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This digital marketing guide will cover everything you need to know about Real Estate Lead Generation in Singapore.
If you are ready to go “all in” to becoming a successful property agent, this guide covers everything you need to know for the year 2020 Real Estate Lead Generation strategies.
Let’s dive right in:
Nowadays, you will see many Property Agents use E-book funnel and/ or give away floor plans for a new launch as their marketing strategies.
These marketing strategies are commonly used as they are deemed as the “hot thing” to do right now.
Besides, it also lowers the cost per lead by a dramatic bunch.
If you are a real estate agent and all ready to plunge into this marketing trend, take a step back and ask yourself “How effective are these trending marketing strategies?”
Despite the attractive low cost per lead, many property agents soon realise that the ‘free-giveaways’ marketing strategies are bringing in low-quality leads.
Low quality leads could mean that your prospects have low or no intention to be your actual clients or customers.
In other words, your leads are cold.
This is because when you exchange free content for contact information, your prospects are not expecting you to call them or to even set up an appointment with them.
What your prospect expects is just that free e-book you have promised them.
“Don’t call me! I’m not interested!”
(Hang up phone…)
If you are already implementing the ‘free-giveaways’ strategy, you still have to nurture the leads before attempting to convert them.
The process of nurturing your leads is by turning them from cold to warm and then hot.
When leads are hot, this means that they are ready to buy.
You have to either send an email sequence or pump in more content in order to guide your leads to your ideal situation and that is – transact with you, buy something from you, or meet you for an appointment.
So instead of just giving away ‘free stuff’ that gets you low-quality leads and your waste precious time, work towards getting more high-quality leads!
Set your agenda right by asking your leads directly for an appointment instead.
Yes, it will definitely incur a higher cost per lead but at the very least, you will not be catching the buyers and sellers off guard.
Let’s imagine this scenario by putting yourself in the position of your buyers or sellers.
You exchanged your information for a piece of free content.
Out of nowhere, you received a call from a stranger and he asked you for a meetup.
Your defenses are definitely going to be high.
Even if you agree to meet up with the stranger, chances are, you just want to hear what he had to offer and would require time to “Consider First”.
But if, you exchanged your information for a piece of personalised advice, and in other words an appointment, this means you want a follow-up.
After keying in your information for an obligation-free appointment, you would be thinking “Hey you know what, yes there will be an appointment after that.”
Once you and your leads have a common understanding, you will be receiving contact information from people that are interested in working with property agents.
We are not saying that there will not be any fake or low-quality leads.
The endpoint here is to ensure that the majority of the incoming leads are more likely to be interested in scheduling an appointment with you.
Many agents in the real estate market may be unaware or not convinced with marketing strategies that incur a higher cost per lead.
One may be constantly receiving leads but does it really justify your time to filter the free and cheap leads you are getting.
All in all, we urge you to focus more on getting quality leads and setting quality appointments.
Share with us your experience on our social media platforms.
What sets a successful property agent apart from the rest is that they are able to adapt very quickly to the dynamic changes in the market.
Extracted from 99.co, Mr Lewis Ho, Managing Director at LHG Properties, said “I strongly believe that technology can enhance the online and offline experience of buying or selling a property.
Besides online exposure, technology can reduce the time and money agents spend on conducting research.
Agents can now access information on property and policies on-the-go as long as they are connected to the internet.
At LHG, I’m encouraging my agents to embrace technology and use it as a tool to their advantage.”
If you have no idea what the conversion rate is and how it affects your marketing efforts or marketing channels, not to worry.
In this topic, we will walk you through the calculations and digital marketing strategies.
Conversion rate is the rate at which your leads converts into your actual clients.
Most businesses operate on monthly marketing and advertising budgets.
As a busy real estate agent in Singapore, it is important that you set aside time to understand the numbers behind your marketing efforts.
Being able to make decisions based on data can help you to focus on what’s important – Stretching your Marketing Dollars.
This will come in handy when you are ready to expand into a new market, invest in advance technology tools, recruit a new agent, assistant, etc.
… if you just started out:
… If you have been in the industry for more than 1 month, use the following formula:
Number of leads ÷ Number of clients closed per month = Lead conversion rate.
You have 100 leads in the month of September and 10 of them become your clients.
The equation would look like this 10 ÷ 100 = 0.10
This means that your conversion rate is at 10% which isn’t bad at all.
Once you have obtained your lead conversion rate, learn how to reverse engineer the process and determine the marketing cost you need to invest.
