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Struggling Real Estate Businesses: How to Improve and Compete with Competitors
by Lizzie Weakley Wed, 03/08/2017 - 14:03
If you're a passionate realtor who loves selling homes, it can be pretty devastating to learn that your business is struggling. However, there are many ways you can turn your business around. Following these tips will also allow you to get ahead of the competition and succeed.
1. Customer Service and Professionalism
As a struggling realtor, it may be easy to remain focused on you and how poorly your business is performing. Instead, it's important to change your perspective and focus on the customer and how you can assist them. When a potential home buyer walks into your office, it's important to greet them warmly and lay out the red carpet for them. Don't serve with a mindset of desperation. If you do, that will bleed through and you'll turn away customers. Focus on what the customer is looking for since a home is one of the largest purchases they'll make in their lifetime. Remember to return phone calls and check voicemails within a reasonable time frame. These details will make a major difference regarding who does business with you.
When you invest in great educational tools, you also invest in yourself. Applied knowledge is power. When you learn new things regarding your field, you'll be better equipped to succeed. Education doesn't just come in the form of an undergraduate or graduate degree. While these degrees are helpful, you can get an education in other ways. Start to attend conferences. Try to attend the smaller conferences so that you can network and get to know the people there. If you're swimming in a sea of thousands, it can be difficult to connect and really get an impactful experience. Furthermore, read books. Earn certifications and get a mentor. The more you focus on improving yourself, the less relevant your competition will be.
3. Social Media Presence
If you don't utilize the power of social media, you'll miss out on a ton of great business. With social media, it's important to figure out what the definition of your brand is. You'll need to lead with this in mind because people will reach out to you based on the value you offer. For example, if you're a realtor who helps first-time home buyers, consider posting articles about saving for a home and the process involved. You can facilitate video workshops like they do on Success Path on topics such as home maintenance, home design, home staging, and more. Start an informative blog and post all the content on Pinterest. Make sure to have eye-catching graphics to make your content as people pin what looks interesting and helpful. Whatever your angle is on social media, make sure you deliver value to your audience and it will grow.
A new way to show homes is through the use of a live streaming app. You can use a few apps to do this. Periscope, Livestream, Facebook and YouTube have live broadcasting capabilities. If you decide to do a live broadcast, this can easily increase your visibility. Everything is moving towards digital platforms, so take advantage of it. This is a win-win situation for anyone who wants to see a specific home but doesn't have time to visit the location immediately. It's also great for someone who just wants to see what's on the market to narrow down their options. It's also a great way for your customers to save gas! Do your best to make sure the lighting is good and the device is fully charged. If you need to walk with a mobile hotspot, do this so you can have a flawless connection.
When you apply these four tactics into your real estate business, you'll definitely see growth over a period of time. As long as you remain dedicated, consisted and focused, your business will go from struggling to thriving!