10 Tips for Growing Your Real Estate Business
You’ve been in business a few years, you’ve learned the ropes, handled some big deals, and created lots of happy clients. But now you’re thinking it might be time to grow your business. How do you do that? 1. Self Assessment Assess where you’re at and where the local real estate market is heading. Get a snapshot of your business’s financial health and how much money you could budget for this new growth. Then ask yourself where you want to take your business next. Visualize the type of business you’d love to have. Then look for ways of making it happen. 2. Scout the Next Big Thing Do an analysis of regional trends in real estate but also demographically and economically. Find the next hot neighborhood. Is a new large employer coming to town? What’s happening in the local community? Gather as much information as you can in order to predict where the next booming area might be or the next housing trend. When you have a few good ideas of what’s coming, then you can design growth plans and marketing campaigns to take advantage and grow your business. 3. Develop Referrals Are you hitting the referrals? Personal recommendations are the best form of advertising. People trust the testimonials of people they know more than a marketing email or cold call. The first step to cultivate referrals is to consistently deliver excellent service. Go the extra mile and maintain vigilant communication with clients. Do a few special things or gifts so clients remember you. Then after closing a great deal, ask for referrals. Choose a few of your biggest fans and ask them to write a review online or shoot a short video about how you helped them. Be sure to incorporate great reviews on your website and social media feeds. 4. Time to Start Blogging By now, you’ve probably accumulated a lot of knowledge, experience, and stories that you could use as raw material for blog posts. Real estate agents are hired for their real estate expertise. A helpful blog is a fabulous way to illustrate your expertise and make the case for why people should hire you. 5. Go Local Boost your knowledge of the local community, culture, and amenities. Choose a hot market, and dedicate yourself to becoming the agent for that neighborhood. Learn as much as you can about the area. Then talk about local events, trends, and listings on your blog, Facebook, Twitter, and Instagram. 6. Upgrade Your Visuals You know how important listing photos are to drive interest and get people looking at your listings. It might be time to look at how you could improve the visuals you use in your listing information and marketing. Try to stand out from the competition with interesting angles, engaging scenes, and rich colors. 7. Super Charge Your Networking Networking is a key element of top agents’ success. A huge part of the agent’s role is bringing people together: buyers, sellers, agents, contractors, and experts. Make sure networking is a priority and implement systems, such as databases, schedules, and reminders. Use all the available technology and tools to meet new people in the community. Don’t forget Facebook, Twitter, and LinkedIn. 8. Boost Social Media Marketing You may be able to reach new consumers if you commit to active social media marketing. Your social media accounts are great tools for connecting with colleagues, clients, prospects, and fans and promoting listings, events, and your must-read blog posts. Social media is also an effective way to get beautiful property photos generating buzz about your listings. Twitter is insanely popular, especially with millennials. Instagram is a fun way to draw attention to beautiful houses, unique features, and in-demand neighborhoods. 9. Hire Assistants When you’re growing your business, you might be expanding into different markets or trends and taking on more clients. Consider hiring an assistant to help handle the increased business. Assistants can implement your new and improve networking systems and marketing plan and do a lot of research on the local market. 10. Learn Something New The real estate industry offers tons of opportunities to expand your knowledge because it is varied and always changing. Explore new trends, local market factors, negotiation tactics, effective communication, staging tips, pricing, or property management. Learning in the digital age is super easy. Online courses make it convenient to learn new things at your own pace anytime you want.