Your revenue goal = Achieve $300 thousand (K) in sales within 1 year
Your targeted/ average earning from every client = $30K
Cost per lead = $30
$300 K ÷ $30 K = 10 clients you need to close within 1 year
10 Clients ÷ 10% conversation rate = 100 New leads you need to reach out to within 1 year
100 new leads x $30 per lead = $3,000 is the projected marketing cost you can invest within 1 year
Obtaining a projected marketing cost is a necessary investment to accelerate the process and reach your goals faster.
However, you should not place heavy emphasis on how the $3k should be spent wisely.
Rather, think about how you can improve your lead conversion rate.
With a higher lead conversion rate, you can invest more into your marketing cost which in turn, brings in more revenue.
You can even review and increase your revenue goal on a yearly basis.
So, what’s the typical lead conversion rate for real estate agents?
On average, the conversion rate for the real estate industry is about 10%.
This means that for an agent to close 1 client, he or she needs to reach out to at least 10 new leads.
In closing, digital marketing is all about testing and monitoring the results.
The more you know about digital marketing, the smarter and clearer decisions you can make about the direction of your marketing efforts.
If you require assistance with your digital marketing campaigns, be sure to check out our Facebook advertising services for real estate agents.
We hope that the information in this topic have been useful to you.
The real estate industry in Singapore has never been more competitive than it is today.
Thanks to the internet, smartphones, and the ever-increasing popularity of social media (like Facebook, YouTube, and Instagram), the real estate playing field has essentially been leveled.
You can’t just be the best salesperson, or just rely on traditional advertising.
To continue growing as an individual and close more deals, personal branding is a more effective strategy in the long term.
When you create a personal branding for yourself, it helps you to stand out from others, highlight the positive and professional aspects of yourself.
Commonly seen in the market is the “New Launch Angle”, as everyone, especially new buyers are excited about new launches and they are popular for the market.
It is the easy way for any real estate to talk about condominium ”X”, or condominium “Y”.
Some real estate agents even name their Facebook page with the name of the condominium (condo).
This strategy might be effective at first but it definitely does not have any long-term value.
A new launch generally lasts about 1 to 2 years before it becomes an old condo and then a resale condo.
After that, the branding that you work on for the condo will eventually fade away.
This is because close to no Singaporeans or anyone in the world will be loyal to a condo brand.
Will you be loyal to a condo brand?
The long-term value of the effort you invest in branding a condo will diminish over time.
A solid social media marketing strategy is needed more than ever in today’s world and we all know that digital marketing channels, including but not limited to Google and Facebook, are increasing their costs.
This has caused a huge problem for many real estate agents.
Many real estate agents have also realized that it is not worth their time and money to invest in a diminishing digital asset.
Rather, we recommend that you should consider not only branding the newly launched condo but also branding yourself as a person that can talk about these condos.
This way, people will come back to you as your audience or your fans.
They will see you as the person that knows about condos and associate you with branded condos that are newly launched.
Put plainly, personal branding is to market yourself in a way to advance your career in order to grow your business.
As you gradually create a recognizable identity through visuals and voice styles, you will be establishing a positive and professional reputation for yourself.
This can open doors to connect with more leads, building trust and loyalty with more people, and potentially close more deals.
A personal branding is beyond promoting a condo name on your Facebook page.
As real estate agents, you can talk about your brand and touch on topics that are relevant to your customers.
This way, it brings a more personal touch to the overall experience for the customer.
When there is authority and credibility in you, people are generally less skeptical and more comfortable.
No doubt that promoting just the condo can still generate sales.
But do consider building your own personal brand page as this is one of the more effective strategies in the long term.
It is important for real estate agents to look into not only putting effort into branding new launches, (which uses the condominium’s name) but also branding yourselves.
That is because it is an easy way to work on the branding of the condominiums but it does not come with a long-term value.
Digital and social media marketing costs are seen increasing everywhere.
Before the cost reaches its peak, start to brand yourself as a person who can talk about the new launches.
Check out our article ‘Beginner’s Guide to Social Media Marketing in Singapore‘ to learn more.
Alternatively, share with us your thoughts with us on our social media platforms.
You may have seen a lot of advertisements (ads) on Facebook such as:
“Sell your HDB and buy 2 condos for a secure future in Singapore!”;
“You can upgrade from HDB to a condo with the same salary! It’s Easy!”;
… and so on.
Do you know that at this very moment, while you are reading this article, about 94% of the entire Singapore population are exposed to ads every second?
This means that thousands of Singaporeans are looking at an ad right now.
Everybody is seeing ads.
What makes your ad different from everybody else’s?
This is the question that you need to answer as a property agent in a competitive market right now.
