We see so much marketing that is irrelevant and meaningless — it doesn't resonate with anybody. It's trying to be ironic, cute, and Instagram perfect.
But nobody really cares so these marketing gimmicks fail.
What do our potential clients care about then?
Learning something new — which will always make them stop dead in their tracks and consider your message.
That's the basic idea behind my "Educational Marketing" strategy.
Now let's think of it in terms of real estate:
Not everyone has an interest in real estate. Buyers and sellers usually only get interested right before they're ready to sell their home or buy a new one.
So when a buyer starts to think that they should buy a house, that's when they start to look at all the terms and processes around real estate. Or when a homeowner gets interested in selling, that's when they suddenly get tuned into the market conditions.
That's the power behind using "Educational Marketing" to engage people instead of doing the same-old boring marketing gimmicks everyone else is using.
I'm going to give you one example of this, but you can use it in a million different situations.
So, one example is talking about the concept of months of supply.
We talk about this in the industry all the time, but clients really don't know what it means. So what if you did a simple post saying something along the lines of:
"Hey, what does it mean when a REALTOR talks about months of supply, right?" (And you could even have a graph of the most recent months of supply for your own market or the national market.)
The national market is published every month by the economists at nar.realtor. You can find this information if you visit that site and go to the economist blog.
So you could pull down the latest month's graph, ask that question, and then answer it in your post with something like this:
"An easy way to think about the monthly supply is if every REALTOR stopped taking listings, how long would it take to sell off the current inventory at the current sales pace. In a balanced market, that would equal about 6 months of supply. When we start to get more of that, we get up to 7 months of supply and it can turn into a buyer's market because there's a lot of supply — or a lot properties buyers can choose from. Or if it drops below 5 months, it's more of a seller's market because there are less houses to choose from."
The key is relating this to what's happening in your market right now.
Right now, across the country, there's 1.9 months of supply — which is actually the LOWEST ever recorded by The REALTOR Organization.
Then, you could segue from this into your local market's statistics and give people a call to action to call, DM, or text you if they're looking to buy or sell their home.
And that's all there is to it!
But you capture people's attention with "Educational Marketing" by giving them something they don't know about the process or the terms or what's going on with the real estate industry.
This is just an idea for you to change the way you're posting and how you're promoting yourself on social media.
Now, if you think is a great idea, I'd like to invite you to check out The Path Performance Coaching Platform over at https://erealestatecoach.com.
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