A real estate company deals in different types of properties, and it has to market itself wisely to drive potential customers. But most importantly, for a new company, its name matters the most for the customers to get some hint of what the services and values it delivers. So, a business name should be carefully picked.
So, you want to start a real estate company. You have already spent many years as a real estate agent or broker. Now, you want to put that rich experience into realizing your business dream. But there are many similar companies already competing in your niche market. This means that you should be prepared to face the fierce competition to grab a market share from your business rivals.
Before you make effective marketing strategies, take the crucial step of naming your company appropriately. Do not make this common mistake of naming a company casually as it is not something you would be changing very often. Moreover, the name is your identity in the market. It is also a way for your potential customers to know what your real estate business does precisely.
Therefore, pay attention to naming your real estate business. Many business owners make some terrible mistakes when choosing a company name and end up paying the price.
Here Are Some Essential Tips To Help You In Naming Your Real Estate Company
01. Reflect Your Niche
Real estate business has many sects and subsects. You may want to start on a small scale just by selling every type of properties. Or, show your expertise by choosing a particular type of property. If you are an experienced real estate agent or broker, the chances are that you have narrowed your niche to a certain kind of property or a geographical area. The name you pick for your company should represent your niche.
For example, if your company intends to deal in a resort and vacation homes or luxurious home, or home for first-time buyers, the name should tell it clearly to the customers. An advantage here is that such a name is incorporated into your real estate logo design. Such a logo mentioning your niche attracts customers who are interested in that type of property and becomes an effective marketing tool as well.
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02. Ask For Help From Your Team
You surely have a team of people who will be running your real estate company. Take their help in naming your company. One of the best ways to get their advice is to bring them around a table for a brainstorming session. They know who your competitors are and how a name can stand out in the market. You may need more brainstorming session if the first one does not yield the results.
But do not forget to set some outline for naming before you start brainstorming. For example, tell the team straightforwardly that you do not want any quirky or whimsical names. You can also inform them about your preferences regarding property logos and how the name should fit in your company’s logo. Tell also that you want to avoid some often-repeated words, and so on. This will help them avoid unnecessary wastage of time and energy when thinking over the names. Encourage them to discuss the pros and cons of the names that come up during the session.
03. Research Your Competitors
A business thrives and grows if it stands out in many ways from its competitors. So, while as a real estate agent or broker, you will be marketing your services, make sure that your company’s name stands out. Make a list of the similar companies in your vicinity. They may be using some common words in their names. To stand out, use the words that are unique and never used before in company names in real estate business.
Another point to consider here is that a unique name that stands out will also help in generating exciting but relevant real estate logo ideas. Your logo will be the face of your real estate business.
04. Simplicity Is The Key
Any name you settle for should be simple and unique. Simplicity is always an advisable tip even when you design a mortgage logo or any other design material of your company. This is because the customers get a message with ease with a simple name and design.
When picking a simple name, it implies that it surely be easy to pronounce. People should be able to say it loudly and clearly. If there are any complex words or tongue twisters and words from alien cultures that your target customers cannot relate with, then ignore such a name. Usually, a real estate business name is not more than three words long. Avoid stretching the name beyond three words, though it is not a restriction for a unique and creative name.
05. Use Name Generators
To make the job of naming a business, including your real estate company, becomes an easy task with a name generator site. There are a host of name generator websites that you can explore. These are known for generating dozens of names in response to keywords typed in their search box. So, type a keyword related to your real estate niche, and a long list of relevant names are displayed on the screen.
All such names are not necessarily unique and appropriate. But these names give you some ideas. Try using a few of these name generators. It may be that you get shortlist some names that you can discuss with your team members. Remember that your logo designer will love to have a unique company name of your real estate business. The designer will find one such a name as inspirational to get new design ideas.
06. Make It Your Identity
Never take the company name lightly as it is the first step to build your brand identity. When people start making a perception of your real estate business, people start recognizing your company as a trustworthy source of the services from there. So, pick an outstanding name that helps in building your brand at the later stage of your business.
07. Convey Your Brand Personality
What could be your company’s brand personality? You should first define it precisely and write it down on a piece of paper for guidance. If you can attribute some human characteristics to your brand name, that will be the personality of your brand. These are the characteristics that your customers will relate with. For example, if you deal in high-end properties for affluent people, then your brand personality may be having characteristics of sophistication, style, aesthetics, elegant, and so on.
With brand personality clearly defined through your real estate company name, it will also help in generating many creative graphic design ideas for logos, business cards, brochures, and other marketing materials of your business.
08. Give A Good First Impression
A good first impression can set your business on the growth path. You can make the impression in a lot of ways. For example, hire graphic design services of an experienced designer to create a unique marketing and advertising campaign. Similarly, your very name of the real estate company makes a lasting impression if it is simple, unique, catchy, and memorable. The right name will give the impression that yours is a professionally run business.
09. Make Sure No One Owns It
It is also equally crucial to check that the name you picked does not infringe the rights of other business. It may be that the name is already registered as a trademark by some company. In that case, you will not be awarded the trademark, which is crucial to run a business in the competitive world.
So, visit the state authority’s site to check if the name is available as a trademark. Also, note that your name plus your logo will be registered as a trademark so that no one can use it. Therefore, before you create a logo of your real estate business, check its availability as a trademark.
10. Ensure That The URL Is Available
Not just the trademark availability, you should also check if the domain name after your real estate company is available. Choose a name that you can register as your business domain name, which will be an address of your company and business on the web. Your potential customers will find the business on the web using the URL.
So, make sure that before hiring a professional graphic designer to design your business website, you have secured the name as your URL or domain name. You can check the domain name availability quickly using many domain-registering sites on the Internet.
11. Ascertain A Social Media Handle
Your real estate company must be visible to your customers on social media like Facebook, Twitter, and other channels. But your company name also must be available as a social handle. Just as you want to have a unique company logo design, your social media handle should reflect your business. This means that the username you look for your social media pages should be available.
These are the basic but essential tips to follow when you set out to name your real estate company. But have patience as you may take weeks to settle for an attention-grabbing name.
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Your startup real estate company needs a name that is simple but memorable. It should straightway convey your market niche to the potential customers. But make sure that the name got through brainstorming is also available as the trademark, URL, and social media handle.