‘Upgraders’ (referring to homeowners that have upgraded or planning to upgrade their property to a higher tier property.)
Most Singaporeans may have their first home in an HDB flat, but it may not be their “forever home”.
As their lifestyle changes and purchasing power increases (or shrink), most of them will move to a second or even third home in the course of their life.
There are many reasons for Singaporeans to upgrade their first HDB flat and here are some common ones:
Many property agents are buzzing around the ‘upgraders’ market these days.
But what is the difference between you and the other 20,000 real estate agents that are targeting these ‘upgraders’?
Sure, you may get referred or recommended by friends or family.
But it may not be as sustainable as you think it may be.
You are relying on the fact that you might possibly be referred, which is not within your control, even if you ask your clients for referrals.
Here’s the thing, the secret to stand out in the market is making yourself very unique and very niche.
This is where you are a specialist in certain areas of property and buyers or sellers will see you as the expert in that field of specialty.
Just like anyone with an eye issue for example.
They will not go to any doctor but a doctor that specialises in the eye – an ophthalmologist.
Brand yourself in a manner where people (especially the ‘upgraders’) remember you for a particular niche.
Yes, you can still target the ‘upgraders’ because there are so many types of ‘upgraders’ you can niche down to.
Property – HDB owners that would like to upgrade to a condo;
Estate – a condo owner would like to upgrade to a property in the Bukit Timah estate.
For instance, you are a real estate agent that has always been doing very VERY well with the Bukit Timah estate.
And for some reason, you have the expertise and all the market knowledge about the Bukit Timah estate.
Good for you!
The Bukit Timah estate is a good niche for you to enter!
If you are using video marketing, you can teach people how to upgrade their property from anywhere in Singapore into the Bukit Timah estate.
This, my friend, makes you extremely unique in the market.
For a certain class of buyers and property sellers, they will definitely go to you if they want and they aspire to go into the Bukit Timah estate.
It is unlikely that they will go to the other 20,000 real estate agents that are targeting on the generic ‘upgraders’ (in other words, no specific target audience).
All in all, having a unique expertise actually matters in the market now because everyone is constantly being targeted by property advertisements.
We hope that you will consider this tip seriously and actually use this strategy.
When you build your branding right, you will eventually get more buyers and sellers.
Share with us your thoughts with us on our social media platforms!
Real estate social media marketing is an effective marketing strategy in Singapore.
It provides online exposure for you, your brand and your properties.
Any real estate agent can easily implement social media marketing but not every one of them knows how to utilize the right tools, insights, and information.
In this topic, we will talk about how you can create effective and quality social media content to help you dominate your farm area.
If you are an agent and not using social media, you could be missing a huge piece of the pie in market share.
In the past, most real estate agents implement social media marketing to obtain more leads and advertise their brand or the condominium’s brand.
But, times have changed.
Right now, social media marketing is more than that.
It is a platform to reflect a genuine expression of who you are.
Your opinion matters and people want to see an actual person, or rather an expert, that is attached to a brand.
When you position yourself right, it is definitely well within your capabilities to build your social following and be the go-to real estate agent in your area.
Also, check out “How Successful Companies In Singapore Run Their Social Media Campaigns”
Don’t just copy a link or an article from The Straits Times or The Edge Property and then post it on your social media.
Anyone can just share pieces of content on social media.
So what makes you stand out from the others?
The share-and-post articles/ links will likely be overlooked or even ignored by your desired audiences.
Do talk about specific and helpful topics that are relevant to your audience when you repost an article or a link.
You can also craft a topic in a way to help you sell a property to your audience.
The bare minimum is to write a commentary on why do you think the content within the article or link will affect the property prices.
Now, this is a specific strategy you can do it up in top form.
“So what can you talk about on social media?”
“What content should you produce?”
You might be thinking of the above questions now and the answer to those are simple.
Produce content that showcases your expertise.
Here are some of the topics you can post on the social media platforms:
Based on the topics, write a comment on how it will affect your clients/ buyers:
Property is a huge investment for most Singaporeans and there are just too much information for the buyers to consume.
They need constructive advice to help them make decisions that are not made on impulsiveness.
By positioning yourself as an expert, your audience appreciate your opinions, suggestions and recommendations.
Your comment matters and the buyers do care about what you say.
Start by creating at least a 100 to 200 words of commentary and then create videos.
Even if your content is a selfie video talking about a particular project at the HDB hub (or somewhere else), it is better than nothing.
The objective is to create an online presence of yourself on social media.
At first, your audience may see you as a property agent providing helpful and useful recommendations and advice.
Once you have piled up these pieces of content over a period of time, you are branding yourself as the expert in real estate.
