Starting off as a residential real estate broker can be easy. However, not everyone can sustain the business in the long run. It requires consistent hard work and dedication. There are no secret hacks in succeeding as a realtor agent but here are some strategies that can help you move forward successfully:
Promote Yourself Online!
From business to individuals, everyone makes their presence felt on the internet.
i. According to Realtor, in order to find a property, 90% of buyers take help of internet.
ii. Consumers searching information related to real estate has remarkably increased by 253% on Google in the last 4 years. (Source: Wikipedia).
Nowadays, it is smarter to consider existing online besides having a physical presence. With the internet being readily available, it is the easiest and affordable way to start your business. One of the best marketing strategies is to hire a developer and build a website. Rank it higher in the search engine and you will have an online presence that is sustainable and cost-effective in the long run. It is also sensible to be active on the social networking platforms, such as Facebook, Twitter. This helps promote your brand towards a targeted audience and let them know your credentials and listings.
Work with other Brokers
It is not possible to cater to every single buyer or seller. The pricing and demands of every buyer or seller might not be your cup of tea. However, instead of refusing prospective clients it is better to co-represent them with your competitors. Refer your clients to your competitors and if the deal goes through, crack a deal out of it on a commission basis. This way you end the deal on good terms with your clients and competitors. Who knows your competitors might refer their clients to you in return if they cannot get through a deal with the clients!
Build a Client-base and Stay Connected
In order to become a good residential real estate broker, it is important to build a strong portfolio based on which other clients can be approached. Keeping in touch with former clients, investors and advocates can get you referrals. This, in turn, strengthens your portfolio and your business will prosper. You can also include your portfolio online to share it with your targeted audiences. Spread your information accordingly:
i. Properties sold/for sale: Include properties information that you have sold and are offering to sell.
ii. About page: Here talk about your credentials, history and success story.
iii. Buyers: Create a buyers page and describe how you will serve your clients and help them get their required houses.
iv. Sellers: Create a sellers page and state how you will help the clients sell their properties.
v. Additional services: In this space provide information about the areas you serve and your ongoing projects. Include details of other services you took part in.
Host open houses frequently
Hosting an open house attracts lots of prospective buyers, providing an opportunity to connect with potential clients and make friends in the industry. It also provides you with an added market exposure. Hosting an open house is very simple and it only requires a small maintenance cost like cleaning and organizing. Therefore, it is better to take advantage of this process and host open houses frequently.
Develop a strong business plan
In order to succeed as a real estate broker, it is crucial to have a long-term plan. If you do not have a proper business plan, the growth will be halted and the future will be left uncertain.
This is how you should schedule your plan:
i. Have long-term and short-term goals.
ii. Be proactive on social platforms.
iii. Make sure everyone in your community is aware of your services.
iv. Organize your client lists and always stay connected with them through, social media, email and telephone.
v. Write informative articles, blogs and guidelines to highlight your expertise, online.