We’ve all heard that real estate is one of the most profitable industries to be in. However, selling properties is more complicated than it sounds, especially in places where the competition is tough. In 2023, CNBC termed Florida the strongest housing market in the US. More and more people are flocking to the state, and house prices are soaring. However, this also means everyone is trying to get in on the real estate action and make a buck.
Whether you’re a seasoned realtor or just stepping into the industry, distinguishing yourself from the competition and mastering the art of selling is crucial for a flourishing real estate business. So read on as we explore four strategies to get your real estate business thriving.
Build Relationships
Real estate isn’t just about properties; it’s about people. You need to form good relationships with vendors related to your business to gain a competitive advantage. For instance, we discussed how Florida is the most flourishing housing market. Still, Fort Lauderdale, situated on the southeastern coast of Florida, has an uncompetitive housing market compared to other cities in the state. Redfin gave it a low score of 25 out of 100. In such a scenario, partnering with local businesses like experienced Fort Lauderdale movers can provide you with a distinctive advantage over other realtors in the area.
By helping your customers through the most challenging part of getting a new home – the move – you offer your clients more than just a property; you offer them a one-stop solution for the entire relocation process.
Similarly, you should establish connections with local lenders and attorneys. These professionals play vital roles in real estate transactions. You also need to cultivate genuine relationships with your clients. Listen to their concerns, understand their requirements, and offer personalized solutions. A trusting client-realtor relationship often leads to referrals and repeat business.
Perfect Your Pitch
Selling is the art of asking the right questions to secure those minor agreements, which ultimately pave the way for the major decision. To perfect your pitch, you need to delve deep into the psyche of your buyers, uncovering their needs, preferences, pain points, and fears.
Ask leading questions, gently guiding your clients toward envisioning their ideal home before they even realize it. For instance, if you’re helping someone move to sunny Florida, slyly drop a line like, “You’re moving to Florida, huh? You must definitely want a kitchen with large windows to let the sun shine through, right?” The response is usually a resounding, “Yes, definitely.”
But here’s where you perfect your pitch – you don’t just stop at their affirmation. You go one step beyond: “Well, I’ll do you one better. The kitchen in this house has a whole sliding door wall!” And just like that, you set off dopamine fireworks in their brain. You create an emotional connection between them and the property, making it harder for them to say no.
However, a successful pitch goes beyond merely highlighting features; it’s about painting a vivid, technicolor picture. Learn the art of storytelling. Instead of stating the presence of a sliding door, you can weave a narrative: “You have two little kids, which makes this the perfect house for you. The kitchen has a sliding door that opens right into the backyard. Imagine cooking a delicious steak while keeping an eye on your children playing outside. It’s not just a door; it’s a gateway to family moments and ease of living.”
Use Online Tools
In today’s digital age, the internet is your best friend. Online platforms and social media can significantly enhance your reach and impact.
You can make your own website to showcase your listings. But you’ve got to make it look good. First impressions matter. Fifty milliseconds – that’s how long it’ll take users to decide whether to stay on your website or leave.
Considering they’re probably making the most expensive decision of their life, your website should reflect the seriousness and professionalism of this transaction. Make it sleek. Make it user-friendly. Invest in some killer UI/UX design. Use high-quality images. Add engaging descriptions that highlight every nook and cranny of the property.
Alternatively, you can use real estate apps to boost your visibility. Zillow, for instance, stands out as one of the best real estate platforms. With over 30 million monthly visitors, it offers a vast audience for your listings. One of its unique features is the Zillow 3D Home app, where you can create virtual tours of your properties. These immersive experiences give potential buyers a lifelike walkthrough, enhancing their engagement and interest.
Beyond traditional real estate platforms, you can try eBay. Yes, people sell properties there, too, and it opens you up to a client base that not many realtors are targeting. Or you can try social media apps to market your properties. Facebook is great for real estate marketing. Join real estate groups, flaunt your listings, and chat with potential buyers directly.
Learn How to Stage
Staging is undeniably one of the most critical aspects of the real estate business. It’s the art of transforming a property into an inviting, comfortable space that feels like a home. Striking the right balance is crucial – it shouldn’t resemble a soulless hotel room. Yet, it should maintain a generic enough charm to resonate with as many individuals as possible.
The first and foremost step in staging is decluttering. Get rid of any excess furniture. Ensure tabletops are clear and every room has ample space for movement. A clever trick is to arrange furniture away from the walls, creating conversational layouts that give the illusion of a more expansive and luxurious space.
Attention to detail is paramount. Every item in the house should be meticulously placed to enhance visual appeal. If something doesn’t contribute to the overall ambiance, it’s better to remove it. If a room feels too bare, try hanging abstract art. Well-placed paintings that complement the furniture can completely transform a room.
Incorporating fresh flowers is another subtle yet impactful touch. Not only do they add a pop of color, but they also infuse the home with a pleasant aroma, making it more inviting.
Conclusion
The real estate business is undoubtedly a competitive one where every home and client matters. However, once you’re able to build a good rapport with clients and partnership with companies who can help your clients, the sky is the limit to how successful you can be here. By embracing these strategies, you’ll be able to close more deals and build a flourishing real estate business that stands out from the competition. So, go ahead, put these strategies into action, and sell it well!