Create Your Own Real Estate Brand or Use Your Own Name as Your Brand?
Firstly, everyone will assume I have a bias to a known brand as the head of the RealWay Team. Let me assure you this article is about assisting you to understand personal and agency branding.
Getting your personal agency brand designed is certainly the fun part. But having to establish that new brand in the minds of your target audience is the most difficult part of all.
There is so much noise in consumer marketing today on all of the online media platforms. The modern consumer is bombarded online. With so much information getting through to the to the consumer, it is more difficult than ever. Even if they see your message, if they are not currently in the market, remembering your brand can be difficult. It can take a lot longer and cost a lot more in advertising than you might imagine. So when you establish your personal brand, allow at least 2 years to get known solidly within your market. Target consumers. Particularly, those who don’t personally know you.
Your Established Competitors &, Surprisingly, Your Clients Will Make it Tougher Than You Think.
As a new business there is this interesting fact. Even people who know you will want to see “if you survive” before they trust you with their business. Many people are nervous of dealing with new businesses. I can assure you your competitors will remind them of how well-established they are compared with you. They will use this to explain how only they have the capability to deliver the results. This is the reality of real estate agency competition.
Incorporate Your Personal Surname (Not Your Full Name) in Your Brand When Getting Established.
Whether you choose to set up an office or to work from home, I highly recommend that you incorporate your surname into your new brand. You should do this whether it is a known, established brand or you create it yourself. Why? Because most of your business in the early days comes from clients who “Like. Know and Trust” you already.
So, if your surname is in the brand, it is far easier for clients to find you at this critical, early stage – even online. Usually, at this stage, you are the whole business. For this reason, trade on the valuable reputation you have previously established with your clients. Some marketing wisdom: don’t use your whole name. It can make it more difficult for salespeople to want to work with you as you grow. This is because they perceive that they will get lost to their clients. It can also make it more difficult to sell your business one day as the new owner has to be comfortable enough to trade with your name rather than theirs. This can be tougher than you think when you go to sell. It can erode the agency value and, in many instances, make it unsalable.
Ideally, your new agency, whether with an established brand or one you create, should always incorporate your surname in the early days. It is not difficult to amend the brand later, once you have established significant market traction in the marketplace.
Why Not Join us at RealWay?
Even better, you can combine your personal brand with our easily remembered, established, boutique brand from day one.
We offer a low cost application fee and ongoing flat fee licence to access the RealWay brand, technology solutions and support network. I encourage you to include your name in the trading name. Thus, you have the support of an established team and your clients can feel more comfortable in choosing you, right from the very beginning.