John Seroka, principal of specialist brand development firm Seroka, offers five questions every business owner should ask themselves before looking at any real estate relationships.
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1) Is your brand understood by your internal and external audiences?
If you have your doubts, then this is the perfect time to find out. What you don’t want in a fiercely competitive purchase environment is brand confusion internally or externally as you spend good money developing campaigns and putting ‘boots on the ground’.
To start, I recommend conducting a Brand Insight Assessment (BIA). This exercise can be completed in fairly quick fashion by developing a few key questions - multiple choice and open ended - and then sent off through SurveyMonkey to enable quick response time. The questions should be designed to assess overall awareness of your brand, what it stands for and where you stand competitively.
From this assessment, you can discover gaps in understanding and how well internal and external audience perceptions of your brand are aligned with each other and your intentions. If the results show gaps exist, you can now take action to close those gaps.
2) Are your brand’s unique selling points (USP’s) clear?
Real estate agents are undeniably a great source of referrals for brokers, but getting the best of the industry to work with you takes more than a phone call and a handshake.