Let us be frank from the start here, branding is never an easy straight forward task, as whoever dabbed in this sector can confirm. It is pretty hard to obtain a final product that can last, and to reach that goal you will need some assistance from the experts. That`s why we are here to provide the insight, the correct formula, our help and guidance for you to create your very own memorable brand.
What is Real Estate Branding?
In a nutshell, it is a tactic that realtors and brokerages utilise to communicate their mission, vision and values (MVV) to a targeted audience.
The main components of a brand usually consist of a logo, a tagline, brand colours, mission statement and overall design language.
An excellent memorable brand will help you to stand out from the competition, and possibly increase sales.
So How To Build a Brand That Lasts?
The process is fairly simple, believe it or not, however don`t let the simplicity fool you. As aforementioned, branding takes hard work and many start-ups do struggle, at least initially.
If you are serious about branding, we are listing below a step-by-step guide how to better achieve it.
1. Discover and Set Your Mission, Vision & Values (MVV)
Otherwise known in the sector as MVV, it is imperative to set these down first as they are the core of every great brand.
The Mission statement is a brief explanation of the organisation’s reason for existence. It describes the organization’s drive and its overall target. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders.
A vision is a vivid mental image of what you want your business to be at some point in the future, based on your goals and aspirations. Having a vision will give your business a clear focus, and can stop you heading in the wrong direction.
These are the set of guiding principles and fundamental beliefs that help a group of people function together as a team, and work toward a common business goal. These values are often related to business relationships, customer relationships, and company growth.
2. Collect Inspiration from Successful Real Estate Brands
Once you have decided about your MVV, the next natural step to build your brand would be to start exploring and study other successful great real estate brands for inspiration.
Commence by checking who are the local agents and brokerages you will likely compete against, and gather their branding fundamentals.
Moreover, branch out to franchises or real estate brands that are even outside of the real estate industry. Create your own file with centralised brand elements such as: logos, taglines, brand colours, social media posts, website screenshots, and any other brand elements that inspire you.
Now, when you hire a graphic designer, you can hand over your file to serve as a creative direction.
3. Create an Actionable & Realistic Timeline
It can take years to build your own reputable brand, but creating a timeline with realistic goalposts and targets along the way, is a crucial step in the process.
Ideally, set monthly or quarterly goals, which will give enough pressure to keep you going and stay motivated, without being overwhelmed.
Remember, building a brand can take a long time, however if you have a solid MVV, the rest of the process should go reasonably quickly.
4. Choose The Right Team
It stands to reason, that you need to on-board the right team of professionals with you for this voyage.
They say if you give a mediocre team a great idea, they will most probably screw it up, but if you give a mediocre idea to a great team, they will make it work.
This is why it`s crucial to hire the right professionals forming your team, who know real estate business, and who will help turn your brand`s vision into reality.
Tips For Building a Strong Real Estate Brand
We gathered some valuable tips to abide by if you are to succeed in the world of real estate branding:
- Originality – What makes you unique or special?
- Creativity – How do you want people to think and feel about you, when compared to the competition?
- Honesty – Create a brand that speaks the truth, and you will become the go-to source.
- Be Relevant – Choose the correct niche, the right clientele, who will feel and look out for your brand
- Consistency – Live every day by your cohesive message.
- Passion – Passionate people attract and drive those around them, making life at work much more fun and interesting.
Real estate is more competitive than ever, however if you manage to create a strong, consistent brand, it will be easier for you to innovate, reaching out for new technologies and business models, without diluting your original message.
Your brokerage is laying the foundation for future success, if you manage to build and tell a brand story which resonates with your real estate agents and clients.
Nowadays, technology and internet have made it easier to create branding than how it was before. In a way this has levelled the playing field for most. So, you need to be creative and consolidate an effective branding which will help you to stand out from the crowd.
Of course, there are more facets making up the real estate branding, which is vast and wide, like the difference to create a brand for your customers versus for your agents, how to publicise it via social media, or if you need a malleable brand to change at a later stage if you need to. On the latter, keep in mind that re-branding is risky, and there are many things which can go wrong, again a professional team will be key here too.
In this article we covered the essential fundamentals of real estate branding, which hopefully will make you better understand the works to establish your dream brand.