It’s never too early to start planning how you will make next year better for your real estate business, or how you will wrap up this year as you gear up for the holiday season. When considering your possibilities for the new quarter, start with your goals. Patten Title wants to help you achieve those goals and consider out-of-the-box thinking to improve your business. Consider how you can incorporate any of these ways to streamline, promote and drive growth next year.
HERE ARE 10 WAYS TO STREAMLINE, PROMOTE, AND DRIVE GROWTH NEXT QUARTER.
1. ENCOURAGE THE VALUE OF HOME OWNERSHIP
Consistently stay on message regarding the long-term value of home ownership. Many first-time buyers are afraid to dip their toes into the market because of rising interest rates and bloated inflation. The pitch from real estate agents is that the value of home ownership outweighs the cost of staying on the sidelines over the long haul. Remind new buyers and prospects that eventually, the economy will stabilize.
2. UTILIZE SOCIAL MEDIA FOR B2B AND B2C CONNECTIONS
The maze of information on LinkedIn can be intimidating and hard to sort through for the uninitiated. As you consider your audience and how to connect with them, establish yourself on social media forums. Gaining an edge on LinkedIn, TikTok, Facebook, or Instagram is one of the best ways to generate interest for prospective clients. If you need to, find YouTube videos or take a class or two about how to navigate the social media landscape. Classes are also great places to learn and develop new ideas to help you gain a foothold in your market.
3. BE TRANSPARENT
Don’t be vague about what you can offer in any sphere where you are marketing yourself, and don’t overpromise. This means that you don’t want to tease yourself as the best agent in the market without veritable evidence (because potential clients will search for that info immediately). Your customers generally don’t care about the millions of dollars in sales that you’ve made when they’re interested in what you can do for them. Simple messages, like “preparing your house for a showing,” work better to market your value. Consider what you bring to the market (maybe you have a professional photographer on staff) that you can promote instead.
4. INCREASE YOUR ROI WITH AN ONLINE PRESENCE
Improve your virtual presence. In addition to creating value with your social media accounts, you must have a quality website for your clients and business partners to visit. In 2021, 95% of home buyers used online tools to search for their home, lender or real estate agent. And 90% of buyers said they would use their agent again and recommend them to others.
While word-of-mouth is still the No. 1 source of leads, developing a site that is appealing and has relevant, updated content is essential. A consistent online marketing plan will pay off.
5. USE A CRM
A Real Estate transaction is complicated, and a Customer Relationship Management System (CRM) helps agents track potential leads and organize contacts. You can document every interaction with a prospect and track a sale from start to finish. A reliable CRM helps clarify and streamline your market while giving you time to broaden the audience you want to reach.
6. TARGET MILLENIALS AND GEN Z BUYERS
Millennials and Gen Z workers are making money but aren’t always using it to purchase a home. Gen Z adults are between the ages of 18-25, and millennials are between the ages of 26- 41. Gen Z and millennials want to buy houses but feel homes are not affordable.
Many young and first-time home buyers are hesitant to buy because of rising prices and interest rates. As an untapped market with a potential reservoir, the best way to connect with younger homebuyers is through a clever online marketing strategy. Studies show that’s where they start to look for houses.
7. IMPROVE YOUR LEAD TARGETS
As you consider improving your lead generation, discuss with your staff the importance of delegation and lead improvement. Who will take the priority leads (those who need to sell or buy a home within a timeline)? How will leads be targeted? How will you find priority leads? Create an action plan that allows you and your team to avoid losing time when opportunities arise.
8. FOCUS ON YOUR NICHE
Double down on what you do best. Perhaps you have a geographical area where you’ve become the go-to agent. Figure out ways to lock up a neighborhood. Maybe you prefer to sell high-end homes, which may spend more time on the market. Set a goal to see how many elite homes you can list in a month or a year. Honing in on what you do best allows you to become more efficient and profitable, and you could find yourself working less but making more money.
9. MAKE YOUR BUSINESS BETTER
Hire a pro photographer. Good photos are priceless. A great looking house loses its attraction with blurry, unprofessional photos. If you already have a photographer, take the next step and hire a drone operator for aerial views. Then, begin to delegate. That means utilizing your team in the most profitable way. Who has untapped talents that you could use for social media or video editing?
10. UTILIZE THE POWER OF CLIENT TESTIMONIALS
In a Real Trends survey, when asked “what was important when looking for a real estate agent,” 69% responded, “referrals from people I trust.” This is where client testimonials come in. Develop quick surveys and ways to gather feedback from your satisfied clients. Are they willing to shoot a video as you hand over the keys? Will they write a 50-word testimonial that you can use on your website or social media? Consider ways to translate your success into more leads.