“What should I try?” This question is one that many agents have, but they don’t know who holds the answer — and most brokerages don’t have one person for them to turn to.
For a real estate agent who is either starting out and growing his or her business or stalled out and trying to take the business to the next level, there are hundreds of businesses that can help. Companies including lead providers such as Zillow and Smart Zip, ad campaigns, social media advertising, referral networks — the array of choices is vast and confusing.
There is a whole subset of networks, Facebook groups, blogs and review services dedicated to trying to make sense of it all. The problem is, however, what works in one area of the country might not work in another. And that doesn’t take into account questions of regional advertising, sponsorships and programs.
There are many support roles within a brokerage: transaction coordinators and office administrators to help with the transaction process, marketing professionals to create the campaigns and materials, trainers to help with learning company systems.
However, what most brokerages seem not to have in place is a media planner or marketing and advertising plan coordinator. Is this a blind spot for some brokerages that might cause them to fail?
Some agents will never need a service like that. They are organized and detailed. They can build their own plans. However, even the most confident and prepared agents still want to know if they are on the right track.
They are often hesitant to ask other agents in their office or the brokerage community because they want to keep their playbook private and might not feel comfortable disclosing what they plan to do or spend.
A media planner can provide guidance based on a comprehensive knowledge of what services are on the market as well as what has worked both for members of the same brokerage and out in the field.
Ideally, this person would also be able to explain the basics of creating a comprehensive advertising strategy at multiple budget points and break down how much should be allotted for print, media, sponsorships and more.
There is no universal answer for what works but having a point person in your brokerage who is aware of all strategies that your members are using as well as keeping abreast of the new technologies and services coming to the market will become increasingly important.
In some brokerages, managers are a trusted resource for this but as the industry gets more and more complicated and the amount of services available for agents continues to grow, having a resource like this might just be the job you never thought you’d create but that your team might need the most.
Deidre Woollard is head of communications at Partners Trust, a luxury real estate brokerage in Los Angeles. Follow her on Twitter @Deidre.