Podcast Summary
Being present in various channels and utilizing different platforms to expand reach: Reality TV exposure led to becoming the top real estate agent in New York for 3 consecutive years
Exposure and visibility, no matter the platform, can significantly impact a business. Frederick Eklund, a real estate agent from New York, shares his experience of being on Bravo's $1,000,000 Listing New York for the past 5 years. Initially met with skepticism, Eklund believed that being on reality TV would benefit his business, despite the potential friction it might bring. The show's success allowed him to reach millions of people, making him a household name in New York real estate. Eklund's story highlights the importance of being present in various channels and utilizing different platforms to expand one's reach. The impact of this exposure led Eklund to become the number 1 real estate agent in New York for three consecutive years.
Exploring the Unique Uses of Social Media Platforms for Real Estate: While Instagram is effective for visual content and product selling, Twitter's potential lies in push marketing and reaching potential customers quickly, despite its fast-paced nature and challenges in reaching a large audience.
While some social media platforms like Instagram are effective for visual content and selling products, others like Snapchat and Twitter have unique uses. The speaker shares his personal fear of getting addicted to Snapchat and his skepticism towards Twitter for selling real estate. However, he shares an example of a friend who successfully bought a home through a tweet, highlighting Twitter's potential for push marketing and reaching out to potential customers. The speaker also acknowledges the fast-paced nature of Twitter and the challenge of reaching a large audience compared to Instagram's more linear and visual approach. Ultimately, the speaker expresses his preference for Instagram for personal and professional use and his reluctance to join Snapchat or expand his social media presence further.
Empower agents with high-quality content and training: Invest in top-level content and education to empower agents to effectively use social media for their individual platforms, focusing on personalization and value to the audience.
For a forward-thinking real estate brokerage like TELUS Properties, with hundreds of agents and multiple offices, building a strong brand on social media platforms like Facebook and Instagram requires investing in content and education at the top level. Instead of overwhelming agents with the responsibility to create content, the company should produce high-quality video and photography content, and provide training to empower agents to leverage these assets for their individual platforms. Personalization and bringing value to the audience are also important aspects to build a successful social media presence. Companies like United Airlines, which have a large workforce but low social media following, can learn from this approach by building a personalized and valuable brand, rather than just posting promotional content.
Creating authentic content builds relationships and drives business growth: Authentic engagement on social media can lead to significant business growth by building relationships with your audience.
Creating valuable content consistently on social media platforms can lead to significant business growth. Gary Vaynerchuk, in his book "Jab, Jab, Jab, Right Hook," emphasizes the importance of building a relationship with your audience through authentic and emotional engagement before making a sales pitch. This strategy has helped him generate a substantial portion of his business from Instagram, despite having only a few thousand followers. His success story started with a wine show on YouTube in the mid-2000s, where he gained notoriety in the wine world. Although his online persona may have evolved over the years, he maintains that he hasn't consciously adopted a character but rather embraced his authentic self, which has allowed him to connect with his audience. Technology can significantly improve the home buying process, particularly in the area of paperwork and mortgage processing, by making it faster and more efficient. Startups like those that help people submit adoption applications in 17 minutes and create wills in an hour are excellent examples of how technology can streamline time-consuming and complex processes.
Technology's Impact on Real Estate: Human Expertise Still Matters: Technology streamlines inefficient processes but can't replace human expertise in real estate. A players' role evolves as technology eliminates commodity value proposition, highlighting the importance of navigating complex markets.
Technology can streamline inefficient processes in real estate, such as the paperwork involved in mortgages and listings. However, it doesn't eliminate the need for human expertise and vision. In fact, as technology takes out the commodity value proposition brought by C and D players, A players in the industry become even more essential. The speaker's experience of transitioning from manual processes to technology in real estate shows how much the industry has changed in just 13 years. Despite predictions of the death of the real estate agent, the role has evolved, and the importance of human expertise in navigating complex real estate markets remains. For instance, in the case of Hudson Yards, both commercial and residential real estate experts bring valuable insights to the table. The speaker, who has worked on some of the most significant real estate developments in New York City, including Hudson Yards, looks forward to discussing their reasons for the move and their excitement about the project.
Personal connection to New York drives business growth: Success in business is driven by personal passion and determination, even in the early stages, and the endless opportunities in New York continue to motivate growth and expansion.
New York City, specifically areas like the Seaport and Hudson Yards, continues to evolve and offer new opportunities for growth and business expansion. The speaker's personal connection to New York and its constant change is a driving force behind his decisions to invest and establish a presence there. In the early stages of his career, the speaker built his database through hard work and determination, even without much support or guidance. Now, with the success of his company, VaynerMedia, he's able to expand and manage his contacts more effectively. Overall, the love for New York and its endless possibilities remains a significant motivation for the speaker's professional pursuits.
Balancing Transactions and Personal Branding in Real Estate: Focus on both sales hustle and branding for success in real estate. Be genuine and authentic, leverage technology for wider reach, and commit to ongoing learning and growth.
Success in real estate, especially in the luxury market in New York City, requires a balance between focusing on transactions and building a strong personal brand. The speaker shares his personal experience of starting out as a small player in the industry, seeing every person he meets as an opportunity, and recognizing the importance of both sales hustle and branding. He emphasizes that branding, which includes charisma and authenticity, can lead to significant opportunities, while sales require hard work and consistency. The speaker encourages new agents to be genuine and authentic in their approach, as they grow and learn in the industry. He also highlights the impact of technology on branding opportunities, allowing individuals to reach a larger audience through platforms like this podcast. Ultimately, success is not defined by past accomplishments but by the ongoing commitment to learning, growing, and delivering results.
Being authentic can lead to greater success: Authenticity can lead to increased engagement and a larger audience. Identify your true drive and set clear goals to achieve success.
Being authentic and true to oneself, even if it means taking risks and potentially losing some audience, can lead to greater success in the long run. Gary Vaynerchuk shared his personal experience of holding back in the early days of his Wine Library TV show, fearing that revealing his true personality would hinder his career. However, after considering the potential gains, he decided to "jump off the cliff" and be himself, leading to increased engagement and a larger audience. Vaynerchuk encourages everyone to identify their true drive and set clear goals as a means of achieving success. Additionally, he emphasizes the importance of asking oneself these questions daily as a reminder and motivation.
The Importance of Open Communication: Seeking knowledge and clarity through open communication builds deeper understanding and fosters success. Curiosity, collaboration, and a growth mindset are essential for achieving personal and professional growth.
Open and continuous communication is essential for success. My friend's persistence in asking questions and my willingness to answer them demonstrates this. This exchange highlights the importance of seeking knowledge and clarity, as well as providing accurate and timely information. By maintaining a dialogue, we can build a deeper understanding of each other's perspectives and work towards common goals. Furthermore, this interaction emphasizes the value of a growth mindset, where questions are seen as opportunities for learning rather than signs of weakness. Overall, the exchange underscores the significance of curiosity, collaboration, and openness in achieving personal and professional success.
