Real Estate Agent’s Guide: Hyperlocal Strategy

When it comes to prospecting for new clients, do you find yourself looking at your calendar and finding other things to focus your time on?

Prospecting and lead generation can be challenging and time-consuming. From the most experienced to the newest agents, it can be a struggle, and prospecting doesn’t have to feel that way. So how do you handle your prospecting? At Cole, we find most of our customers have success with their prospecting and lead generation by focusing on creating a  hyperlocal strategy. So, let’s break down how you can create a hyperlocal marketing plan today!

What is a Hyperlocal Marketing Strategy?

Let’s start by defining what hyperlocal marketing is. Think of hyperlocal marketing as a strategy that focuses on a targeted audience within a local area. By marketing to a specific demographic or localized area based on trigger events such as new and sold listings you are able to drive name recognition and letting prospects know you are in the area. So how do you get started? Evaluate. Look at your sales from the past year, do you notice any trends? Look at the demographics of your customers and the areas they are moving to and from. Try asking yourself some of the following questions:
  1. Demographics. Is there a certain age group you sold and listed houses with?
  2. Lifestyle. Did your customers have families  or where they downsizing?
  3. Area. Is there a new and upcoming area that your clients were moving to?
By defining your place in the market, your hyperlocal marketing strategy will go so much farther and you will be able to generate meaningful leads.

Why is Hyperlocal Marketing Important?

As a real estate agent, you want to be generating meaningful leads and reach your intended audience without spending all of your marketing budget on a single campaign. By focusing on a hyperlocal level, you will find your marketing budget will go so much further. Here are some tips to help you get started:
  1. Brand Awareness. Now that you’ve identified your marketplace, it’s time to create name recognition. Creating multiple touchpoints by sending out flyers, cold calling, emails or targeted social media campaigns you are driving your name into client’s minds so it’s your name they remember when they are ready to move.
  2. Social Media Marketing. COIVD-19 has changed the landscape for many businesses. With more people spending time on social, now is the time to start running ads.
  3. Create Specific Content. What is interesting and unique to the area? Give a shoutout to local businesses in the area and show clients what makes the area desirable to live in.
Real estate agents across the country are growing their hyperlocal marketing strategy with Cole Realty Resource. Brokers and agents can access the data they need to grow their sphere of influence, deliver high-quality leads, close more transactions, generate additional commission revenue and increase company profitability. Start generating more leads with Cole Realty Resource.

4 Keys to Prospecting Success in Real Estate

As a real estate agent, generating leads and staying top-of-mind is vital to your prosperity.

Whether you are a real estate agent with years of experience or a new agent just breaking into the market, prospecting can be challenging. Check out our 4 keys to prospecting success in real estate.

Key #1 Evaluate Your Business Plan

Business plans, they sound simple right? Many of us never actually take a moment to write our plans. Your plan could need some updating, maybe you got a promotion or you’re just breaking into the real estate industry. Whatever your reason is, now is the time to create a business plan that identifies your goals and your target audience. By doing this you are giving your business a chance to generate leads and keep yourself top-of-mind. Take 15 minutes and fill out our free Business Health Check.

Key #2 Create a Hyper-Local Marketing Plan

Hyper-local marketing is a concept that we highly encourage at Cole and is something you can start doing! Now that you have evaluated your business plan. How do you focus on those prospects and generate leads? Hyper-local marketing in real estate prospecting is all about marketing to a specific demographic or localized area such as new and sold listings or open houses is an ideal way to become recognized in the neighborhood. When starting your hyper-local marketing plan try creating three touchpoints such as sending out a flyer, creating a targeted social media ad campaign and follow up with a phone call. By creating these touchpoints you are driving name recognition into prospects’ minds which in turn will help you with real estate prospecting. Think of hyper-local marketing this way, when a prospect is ready to move or when you follow up with a phone call, it’s your name they remember because they’ve seen it in their mail, around the neighborhood or on social media.  This should be one of your main objectives when real estate prospecting because this will help you keep your sales funnel full.

Key #3 Prospect

Did you know over 60% of home sellers use the first agent that contacts them? By prospecting, you are taking that initiative and reaching out to a potential customer that could just be waiting for an agent to contact them. Here are a few tips, so you can start prospecting today:
  • In your schedule, try scheduling one to two hours a week aside that is specifically for prospecting.
  • Ask questions, that allow you to get to know a potential customer but also get a feel for the neighborhood.
  • Take notes during your conversations. This is vital because when you go back to follow up on a lead, you know what the last conversation was about.

Key #4 Mindset

We all know the real estate market is a highly competitive industry, with other agents trying to prospect, just like you. It’s all about staying top-of-mind and hearing rejection can be tough on the mind. When your schedule is jam-packed it can be easy to forget to take a break. Start with taking five to ten minutes each day to focus on your mind. Find a quiet space and focus on your breathing, this can help improve your mood and lower anxiety. In turn, you can focus better on your real estate prospecting. Agents across the country are growing their sales prospecting with a multi-channel strategy.  With Cole Information’s technology platform, brokers and agents can access the data they need to grow their sphere influence, deliver high-quality leads, close more transactions, generate additional commission revenue and increase company profitability.

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For over 70 years, Cole has been helping agents and brokers get more listings nationwide. Start generating more leads today with Cole Realty Resource!