To grow in the real estate sector in 2024, it's crucial to improve your sales skills to acquire properties and expand your business. Once you've mastered these two stages, aim to lead a team and ultimately build your business entrepreneurially
1. Be a skilled salesperson . Focus on building trust and interpersonal relationships. Prepare properties for viewings, highlighting their strengths. Improve the quality of your listings with attractive and comprehensive ads.
2. Grow by acquiring properties . Evaluate incoming appraisals based on the owner's need, urgency, realism, and financial capacity. Then, focus on short- and long-term prospecting to maintain a steady flow of properties.
3. Develop leadership skills . As your property portfolio and sales increase, build a team to manage this growth. Focus on leading rather than selling or acquiring, delegating responsibilities.
4. Build your business with an entrepreneurial vision . Innovate constantly, incorporating current technologies and communication methods. The goal is to differentiate yourself by creating your own unique offering in the market.
Be a skilled salesperson
Being a good salesperson often presents challenges, but it's also the area where you can improve the fastest. Mastering this skill is crucial, as it's the only way to increase your earnings. Without income, growth is impossible.
If you have properties in your portfolio and the necessary tools to conduct business but aren't closing deals, this should be your starting point. Here are 3 ideas to help you improve your sales:
1- Focus on human relationships to build trust with your customers: they seek and need a human and friendly approach, one that pays attention to their needs and is available to resolve their concerns.
2- Prepare for viewings: the property should be clean, tidy, well-ventilated, and well-lit before the visitor arrives. During the tour, highlight the property's strengths and be ready to answer questions, without being intrusive or dominating the conversation.
3- Improve the quality of your listings: A complete listing will attract more clicks and speed up the sale of your property. To do this, you should include:
- Catchy title
- Flat
- 360º virtual tour
- Accurate and attractive property description
- Professional photos and videos
- Virtual Furnishing
- Featured on the portals
Once you are able to close sales and generate stable income for your business, you can move on to the second step.
2. Grow by acquiring properties
It's important that you have the ability to evaluate the appraisals you receive. Don't focus on rating the property itself, but rather on the seller.
For diagnosis, we rely on the acronym NURC, which represents four characteristics that a person must have to decide to acquire their property:
- Need is the driving force behind putting your house up for sale . This could be due to changes in your personal or financial circumstances, or any other factor that justifies the transaction.
- The urgency underscores the need to sell as soon as possible . This can stem from factors such as moving, changes in employment or financial circumstances, among others, that demand swift action.
- Realism refers to a practical attitude regarding property value and current market conditions . It means understanding the economic context of significant devaluation, as well as the fact that we are in a market with high supply and low demand. It is likely that the price at which they manage to sell will be lower than what they would have obtained in previous years.
- Capacity highlights the client's financial and emotional or psychological competence to carry out the transaction . For example, that a loved one has not passed away while they are trying to sell their house.
The real estate agent decides whether or not you take on the property. It's crucial that you choose the client, not the other way around. You must stick to this principle, because if someone doesn't meet any of the four requirements, it's best to reject the property. If you still have doubts about whether an owner has a NURC (National Registry of Real Estate Agents) or not, don't hesitate to contact them again and ask a few questions.
After choosing your clients, it's time to focus on prospecting. In this phase, it's important to continue acquiring more properties, and for that, it's essential to maintain a proactive approach and constantly seek new opportunities. We recommend following these steps:
1. Select a short-term method and work diligently to achieve immediate results.
2. Once you've implemented and optimized your short-term strategy, it's time to incorporate a long-term approach.
Combining
These techniques may or may not work for you, and it's crucial to adapt to the results you get. If you don't see the expected impact in the first few months, adjust your approach and consider trying a different method. The key is to quickly recognize which strategies are effective and which aren't in your context. Channel your energy and resources toward those that prove most effective and, crucially, toward those you actually enjoy implementing.
3-Develop leadership skills
As you acquire more properties and your sales increase, managing your business without a team will become increasingly difficult. Therefore, you should start surrounding yourself with colleagues who can assist you and help you increase your monthly transaction limit.
It's crucial that you focus on leading rather than selling or acquiring. The idea behind bringing people onto your team is for them to take on the responsibilities of the other stages we mentioned. Think about empowering colleagues to delegate tasks.
4. Forge your business with an entrepreneurial vision
This stage is about innovation and thinking outside the box. To exceed growth targets, you must bring a fresh perspective to the market, identify unexplored areas, and devise a new approach.
Here are some ideas to give your business an entrepreneurial perspective:
- Incorporate the latest technological innovations into your business : these could be virtual tours, drone videos, new sales or prospecting methods, and the use of the latest tools; anything that can help you stand out in an innovative way to your customers.
- Adapt your business communication to current consumer habits : creating content for the internet and social media, and using resources that allow you to reach a massive audience, are excellent ways to start a business.
The most successful real estate brands and models didn't simply follow the conventional path; instead, they created new strategies and formats for their clients and employees. However, it's important to be careful: it's not about copying or trying to be as similar as possible to those who innovate and succeed in the market, but about creating your own unique approach.
To lead and succeed, it's not enough to simply stand out from the crowd; you need a unique selling point, something that can't be copied. To achieve this, you can create barriers to entry—difficulties that will be presented to those who want to imitate you.
Here are 5 barriers you can implement to protect your competitive advantage:
1. Register any intellectual property associated with your business, such as trademarks, patents, copyrights, and trade secrets. This will provide you with legal protection.
2. Maintain constant innovation in products, services, or processes. Continuous improvement and adaptation to market needs create a competitive advantage that is difficult to copy.
3. Establish exclusive agreements with suppliers or distribution channels that are difficult to replicate.
4. Design your business so that those who try to imitate you must pay high costs to adopt your model.
5. Build a strong and unique brand in the market. A distinctive identity makes it more difficult for others to be perceived as better or equal to your service.
Source: https://www.deinmobiliarios.com/.
