How to Develop Your Personal Brand
/“A brand is the set of expectations, memories, stories, and relationships that, taken together, account for a consumer’s decision to choose one product or service over another” - Seth Godin (American entrepreneur and author)
The global pool of real estate investors is growing more crowded and competitive every day. On the Bigger Pockets platform alone there are more than 1,000,000 members (not including free subscribers), most of whom are actively looking to engage and network in the forums. There are real estate investment meetups in just about every major city in the US and beyond. With so many people interested and active in the real estate investing community, it can be difficult to stand out from the masses or feel like you have a niche. Whether you are running your own investing business, or just trying to create your first deal, identifying and living out your personal brand is key to attracting clients, or at the very least, attracting reputable professionals to your real estate team. So, how do you set yourself apart? =
What is a personal brand?
Simply put, a personal brand is the lasting impression you leave on someone. It’s how people perceive your personality and character. It’s the words they’d use to describe your abilities and demeanor. It’s how they’d characterize your purpose and expertise regarding the work you do. Suffice to say, personal brand is very important. A poor brand can lead to little interest - even disapproval - in a person and their mission. But a good brand can foster respect and galvanize support.
What makes a strong brand?
A strong brand differentiates a person by communicating a competitive edge. For example, many people make a living as a real estate agent, but Tony is a premier agent due to several decades of experience, his unparalleled knowledge of the market, his superior pipeline of off market properties, and his personable communicative style. Identifying the skills and attributes that set you apart from the crowd will give your brand a leg up. But this isn’t always an easy task. We all have blindspots, or think a trait is a strength when it’s actually perceived by others as a weakness. Appeal to those who know you (friends, family, business associates) to uncover your true strengths.
In order to set yourself apart you have to be familiar with your competition. Identify other key players who are doing similar work. Acknowledge what they do well, and seek to emulate and outperform. Identify where they may be lacking, and execute in these areas.
In order to be someone others aren’t, you’ve got to do what others won’t!
To truly establish a brand that is second to none, you’ve got to go above and beyond in your efforts to learn and outperform.
Make networking a priority. You can only learn so much on your own, but other people provide an endless source of knowledge and experience
Attend conferences and workshops. Yes, this costs money, but if you aren’t willing to invest in yourself, then how important is your success?
Invest in specific programs and online tools/software. Establishing a strong brand is not free or cheap. Most people never have strong brands because they aren’t willing to invest in the tools required. Spending your own hard-earned money on your brand forces you to have skin in the game. This will help you stop making excuses and put in the time and effort required to grow and surpass your competition.
Cold call people and businesses you are interested in working with. Many people miss out on success because they fear rejection. A big part of personal branding is demonstrating boldness to do whatever it takes to reach your goals, and to help others along the way.
How can you identify and create your personal brand?
Highlight your skills
What are you good at, or passionate about?
Are you a relentless bird dog who will stop at nothing to find the best off market deals?
Are you a numbers person who is a whiz with property valuation?
Do you relish uncovering the nuances and benefits of different financing options?
Do you love meeting new people and learning about their passions and goals?
Are you an avid learner with an insatiable appetite for gaining knowledge through books, articles, podcasts, etc.
Are you a skilled negotiator who looks for every opportunity to talk your way to the best deal?
All of these skills and more can help you in the world of real estate investing. Don’t try to be the Swiss army knife, prolific at every task. If you’re just starting out, odds are you don’t possess much expertise or skills. So choose one thing to focus on and become an expert. Read specific books and articles that will increase your knowledge. Watch videos and webinars that will provide visual instruction on how to do certain tasks. The more you grow in your knowledge and skills, the more your confidence will grow. Understand that people will be drawn to a brand of confidence, not cockiness. Be authentic in the way you present yourself, and you will attract others who identify with you and your abilities.
Create a website: In today’s instant, online world of business, having a personal website is a crucial tool to establish and promote your personal brand. There’s only so much information you can convey to someone during a meet and greet. But by directing them to your website, you provide them with all they need to know about who you are as a business person, and why you do the work you do. Here are some must haves on your website to create the strongest brand:
Home page and intro video. Make your homepage clear and concise. Don’t overwhelm visitors with too much text. Use eye-catching images and bold headings to highlight your main points.
Have a menu bar at the top to take visitors to other pages.
Your intro video should essentially be your elevator pitch: brief and engaging to build rapport and establish a personal connection with viewers.
If relevant, include pertinent numbers of your business dealings, as well as testimonials of people you’ve worked with.
Don’t make your guests scroll down ten times to reach the bottom of your page. Keep pages condensed, and place additional content on other pages.
Include a visible place for visitors to sign up for your mailing list.
Links to social media accounts (the more the better): include at the top and bottom of every page links to your facebook, twitter, youtube, instagram, and linkedin. Be conscious of what is posted on your social media accounts; you don’t want to lose out on a deal because of a regrettable post.
Resource page: include a page for visitors to access any content you’ve created, like e-books, articles, videos, and also a list of recommended resources.
Websites are today’s business cards. They are a dynamic way to demonstrate your personal brand in a professional and exciting manner.
Branding best practices:
Regularly update your profile every few months. Keep up on emerging industry topics and trends, and post new content to keep your audience engaged.
Showcase past and current projects so people can see what work you’ve done. Share what worked well, and what you struggled with and learned.
Update your skills as you continue your ongoing education. By completing different courses, conferences, training, etc., you can highlight your credentials and desire to grow as a professional, ultimately strengthening your brand recognition and credibility.
Some final thoughts
Weak brands focus solely on intellectual arguments. Strong brands, however, can appeal to people’s emotions as well as their minds. By tapping into the psychology of people’s decision making you can establish an influential brand.
Be mindful of the adage: “People don’t care how much you know until they know how much you care.” This statement contains a world of truth. We all realize there are tons of experts who know much more than we ever will. But that only counts for so much in business. People not only want to give their business to someone who is intelligent and capable, but someone they feel genuinely cares about their objectives and well being. You can demonstrate your care by doing two main things: (1) ask questions (2) actively listen.
Ask people about their stories. How do they envision their ideal lives? How do they see real estate investing as the pathway to their dreams? What excites them? What makes them anxious? Asking questions builds rapport and a long term relationship that can lead to long term business.
Most people are terrible listeners. We can ask questions, but are we actively listening, or just waiting for our turn to speak. After you ask a question, just be quiet and listen. Don’t interrupt. Don’t try to finish their thoughts. Exercise patience and truly hear them. When they finish talking, ask any clarifying questions, or restate your understanding of what they said. Most people will be so blown away that someone really listened to them, that they will want to work with you.
Influential professionals associate with other prominent leaders. You likely won’t have access or connections to high profile individuals when just starting, but you should still seek out people with more experience and knowledge than yourself. They will know other people you can connect with, and so on. Over time as you diligently surround yourself with like minded people, your network will begin to “snowball” and grow more rapidly and consistently. Let your personal brand communicate your willingness to add value to others, and you will attract many high-level professionals.
When it comes to building your personal brand, you alone decide what that brand is and how far you take it. Determine the skills, expectations and relationships you will offer that will make it easy for someone to choose you out of the crowd.