Both REALTORS®️ and small businesses want to be the top choice when it comes to the services or products they offer. But oftentimes, the relationship between the two isn’t utilized as well as it could be. When both small businesses and agents work together, both brands can flourish and become leaders of their community.
Cross-promotion is key
Real estate agents pay for marketing to help establish themselves as experts in certain neighbourhoods. Small businesses do the same. Since both are shooting for the same goal, cross-promotion is a great way to work toward mutual benefit. It can cut costs and effort while allowing both to tap into each other’s existing client base.
There are several ways to accomplish cross-promotion. Agents can offer closing or welcome baskets filled with goodies from local businesses, or they can take turns doing social media shout-outs, with agents featuring local shops and businesses doing the same by promoting the agent’s services on their own channels.
Don’t underestimate the power of a neighbourhood guide
Neighbourhood guides can benefit both agents and businesses, too, while helping people get to know the area. The cost would be split between the two, giving them the opportunity to put their name on a guide without paying full price, and both their services and the offerings of local markets, stores, and brands can be featured prominently.
You can choose a printable or downloadable guide, though digital is likely the better option today; consider adding interactive digital maps, video spotlights on business owners, and printed mailers with a QR code or digital code for download. Along with digital maps and spotlights, add recommendations for the best places to shop or visit in the neighbourhood, along with discount coupons or vouchers.
Once you have the guide, use it as part of your cross-promotion marketing plan: create collaboration posts on Instagram or other socials and feature it on your respective pages for broader audience sharing.
Community events can strengthen your brand
REALTORS® and small businesses have several community event options when deciding to host one that builds brand expertise. For example, block parties, shop-local business crawls, and seasonal events are great ways to get people out so you can have face time with potential clients in the area, and businesses can showcase their offerings.
By bringing the community out in a joint effort, you can split the work and costs while using event marketing to promote your brand.
Choosing the right businesses to partner with
To ensure the partnership works for both parties, make sure the business you partner with aligns with your values, brand, and theme. Coffee shops, bakeries, and florists are great because you can showcase them at open houses or in gift baskets. However, it is entirely up to you to choose the best brand to work with based on who you are and how you want your brand represented.
The partnership between local businesses and real estate agents can be a beautiful, mutually beneficial one if done correctly, so all you have to do is choose the right one and get to work.