The real estate market is overcrowded. In the US alone, there are about 2 million registered real estate agents. You need not worry about this figure because this industry is one of the fastest-growing industries. However, to penetrate this industry and make an impact requires that you work hard and have a good marketing strategy for your real estate business.
If you are just starting, you might think this market is impossible to penetrate, but that’s not the case. There are steps you can take to reach new clients, make more sales, and grow your business. Some of these steps include:
Your real estate business can never grow if you don’t network. The higher the number of people you connect with, the higher your chances of getting a lead. Networking is more effective if you use a targeted approach. Surround yourself with people who understand the real estate business so they can hook you up with new clients.
Cold calling is a good strategy for growing your real estate business. Take your time to call sellers that have an expired listing. Expired listings are those that have not sold their property before the expiration of the listing contract.
Some ways of getting expired listing include:
- Get them from Multiple Listing Service (MLS)
- Search public records
- Contact fellow real estate agents
- Purchase the expired listing
- Use Mashboard
- Use social media ads
- Network With Business Owners in your locality
- Send an expired listing letter
The above list is by no means exhaustive. You can explore other means of getting an expired listing. Once you get the leads, use proven cold calling scripts to contact the owners of these listings to give you a chance to sell their property or find a renter for them.
You must be a good communicator to be successful. Learn dialogues and scripts from books or the internet to help you communicate effectively.
Keep in touch with previous buyers/renters by email and mailing
After closing a deal with a client, don’t throw their contact information away. Keeping in touch with your old clients is the best way to expand your network by getting referrals.
If you serve a client well, he’ll be more than willing to connect you with a friend or a relative. To keep in touch, send them cards for birthdays and anniversaries to remind them about you.
Have a website
There’s no better way of growing your real estate business than having a professionally designed website. A website will prove that your business is credible and can be trusted. It also makes you easily accessible because it will have your contact information.
Another advantage of having a website is that it will make your business more visible, and your prospects will get you through Google searches.
Once you have a website, the next step is to blog. Blogging is a powerful marketing tool that, if done well, can drive traffic to your website.
An informative blog will establish you as an expert in the real estate industry and help you gain a huge following. Blogs with relevant keywords will also make your website appear at the top of the Google search results page.
If you are using a customer relationship management (CRM) system that tracks your leads, you need to take time to engage with them, especially those who are still undecided or appear indifferent.
When sending an email, make sure you include a call to action (CTA) at the end of it to make it easy for your prospects to respond. Email marketing is cost-effective.
Referrals are great for growing your real estate business. About 75% of leads come from referrals. However, remember that you’ll get referrals only if you offer excellent service.
If you are sure your services are top-shelf, ask your satisfied clients to refer you to their family and friends. You can go a step further by offering referral gifts.
Use Social Media
There are about 3 billion people who use social media today. This is a big market that you can’t ignore. If you want your real estate business to grow, you must strive to have a strong social media presence.
The platforms available at your disposal include Twitter, Facebook, Instagram, LinkedIn, etc. You can hire someone to manage your social media platforms as you concentrate on your business’s core tasks.
Evaluate what is working and what isn’t
Be in charge of all the aspects of your business, including marketing and sales. Look at your budget vis-a-vis what you want to achieve. You can make additions or cuts where necessary and even drop marketing tactics that don’t bring results.
Get a partner
As your business grows, you’ll need strategic partnerships to boost your client list. Work together with other companies and businesses so your business can be known. You can also partner with other real estate agents so they can transfer clients they can’t serve to you.
Attend professional development seminars
As a real estate business, you need to attend educational classes and seminars to expand your knowledge. You can also join online platforms that offer training on matters to do with real estate. Real estate is a dynamic industry, and it’s only through continuous learning that you can keep yourself up to date.
Now that you know the tricks you can use to grow your real estate business, what remains is implementation. To implement the above strategies, be committed and dedicated. If you implement them effectively, you’ll start seeing results within a few months.
Featured Image by Paul Brennan from Pixabay