Real estate industry is a wide and profitable segment that will hardly ever fall into decay. That's why it is not surprising that many companies provide their services in that business area. If you are going to enter this market, one of the critical steps you have to take is to find an awesome name for your company. I'll try to help you with this task.
First of all, you should realize that the name you choose will be at the forefront of your business. It is something that creates a first impression of your brand to your prospective clients and impacts their choice between your company and your competitors.
There are several options in naming. The simplest one is to hire a business name consultant. The pattern of this choice is really trivial: pay money - receive name. To get a good name - pay good money. The second variant is to think up a perfect name by yourself. It might seem to be easy, however, it's not as simple as you think. You have to create a catchy, unique name, easy to remember and relevant to your industry that provides the right thoughts about what you are actually doing. You may face significant difficulties before you come up with a great one. The following tips will help you to create an excellent business name.
Strings of numbers and letters.
Do not choose a company name with strings of numbers. Having a name like "123ABC Real Estate" is pointless. People won't treat you as a top professional if you don't invest time and efforts in your name creation.
I know, you think: "This is my own real estate agency and I can give it my name. I'm doing my work good and soon my name will become associated with quality and reliability". But it won't give you any benefit at start. An average person can remember around 150 names without a prompt. Not that little but all names are associated with certain people and their faces. A good and memorable name will give you much more advantage.
Local area name.
As long as you are going to work only in your local area, you can include your city or region in your company name. However, if you run business across the whole country, or even several countries, the area name will restrict you. With time it may become an obstacle for expanding your real estate business.
Tips & Tricks
A real estate company name should include a relevant keyword or a word related to the industry. Surely, you can pick a name like "Wolves Inc." and explain everyone that your company employs the wolves of real estate, i.e. strong experts who can deal with all tasks quickly and efficiently. But people will hardly understand what exactly you are doing without further explanations. You'd better choose a more descriptive name.
Is it short?
As they say, "brevity is the soul of wit". A short name is particularly important if you are going to create your own real estate app. If you manage to find a concise, catchy name it's going to increase your chances for success. There are many names that are on everybody's lips - Redfin, Zillow, Houzz, Trulia, Homesnap. Of course, you may say that all these companies do well because of their innovative ideas and great technical implementation. But who knows what would they do without their neat business names.
Use a name generator.
While brainstorming your ideal name you may feel tired and exhaust your creativity. You may need fresh name ideas, but where can you find them? Try to use real estate company name generator. It's a really good way to get some inspiration and come up with some interesting variants. You can use it like a thought-starter or if you are lucky enough you can even find a name that suits your business perfectly. Here are some name suggestions, it took me a few moments to create them: Diamond Estate, SweetSpot Estate, Tomorrow Realty, CastleRock Real Estate.
There are some common patterns for real estate business names. This is not the only way of naming but this is how real estate company names typically look like.
[Noun] + Realty.
Easy to think up, nothing undesirable, nice visual impression. Customers will easily match your name with your activity, e.g. Big Block Realty, Fathom Realty.
Combining 2 Words Together.
This is a nice way of making creative names. Find words that describe your goal, your major activities and try to make something new of them. Nice examples are ListingDoors, StreetEasy, HotPads.
[Noun] + Realty Services.
Virtuoso Realty Services, for instance, is an excellent name. It highlights company's approach to business and makes it clear that you provide high quality services.
Check available URLs.
It's gonna be a disaster if you find a really good name and then it turns out that this URL is already taken. You can modify your URL name to find available address or you can try to outbid the matching URL. But some domain names may cost up to $10,000 or even more. I'm sure you want to promote your brand through social networks, so check if the username is available on Facebook and Twitter. Of course, if the desired username is already in use you can slightly alter it. However, this may confuse your customers and make it difficult to associate your brand with your social accounts.
Check out that there are no trademarks registered under your name.
If you are going to spread your business to a foreign market, do a research to be certain that your name doesn't mean anything improper for people who speak another language.
Make sure that there's no other definition to the name or some consonant words with negative meaning that can harm your business reputation.
When you come up with a few real estate company name ideas that seem to be available and nice, run them through the following tests:
The name you choose will be everywhere: on documents, on your business cards, in various social networks and articles. Make a draft of a form with your business name, analyze how it looks, how it reads, is it easy to visualize? Write a couple of sentences with the name and examine if it looks well in the context.
Say your name loudly, tell it to your friends or someone who was not involved in the name creation process. What do they think about it? Does it sound good, does it provide any negative or positive associations?
After that, you can run a "memory test". Can anyone recall the name you have told earlier? If some people can remember your company name, congrats it has passed the test!
To summarize everything written above, creating a good name for your real estate business is a very important process and you should approach it accordingly. The name can play a big role in helping you to succeed. Try to avoid mistakes and everything that can harm your reputation. Use a name generator and name patterns to come up with name ideas. Do research to escape the necessity to change the name later. Run some tests for your desired business name. And remember, these are not strict rules but rather recommendations. Don't let them restrict your imagination, be creative!
If you are going to create your own real estate website or mobile app, read this article to learn about costs associated with building a real estate platform.