In this day and age, real estate is a competitive business to be in. According to the Association of Real Estate License Law Officials (ARELLO), about 2 million real estate agents are licensed and active in the U.S. today. That means a lot of real estate agents to go up against for business wherever real estate is practiced.
An easy way to make sure that your business is up to snuff is to do a little reconnaissance work. This means doing some research on your fellow agents and figuring out what they are doing that can help your business, too.
As a busy agent, you no doubt have little time to schedule in time to do such extra work. But with a little ingenuity and diligence for a short period of time, ever so often, you can ensure your business can compete by learning from the most successful agents in your area.
Check Out Their Websites
Who are the most popular and prolific agents in your town? You might consider “spying” on those who have a number of yard signs and advertisements to start with.
Look at their websites, first and foremost. Check out their branding and what makes them hot and fresh. Perhaps they have a logo whereas your business does not. You can also read up on how they present themselves and the services they provide. You might not have exactly the same brand but can easily adapt what you have to offer by using other agents’ websites as a guide, presentation-wise.
You can also look at the information they include, meaning the pages of information that they present. An FAQ, strong blog, etc., might be just what you need, too. Speaking of blogs, how often are they posting and what kind of topics do they cover?
Check Out Their Social Media
Just as you would with competitors’ websites, what are the best brokerages and agents doing on their social media channels? What topics are they covering, hashtags are they using and specific topics are they highlighting?
Don’t feel like you have to copy another agent’s social media page to be successful. Their feeds can simply be inspirational for your business to determine what you should be communicating.
If they have strong reviews, too, then consider asking clients for testimonials and reviews as well.
Subscribe to Their Newsletters
We know what you’re thinking: Another item in your email inbox? You can always unsubscribe, but a newsletter is an intimate (and secret!) way to learn what other agents are up to. Observe their branding, voice and information that they are sharing with their leads and clients. How often are they sending theirs out?
Another useful tip you can glean from competitors’ newsletters are the email service they are using. Perhaps you like the particular style one has (read: good templates) or see a pattern of the most used email service that a lot of the stronger agents are using. Do your due diligence and determine if the same service would be good for you and how it specifically works.
By keeping up with what other agents have going on in their businesses and how they conduct them, you can figure out what upgrade your own real estate business needs and how to make it better.