The real estate market is fierce, and if you’re just coming up in the industry, then it’s an uphill battle as you learn the rules and try to keep up with your competition. As you will soon learn, what matters most is who you know and how good you are at creating human connections – while still using current technology.
While it’s true that the real estate market has seen changes in the last few years, the fundamentals of homeownership (whether they’re buying or selling property) haven’t changed much. Buyers and sellers are still looking to hire an individual who knows a thing or two about the market, and they want you to hold their hand and make good on your assurances. So, at the end of the day, the way you relate with your clients will influence your success in the long run. To get you moving, here are a few more tips to master your trade:
1) Enhance Your Soft Skills
You will find that the real estate business is not so different from other service industries; and your people skills will affect your bottom line. Start improving your communication skills, and do this by listening keenly, and observing non-verbal cues that may help you determine which clients are ready to buy or sell a house. Improving communication will help you build your business – but remember, we’re not suggesting that anybody use manipulative sales tactics. This is entirely about your ability to fulfill your clients’ needs.
2) Follow Up with Clients
It may not be immediately obvious how this helps you but keeping in touch with clients is one way to keep the door open so that in the future they feel inclined to refer a client. So, if you find that you enjoyed helping a particular individual find a home, don’t be shy about reaching out, and reminding them to tell their family and friends about your services. A simple email will do, but if you want to send a card for birthdays or other events, that may also be fine depending on how well you relate to your old clients. Don’t be pushy though, as things can quickly backfire if you come off as weird.
3) Build a Reputable Brand
Be smart and professional when conducting business and have a clear idea of the brand you’re building. People you work with will have something to say about you, and they should always find you courteous and useful. Keep in mind that some clients don’t mind an annoying agent, as long as they find their dream house. But the VAST majority of residential real estate clients prefer to work with a likable individual.
Social media can help you establish a reputation; and since many buyers are using the internet to locate houses and view them, it’s likely that they will expect a good agent to have a solid online presence. Rushed advertising will seem generic, so instead of that, focus on building relationships online like a normal person would, and clients will be able to tell the difference.
4) Study Your Competition
This is especially important in your first few months in business because then you can identify potential vacuums in the market or improve on existing business methods. There’s hardly anything original going on in your industry anyway. If your competition is succeeding, it’s likely they emulated an existing business model and made it better. Keep an eye out for new ways of reaching clients or determining how likely they are to make a purchase. For an individual who’s working alone, this is particularly important; however, if you work in a large real estate brokerage, then it will be much easier to find out what your competition is up to because the company is probably be monitoring them already.
5) Understand Your Niche, and Keep Learning
Make sure you know everything about your niche – whether it’s the buying trends, providing notary services, or studying information about your most common clients. There is some power in being an expert in a specific niche, rather than claiming to know every single thing about real estate and offering to buy or sell everything. Be sure you stay up to date with technology, as well. For example, RPA real estate can help you automate many of your real estate day-to-day tasks like background checks, management of various areas of real estate, and listing automation.
Focusing on one or two areas makes you a genuine expert of your trade, because then you will have a narrower focus, and over time, you will start to notice patterns, and this will translate into more business.
6) Make Your Listings Stand Out
Real estate is a highly competitive business, and it’s important to find a way to stand out from the crowd. One way to do that is to make your listings pop with video. Don’t just go into a home with your smartphone, though. Make your listing pop with drone video. You can create dramatic, sweeping videos to draw in your target audience by using a professional drone like the Matrice. Drones will allow you to create smooth, crisp videos that can set your listing above the competition by adding drama which helps generate more interest in your property. Drone videos are excellent for all types of real estate from residential and commercial to land listings.
7) Prequalify Your Clients
Since time is precious, the last thing you need is to spend your days showing the property to people who are not ready to buy or use up your energy answering dozens of questions to a person who’s not sure they want to sell. This will cause you to go around in circles and not really get anywhere. So, to avoid this, come up with your own ways of pre-qualifying potential clients. Ask direct questions and gauge their responses to learn if they are serious. Also, determine early on what your client can afford, and present them with choices that fit into their budget.
Curtis is conscientious Realtor who exudes credibility, commitment, and determination. Curtis’s passion for real estate is apparent through his excellent communication skills and a warm and friendly approach.