After spending years to learn the ropes of the real estate business, you have handled big deals and created a base of satisfied clients. Now you are exploring the possibility of growing your business and wondering how to achieve the target.
With lakhs of certified agents around, you are likely to feel intimidated. Stiff competition makes you reconsider the possibility of achieving growth in your business. But the good news is that growth is in your hands. You can take several steps to actively grow your business, reach new clients and make more sales in the process.
Bear these tips in mind as you take your real estate business to the next level.
1. Be More Purposeful With Networking
To grow your business, you need a targeted approach. Locate the right people at networking events. Your goal is to connect with people who can help – to share advice and for financial assistance. Focus on meeting with and building a diverse group of individuals. Surround yourself with the people who can help you attain specific business goals.
Networking is a key element of success. An agent brings people together: buyers, sellers, agents, contractors, and experts. Make sure networking is a priority and implement systems – databases, schedules, and reminders. Use available technology and tools to meet new people in the community.
2. Improve Time Management
When you try to reach the end of your job list, it is impossible to grow your business. Focus on what can take you to the next level. One of the biggest causes of lack of time management is distraction – a common problem for real estate agents who have limited desk time and an increasing amount of technologies to manage. An easy-to-use time management tool can enable them to complete specific tasks within timelines.
3. Email Your Leads
If you are tracking you leads with a CRM system, it is time to engage with them —especially the ones who are not yet ready to work with you. These emails offer you a chance to show them your in-depth knowledge of the area. Also, your name becomes easy to recall. When the client is ready, he is likely to reach out to you first.
4. Hire an Assistant
There comes a time when you cannot manage everything yourself. It is wise to hire an assistant. You get some breathing space between reaching clients and making it to meetings. When you are growing your business, you are expanding into different markets or trends and signing up more clients. An assistant helps in handling the increased business and implements your new and improved networking systems and marketing plan. They do a lot of research on the local market.
5. Overcome Fear
Fear of failure leads you to avoid potentially risky or high-value opportunities that could ultimately help you grow your business. When you let that go, you can see opportunities for what they are, and decide whether they will be valuable to your business or not.
6. Develop Referrals
Personal recommendations are the best form of advertising. People trust the testimonials of people they know more than a marketing email. The first step to cultivate referrals is to consistently deliver excellent service. Maintain vigilant communication with old and existing clients. Deliver gifts to ensure they remember you. After closing a good deal, seek referrals. Ask followers to write a review online or shoot a short video about how you helped them. Incorporate favourable reviews on your website and social media feeds.
7. Boost Social Media presence
Managing social media seems to be an uphill task. But millions of people are using it. So it is impossible to ignore. Be active on at least one social network where you can run ads, share content and drive leads. Reach a wide audience of potentially interested buyers or sellers.
You may be able to reach new customers if you commit to active social media marketing. Your social media accounts are fabulous tools for connecting with colleagues, clients, prospects, and fans and promoting listings, events, and your must-read blog posts. Social media is an effective way to get nice property photos generating buzz about your listings.
8. Steady Cultivation of Leads. Not Instant Gratification
Instant gratification in lead conversion is rare, and that should not be the goal of your business process. Yet that is what many real estate professionals seem to expect from their lead generation and CRM systems.
9. Lead Follow Up Beats Lead Generation
There is no worth in generating more leads if you are struggling with lead conversion. Lead generation in itself will not make you succeed. It is what you do with those leads that add to your success. Spend 20% of your time generating leads, and 80% of your time cultivating them. Put more effort into lead follow-up instead of lead generation. You will see a manifold return – even if it is gradual.
10. Carefully Laid Out Processes
You wish to acquire proper laid out plans and processes to lay the foundation for your successful business. Defined systems and processes are necessary for growing success. When your lead generation starts filling your database with leads, but you do not have a set process for how those leads are handled, they are more likely to fall through the cracks before ever converting into a client. You will need to outline a step-by-step game plan for the path the lead will take through the sales process.
11. Self Assessment
Assess where you are and where the local real estate market is heading. Get a snapshot of the financial health of your business and how much money you could allocate for new growth. Ask yourself where you want to take your business. Visualize the type of business you would love to have. Then look for ways to make it happen.
12. Scout the Next Big Thing
Analyse regional trends in real estate – demographically and economically. Find the next hot neighbourhood. What is happening in the local community? Gather plenty of information in order to predict where the next booming area might be or the new housing trend. When you have a clutch of good ideas of what is coming up, you can design growth plans and marketing campaigns to grow your business.
13. Start Blogging
You have accumulated good knowledge, experience, and stories that you could use as raw material for blog posts. Real estate agents are hired for real estate expertise. Blogging is a fantastic way to showcase your expertise and make the case for why people should hire you.
14. Go Local
Boost your knowledge of the local community, culture, and amenities. Choose a hot market, and dedicate yourself to becoming the agent for that neighborhood. Learn as much as you can about the locality. Talk about local events, trends, and listings on your blog, and other social media platforms.
15. Upgrade Your Visuals
You know listing photos are important to generate interest and get people interested in your listings. Look at how you could improve the visuals you use in your listing information and marketing infographics. Try to stand out from the competition with interesting angles, engaging scenes, and rich colours.
16. Learn Something New
The real estate industry offers opportunities to widen your knowledge because it is varied and dynamic. Explore new trends, local market factors, negotiation tactics, effective communication, pricing, or property management. Learning in the digital age is easy. Online courses make it convenient to learn new things at your own pace whenever you want.
There are several ways to take your business’s growth into your own hands, break the clutter and amplify your presence. Test these ideas to find the most effective ones and then look for ways to optimize them for best results.