In the real estate market, crises occur every two years so, what should the remaining market players do to not to lose their jobs?
Table of Contents:
1) Introduce additional services
- Find Tenants
- Introduce a trust management service
- Remove real-estate from the housing stock
2) Partnering
- Insurance Companies
- Developers
- Design Companies
3) Choose the proper advertising channels
- Billboards and advertising on transport
- Advertising in Newspaper
- Online Marketing
Introduce additional services
How to increase sales in a real estate agency if there are few clients? Offer them additional services and you will save them from worries. In addition, you will receive additional income. For example, you can:
Find tenants
Find tenants for investors who purchase commercial real estate for offices from your agency and charge an additional fee for this.
Introduce a trust management service
It will be of interest to owners who live abroad; those who rent out several apartments; investors who rent out several places, or entire office buildings. All of them are physically unable to work with their home of rent. So, instead of them doing all work, realtors conclude contracts with tenants, resolve controversial issues up to being in court, monitor the payment of utilities, receive payment (once a month / six months/year), and transfer it to the owner, keeping their 10-20%.
Remove real estate from the housing stock
For example, the owner of an apartment on the ground floor wants to convert it into a hairdresser. So, you need to collect a large package of documents, go through the authorities and fill out various applications more than once. It is a long and complicated process. Therefore, if the agency takes over the whole process, clients will willingly come and automatically helps to increase your income.
Other methods do not directly affect your profit from the deal by selling houses or plots for sale, but they help get a loyal client.
Partnering
For example, a way to increase your income is by partnering with organizations involved in real estate transactions. Realtors send their clients to them and receive a certain amount from partners for this. And these partners provide customers with discounts on their services. Thanks to this service, clients become loyal, turn to the agency again, and most importantly, recommend it to their friends. According to many experts, after introducing additional services and partner programs, the flow of clients increase by about 15-20%.
Who else can real estate agencies work with:
Insurance companies.
Many insurance companies offer real estate insurance to their clients right in the office or advise contacting a partner company. The client receives discounts on insurance, and the agency receives bonuses from the partner for each insurance policy.
Developers.
Many agencies advertise projects under construction and look for buyers, telling them about discounts from various developers. Buyers get this comparison from agents and choose a better option. It turns out that the agency helps clients to buy housing cheaper and developers – to bring interested buyers. In this case, the developer pays the commission to the realtor. For the client, the services of a realtor are free.
Design companies.
The same scheme as with the construction team: the agency recommends the services of a designer at a discount and receives a commission from the designers for each client brought.
Choose the right advertising channels
Choose the right advertising channels to promote offices, apartments, houses for sale, or plots. To choose the most effective ones, you first need to determine the characteristics of the object:
- type of property (residential, commercial, or other plots for sale),
- segment (economy class, business class, elite, luxury, etc.),
- location (the place where the object is located)
Billboards and advertising on transport
Billboards and advertising on transport are suitable for promoting luxury properties or significant developments – for example, new housing complexes. They are located not far from the objects themselves or near potential clients’ work/recreation areas; otherwise, they will not see it, and you will waste your money.
Advertising in newspaper
For economy class apartments, advertising in city newspapers, bus stops, and near entrances is more effective. If the object is bought, then post ads in the area where you want to buy it. If you are selling, try to cover as many places as possible because people living in the center can look for housing in a residential area and vice versa.
Online Marketing
Online marketing is suitable for any property. According to statistics for 2020, contextual advertising, social networks, and aggregate sites work most effectively.
According to our experts, bulletin boards are well suited for advertising economy class properties. From social networks, Instagram and Facebook work best. When placing an ad on the boards, do everything so that the client comes to you. For example, put a video instead of photos.
