Branding: just another buzzword
Realtor Notebook
By Teresa Boardman, Wednesday, October 21, 2009.
Flickr image by Ben+Sam.McDonald's is a great example of a brand. The company has a logo that most 2-year-olds can easily identify and I can't imagine that there is anyone in the country who doesn't know what a McDonald's restaurant is.
Most people don't need to "trust" the brand to buy a burger; it is just a burger, not a major purchase that will have an impact that lasts longer than a couple of hours.
When it comes to services, like the services that a real estate agent offers, I refuse to believe that people do business with a brand. I think they list their homes with people they know, not with brands.
If people did business with a brand I would be out of business, as I work with a brand that is very small and not well known.
The people who find me through the Internet usually can't even tell me which site they visited. The blog is the closest thing I have to a brand, but if I asked my clients what the name of it is I doubt they would remember.
Brands are impersonal, yet we talk about personal branding. I don't feel connected to McDonald's, and I can't see myself lurking on their Facebook page. To me it is just one of many mindless, money-grubbing corporations that I really don't care about.
Buyers don't choose to look at homes based on the logo on the for-sale sign. They look at the home because it appeals to them, is probably in their price range, and looks like it would meet their needs. They don't care about you, the listing agent, and they don't care about your brand.
They care about finding a home that suits their needs. It is the same with sellers: They just care about the sale of their own home and how quickly we can sell it. ...CONTINUED
All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.
You must login or register to post a comment.
Submitted by Jim Lee, Portsmouth New Hampshire Realtor on October 22, 2009 - 1:21pm.
I agree with you 100% Teresa, people buy 'you' not the brand, whatever it may be.
Works the same way with your doctor, when you need him or her you visit, CPA you see when you need tax advice, Attorney when you need legal advice, your favorite Raaltor when you need to buy or sell or just ask a real estate question.
No golden arches needed.
Jim Lee, CRS, ABR, GRI, NAR Certified e-PRO Trainer
Realty Executives Associates, Knoxville, Tennessee
www.KnoxvilleHomeCenter.com mailto:Jim@JimLee.com
(865) 693-3232, My Personal Toll Free # 1-800-662-2488 ext. 163
**********************************
Submitted by Lenn Harley on October 22, 2009 - 1:29pm.
I agree.
For me, since I rely on Internet advertising to genearate buyer business, the secret to my success has nothing to do with branding.
Personal promotion is obsolete.
Branding is lost in Internet searches.
Lenn Harley
Broker
Homefinders.com
http://www.homefinders.com
Submitted by Mike Parker on October 22, 2009 - 1:41pm.
Mike Parker
mparker@theblackwatercg.com
Dear Teresa,
I don't always agree with you but I could not agree more with you on this issue. When I hear "experts" telling agents to "set up two websites, one branded and one unbranded" I want to scream. The agent is the brand; the big realty company is overrated, the C21 model is bankrupt. In the days of this home buying paradigm, power has shifted to the savvy agent and away from the big name company.
Now, if only agents realized that and refused to buy in to the corporate marketing baloney.
Submitted by Riley Stephens on October 22, 2009 - 1:46pm.
Corporate identity is one thing, you as a "brand" is another.
You're building your brand by writing this article for Inman and projecting yourself as an expert in your field.
You project "brand" image in everything you do. If you pick a client up in a filthy car you're dramatically affecting your brand in the mind of the client. If you look sloppy and printed your business cards out on your computer this morning, you're projecting an image for you - the "brand".
Buyers choose to do things and purchase services for all sorts of crazy reasons. Don't underestimate the power of "branding" yourself.
Riley Stephens
Submitted by Dave "Utah Dave" Robison on October 22, 2009 - 1:51pm.
If only people knew what branding meant.
People do like brands. They will buy because of a brand. In n Out Burger is coming to Utah...and people are going crazy. They didnt have a friend or know someone that worked there. Maybe thats on the extreme side of Branding. I bought a Marriot timeshare in Maui because of the brand. I get phone calls daily because of the Utah Dave brand. My phone rings off the hook because of a brand. You know what? The clients calling in do business with agents on my team and they didnt even know them and many of them didnt even know me. My business is up 46% where our market is down 10%. It is a brand. The problem with branding isnt that it doesnt work....its that Realtors dont know how to make it work. (I had branding that literally was awful when I first started. I could have said it didnt work than.....but now I know the difference. Its nice to not have to cold call, or ask for referrals to everyone I meet. People call us. And they could just call you too.)
Your Friend,
Utah Dave
www.utahdave.com
Submitted by Matthew Dollinger on October 22, 2009 - 2:05pm.
Teresa,
I really enjoyed reading your post, however could not disagree with you more.
I have had this debate with a number in our industry and out, and continue to believe that personal branding is more important than ever before. "branding" isn't your name on a card, your logo, or your necessarily your advertising campaign.
My belief is that your personal brand is comprised of "brand values" i.e. the values of which you demonstrate (both personally and professionally) and that dictate your every action.
Your brand as an individual is more important than ever because it takes into account what I feel are your "true" differentiators. Every Realtor can search the MLS, Show you homes, put them in the MLS, (most) can navigate a contract, etc. Your personal brand allows you to not only differentiate yourself but show your clients HOW you do things differently.
That's just my 2 cents... thanks for writing.
