Real estate is a thriving business with over two million active real estate licenses in the U.S. alone. If you’re wondering how to stay ahead in this business, here are six tips on growing your real estate business!
1. Know Your Market
As a real estate, it’s important that you know the ins and outs of the market you serve. You should know what comparable properties are going for in a standard three-bedroom, two-bath home. Be well-versed in sales data for the zip codes in your area, like knowing the average sales price, average days on the market, the average amount of new listings per week. Know the hot spots in the area that would make the community that much more attractive for a potential buyer. You’ll look like an expert at what you do, making the potential client that much more willing to work with you.
2. Use Technology to Help Engage With Your Leads
Email campaigns can help you keep tabs on past, current, and potential clients to ensure they know to contact you if and when they need a real estate agent. You want to be at the top of their minds for any real estate situation, even if it means referring family or friends. Email service providers, like MailChimp or Constant Contact, have the systems and technical capacity to build your campaigns as automated messages that showcase your skills and establish you as an expert in the field.
3. Respond Quickly to Leads
Things move quickly in today’s markets. With the help of social media, people have access to whomever they need, whenever they need them. To stay in the front, you have to respond quickly. Leads can come from all directions. When you get a whiff of it, you have to respond quickly, otherwise, you could be leaving money on the table. Respond to incoming leads within five minutes. If you don’t, someone else will.
4. Stand Out on Social Media
Today, social media is key for any business, regardless of the industry. It’s good to have a presence on various platforms, but it’s a moot point if you’re not using it to grow your business. Optimize that presence by ensuring you are consistently posting about your business. By consistently I mean, daily. Use this as an opportunity to engage with potential clients, and grow the relationship of current clients. Current and past clients can also provide testimonies of your work for others to see.
Don’t be afraid to use social media to its fullest. Here are some ideas of things you can incorporate into your business posts:
- Stream live video tours of homes on the market or during an open house.
- Congratulate new homeowners (with keys in hand) that you closed.
- Do Facebook ads.
If you’re not on social media, start with Facebook. Open an account and post content about your business regularly.
5. Sell Yourself at Open Houses
That open house isn’t just about selling that house. You’re not only looking for a current buyer; you’re looking for future buyers. So treat that event as an opportunity to sell yourself. One way to do that is to leave a sign-in sheet for buyers to write their contact information. Add their information to your list of contacts to email. You’ll be connecting with them in the very near future because you know they are shopping.
But don’t just wait until after the open house. Be prepared to engage during the open house. Learn what they’re looking for and share other active listings in the area. Also, share your marketing material with them. If they don’t already have an agent, this will show them your professionalism and that you’re an expert at what you do.
6. Hire an Assistant
As a business owner, you’ll need to manage your time as efficiently as possible. That’s where an assistant could be really helpful. An assistant can help with social media posts, house listings, and paperwork to ensure everything that needs to get done is, and in a timely manner.
We hope you can take these tips for growing your real estate business and elevate your business to new levels! Lantern Real Estate Group understands the challenges facing real estate agents today. If you’re trying to take your business to the next level, we have everything you need to market and run your business successfully. Schedule a conversation with us to learn how we can help you reach the next level of your business.