Real estate has its own unique vocabulary that can be difficult to navigate when starting out as an agent. Knowing the terminology makes real estate much easier. Use this list as a reference anytime you need a refresher on words related to real estate marketing.
Agent Portal
An agent portal allows real estate agents to manage their leads. These portals are cloud-based and can be easily accessed from anywhere with an internet connection. Agent portals help streamline the lead follow-up and marketing process, making it easier for agents to get leads and convert them into customers. Because an agent portal is designed for the agent, it has all relevant information in one place. When agents get leads, they can add them to their portal, which also allows them to type notes about the lead. As these leads convert into clients, agents can track their progress through their portal, allowing them to stay organized.
Agent Advertising Software
One of the most cost-effective advertisement methods is software that automates ad campaigns. This kind of software lets you create ads with just a few clicks and then schedule them for optimal performance. The best advertising software integrates with Google AdWords and Facebook Ads, so you can maximize your return on investment. It also tracks data from every campaign so you can measure performance and adjust your strategy as needed.
Agent Referral Fee
An agent referral fee is when an agent gets paid a fee for referring a client to another agent or broker. The agent either receives a percentage of the commission or a set amount agreed upon beforehand. The referral fee is typically 25% of the gross commission, but this is negotiable.
Real Estate SEO
SEO stands for search engine optimization. In short, it’s making your website and online listings more visible to potential buyers who use search engines like Google and Bing. By optimizing your site for relevant keywords, you can attract more traffic and boost your visibility in the competitive world of real estate marketing.
At Luxury Presence, we have a team of SEO experts to help agents like you boost your website rankings to drive more visibility for your brand and generate leads organically. Learn how we ranked one of our clients #1 for “Manhattan real estate agent”.
Real Estate CRM
CRM is an acronym for “customer relationship management.” Real estate CRM software helps you manage your leads and contacts. You can use it to find out more about your prospects’ needs, preferences, and buying habits. You can then personalize your marketing efforts to match your target customers’ needs better. It also helps you automate many of the tasks involved in running a real estate business. This automation can reduce administrative costs and free up valuable time for other essential tasks.
Real Estate Lead Generation Software
Lead generation software helps real estate agents find potential customers. It typically includes a database of leads and tools to help manage and nurture those leads. Some standard features of lead generation software include tracking leads, sending automatic emails, and setting up appointments.
IDX/MLS Software
IDX software allows real estate agents to upload their listings directly to multiple listing services (MLS) simultaneously. IDX software lets agents create their listings, upload them to the MLS, and then syndicate them to other websites, like Zillow, Trulia, and Realtor. The software also allows employees to add photos and details to the listings, like pictures and details.
Internet Lead
An internet lead comes from an online source. These leads can come from a variety of places, including real estate websites, social media sites, blog posts, online advertising campaigns, and more. Internet leads are prevalent in the real estate industry, and agents need to be able to recognize them and know how to respond to them.
Conclusion
Real estate is a competitive industry, and as technology advances, agents will need to adapt. Understanding these important marketing terms will help you ahead of the curve and show prospective clients your expertise.