If people are looking, for example, a new launch and you have been actively sharing topics on cooling measures, new launches case studies, you will be seen as someone that is very knowledgeable about new launches.
Eventually, the buyers will come to you.
When you say something and you say it often enough, people will recognize you for that piece of information.
Some readers may feel that content creation on social media may be a more intuitive strategy as compared to other types of marketing strategies.
Nonetheless, if you have used a strategy that has gotten you great traction and maybe even sold a listing, share with us on our social media platforms!
Our Facebook page has a community of like-minded individuals to help each other in digital marketing.
How does one go about finding what kinds of real estate videos work to work on, especially with today’s social media platforms?
When it comes to building up your brand and getting sales on social media, content videos should be your main priority.
With Facebook and Instagram, you could find yourself creating the wrong kinds of video content that do not suit your respective platforms.
Are you creating marketing videos in black and white or are they more cinematic?
If you are creating more cinematic videos, you should be looking to post these videos content on platforms with the audience that enjoy long-form content such as YouTube.
This is because bite-sized pieces of content are generally better on social media, where it’s easier for your audience to consume the content.
How should you go about finding out what topics to talk about in your content videos?
Here are some tips to help you get started.
You can talk about:
For example, your video content could be about:
These are all specific information that property agents can utilize rather than take for granted.
So, start creating video content that is less about corporate branding.
Your video content should be more about specific topics that can benefit your customers and audience with advice that they will find valuable.
As a property agent, you should know all of the information specific to different properties.
This opens opportunities for you to build your branding because your customers and audience may not know what you know.
They might not even know what are the information that they need to know.
For example, one might not know everything about HDB rulings or condominium rulings.
Because you are a property agent in the market everyday, you can provide essential information straight to your customers.
By producing targeted and useful pieces of content for your social media platform, you can build up your brand.
This way, you can become the solution for your customers whenever they have a specific problem that needs solving.
Because you have the answers, and they respect that your knowledge on the delivery of information, they know that you will give them the best advice possible.
Have you been producing the right video content for the right social media platform?
Or have you been producing content that does not suit the specific social media platform?
Share your thoughts about this strategy with us on our social media platforms!
As a Property Agent or Agency that has an exclusive on a property development, you might be wondering what is the most cost-effective property development marketing strategy.
Or what should you produce on your social media so as to be able to market on that particular development?
Marketing strategies for real estate developers aren’t just as simple as blindly throwing money at Google and Facebook anymore, and these marketing strategies might not be as effective.
With the high volume of Property Agents in Singapore that are focusing on Google Pay-Per-Click (PPC) advertising, it does not make sense for you to compete for the top position while being in direct competition with other agents.
So, if you’re a real estate developer or agency that has a first on an exclusive, how should you begin creating content pieces as a marketing strategy?
Content pieces serve as a way of helping and enabling your Property Agents to sell much easier.
Here are tried and tested property development marketing strategies that you could use.
The first example of crafting a content piece can be to showcase the uniqueness of your particular development.
In this case, it could be as simple as asking “Why is this particular development so unique in the entirety of Singapore?”
One such example is One Pearl Bank, itself being a unique kind of development and a case in point.
You should let people understand what exactly makes your property development different and unique, and why people should take notice.
For most property developers, this might already be in your marketing strategy.
Maybe you’ve already identified a few different avatars that are specific to your project.
In this case, a few specific avatars.
By declaring your avatars, you can make it easier to incorporate your property development marketing strategies towards the right audience.
Declaring avatars that are specific to your project allows you to zone in on the features that would make it appealing to that said avatar.
For example, if your avatar is focused on families, you could feature swimming pools and playgrounds, or other specific features that can be amplified by catering towards your declared avatar.
All of these can be easily dealt with through varied content pieces, such as videos and articles.
One of the best content pieces you can work on are videos catered towards your specific avatar and audience.
Whether it is through videos, articles or other property development marketing strategies, focus on creating good content to help you sell a development.
By creating varied content pieces you will give your agents ammunition in order to compete and market aggressively.
Instead of competing directly with your industry on Google and increasing marketing costs for yourself and your agency, try this:
Focus on creating pieces of content that will enable you to sell the units specific to the project.
Stop competing directly with your agents, and instead, spend more time towards creating better pieces of content.
Doing so you’ll be able to help your agents and agency develop a marketing strategy aimed towards selling the units specific to the project itself.
We are so glad that you read our content!
What’s most important is that we hope that you find the information useful.
If you know anyone that can benefit from this post, do share it with them or simply share this post on social media!
Till next time!
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