The real estate market is rapidly becoming a densely populated field and a fiercely competitive one for that matter.
There will be plenty of competing pressures across your property market and within your territory – other agents chasing your business and your clients; your clients will likely be influenced by the confusing pressures of the market and the economy.
Facing this growing competition and reduced customer demand, brokers and agents need a huge investment in technology and selling strategies that do two main things for prospects – improve speed and convenience.
There are plenty of ways to get ahead of the game – you just have to be creative and forward-thinking.
Here are a few useful hints to help give your real estate business a competitive advantage and come out on top.
1. Set up a dynamic website for your real estate agency
In this day and age, you are almost certainly losing business if you do not have a company website.
However, simply having a website is not necessarily enough to win your new prospects. To be truly effective, ensure you have a dynamic website that captivates the attention of web visitors within the first few minutes of landing on your page.
Additionally, it must be easy to comprehend and navigate – you want it to easily convey your message and effectively answer any questions or concerns your prospective clients may have.
2. Accelerate research and visits
With more and more properties in today’s market, many potential buyers lack the time to tour buildings in person. A property visit can take a long time to schedule, and more often than not, does not provide enough information for the buyer to make a confident same-day decision.
You can easily solve these time-consuming hurdles in the buyer journey with a few user-friendly, readily available technology tools designed to inform and engage prospects over convenient digital channels.
3D photos and virtual tours, for instance, offer a real-time view of the property before the buyer schedules a visit thus saving you time and doing the job of multiple gents at once.
Eventually, when they do come for a visit, they have more knowledge of the property and better prepared to make a confident decision.
3. Your marketing should never stop
Generally, each organization has at least that one thing that makes them stand out amongst the competition. Do not expect your prospects to automatically know what that is – show them and tell them!
Point out the unique, value-added services you provide and highlight what it is that makes your organization different from all the others. Perhaps it is a more comprehensive start-to-finish service, or that you employ cutting edge software that allows you to provide highly detailed reports on demand.
While factors like reputation and location translate into advantages, so does technology. Agents who employ modern technologies that can save time for prospects, create conveniences in the buying process, and offer a greater level of information about a property will stand out and win more listings.
4. Leverage your property’s visual media
Chances are that you work with a lot of incredibly beautiful properties. Why not showcase some of your best features by sharing them through rich visual media?
Post lots of high-resolution photos and videos on your website, blog, and across all your active social media channels. Go a step ahead and make customized videos in which you discuss some of your services to draw prospects in and show them why you are the property management company they should choose to work with.
5. Provide value
One of the best ways to win new clients and retain existing ones is by continually learning what their needs and wants are and then addressing them.
Understand their questions or concerns and provide them with ample resources to meet those needs. This can be done through a comprehensive FAQ on your website, helpful articles on your company blog, engagement through social media channels like Facebook and Twitter and video tutorials.
The more value and benefit you provide to your clients and prospects, the more loyal they will be to your business.
6. Offer superior service
Gain that competitive edge by employing tools within your organization that will help keep you and your team organized and on top of things – which is critical in the fast-paced real estate industry.
Tools like property management software will help you streamline business processes, improve internal and external communication and ultimately increase your clients’ satisfaction levels.
Your clients will see that you can meet all of their needs in a timely, professional and organized manner, thus setting you apart from others in the market.
To be clear, winning in this market involves attention to detail, proper guidance and quick action. That does not mean your prices. Your company needs to have some special angle – some compelling value proposition – to stand out and prove to prospective investors that your solution is the right one. That is where your competitive edge comes in.