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!