Most estate agents focus on lead generation, not realising that success with leads is a 3-step process. The process involves 1. generating the leads, 2. nurturing the leads, and 3. converting the leads. Each part of the process is important if an estate agent is going to find success and get the listings. Generating the leads is obviously important because if no leads are generated, then no listings can happen. Yet what most Estate Agents don’t understand is that the average incubation period from a lead being generated to lead being converted is between four to eighteen months. Recognising this, the 2nd step of nurturing the leads during the vital incubation period is vitally important. This then leads to the 3rd step, conversion. This is the process of guiding the homeseller into and through a successful listing. When you focus on all 3 steps, your leads then become your clients.
I believe to build a successful estate & letting agency business, the most successful way is to do it via branding rather than sales. I believe that building an estate agency brand is the key to long-term success, and that focusing on sales and quick transactions can lead to being forgotten. The main difference between branding and sales, is that branding focuses on creating an experience, while sales focus on conversion. (Note - branding isn’t your logo, office refit or new boards - it’s something completely different) The greatest companies in the world, like Apple, focus on branding by showcasing how their products will change customers' lives and building relationships rather than simply selling their products. So how does ‘brand marketing’ look in estate agency? Savills are the best imho when it comes to Estate Agency ‘branding’ marketing.( remember- when I say branding I dont mean logos etc ). They create content on the property market that all the national newspapers pub