Real estate branding is something that you as a real estate investor need to pay attention to if you hope to be successful in the business.
For many busy house flippers, wholesalers and real estate investors the decision to build a real business and brand is one that they prefer to put off until later. However, is this decision / non-decision really the right move? If you are just getting started in real estate, giving thought to your branding at the outset can give you a great foundation to build on.
If you have invested any time at all in your real estate education then you probably know by now that if you want to survive, let alone thrive, you need to brand your business.
It is so important for your reputation and there are so many long-term benefits, including lower taxes and higher profits. Therefore, the sooner you do it, the better.
But what exactly is branding?
What Is Branding?
A brand is more than just your logo or the way that your business looks and branding is not the same thing as marketing, although the two are definitely connected. One should not exist without the other.
Your brand is about perception. It is about the way people perceive who you are and what you represent. It’s about their reaction when they see your logo or visit your website or talk to you or one of your staff on the telephone.
A really successful brand is one that those who work with you or do business with you have a sense of loyalty toward. Your name and your business mean more to them than just a commercial transaction.
Branding includes all the things you do to create a particular image or vibe for your business. This is done in a variety of ways, such as, by choosing particular color schemes or a certain style of graphics. Your brand is also built through what you share on social media.
By means of your brand, you can share your mission, your values, and your own unique character.
Why Branding Matters?
Having a brand is an important way to stand out from the crowd and it will give you a big edge on competitors who have no brand or who have done their branding poorly.
To illustrate the power of branding in a simple way, picture yourself in the supermarket looking at two products that are essentially the same, the one brand you know and trust, the other you have never heard of, which one do you choose? You choose the one you know and trust, even if the price is higher.
Branding makes what you do more than just business, it makes what you do personable and relatable, and it humanizes your business activities and makes people want to deal with you.
The more consistently you deliver your brand message, the more credibility you will have and the more confidence people will have in your brand.
Branding is about creating an expectation in your customers and then meeting those expectations consistently. When you do that it builds trust. That is how you create loyalty in buyers, sellers and other service providers and professionals in the world of real estate.
This consistency needs to be there in every aspect of your communication.
- Your logo, typography, color palette, and other visual elements
- Your website
- The tone you use in your marketing
- What you share on social media
- Your customer service quality
In short, every interaction you have in your real estate business.
Here is just one example of how a well-known brand unrelated to real estate maintains consistency.
Example – Dropbox
The cloud-based file sharing platform, Dropbox, is awesome at consistent design and personalization across many different channels. You will never see a Dropbox communication without their signature logo, an open, blue box that looks like it was sketched with colored pencil.
This one of a kind style is behind all of the brand’s communication. Even Dropbox’s email messages consistently reflect that same fun, personalized style of communication.
How Branding Differs From Marketing
Branding is about your business image and purpose and marketing takes that same image and purpose and actually puts it out to your audience.
Branding is the story, and marketing is making sure that people hear that story. If you don’t take the time to build a brand there will be no story for marketing to share.
Big profit margins on house deals are great but if you want to grow your reputation and build real wealth you need to invest in your brand.