The real estate industry can be a valuable ally and a serious foe - and it seems that it switches back and forth without any notice at all. For the professionals who are a part of this industry, finding clients and ensuring that their business can survive - and thrive - in the ups and downs is a priority.
In order to do that, it all comes down to attracting clients on a regular basis. The marketing strategy has to be effective, and even when sales are strong an effort has to be made to bring in more people and continue to get the word out. Otherwise, when sales start to slip as the seasons change, it may be tough to continue to rake in a profit.
If this sounds challenging, it really isn't. In fact, here are a few effective tips and tricks to bring in additional business year-round:
Be creative when getting the word out
New real estate agents need a way to announce their venture to their friends, family and the world. However, many budding professionals decide to attract clients by sending out an announcement letter, Jennifer Allan-Hagedorn wrote in an article for ActiveRain. While these can be nice, there are many better - and more unique - ways to tell everyone that a real estate agent is open for business.
For example, Allan-Hagedorn recommended offering something of value, instead of simply asking for referrals. This approach can lead to more new clients than many other strategies. In an email, it can be beneficial to provide a promotional item or a free service. Savvy new real estate agents may be wise to avoid announcing that they are fresh-faced to begin with, and simply cut to the chase. Act like this has all been done before, and people may be more inclined to pick up the phone and call. Or, if the time is right, professionals could even send out holiday cards with contact information enclosed. Starting out personal is a smart way to bring in more clients.
In addition to these methods, new real estate agents will also want access to a wide range of information on their local housing markets. In the past, this was only achieved by heading down to the local courthouse. Now, it can be done with CRS Data's suites and solutions. Acquire mortgage records, warranty deeds and much more, right online.
Learn what the customers want
Real estate clients come in all shapes and sizes, from the small family in the U.S. to wealthy international buyers interested in luxury homes. Given the scope of potential customers, new agents may want to take the time to get to know the people shopping in their market.
Bernice Ross, a contributor to Inman News, wrote that this step can be accomplished as soon as a referral comes in. This includes asking about where they are from, what their profession is and what their personal preferences are - or any other bits of valuable information. With this knowledge in hand, it will be easier for agents to find them an ideal property, or answer any and all of their tough questions.
Moreover, clients need advice and support. Buying a home is a major investment, and for international buyers and domestic ones, it can help to have a friend in the process. Ross explained that agents must be able to navigate clients through homebuying and selling, including offering up recommendations for other professionals. These include home inspectors, home appraisers, lenders and many more. Providing this level of service will demonstrate industry expertise and ensure that clients keep coming back time after time.