Real estate companies operate in a very competitive marketplace. To build business and increase revenue, they must take a positive attitude to marketing. Companies are embracing newer techniques, such as property video or social media to differentiate themselves, but they must continue to focus on building relationships of trust with buyers, sellers and business partners.
Create a Clear Market Position
Real estate companies can operate across the property spectrum, dealing with general residential and commercial clients, or they can offer a specialist service in niche markets. Companies may specialize in period properties, luxury homes, offices or agricultural properties, for example. By positioning themselves clearly in the market, companies can attract clients who are looking for a specific type of property. They can also fine-tune their marketing to focus on the right media and messages for their target market.
Build a Strong Property List
Property buyers and sellers are looking for real estate companies active in the market and with a good track record of successful transactions. Building a strong property list is essential. A good list offers buyers choice and helps to build trust in the company. By offering potential sellers the benefits of marketing campaigns, effective presentations through property videos and brochures, and high levels of personal service, real estate companies can persuade owners to place their properties on their lists.
Real estate companies must encourage prospective buyers to make their firm the first point of contact when they are looking for a property. By placing advertisements in local newspapers or specialist property publications, companies can attract potential buyers. Maintaining contact by phone or email with buyers helps to build relationships and increases the opportunity for a sale.
Build Professional Referrals
In addition to building a client base through their own marketing activities, real estate companies can win business by encouraging referrals from other professionals involved in the property business, such as mortgage companies, surveyors, banks and law firms. A mutually beneficial relationship is essential. Real estate companies can refer their clients to firms providing mortgage finance, conveyancing or professional property services. A referral program can make it easier to establish relationships with new prospects, because they trust the opinion of the referrer.
Develop All-Inclusive Services
Buying or selling property represents a major inconvenience for residential and business clients. Real estate companies can differentiate themselves by developing a portfolio of services that minimize inconvenience for clients. As well as providing the basic valuation, sales and marketing services, they can recommend other professionals, such as law firms and surveyors, arrange mortgages through third-party providers and source other essential services, such as storage or removal firms. Clients benefit from a single point of contact, saving time and reducing inconvenience