While the usual real estate advertising tactics are a good start for REO agents, the best results come to those who put extra effort into marketing themselves. REO properties are attractive to specific sections of the buyer’s market, and reaching out to them requires a targeted, cohesive and expansive marketing approach. Consider implementing these tips to better position yourself as an REO agent.
Target Multiple REO Agent Digital Marketing Channels
While some real estate agents may find a single freestanding website is all the digital presence they need, you’ll stand a greater chance at increasing your sales with a wider range of advertising channels. Some channels should offer pure REO agent advertising opportunities, while others are more focused on REO agent networking to connect agents with sources for new listing leads. Balance efforts between different channels, such as:
- Social media accounts, including YouTube, Instagram, Facebook and Twitter to share digital tours, listing updates and property photos
- Online groups, associations and forums designed to aid REO agent networking
- General real estate advertising outlets, such as Craigslist and members-only MLS services
- Independent REO agent advertising in the form of both desktop and mobile-friendly websites
Create a Blog
Whether agents choose to spend all of their efforts on a Facebook page or hire a local designer to create a complete listing website under their own domains, a blog is the best tool for driving traffic to those advertising channels. Blogs can be maintained in under an hour each week, and they can attract high traffic levels from search engines that funnel qualified buyers to the REO listings. The posts can be aggregated across different platforms to keep multiple channels fresh without extra effort.
Seek Extra Training and Certifications
There are no specific requirements for becoming an REO specialist once an agent achieves a real estate license, but additional training programs are great for boosting advertising power. Many listing companies determine display order at least in part based on the rankings and certifications of the REO agents running those listings. Jumping through some continuing education hoops could reward an agent with a sudden uptick in exposure, making the few hours’ worth of effort well worth it.
Consider Targeted Websites and Email Lists
The REO buyer’s market is split nearly evenly between homeowners looking for a good deal and investment companies interested in turning a profit. Content targeting each group should look and sound different, as their needs and desires for properties are different. Using software to create quick and custom listing websites gives an agent a chance to market to both groups separately with minimal additional effort.
Targeted email lists also work similarly. Once you’ve developed two lists of homeowners and investors, you can pick which listings are promoted to them each week for a higher chance at making quick sales.
While these marketing ideas may seem time consuming at first, they are bound to pay off in spades. Blogging or tweeting may take a little getting used to, but if you get in a steady habit, you’ll build a base of followers -—which will go a long way in convincing others that you’re the right real estate agent for the job.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Altisource Online Auction, Inc., Altisource® or any Altisource affiliate. The foregoing content is not intended to constitute, and in fact does not constitute, financial, investment, tax or legal advice by the author, Altisource Online Auction, Inc., Altisource or any Altisource affiliate.