Real estate, like most other industries, has some strict regulations. Not only do real estate agents need to abide by certain rules when signing paperwork, but they must also do so while marketing properties to potential new buyers. In fact, you are sure to learn more about the limitations in place in your real estate continuing education courses.
Cold Calling & Telemarketing
While cold calling is not uncommon in the world of real estate, the passage of laws in the last 15 years has changed how real estate agents are allowed to use it. Cold calling can still be profitable, but you must consider these changes when you develop a marketing plan for your business.
Since the 1990s, 26 states have passed laws regulating who can cold call private residents with “Do Not Call” lists. Unfortunately, you might see the blowback from this kind of legislation even if you are not a large company. If you are caught calling people on the list, you may be fined significantly.
You can avoid fines and other consequences by understanding your state’s cold calling laws. Training your salespeople and keeping documentation about changing regulations is beneficial.
In your real estate continuing education courses, you will also learn more about best practices for sending email messages to clients and potential clients. A newsletter sent via email is a great way to gain referrals, which are crucial to real estate as a business.
To abide by best practices, you should send just one or two emails per week. Otherwise, you may risk feelings of harassment or annoyance from potential clients.
Search Engine Optimization
You will find no hard and fast laws regarding search engine optimization, but you will have a lot to consider when you begin marketing on the Internet. You will find your most effective technique is to focus on local searches, using keywords that are geared toward your city and state.
You should also ensure that all the information you use in your marketing tools is correct. Additionally, your state will typically require that you designate your specific professional status on all marketing materials.
Posted Signs & MLS Listings
If you post a sign in front of a home that says, “Coming Soon,” you should pay close attention to the Code of Ethics. Specific rules exist determining how quickly you must enter a property into MLS after signing an agreement to list. For instance, you cannot post a “Coming Soon” sign outside a property to allow your firm the only access to the property. You are required to do what is in the best interests of your clients.
While you are allowed to clean up photos of a house, you are expected not to change physical conditions and qualities. In fact, doing so many violate the Code of Ethics. For instance, you are not allowed to erase obvious defects from photos highlighting a home’s foundation.
Real Estate Continuing Education
One of the best ways to stay up to date on changing trends and regulations in real estate marketing is to continue learning about them. Keep up with real estate continuing education to avoid falling behind. Start your training today!