real estate. Your audience comes to trust you before you even meet them!
- Blogging increases engagement with potential buyers and sellers. Publishing a blog post keeps you in front of your prospects and clients and gives them a chance to ask questions. Opening this dialogue is critical to earning new clients and repeat business.
- It helps you build your email list. Offering digital freebies through your blog posts (downloadable checklists, market reports, guides, ebooks, etc) gives readers an incentive to subscribe to your email list. They get some valuable information, and you get to grow your contact list!
- You can actually turn your blog into its own income stream. It may not replace your real estate income, but you can make passive money blogging about real estate when you post strategically!
- It’s incredibly cost-effective! If you already have a website, there is no additional monetary investment required to start your blog. And even if you don’t yet have a site, it’s easier and cheaper than ever to get a website. You can rent a website from services like BoomTown for a few hundred dollars per month, or you could build a website you actually own. Check out How to Build a Real Estate Website for completely free step-by-step instructions on building your own website. It’s easier than you might expect, and DYI-ing your site will save you thousands of dollars!
All these benefits, and yet so few agents are taking advantage of blogging! Why is that?
Here are the most common reasons/excuses I hear:
- I don’t know how. Well, at one point you didn’t know how to sell real estate either. You learn as you go. Here’s a post to help you get started: How to Crush Your First Real Estate Blog Post.
- I tried it, but I didn’t get any leads. First, how long did you give it? Second, did you post regularly? Third, did you promote your blog? It takes time for any new blog to gain traction. Like most marketing methods, blogging requires consistent effort over time. And in the beginning, you need to drive traffic to your blog while you’re waiting for Google to take notice. That means sharing your posts across social media and getting the word out about your blog.
- It takes too much time. Every investment in your business requires time, money, or both. And since blogging requires $0, it requires an investment of time. If you’d rather spend the money than the time, you can always hire a professional real estate blogger to ghostwrite your blog for you.
- I’m not a writer. That’s no excuse! There are lots of ways to have a killer real estate blog when you suck at writing!
- I don’t know what to write about. No problem! Just enter your email address below to get 100+ blog post ideas delivered to your inbox!
No one’s going to force you to blog. But I’m telling you, the agents who commit to blogging for a year are seeing more clients, more closings, and more money.
2. Social Media
If you’re super into social media, you can build your entire business around it. Some agents (yes, mostly millennial agents) are investing the time and energy to learn the algorithms, craft strategic posts, build their social followings, and generate 90% of their leads through social.
And social media marketing is one of the best marketing ideas for real estate agents in slow real estate markets because it’s so inexpensive. Even when you pay to boost or promote your posts, you’re still reaching lots of people with few marketing dollars.
Whether you decide to keep a basic social media presence or make it a cornerstone of your business marketing, check out DRIP by Key Real Estate Designs for fresh social media posts delivered to you every month and ready to post on your social media feeds!
3. Old-School Advertising
Old-school advertising is the classic way to land real estate leads passively. Think radio spots, park bench ads, and print ads. These methods are still very effective in many markets. But to make this one of our real estate marketing ideas specifically for slow markets, you need to tailor your message to the slow market crowd: expired listings, short sales, investors, and renters.
In a hot market, you might be able to throw together a print ad with your photo and a general tagline like, “Call me to learn how much your property is worth!” and you might get some leads. But in a slow market, you need to meet your audience with a message that will immediately appeal to them.
Take renters, for example. Many of them may not realize that buying can be more affordable than continuing to rent. And they might not know that there are ways to buy without having a full 20% down payment. So your marketing should explain that and entice them to contact you. Something like, “Hey Renters: Did you know you can own a home for less than the amount you’re paying in rent right now? And no, you don’t always need a 20% down payment. I can show you how to get a smart deal with a smaller down payment while property values are low! Call or text me at 555-555-5555.”
Your old-school ads need to be as specific as possible to be effective in this market.
4. New School Advertising
New-school advertising has a smaller reach than old-school advertising, but it’s also more personal and less expensive.
Examples of new-school advertising include:
- Clothing
- Mugs
- Water Bottles
- Laptop Decals
- Your Name Tag
Basically, you go about your business, but you’re letting people know that you’re a real estate professional at every turn.
Laptop decals are my favorite form of new-school advertising. Imagine, you’re sitting at a coffee shop, drawing up a contract (or browsing Pinterest, whatever), and people come up to you to ask how the market’s looking for sellers. That’s what happens when you have a “Real Estate Agent at Work – Open For Questions” sticker on your laptop!
