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Real estate is a highly competitive market. A large number of real estate agents & brokers compete for the same leads, which makes the competition even more difficult. Furthermore, technology has made it easier for consumers to access information about properties, which has increased competition among agents and brokers to attract and retain clients. Therefore, it has become extremely important for agents and brokers to differentiate themselves by building a strong reputation, providing excellent customer service, staying up-to-date with the latest news, update & trends and developing a strong position in your niche market.
So, how to close more real estate deals & win the market effectively? Here are the five proven strategies to boost your real estate conversions.
Everything is going digital in this information age. Consumer buying behavior has shifted dramatically in the recent years, as more & more buyers have started to prefer shopping online. Having a digital presence lets your potential customers discover your business online when they are searching for similar businesses offering services like yours. It helps you showcase your listings, share industry news and information, and establish yourself as an expert in your local market. Having a strong online presence can also help agents to generate leads, build credibility and stay top-of-mind with potential clients.
A few quick-&-easy ways you can start for free is with,
- Google My Business : It helps you create your business profile on google showing your business details like working hours, contact details, address & your website link.
- Social Media Platforms : Create profiles on platforms like Facebook, Instagram & YouTube to build your followers list & brand awareness.
- Email Marketing : Promote your Listings, offers, new project launches, etc.
To learn more about building an online presence, here’s a quick video you can watch to understand “5 Easy Ways To Take Your Real Estate Business Online.”
How soon do you respond to your inbound inquiries? The same day or the day after? You would be surprised to know that even if you’re calling your leads on the same day you’re still way behind your competitors. It’s very important to reach out to your leads within the first 15 - 30 mins of inquiry. The earlier you try to reach your leads, the more chances you have to close the deal. Fast responders win up to 50% of sales. Your response time can make or break a sale. And it’s generally true because, usually when someone puts in an inquiry they expect businesses to reach out to them at the earliest. So, ensure that you don’t waste any time as soon as you receive a lead and try to get in touch with them as early as possible.
If you don’t believe in what you say, even your customers won’t! As a real estate agent you should sound firm & confident in your approach. And confidence comes through knowing your business well. If you don’t know the ‘ins-&-outs’ of your market, you won’t be able to negotiate fairly with your clients and sell a convincing pitch. Your clients need to be assured that they are in safe hands & they are not making a wrong -decision in dealing with you. It’s simply about speaking the facts right & answering your clients requirements patiently. Stay up-to-date with the latest market trends and local regulations, and be able to answer any questions your clients may have.
Usually, the buyers are not ready to make a decision. They need someone who can guide through the entire process. And for that, they will want to deal with someone who is an expert in their field or at least knows what they are speaking. Remember, it’s important to gain the client’s trust before persuading them to close the deal.
Having a portfolio of past work can be a valuable tool for real estate agents as it can help them to build trust and credibility with potential clients. Build a portfolio of your recent property listings & dealings you have done in the past. This helps you to present a comprehensive and well-rounded view of your work, the types of properties you have worked with, the areas you cover and your sales history, which will give clients an idea of your overall performance and experience. Take professional photographs of your listings, and create virtual tours that showcase the property in the best possible light. A professional portfolio can also help agents to differentiate themselves from their competitors by showcasing their unique selling points and strengths. Having a portfolio of past work can be an effective way for real estate agents to showcase their expertise, build trust, and close deals.
Use testimonials and reviews from satisfied customers to build trust and credibility with your potential buyers. Display testimonials on your website. In case you don’t have a website, try listing your business on ‘Google My Business’ as more than half of the population today searches everything on google. Plus, it also creates an impression of coming across as a more genuine & trusted business as compared to your competitors. Once you create a profile on My Business Page, start requesting your customers to leave their valuable feedback & share ratings about their experience working with you. Remember, most of the ‘end-consumers’ like to research about a brand before they even make any inquiries. So, ensure that you have as many positive reviews listed as possible to create a positive impression. And for that, you will have to build a strong client base by providing excellent customer service and going above and beyond for your clients.
Keep reading, networking, and growing your knowledge. Having the right knowledge will help you share advice that actually helps your prospects. And plus, it builds credibility & an impression on your clients. Explore different blogs & articles on real estate. Don’t simply push your clients to buy only those properties you have in your inventory. Rather, understand their requirements, share relevant offers & watch your conversions grow. Keep in touch with potential clients even if they are not ready to make a decision. Consistent follow-up can help build trust and increase the chances of closing a deal.
Build a strong personal brand by consistently promoting yourself and your business through social media, networking events, and traditional marketing materials such as business cards and brochures.
Develop a strong network of contacts, including other real estate professionals, lenders, home inspectors, and contractors.
Stay current on industry trends and regulations by attending continuing education courses and staying informed about changes in the market.
Keep track of your performance and set goals for yourself to continually improve and grow your business.
Leverage technology to automate and streamline your business operations, such as using a CRM to manage your contacts and a transaction management system to streamline the paperwork process.