7 Tips for Differentiating Your Real Estate Company From the Competition

7 Tips for Differentiating Your Real Estate Company From the Competition

It’s difficult to find talented real estate professionals, not because they don’t exist. Rather, this is because every brokerage and real estate company is also looking for the same talented people to join them. Thus, the onus is on your organization to set yourself apart from competitors.

The challenge here is effective differentiation, considering that all brokerages are essentially the same. To help you out, here are a few tips to make your company stand out and convince top-performing real estate agents to join you:

Research Your Competitors

You can’t differentiate yourself from your competitors if you don’t know anything about them. This is why you should start with thorough research before implementing any new strategies. Some of the things you might want to look at are the following areas:

       ●       Product and service offerings

       ●       Social media presence

       ●       Website design

       ●       Customer trust and satisfaction levels

       ●       Territory coverage

       ●       Compensation offers

All of these details can help you identify the gaps within your own system. With this information, you can then formulate better tactics. The bottomline is to offer something that your competitors aren’t or at least to do what they are doing but in a much better way.

Improve Recruitment Strategies

The key is to improve your recruitment strategies is to identify the challenges you’re currently facing, and then develop tactics to address those challenges. Many of them are identified in this link https://getbrokerkit.com/home/7-ways-to-improve-your-real-estate-recruitment/, including agent discovery and retention.

Some solutions include giving referral incentives, using digital tools to improve processes, and creating programs to ensure employee satisfaction. Another key area you should focus on is your brokerage’s recruitment mindset. You don’t stop “recruiting” an agent once they’ve joined your team. You should also be constantly recruiting quite literally. Always be on the lookout for those rising stars and keep them engaged. You might not have a vacancy for them now, but you can make sure that you’re ready to bring them in as soon as the opportunity arises.

Identify Pain Points

Admittedly, if you’ve been working for an organization for a long time, it’s easy to gloss over some of the pain points within. To help identify the things that might frustrate new recruits, go straight to the source: your employees. They know what they want to achieve and they most certainly know their difficulties as they work for your brokerage. Knowing these issues is one of the biggest steps into turning such frustrations into a defining point of your real estate company.

Ask Your Satisfied Clients

For an outside perspective, you should also compile feedback from your clients. Their honest assessment can help you trace problems within your brokerage, because customer experience is deeply tied to your own team’s experience. Indeed, your clients can better articulate your strengths and thus help you to further improve on what you’re doing right. You can’t just say that you’re great. This affirmation should come from others who have experienced this greatness.

Ensure Personnel Support

More often than not, what separates good brokerages from great ones is the amount of personnel support being offered. Support, in this case, doesn’t just cover their monetary compensation. Think about what you can give your people in terms of professional growth, work-life balance, and mental health. Encourage mentoring within your group and create opportunities for learning to help with career advancement. Meanwhile, simple things like a weekly beer night or a pingpong table in the office can make your agents’ professional lives a little lighter. Your employees are there to work, obviously, but you don’t have to treat them as mere drones.

Focus on Your Individuality

As earlier mentioned, what makes differentiation difficult is that all brokerages are the same. It’s a little hard to drive home the fact that you are, in fact, unique when your offerings are an exact match with your competitors. In short, you’ll have to find a different avenue to distinguish yourself. This is where your company culture comes in. Show to potential recruits what they stand to gain beyond money when they sign on with you. Social media is an excellent platform to showcase this. Use photos and videos but do make sure that they aren’t contrived. If you can, share candid content that truly evokes what it’s like to work with your brokerage.

Use Social Media Tools

Social listening is a valuable tool in community engagement. It’s also an important discovery platform when it comes to finding out what real estate professionals are looking for. Think of it as intelligence gathering to take a little bit of guesswork out of the equation. When you know what your potential recruits want, you’re better positioned to give it to them.

 

Another thing to remember when you’re trying to differentiate your company from others is that you have to be real. Don’t promise something that you know you can’t deliver. Instead, look at what you already have and work on improving them first. Your genuine desire to help will shine through and serve you well in recruiting the best people for your team.