Real estate is a lucrative yet crowded market. The good news is there will always be need for this market; why, we all need houses, commercial centres to be built, repaired when outdated and maintained. You can set up and grow a thriving real estate business if you can differentiate yourself from competitors and provide value to sellers/buyers. These 6 tips can help you with growing your Real Estate business;
Focus on what is important
When you are running your own business, it can get difficult to remain focussed when you have too many distractions and tasks to do. You end up spending time with clients who bring no revenue and invest time on tasks which are not that important. It is important to focus your efforts on clients who bring more revenue and not spend time on ineffective tasks. It can take few months on time to sell a property. Work out what methods of marketing and sales work for you and focus on them.
Attend Networking events
To succeed and grow business in any industry, you need to develop relationships with people who can refer customers and more business to you. There is no better place to make those contacts in networking events. However, you need to approach people in a targeted way. If you know someone attending the event who knows them, ask him to introduce you to them. Try to attend at least 2 networking events in a month to get better results.
Real estate management system
All successful real estate agents have systems in place to keep track of their progress and add value to their clients. You will have to perform various tasks such as scheduling appointments for viewing, assigning clients to agents, sending emails, sharing documents, sending appointment reminders, marketing properties and taking payments etc. To perform all this manually without a system will be time consuming and result in overlapping of work. To avoid this, it is best to have a management system in place. Grow in cloud can streamline entire workflow and automate admin tasks to help you save time and increase productivity
Use social media
There is no denying social media has transformed our lives. People use social media to share news, stay in touch with their friends and follow trends. More and more people are looking for social proof before they make a decision about buying a product or service. The consumers expect to see business social media presence and not having will affect your business growth. There are many social media channels such as Twitter, Instagram, YouTube, Facebook and list goes on. Try to get remain active on these channels and regularly run promotions, share content to generate leads.
If you are not using social media, start using it now. We would suggest start with the largest social media network Facebook; it has 2.07 billion monthly users. You can create your business Facebook page and share news feed, add photos and advertise properties for rent and sale. Using grow in cloud, you can take bookings directly from your Facebook page. You can do a lot more on Facebook to grow your business. For instance you can select audience you want to target for selling a property and boost your reach by setting a marketing budget of as little as $10 dollars a day
Email past clients
This is where management/crm system will come useful. You would know from how many clients are interested to buy/rent a property in a particular town and are yet to buy one. You should engage with the clients who you already have in your CRM system via email. It will help you build a better relationship with them and if the client is ready to buy, they are likely to at least make a contact with you. Make it easier for them to contact you by adding a CTA (call to action button) in emails you sent. This will tremendously increase email response rate.
Delegate admin tasks
You should spend most time on tasks which will bring most value to your business. That is staying in touch with clients, negotiating deals and building partnerships with stakeholders in the industry. The less but important admin tasked can be delegated to somebody else. You can’t manage everything yourself and if are perform admin tasks, you are performing higher opportunity cost. You don’t need to hire a full time administrator if you don’t need one. You can hire a virtual personal assistant on hourly rate. They can answer phone calls, book appointments, liaise with leads, and perform adhoc duties when required. You can find them on freelancer websites like fiver, upwork and peopleperhour.