Branding: Your Own Burning Impression
By Chris Huizenga, NSBAR Director of Marketing/Education

As seen in Real Estate Executive Magazine, April 2005

Misconceptions exist about what Branding is, and why it matters in real estate. This all-too-often overlooked and underrated business practice can make the difference between success and failure, mediocrity and excellence.

Marty Neumeier, president of the San Francisco-based brand consultancy Neutron LLC, says that branding is not a logo, nor is it an identity and it is not a product or service. Branding is the consumer’s “gut feeling about a product, service, or organization.” It is how the consumer emotionally relates to and identifies with a company, product, or service agent. It is irrelevant as to what you think of yourself or your brokerage, because branding is “not what you say it is. It’s what they say it is.”

Branding is important because consumers have thousands of options when it comes to selecting their real estate agent (over 40,000 options in Northern Illinois alone). Not only that, but there is a sense of urgency for most consumers when selecting the perfect agent, so time is of the essence. Furthermore, while there are a few agents that stand out, several real estate agents offer the same quality and attributes as their competitors. Finally, consumers base their buying choices on trust, and agents that can establish trust often get the client.

40,000 Options
Consider that you are competing in this marketplace with tens-of-thousands of other agents; agents who are other options for your potential client. How do you set yourself apart? Distinguish yourself by deciding what your Unique Selling Position (USP) is going to be. Agents have to separate themselves from looking and acting like every other agent in the market. What is it that you do to make yourself memorable without over-doing it? Which services do you offer each client so you go above and beyond what every other agent does? How can your advertisements be designed to attract more clients than other agents’ promotions? You must also innovate. Be better at using technology than the person next to you. Learn to use a handheld device to pull MLS information while you’re out with clients. Consider that a whopping 70% of new home buyers go first to the internet for information gathering. How will you utilize this medium to make yourself unique and valuable to both buyers and sellers?

Time is of the Essence
Time is a huge concern for clients. In order to address this, you need to be able to answer questions quickly and accurately. You also need to be able to get your client in touch with professionals in other service areas. This way, if you don’t know the answer, you can quickly find someone who does. The key is to collaborate. Surround yourself with people specializing in their respective fields. Create your own personal network of home inspectors, mortgage lenders, real estate attorneys, cleaning services, architects, home warranty agents, and repair services. The most successful agents I have met are the ones with the strongest professional networks.

It Comes Down to Trust
Your name is all you have – it’s the one thing that cannot be taken away from you. It is much like silver: although it is precious, it tarnishes quickly. Trust is built by both meeting and exceeding the expectations of the customer. My father, a broker in rural Illinois, taught me that the best thing to do to build trust in your name is to be fair, honorable, and honest to everyone – and to do that consistently. You want to be certain that if anyone is saying something about you to someone else, that they’re saying something that shows you are trustworthy.

Measure Brand Integrity
To measure how successful your brand is, answer the following question: How are you building a network of trust with satisfied clients, and are they sending you referrals? Agents must be able to measure their USP, and one way to do that is to count the number of referrals you get from former clients. If you are actively and whole-heartedly trying to earn referrals and are not seeing any, then it is time to have a good hard look at how your brand is being perceived.

Summary
Build your brand by being unique in your services. Be fast and knowledgeable in your areas of expertise, and build a network of professionals to help you. Build trust by being reliable and in pleasing your clients by surpassing their expectations. Do not forget to measure your brand strength by counting the number of referrals you earn. Branding is what the consumer thinks of you. You may think of you or your brokerage being the greatest, the fastest, the most honest, and the most knowledgeable. However, none of that means anything if the consumer doesn’t believe it.

Chris Huizenga is the Director of Marketing / Education for the North Shore – Barrington Association of REALTORS®, and he is also on the 2005 Editorial Board for the REALTOR® Association Executive Magazine. He is a 2000 graduate from North Central College in Naperville, IL with a degree in Organizational Speech Communications. Chris resides in the Rogers Park neighborhood of Chicago with his wife Erin. Communications should be sent to ChrisH@nsbar.org.