In my experience, the best real estate business names account for band unity. Consistency within your branding efforts will make it easier to be found by prospects, increase marketing ROI and build value. For what it’s worth, naming your real estate business may be the first big step you take as an entrepreneur.
Not surprisingly, traditional naming conventions are ambiguous and leave too much room for error. It is no longer enough to simply devise a real estate business name that you like; there is a method to the madness. A successful real estate business will rely on its name for the duration of its viability in the industry, and should therefore follow the steps I outline below before deciding on one of its most valuable assets:
As the owner of a real estate business, you must be able to grasp the importance of brand recognition. The brand you associate with is essentially your first chance to make a lasting impression. The manner in which you brand your real estate business is an investment in and of itself. Brand perception, or how people value your real estate business name, can very easily result in more business than you ever imagined possible. Outside of increasing exposure to your company, there are droves of people willing to spend more based solely on brand recognition alone; why should your real estate business name be any different?
Over the course of developing a brand identity, don’t be surprised if your journey will call for you to step out of your comfort zone. Anyone who knows anything about branding will advise you to put yourself out there; it’s the only way to grow a business name beyond the already established core group of consumers you are capable of reaching. Consequently, neglecting to try something new will only result in what you are already familiar with. As Albert Einstein once eloquently put it, the definition of insanity is “doing the same thing over and over agin and expecting different results.”
Only once you comprehend the importance of branding can I recommend moving on to real estate business names. If for nothing else, your business name will represent your company; it’s the customer facing aspect of your company people will immediately gravitate towards, or away from. Be sure that the real estate business names you are choosing between do your company justice, as you won’t be able to go back once you commit.
If you are having trouble choosing between real estate business names, or simply can’t come up with one, try implementing some of the following tips:
1. Don’t Act Out Of Haste
For better or for worse, aspiring real estate investors are typically anxious to get things under way. However, I want to encourage those of you who are just starting out to practice a little bit of restraint. By all means, let your enthusiasm propel you forward, but don’t let it prevent you from thinking things through. In the excitement of starting a real estate company, it can be easy to get caught up in the hype. Not surprisingly, most mistakes are made when due diligence is ignored, and poor real estate business names are no exception.
Take a step back and marinate on the name of your future company; don’t act impulsively. Choose your words wisely, as the name of your company is something that will follow you for the duration of your career. In my opinion, you should avoid using a personal name (first, last or family). Instead, focus on words that your target audience will be able to make a connection with.
Above all else, the real estate business name you choose to represent your company and its culture should answer more questions than it creates. The name you land on should serve a purpose, and those reading it for the first time shouldn’t have any doubts as to what it is you do. Remember, you are not in the business of confusing clients; let the name you choose represent you in the best possible light.
2. Conduct Extensive Research
In the same vein as the previous tip, do not expect the origination of a name to take a few hours. Choosing an appropriate business name should not be done on a whim, but rather over the course of several thought provoking days. Be mindful of the manner in which you choose a name and, above all else, don’t settle. The business name you land on will represent the face of your company until you leave the game. The last thing you want to do is come up with a name you will regret a few years down the road; it must have a significant amount of staying power.
The most successful names in every industry, no matter how simple they may seem, are the direct result of extensive research. Do not, for one second, think that the first name you come up with should be sent to the printing press. At he very least, spend a weekend formulating potential candidates. Once you have a list of viable business names, proceed to dig a little deeper; now is where you find out if your idea has legs.
It should go without saying, but you must first determine whether or not the name you have landed on is even available. You must be absolutely sure that the name you decide on isn’t trademarked or copyrighted. Once you are positive that the business name you like is in fact available, I recommend cross-referencing it with your alleged competition. I can assure you that you will not want a business name that is in any way similar to that of your competition. Remember, the best real estate business names are ubiquitous within a certain population. Do what you can to differentiate yourself from those you are in direct competition with.
At this time, you will also want to evaluate the name itself. Does it illustrate the nature of the business in a clear and concise manner? Is it something you will be proud to have representing your company in 10 years? Can it be misconstrued in any way whatsoever? Does it offend anyone? Be sure to answer each of these questions, and many more just like them.
3. Make It Marketable
The best real estate business names market themselves. At the very least, they will contribute to a sound marketing strategy. Consequently, it is entirely possible to come up with a name that is more difficult to market than others. The last thing you want is an awkward name that impedes the exposure of a company brimming with potential. That said, the name you land on should facilitate a proper marketing campaign. I encourage you to consider how it will be used in future campaigns, as it will serve as the face of your company for years to come.
In marketing your real estate business name, do not neglect the support of complimentary platforms. A pronounced online presence is absolutely critical in marketing real estate business names. In formulating a company name, be sure to confirm that you can acquire an appropriate web domain. The URL of the website you eventually build should closely resemble the name you decide on. What’s more, you should check to see if it is available on every social media platform: Facebook, Instagram, Snapchat, Twitter and anything else you intend to use. This step is just as important, if not more so, than choosing the name itself. If for nothing else, you must maintain consistency across every medium you choose to broadcast yourself on.
Any future attempts to borrow, forge lasting relationships, franchise or even sell off are contingent on the real estate business name you choose at the onset of your career. Be sure to follow the steps I outlined above if you hope to land on a name that will represent your company in the best possible way. Remember, real estate business names represent more than what you do; they are the face of a franchise.