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Real estate strategies have life cycles and eventually become less effective. Many agents fail to recognize changing trends and continue with outdated strategies. It’s important to adapt and pivot to stay ahead.
Results may decline gradually, leading agents to hold on to old strategies in hopes of a turnaround. I’ll share trends that are no longer effective and suggest alternatives that are currently successful, leading to higher conversions and more closed deals.
1. Door knocking
While door knocking can still work, its effectiveness has diminished over time. There are more efficient ways to grow your business. The shift from door-to-door campaigning to digital platforms during the last presidential election is a clear example of this change.
Instead of door knocking, focus on reaching potential clients through YouTube, social media, and podcasts where they spend most of their time. Understanding your ideal client’s behavior is key to successful marketing.
2. Traditional Just Listed and Just Sold cards
While Just Listed and Just Sold cards can still be effective, the standard postcard format is often overlooked by consumers. To stand out, reimagine your marketing approach and make the people or process the focal point of your campaign.
3. Unedited listing photos from an iPhone
Professional listing photos are crucial for making a positive first impression on potential buyers. Investing in professional photography, drone shots, and videography is essential to present listings in the best possible light.
4. The 3 P’s of marketing being enough
The traditional marketing plan of putting a listing in the MLS, placing a sign in the yard, and waiting for buyers is no longer sufficient. A detailed marketing plan that targets prospective buyers actively is now essential for success in a competitive market.
5. Blog post lead generation
The effectiveness of SEO-driven local blog content for lead generation is on the decline. It’s important to adapt and explore new strategies to stay relevant in the changing real estate landscape.
The surge in users relying on ChatGPT to generate a high volume of SEO-optimized local content for blogs is saturating the effectiveness of this strategy for websites. However, a simple shift in where you publish these blog posts can enhance their impact. LinkedIn remains a strong platform for local blog-style content, with increased views and engagement observed recently. While the use of AI-generated video content is on the rise, personalized video content currently yields better results.
The evolution of buyer agency due to the NAR settlement has highlighted the importance of professional buyer’s agents effectively communicating their value. Waiting for interest rates to decrease can be a counterproductive strategy, as successful agents focus on controlling their daily real estate-related conversations and targeting clients with immediate needs. Adaptability is key for professional agents to thrive in changing market conditions.
Overall, staying consistent and making necessary adjustments in daily activities can lead to greater success in the real estate industry. Professional agents who embrace change and remain persistent are more likely to achieve significant gains in market share. It’s crucial to assess and fine-tune your daily practices to optimize outcomes.