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Buying a new home is the largest financial transaction most people make in their lives. Negotiations are concluded with the help of legal professionals after significant research and due diligence. However, real estate transactions are based on trust between clients and real estate agents. Building trust takes time and often starts long before the actual purchasing process. By using public relations (PR) as part of their digital marketing strategy, real estate agents can increase credibility and strengthen their reputation to create a trusted brand.
The real estate industry is highly competitive. To be successful in the long term, real estate agents and businesses must differentiate themselves from the competition. Building trust and gaining credibility with stakeholders are two of the crucial components of this process.
A trustworthy real estate agent is an honest agent and works in the best interests of their client. When it comes to buying a new home, for example, a reputable agent won’t try to hide the need for any repairs to ensure a quick sale. Instead, they will advise their clients on how best to proceed.
As a result, agents gain credibility with their clients, which can lead to referrals and repeat business.
Related: How to Build a Strong Online Real Estate Brand and Increase Trust with Customers
Public relations in the real estate context
Real estate agents can build trust and credibility through direct interactions with their stakeholders, but this will likely be very slow. Public relations offers an ideal tool to speed up this process even before agents meet potential buyers and sellers.
Public relations encompasses a wide range of activities, all aimed at improving a real estate agent’s reputation and increasing brand visibility and trust. Media relations, community involvement, reputation management and crisis communications can be part of a successful public relations strategy.
Although these tactics are closely related to other marketing activities, there is an essential difference. Messages conveyed and stories told through public relations benefit from third-party endorsements, adding a higher level of credibility to a real estate brand’s messages.
Related: How Real Estate Agents Can Harness the Power of Public Relations
Building relationships with the media
Media relations is perhaps the best-known subdiscipline of PR. Most real estate companies may be familiar with distributing press releases to relevant media. This is media relations at its most basic but not its most effective form.
Highly successful media relationships are created by forging relationships with critical journalists, editors and other influencers in real estate media. Rather than simply sending press releases to these journalists, public relations professionals take the time to understand their needs and pitch stories that benefit the publication’s brand and audience. Over time, journalists see your real estate business as a source of reliable information that not only fills the proverbial column inches, but resonates with their readers and viewers. Cultivating these relationships takes ongoing effort, but the results can transform a brand’s position in real estate.
Establish thought leadership
One of the most effective ways to become known as a reliable and credible real estate agent is to establish thought leadership in your chosen market segment. While real estate agents can initiate the process through their own website or social media channels, partnering with third-party media outlets is often more effective.
Consider sharing your expertise by offering articles or opinions and participating in media interviews. Taking advantage of speaking engagements and participating in coveted industry awards will also help you grow your reputation as a leading real estate agent.
Digital public relations channels
Just a few years ago, PR was largely limited to print and broadcast media. Digital technology has truly changed the playing field for public relations, giving brands a wider choice of channels to communicate with their audiences.
Blogs, vlogs, social media, podcasts and other online publications all offer excellent opportunities to share and amplify your real estate brand message and reach your target audience. While this may seem complicated at first, remember that not every channel is right for every brand. Choose your messages carefully so that they can truly resonate with their recipients.
Many digital PR channels are built around interacting with your audience. Publishing information is not enough. Your reputation is also based on how you interact with online communities, such as replying to messages and answering questions.
Related: How to Choose a Trustworthy PR Agency in 6 Steps
Manage crisis communications
Despite their best efforts, any real estate agent could find themselves in an adverse situation. Perhaps there is a delay in completing a development you were selling off schedule? Or perhaps the new owners of the home you sold discovered major problems as soon as they moved in?
In these situations, it is important to have a proactive crisis communications strategy. Start by identifying potential risks that could lead to crises and preparing potential responses. These preparations allow crises to be addressed promptly and reputational risks to be mitigated in the best possible way. In addition to being prepared, maintaining transparency in interactions and communications with stakeholders will go a long way in effective crisis communication.
Measuring public relations success
Like all marketing activities, public relations campaigns must be evaluated for their impact and effectiveness. Measuring success starts by defining metrics and key performance indicators (KPIs).
Going back to the traditional press release, real estate agents may want to track how often their release has been collected. When it comes to digital marketing channels, measuring engagement through likes, shares, and comments on an article can give you a good idea of the piece’s impact. Website traffic and brand sentiment are two more meaningful ways to measure impact.
Public relations helps real estate agents establish relationships with buyers, sellers and other interested parties long before the actual property changes hands. By building relationships with relevant journalists, becoming known as experts in the field, and using digital media channels to reach new audiences, real estate agents can lay the foundation for success for years to come.