MAtt
Matthew Dollinger
Performance Coach
@properties, Chicago IL
Submitted by Teresa Boardman on October 22, 2009 - 3:57pm.
Matt - I agree with what you are saying. I think we just look at the word brand in a different way
Submitted by Jay Thompson on October 22, 2009 - 4:27pm.
When I was with C21, often when we would meet a client for the first time face-to-face and they saw our card they would say, "Oh, I didn't know you were with Century 21".
Obviously they didn't care that we were. It wasn't C21 they were dealing with and clearly that wasn't why they selected us.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Cindy Jones on October 22, 2009 - 5:10pm.
I've never had a buyer or seller tell me they hired me because I was with XYZ company. It is because the "package" I present to them on what I will do to get their home or represent their interests in buying a home.
Submitted by jim canion on October 22, 2009 - 8:28pm.
Jim Canion ,Co-Founder
http://www.connectrealty.com
There seems to be unanamous agreement that the name of a big broker is meaningless as a real brand and means nothing as far as client relationships are concerned.Yet many agents today are reluctant to leave a name broker even though they see many others do so and thrive even in a down economy. There is much better support now available to individuals or teams that want to start their own business. By getting away from the bloated costs of a big franchise there is a much better business model that will provide a better chance to survive in this market.
It seems that fear of change and refusal to move outside a comfort level are the main causes of not making the move.In some cases a sense of loyalty to the company has been instilled so strong that even when it is clear that the old days are over it is hard to acknowledge. Even so,
I believe that the future is bright and our industry is in the process of undergoing a change that will embrace a new model of highly qualified,talented, professionals that don't need a big name behind them to be successful.Its all good.
Jim Canion
iconnect411.com
Submitted by Joan Kuptz on October 22, 2009 - 9:48pm.
It seems lately that “brand” bashing has become the latest and greatest topic of discussion. I have to disagree heartily with these bashers. It appears to me that all of these articles are trying to justify the writers’ mode of business.
I have been with RE/MAX for 20 years. My affiliation with this brand has brought me hundreds of thousands of dollars worth of income. Our office receives calls daily from people who want to buy or sell who say they called because “I sold my last house with RE/MAX” or “I see your advertising on the television” etc. Why does the website, RE/MAX. com get so many unique visitors and registrations for more information every day? By the way, the leads from this website are distributed to RE/MAX agents with no referral fee due. Why is the word RE/MAX one of the top 3 search words for real estate? We write referral checks to agents all over the country who are RE/MAX agents, C21, Coldwell Banker, other franchised agents and independents. Why do these agents call RE/MAX when they can call XYZ Realty instead? Because these agents want to get paid. Because they recognize a brand name that has a good reputation. Yes – a brand. Study after study has shown that more people choose to do business with a known entity - a brand.
I am sure that all of you are fantastic agents who give good service to your clients. Consider though how you really meet new clients. Everyone who has been in business for a number of years will always tout that their business is repeat and referral only. I have been licensed for 30 years and I still get new business from the RE/MAX brand. What about a new agent? There is no repeat business for them but they can get some referral business from a brand that would not be available at XYZ Realty. They generally cannot afford the cost of marketing that an established agent can. A brand does much of that for them.
The big brokerage model is not dead. True, changes are being adopted daily to increase efficiencies and profit. However, I have seen every week another small independent close. Who really knows they exist? Who knows how and where to find them? Our market in Las Vegas is dominated by brands. There must be a reason. How can one say that the power has shifted away from the big name company?
There is room for everyone but please enough is enough with the “brand” bashing.
Joan Kuptz, CRS,ABR,GRI,CDPE
RE/MAX Advantage
Las Vegas, NV
Submitted by Lane Barnett on October 23, 2009 - 11:50am.
Brand building is multifaceted effort. For agents it takes time,copious numbers of transactions, and tenacity to do so. Every market has well known teams,upper tier agents, or even bottom feeding HUD or REO specialists who I would suggest are branded.
Our brokerage has been a trusted company in mid Michigan since 1977 and we are contacted daily by phone and internet to recommend a qualified agent for a client who knows only of our reputation and our resources. Agents associated with our "brand" enjoy that halo affect which enhances their own brand building efforts. Why wouldn't you want to take advantage of that?
The tiny unbranded brokerages cannot begin to provide the environment for success that we can.
Lane Barnett
Tomie Raines, Inc.
Submitted by John G. Most on October 23, 2009 - 2:51pm.
It's unfortunate that so little is made about the value of a brand when people unconsciously and subconsciously make branded decisions everyday. We all do. Why don't you just order a soda rather than a Coke or Pepsi...why do you drive what you drive, eat what you eat and act the way you do in everyday purchases if brands don't have some impression or influence.
Discount the value if you will, but facts and research over the decades and decades prove out over loftily written blogs and rhetoric.
Consumers value brands that are real, authentic and add value. People are brands too. It's why you trust them...or you don't.
Real estate people who do not live up to the promises they make or fail to manage the expectations they set are doomed to fail because they've failed themselves--their own brand.
I've been fortunate to work on a lot of great brands in may career...including great real estate brands and I'll go to market (or war) anyday with a brand as my shield than without one.
John G. Most
President, CEO
Certified Brand Strategist
MOST Brand Development + Advertising
25 Enterprise, Suite 250
Aliso Viejo, CA 92656
www.mostagency.com