There are so many sectors where people invest to build their brand – consumer goods, entertainment, technology. A sector where there’s a dearth of major brands considering that it is one of the largest sectors in the world? Real estate. Quick – how many brands can you name in the real estate world? Donald Trump – great. Who else?
There’s a major opportunity in the real estate world for brands to emerge. Here are some quotes on the importance of building a strong brand in real estate.
On Brand Identity:
“A strong brand identity is one of the most important building blocks for any real estate business. Think of it as your company’s foundation.” Faith McGee
“A real estate company has to understand who their core market is… It’s all about having one voice that connects properties to people.” Mukul Lalchandani
“Rebranding is required when a company is not meeting its sales goals or does not see any growth. They are probably perceived as ‘like all the other real estate agencies.’ When you determine what your brand (unique selling proposition) will be, you must promote everywhere.” Greg Maka
On Revenue Growth:
“Build a strong brand – and you will make more money – and be able to charge more for essentially the same product. Branding brings anyone in real estate a major return on investment.” Elie Hirschfeld, Hirschfeld Properties
On “Why” Real Estate:
“The branding basics applicable to the real estate business are no different from branding in any other sector. The principles are the same, even if the applications are more specific and following the special dynamics of the business.” Jean Claude Saade
On A Unique Proposition:
“Real estate agents are in a unique position to have success through branding because they are their own products.” RealtyTimes.com
Your Name Forward:
“In the past, many people especially real estate investors only thought about branding their business. While that is certainly important, I have come to believe that it is vital that you also brand yourself. Over time you will get known in your business by your name.” BiggerPockets.com
To Brand or Not To:
“For each location where we were able to attain sufficient evidence, branded developments outperform non-branded developments, sometimes by a considerable margin.” Knight Frank
On Ultimate Differentiation:
“Some areas of the world are becoming overheated [in the property market and having something extra to differentiate oneself from competitors is becoming more and more vital.” John Hitchcox
Work in real estate? Consider spending on a Public Relations company – it will indeed make you more money.