5 Marketing tips that grew my real estate agency

Shammah Godoz
November 8, 2022

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Suppose you want to market real estate in Nigeria.

Chances are that you already have some real estate properties in your portfolio and are looking to reach out to potential customers and build a customer base.

Real estate is one of Nigeria's most profitable business lines in Nigeria. As land increases in value, so does real estate and its demand. According to the Federal Mortgage Bank of Nigeria, there is a deficit of 22 million housing units. That means there are at least 22 million potential customers in the market. So you don’t need to worry. You are in the right business.

While stocks and equities have been on the downswing for a while, real estate has offered steady returns proving to all that it remains one of the most relevant commodities.

However, the real estate industry in Nigeria needs a robust structure and effective regulation in Nigeria. Joining the business might be a little tricky, but it doesn't stop the market participants from making a killing. Across several hotspots, such as Lagos and Abuja, the industry thrives without the needed structure--a testament to demand outpacing structural deficiencies. Over the years, the sector has seen technological advancements as several startups have joined hands to solve its inherent problems.

In this article, we will learn how to market real estate in Nigeria from a real expert.

Meet our real estate expert

Solomon Bello works in Lagos and Abuja, has about 8 years of experience in Real Estate, and we talked with him about how to market Real Estate.

"There has been an increasing demand as the years go by," he says. "Rural to-urban movement in Nigeria is at an all-time high. Look at the population in Lagos and the fast-growing population in Abuja. When people enter a city, the first problem they solve is the problem of accommodation. That is where real estate comes in. The main thing is marketing real estate is a human-human affair. If you honestly conduct your business while focusing on solving your client’s problems, all you need is patience, and your business will grow."

As for how he has found success in Real Estate, he shared a few marketing tips for real estate with us.

1. Understand your product and the market

According to Solomon, marketing real estate has changed with the times. Any marketer should first understand what kind of real estate they are selling; land, houses, rental units, short let, offices, warehouses, etc. The goods do not come cheap, and identifying the properties you have access to will save you a lot of wasted effort when marketing your real estate products, as it would help you narrow your audience. Solomon started as an agent facilitating the rental of units to individuals before he moved on to market residential estates and land. At every stage, before he got to where he was now, Solomon tweaked his real estate marketing strategies to fit the bill, inspired by the kind of audience he met along the way.

2. Get the word out

Solomon's next step was to find his audience. He recalls leaving flyers at various hot spots within Abuja in the 2000s, including; supermarkets, business offices, business fairs, and sometimes on the street.

"The point is to get the word out there by any means necessary. When I was renting out units, we would go around populated areas with flyers that had information about places that were coming up. At that time, Lugbe was still developing, so I was marketing land and houses in Lugbe to get people who could not afford houses in Wuse to move. For rental units, there is nothing as powerful as word of mouth. Your potential customers will believe the word of a fellow customer because they [fellow customer] have spent longer with the product. As a rental marketer, my time with the product ended at the point of sales."

3. Build trust by solving your potential customer's problems

Solomon also mentioned that trust was crucial. They grew their sales numbers when they rented an office and put out a contact number with which people could reach them. He said that word about their real estate service started to spread far and wide. People knew where to find them, and while his agency started with only inquiries from potential customers at the beginning, these inquiries turned into sales, and deals were closed in no time. "Knowing the pains the people you market to are going through and providing solutions to the problems helps to build trust. It is painstaking at first, listening to these calls and running errands you do not need to run, but it is rewarding in the end. When they refer their friends to you, they trust you."

4. Communicate consistently but not too much

"As important as getting a house is, you also have to understand that not everybody that needs a house can get the house at the moment. When urgency is attached to something, people become very cautious, and you do not want too much of that on a potential customer’s mind. It would make closing the deal harder for you." Solomon further reiterated that real estate marketers must find the sweet spot between delivering valuable communication and staying at the top of their customers' minds. “The marketing journey does not end at the point of sales. These customers have friends and family that are going to move to the city or come and visit them. If you have short-let apartments in your portfolio, customers you have given good service to could contact you if any of their people need the same service.”

Thus, maintaining communication lines with your customers is a far cheaper and more effective marketing channel than starting a new campaign every time.

5. Employ digital marketing

As a part of his marketing strategy, Solomon has employed digital marketing techniques in his real estate. He informed us that he had recognized that people have their time split between their real lives and the digital world and made moves to find his customers there as soon as possible.

"Digital marketing is not too different from what you call traditional marketing. The same techniques may apply, but we have noticed that customers have far less patience when talking to us through digital platforms. If they are talking to you, they are talking to at least five other real estate companies who may be selling the same thing to them, so every second you have their attention is a precious moment. We try to give them as much information as possible to aid them in deciding, even if they won't buy from us. Sometimes, it is not about if the customer buys from you, but you have to establish your business in the customers' minds so they can refer you to someone who needs the services you provide."

Boost your real estate marketing

As a final note, Solomon said, "Most of all, consistency and endurance. The real estate market also responds to seasons, so you have to take note of that. What I have enjoyed in real estate is that there are many ways you can meet your customer's needs, not just in housing. If you are a hard worker, these could open up more profit lines for you, especially with the rise of digital marketing. There are so many things you can do with it. The best time to start marketing real estate is now."

At Pedicel Marketing, we do not doubt the power of digital marketing to give more than the necessary boost to your real estate marketing efforts. And starting early is the best as it helps you understand the market and build your unique growth model early.

If you need help when marketing real estate online, we are here to help.

Send us a message.

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Shammah Godoz
November 8, 2022

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