David Aaker, in his book ‘Building Strong Brands’ defines brand equity as: “A set of assets (or liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) The value provided by a product or service…”
Real Estate Brand Creation refers to the process of repeatedly and effectively communicating a relevant message so that you will, in time, elicit the desired emotional response associated with your company by your targeted demographic. Brand creation is important because it can open doors to your products without much effort on your part. With time, a brand speaks for itself.
Having this in mind, we will provide you with 5 steps for you to follow to create your real estate brand.
Evaluate the competition
What are the current niches being covered by your competitors? Is there a condo expert? A “green” realtor? A Specialist in luxury mansions? Someone selling executive condos? Knowing what is already out there enables you to create a unique brand by exploiting opportunities that have not already been covered. The very last thing you want is your brand being confused with that of your competition. You do not want your prospects mistaking your competitors for you when they are ready to purchase.
Define your brand
Before you think about a name, colors or slogan associated with your brand, you have to ask yourself a few questions. These will help you through the process of defining your brand:
- Who is your target demographic? Are they young people looking to start a family? Are they retired? Are they celebrities? Do they have busy work schedules and are rarely home?
- What real estate services are they looking for? Which ones are the most common? Are there any premium services?
- What are the neighborhoods that will prove most lucrative to your business? Would you be better off branding yourself with those markets?
- What can you offer that your competition is not? This can be known as your signature service.
- What are your company values? What do you strive to achieve?
- How do you get new clients? Is it mostly through referrals from previous clients? That would mean that you have to maintain a network of clients that you have worked with.
Create your Brand
Having answered all the questions above, you are now ready to brainstorm around business names and slogans. Your name and slogan should be creative, meaningful and memorable. You can have your slogan reflect your company values or your work ethic. Make it short and catchy. If you are not a wordy person, you can hire someone you trust to come up with options for you to choose from. Make sure the person understands your business objectives. You do not want the words “Lame” or “Inauthentic” to be associated with your brand. They will turn off prospects fast. If you want your brand to outlive you, make sure you are systematic in creating it
Give a face to your brand
Think of any popular brand you know and you’ll immediately see it’s colors and logo. People are heavily influenced by visual appeal. Hire a reputable designer to design an appropriate logo for your company name. Choose colors that compliment each other and reflect your business qualities. Consider creating unique logos for your signature services too. Your logo should appear on all your documents. Once people get used to your logo, they will start to associate the color, shape, and wordings to qualities of your brand. You cannot afford to go wrong on this one because visual representations stick. It may be prudent to create a logo with a similar theme to the target market and the area you are operating from. Choose a logo that is easy to remember but also very unique so that it cannot be confused for another.
Deliver the brand
This is the final push for the brand, without which all else would be in vain. You need to push your brand to the local market. Every phone call should be tailored to include your branding in the script. Your documents, stationery, business cards and home signs should carry your brand. You will also need to give your brand an online presence. Create a website, blog, social networking sites and email address to spread your brand. Use your tagline as your email signature and upload your logo as your profile picture to expand viewership of your brand. One thing to remember here is that consistency is key. Promote one slogan and logo. Repeat your brand and over time, your brand will carry itself through both online and offline channels.
With these five steps and your effort to achieve them, you are assured of creating a strong recognizable brand that will propel your business.