Running rentals and investing in real estate is a business. Whether you do it full time or it’s just a side-project. Because of this, if you want to expand it and grow your wealth through real estate you may well want to consider building a brand identity. People react differently to brands which means you can utilize and capitalize on this.
A real estate brand identity is not only the face of your business and the services you provide but the overall perception that people have of your business and can trigger an emotive response from people who interact with your brand.
A well-built brand will establish trust, loyalty, authority, and credibility. On top of this, a great real estate brand identity has the power to set you apart from the competition.
The first thing to do is to figure out what everyone else is doing. Coming to the table fresh and without predetermined ideas is the best way to do this. Analyze what others are doing well, and importantly, what the are doing badly.
When you begin your branding exercise you want to make sure your brand isn’t in anyway confusable with anyone else's. You want to stand out and be unique. By analyzing the competition you may see an approach or niche that others have missed which could provide you with a unique opportunity.
As a real estate investor, you will be dealing with people from every aspect and part of real estate. From property managers to residents, and real estate agents. Each of these requires a slightly different method to handle and your brand identity should be inclusive enough to not alienate any of them.
You need to understand the specifics of each target audience and the niche you are going to be working with. Here are a few demographics and the importance of considering each when deciding your brand:
The residents of any property that you are purchasing need to trust you as a buyer; and importantly you need to understand how to find, and engage with prospective tenants and offer satisfactory customer service.
You will likely deal with property managers down the line in many respects. Whenever you do you will want to leave a professional impression. A quality brand identity will definitely help with this.
Real Estate agents are a great source of up to date industry news. They are powerful contacts to have and this should be taken into consideration when thinking about your own brand.
You may wish to reach out to direct lenders for future investments and having a powerful professional brand identity will help you make a good impression with this crowd.
Your USP is your Unique Selling Point. What is different and better about the way you do things when compared to your competition? This is the hinge that your brand swings on.
Focus in on a specific and deliver that specific perfectly - don’t try and be all things to all people. If you do you could end up with a confusing brand identity, and more importantly, you’ll likely end up unable to deliver the high standard and quality that you are trying to deliver.
This next step to building your real estate brand identity is all about defining who you are, and what you stand for. This will also likely include aspects of your mission statement and core values, which are usually defined in your real estate business plan.
The realization of your brand vision incorporates a number of different aspects. From the visual identity to the emotive backbone of the brand. Here are five key things to consider:
A short, striking or memorable phrase mainly used in advertising.
The symbol that is instantly identifiable as your brand.
This is slightly harder to understand, but your brand should have a consistent visual theme. A big part of this is the color palette and font family you choose which will be used across all your marketing materials and collateral, and help give a consistent look and feel.
When creating a brand it often helps to make a mood board of imagery, colors, and texts that you like the style of and that fit with your brand identity and target audiences.
Next is establishing your online presence. This goes for everything from your website to your email footer. Things to consider when establishing your online presence:
You should have a well-designed website that’s easy to use and clearly conveys your niche, your brand personality, and your services. It should also provide proof of your reputation, whether that be an endorsement, testimonials from happy clients and residents, or awards and certifications.
Different channels have different audiences and require slightly different approaches. It’s worth researching further the best practices for each and making sure spending time and money on all these platforms is going to be beneficial to you. Determining whether you should just focus on just one or two platforms to reach your desired audience may be more effective than trying to simultaneously grow audiences across all.
The main platforms to consider are Facebook, Youtube, Instagram, Twitter, LinkedIn, & Pinterest.
If you do decide to write blog content, provide content that is both valuable and reliable. It’s okay to toot your own horn from time to time by writing about an award or new property, but make sure you’re also publishing content that benefits your audience.
Promote your content across your social media channels. You can also use your social media to distribute company information or start conversations by sharing industry news or even comical memes. Just make sure you’re staying on-brand with everything you publish.
Organize your contacts and make sure you have a consistent system of interacting with current and future business contacts.
Your brand is all about how your customers see you as a company. When it comes right down to it, your brand is a way to convey your dedication to service, reliability, and quality. Everything you do to create that brand in the minds of your audience is just an extension of those values. And best of all, it will help you differentiate your business from the competition.
Make sure your message is consistent, get the word out in your community and just keep doing what you’re doing - and your brand will take on a living, breathing personality all its own.
Everything you do should be done with consistency across all channels and collateral. You will also need to constantly stay on top of your brand identity and always understand what you are working towards. Having a vision and a mission statement will help give you long term focus and identity, but as time changes and you
All of this isn't to say that you won’t rebrand down the line and whatever happens your brand will, more likely than not evolve over time.
As Entrepreneur puts it, “Your brand is the sum total of your customers’ perceptions, notions, and experience. It is the face, personality and the values espoused by your business — and everything in between.”
Your brand shines through in relationships with your customers. And it’s reflected in how you interact with your community.
To create a strong brand, document the goals and values of your company. Use them as a framework for everything you do, always deliver high-quality work and be consistent.
We hope you found this blog interesting! However, do note that it should not be used as a substitute for competent legal and/or other advice from a licensed professional.