Real Estate Photography Building Blocks: Market Analysis – Stakeholders
Welcome back to the iGUIDE Building Blocks channel. This week’s video talks about stakeholders. Your real estate photography business has a lot of different stakeholders: high producing real estate agents and teams your local real estate brokerages, your local real estate boards, associations and MLS’s, and your local real estate media.
There are the four groups of stakeholders I would focus on every time I open a new market.
When Alex and I launched our first iGUIDE team in Kitchener-Waterloo, we set a goal for ourselves and I needed to figure out the best way to get there with the biggest bang for my buck and return on my time. I wanted to find the agents and teams who were selling the most number of homes. I created profiles for these agents and teams, including how many homes I thought they were selling a year. This became my target client list.
Before I began reaching out to this target list I’d invest some more time researching them. I learned what virtual tour, floor plan, and professional photo services they were already using. I looked at how these services were being used on their listings, on their website and on their social media. I identified key people within their office or team. Once I had my list and my background information was in place I was ready to begin reaching out.
The second important group of stakeholders is the brokerages. In most cases the brokerages weren’t directly our clients, but they were a big help in growing our business. There were important people to know within the brokerages; they provided access to the Realtors through office meetings, lunch and learns, breakfast sessions, sponsorships and special events. Each of these activities was a chance for us to get iGUIDE in front of a large group of potential clients all at once.
The third important stakeholder group is the local associations, boards and MLS’s. They won’t be your clients either, but they can help you grow your real estate photography business. They can provide access to agents through trade shows, sponsorship opportunities, education sessions, and presentations. As an iGUIDE Pro you could become your markets local measurement expert, sharing wisdom and theory around floor area calculations, room measurements, and floor plans. It’s important these organizations know who you are, and know what you do.
The last important stakeholder group is the local media, specifically the media interested in reporting on real estate technology and small business. I wanted these organizations to know who we were, and what iGUIDE is.
Many of our iGUIDE pros have cloned these techniques with the same and often better results. Identifying and targeting important stakeholders has made us more successful in our markets, has made many iGUIDE pros more successful in their markets, and can help make you more successful in yours as well.
Download, take a look at our stakeholder worksheet and start your own list of target clients and important industry stakeholders.