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Three Marketing Challenges Real Estate Faced in 2018

Many real estate markets experienced some shifts in 2018. It was an eventful year for the industry. As real estate agents adjusted to changes in inventory levels, listing prices, interest rates, etc., they competed in a very competitive market. Most real estate agents have clear goals for their marketing strategies and leverage several methods with trial-and-error. Even the most successful agents experienced marketing challenges in this past year.

Lead Generation

Lead generation is a top priority for most agents but for more than half, it is the most concerning. Social media continues to be a major source of real estate leads. Facebook remained the most popular for real estate agents, but agents realized the value of other platforms in reaching different demographics. Instagram and Twitter have become increasingly popular for agents that they explore lead generation.

Converting Leads

Generating the leads is one thing, converting is another. With the increasing competition and abundance of information on the internet/social media, buyers and sellers are likely to contact numerous agents, making the follow-up very important. Reaching out to leads generated online needs to be immediate (within the hour). As the prospective client is using the internet for speed and convenience, they expect you to be “speedy” as well. Even for the busy agent, there are several ways to reach out to leads. Social media chatbots, like Agent Ai™ are a great way to reply immediately and increase conversions (just make sure your automation come off authentic, this is your chance to make a first impression)!

Measuring Marketing Performance

After putting all the time and effort into a well-thought-out marketing campaign, many wonder if the trouble pays off. The upside of marketing via the web and social media is there are plenty of resources to measure metrics. Things such as page view, bounce rate, and email open rates are easily tracked through the programs utilized.

Still, the most effective measurement is your bottom line. If your lead conversion rate and the number of sales closed saw a significant change, that is the indicator you were looking for.

As you look back on 2018 and evaluate your marketing strategy, keep note of lessons learned and remember, a new year brings new opportunities. Here’s to success in 2019!

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