Branding is one of the most important aspects of any real estate business. From leasing office space and retail to investment sales and residential, an effective brand strategy gives you a competitive edge in increasing market share and relevance amongst your target audience. But how can branding impact your real estate business?
Simply put, your brand is a reflection of your clients, customers and employees. Branding has an impact on the decision making process. While your real estate brand represents you and your promise to your clients, customers and employees, it tells the outside world what they can expect from your services, and it differentiates you from your competitors'.
In an independent RE:Tech › Survey Study* of 100 early stage tech startups, 90 percent of survey respondents, believed at first glance, a real estate brokerage firms brand impacts their decision making process of which firm they'll hire to lease office space. With a qualitative focus on brand "values" and "relevance", today's emerging companies seem to care more about who they work with rather than simply leasing space. The remaining 10 percent of survey respondents stated that experience and referrals/word of mouth are important.
According to a survey respondent, "The best communications we've received from a real estate company came from companies knowing who they are."
5 Things Your Real Estate Brand Should Be Saying About Your Business:
- I am a professional and I take my business seriously.
- I know who I am and what my brand represents.
- I understand my audience.
- I am current.
- I am unique.
The RE:Tech Brand Survey was conducted between November 2, 2015 and February 1, 2016.
*RE:Tech Survey Respondents
- Markets: NYC, San Francisco, Chicago
- Respondents: Founder(s), CEO, CMO, and/or CFO
- Company Size: 5 - 30 employees
- Year of Operation: 1 - 5 years
- Financing: VC Backed and/or Profitable