BRER Real Estate Marketing Blog

Do you need a catchy name to represent your brand?  Should you use your name?  Should you use something that sounds like a real estate company?  These are all common questions about creating a real estate brand.  The answer?  It depends.

The most important thing to keep in mind is where you need to start when you’re developing a brand.  You need to start by defining your competitive advantages, market position, and USP (Unique Selling Proposition).  The most critical thing that should result from establishing your brand name is a concise definition of what that brand stands for.  Then, you can worry about what the brand name should be.

If you pass by a KMart, I’ll wager you get an immediate image in your mind of the type of products and service you’d receive if you stopped to shop.  If you pass by a Neiman Marcus store, or a Saks Fifth Avenue, I’ll wager the same thing would happen.  You’d already know those aren’t the places to go if you want a cheap set of kitchen towels.

And, it really wouldn’t matter if KMart was called RMart or Joe’s.  You’d know what to expect because you’ve been trained to recognize that brand and what it stands for.

The same thing holds true for your real estate brand.  You have to train your marketplace on what to expect from you as a real estate consultant.  And, that’s a bit difficult to do unless you have a clear definition of it yourself!

Try this exercise:  Get a piece of paper and a pen.  Write down one or two sentences that answer this question:  why should someone work with you as opposed to any other agent?

Now, look at those sentences and, being honest with yourself, decide if you think you’ve presented a compelling case.  If you haven’t, how do you expect to convince other people?  I’ve always found this one simple principle to have truly wide-ranging impact:

• You can’t sell something if you can’t describe it.

That’s not as silly as it sounds.  I’ve worked with lots of clients - in large companies and small - that can’t concisely describe what they’re selling.  When you’re very close to the product or service, you can get very caught up in all the features, functions and benefits of the product, and never really learn how to describe it in very simple terms.

So, my advice?  Before you worry about naming your business, figure out how to describe it first!

As you probably know, Point2 Agent is our top pick for template real estate websites.  Today, Point2 announced a new service called Point2 NLS (National Listing Service).  While I’m sure it will take real estate professionals some time to absorb the impact of the announcement, we applaud the fact that Point2 is taking a leadership role with this new service.

In summary, the NLS offers anyone who is licensed to sell real estate an opportunity to promote their home listings on a local, regional, or national basis. 

According to Brendan King, chief operating officer, Point2 Technologies, Point2 NLS will provide real estate professionals with  “complete control of listing assets, choice in marketing partners, wide syndication exposure, rich deep data, virtual tours for every listing, consumer empowerment and participation, no regional boundaries and, a drive to provide detailed analytics and return on investment (ROI) data on advertising investments across the network.”

From a marketing perspective, we like the concept because the information about a home for sale is under the complete control of the listing agent through their broker.  The home can be promoted much more effectively on Point2 NLS than it can be on a standard MLS listing for a number of reasons.  First, the Point2 service allows up to 36 photos to be displayed.  And, the description of the property is not limited as it is in most MLS systems.  Rather than just the facts, the listing agent can be creative in promoting the property in the most effective way possible.

However, Point2 is not trying to compete with MLS systems.  An MLS is responsible for managing the rules and regulations that correspond to the business and commission issues connected with the real estate industry.  Point2 NLS is purely an advertising medium.

Another advantage is that each listing agent will enter the same type of information in the same format.  This will eliminate the problem of incompatible data structures that make it challenging for information about listings to be shared outside of a specific MLS region.  And, it provides the real estate professional with wide exposure that they control.  This is particularly interesting given the number of Internet sites that now display information about listings with little or no regard to the listing agent’s marketing objectives.

It is not necessary to maintain a Point2 Agent website in order to participate in the Point2 NLS.  NLS listings can be entered for free by anyone licensed to sell real estate who has their broker’s agreement.  And, NLS listings can be displayed on any real estate website or blog.  The Point2 Agent press release provides a good overview of the capabilities of the new system.

I think this is a great step toward putting control over listing information directly in the hands of the real estate professional.  If you are interested in learning more about Point2 Agent websites, please feel free to contact us.  There are more reasons every day to evaluate Point2 as a strategic partner in running your real estate business.