5 Expert Tips for Real Estate Professionals

Real estate professionals are deemed to have an extravagant life. But after the financial crisis that hit the U.S. in 2008, the real estate industry saw a very slow climb thus reiterating that real estate professionals also could benefit from some tips to speed up their business. [2] 

“Environmental change, shifting political climates, volatile markets, rising mortgage rates, and evolving technology trends are just some of the challenges agents are facing everywhere.” [3]

But a 2018 study of the National Association of Realtors (NAR) shows that the year was quite promising for real estate agents. It found that “87% of home buyers purchase their home through a real estate agent”. [4] Hence, realtors have to ensure that they are in contact with enough sellers to meet the demand. Therefore, professionals must work smartly and effectively towards getting a bigger share of the real estate pie. With the emergence of technology and the use of it to improve services, the real estate business can be much more than just open houses! Even promotional tactics have moved on from realtors’ headshots on benches!

So, here we have lined up 5 tips from experts to help professionals in the real estate industry.

1. Expand Your Territory

Imagine that you have set up an office in the city of Santa Monica. It may be possible that you may have ‘low inventory’ in that area. Sellers might be unwilling to sell or sublet a property and buyers might find it cheaper to go to other cities. So, all in all, you might have only 15 properties to sell or rent out in the Santa Monica area. That transaction might occur at any time in the future but you have to pay office costs, advertising, and other overheads every month! Wouldn’t it more feasible if you could have a lookout on properties in surrounding cities such as Bel Air, Glendale, Venice Beach, etc. as well?

2. Unique Selling Point

Why should a customer come to you? Is there something that makes your company more special over others? Do you have a unique selling point? Are you able to provide prospects that are better than other agents? Are you able to keep up with the changing buying and selling trends in the market? What a customer might look for now is different from say 10 years ago. For example, there is more traffic now than earlier. Now a customer might look for a place that is closer to work and easier to commute from. They might look out for safety and crime rates in the area as well as other amenities such as shopping centers, malls, cinemas, pharmacies, hospitals, etc. Are you able to provide properties that are closer to these amenities? Check out other details of what a buyer would consider while purchasing or renting a property in 4 Tips to Get Your Dream Home Faster!

3. Social Media and Professional Networking Platforms

Now with social media and other networking platforms on the rise, you don’t have to rely on primitive ways of advertising. Remember the age-old methods? The major drawback was that a person would not be able to answer all their queries through just a call. Now, because of such platforms, one can get in touch with an agent and interact comprehensively before making a transaction. If you are on Alumni Alliances, then potential buyers reaching out to you isn’t a problem! You just have to make a post in the Marketplace section of Alumni Alliances and you are good to go. Alumni Alliances houses alumni and students from one alma mater. Therefore, you have a larger audience that are dispersed around the USA and the world. You never know where your next customer can be from. So, make a post and show your inventory on Alumni Alliances.

4. Create a Website and a Blog

Isn’t it great to go to a stall that can show off all its wares?

[5] – Photos 1,2,3

It’s difficult for a real estate to house their wares! But nonetheless, customers would always like to know all there is before they invest in a property. Physically showing each property can be time-consuming as well as add up the expenses. A great way to display all your wares in one stall is by creating a good website! Through the website, you can add all necessary details about each property as well as multiple pictures. Another good way is to create a blog about your company. Write about the investment trends in the real estate market today, what a buyer should comprehend before making the ultimate purchase, and achievements that your company has attained so far. Alumni Insider and Tom Donahue’s blogs could be of great help for a real estate professional to follow.

5. Collaborate with other Local Businesses

What you are selling or renting out is a structure, unless you are renting a fully-furnished property. A buyer or tenant cannot get along without the other essentials in the house. So, why not collaborate with other vendors in the community who can sell these essentials at a discounted rate if the buyer decides to buy your property? For example, you can put up standees or posters at the art gallery, ceramics shops, furniture shops, and electronic outlets in your local area. You can collaborate with other businesses to let you advertise your company for free or a nominal charge and in return assure them that you will lead your customers to buy their wares! You can work out a discounted rate that is applicable to only your customers. This is a definite advantage for a buyer to consider buying a property from you since they are getting furnishings at a discounted rate! This will not only help your business but other local businesses in your area.

There’s another way to connect with professionals with the hassles of printing posters or standees. You can get connected with professionals through Alumni Alliances. By publishing posts and interacting with like-minded professionals through messages, it becomes so much easier to reach out to so many people on Alumni Alliances, effectively and efficiently.

These are our 5 best tips from experts for real estate professionals. Do you know of more that could help out real estate professionals? Write your ideas in the comments section below and follow us through our social media handles. Do follow Alumni Insider for more awesome articles like this.

References:

1. Featured Collage – Inspired from – SO YOU WANT TO BE A REAL ESTATE AGENT? (Photos 1 – Michael Discenza, 2 – Campaign Creators, 3 – Khoman Room, 4 – Joseph Keil, 5 – Sharon McCutcheon, 6 – Tim Gouw)
2. 2019 In Real Estate: Bursting Bubbles Or Best-In-Class?
3. The 5 Biggest Challenges Facing Real Estate Agents (And How to Fix Them)
4. 9 Insanely Successful Real Estate Marketing Ideas from Top Agents
5. Photos 1 – Toa Heftiba, 2 – Jon Tyson, and 3 – Job Savelsberg
6. 9 Insanely Successful Real Estate Marketing Ideas from Top Agents