The key to new-school advertising is this invitation to engage. Just having your logo on something tells people what you do, but it doesn’t necessarily invite conversation. If you’re going to use new-school advertising, invest in items that include an invite.
Here are just a couple of the best new-school advertising items I’ve found (all available on Etsy):
One last thing: I’m not a fan of car decals. Here’s why: no one is going to stop you at a light to talk real estate. Very few people are going to jot down your info or snap a photo of it while they’re driving. And if you make any mistakes while driving (real or perceived), you end up with road-ragers who know who you are.
5. Sponsorships
Sponsorships are a great way to advertise your real estate business while genuinely helping your community. It’s a no-brainer for real estate agents! After all, you’re all about the local community.
The traditional list of sponsorship opportunities includes classics like:
- Local sports teams. You chip in for the little league uniforms in exchange for your name on the back of the uniforms.
- Local events. Maybe you pay for the basketball hoop rentals for the community 3-on-3 tournament in exchange for your logo on the backboard.
- Local building projects. How great would it be to help your town build a new park and have your real estate business front and center at the dedication (and maybe honored permanently with a plaque on a bench or fountain)?
There are also growing needs for sponsorships in:
- Schools. You could sponsor a classroom and provide much-needed supplies for the students.
- Charitable organizations. For example, you could sponsor the venue for a fundraiser event.
- Summer programs. Many community park districts offer summer programs for kids, and many of them could seriously use some funding.
There are so many opportunities to get involved in making your community a better place to live, while also spreading the word about your real estate business.
6. Hosting Seminars and Workshops
Offering seminars and workshops is a great way to help buyers and sellers make smart decisions about their real estate investments while earning new clients.
Here are a few topics for your seminars/workshops:
- The First Time Buyers Seminar: Everything You Need to Know About Buying Your First Home
- How to Qualify for a Home Loan: Mortgage Finance Basics, Including Credit Repair Tips (co-host with your preferred lender and credit repair specialist)
- Renter-to-Homeowner (this is the seminar you host for free in your local apartment communities as part of your Renter-to-Homeowner Program).
- Foreclosure Investing Made Easy
- The Property Tax Appeal Workshop: A 2-hour workshop to help you appeal your property taxes and get your tax bill reduced! (By the way, if you’re an agent and you’re not making money from property tax appeals, you’re missing out!)
Offering the seminars for free is a solid option when your primary goal is to meet novice buyers and sellers. But there’s something to be said for charging for entrance to your more advanced seminars. You’ll probably still get a few solid leads, but you’re also giving away some industry insider information. And charging a fee legitimizes your seminar and increases the likelihood that people will show up. People regularly bail on free seminars, but if they’ve purchased a ticket, they will make every effort to be there.
As a general rule, the more specialized the knowledge, the more fitting it is to charge a fee.
7. Volunteer Projects
We’ve already touched on sponsoring elements of volunteer projects and volunteering your time to host useful seminars. But we can take volunteer projects further.
Why not create your own project for the community? It can be a one-time project, like rebuilding a home that burned down, an annual project, like a graffiti-removal day, or an ongoing thing, like making home repairs for your neighborhood’s elderly residents.
The primary goal, of course, is to make a tangible difference in your community. But these volunteer projects are also a great opportunity to promote your business and establish yourself as an agent who truly cares about the community and its residents.
You get to decide how much time and/or money you want to spend on your volunteer projects. The money can come from your advertising budget, but you might also want to set aside a set percentage of each closing specifically for your volunteer projects. And of course, you can ask other local businesses to sponsor parts of your volunteer project as well if you can’t afford the entire thing.
You can recruit volunteers from your sphere (which is also a good way to let them know that you’re doing good for the community), from local organizations, and from high schools and colleges with students looking to add to their resumes.
The opportunities here are endless, and you’ll be doing so much more than just marketing. That’s why volunteer projects are one of my favorite marketing ideas for real estate agents.
It’s Time for Action
Ok, you’ve just learned about 7 smart marketing ideas for real estate agents, now what are you going to do with this information? Are you going to just move on with the rest of your day? Or are you going to take some real action to move your real estate business in the right direction? I challenge you to choose at least one idea and do something with it TODAY.
If you’re serious about committing to one of these marketing methods, leave us a comment to let us know which of these real estate marketing ideas you’re committing to.
Get Your Complete Recession-Proof Guide!
If you’re serious about growing your real estate business during a slow market, check out The Recession-Proof Real Estate Agent. This book offers a complete step-by-step guide to recession-proofing your real estate business.
