Real estate hacks: Getting from ‘no’ to ‘yes’ with good communication
The real estate industry is a people business. Regardless of whether you help clients find a new home, better office space, a bigger production area, or valuable investment property—success relies on your ability to build and nurture good relationships.
For many, working with real estate professionals breeds a lot of frustration, and the most common pitfall is a breakdown in communication. To convert leads from prospect to client—and leave them satisfied—you have to be smarter about your communications.
Keep efforts focused and targeted
A name list of a thousand is not worth the paper it’s printed on if it’s not made up of high quality leads. Make it a habit to pare down and regularly scrub your database for prospects that have a higher chance for conversion. There’s no better way to do this than by collecting and layering as much data as you can.
Your communications should be both smart and strategic. Amplify your efforts by keeping it focused and targeted to your ideal market. Find ways to adapt prospecting techniques like cold-calling to the times. Something as simple as using your inbound call data to gain better insight for improving your outbound calling strategies is easy for anyone to do.
On its own, it may be hard for you to envision how to use your available data. But with tool integration, you can overlap call analytics with your CRM tools to give you a clearer picture of who your leads are and how to connect with them more effectively.
Champion collaboration over competition
When opportunities are hard to find, you need to go and create them. Business is constantly changing and so are your customers. They’re not just looking for one thing—they can be searching for properties that are mixed-use or multi-tenanted. While it’s always a good idea to broaden your expertise, collaborating in and outside your business will result in better returns.
Encourage staff to work together and at the same time, build strategic partnerships outside your business. Specialists in each niche should be able to share their knowledge freely for your business to reap the benefits and provide clients with better options. Centralising your communications and business tools through unified comms facilitates information-sharing, giving your business a boost in productivity. With the nature of your business requiring more time to be spent outside of the office, a streamlined solution keeps staff connected, accountable, and all communications secure.
Personalise your communications
There’s a multitude of ways to network apart from knocking from door to door. Phone calls, email marketing, social media—these can be customised to help potential leads along the customer journey. You can have prepared spiels and templates, but it helps to personalise based on each client, community, and your available data.
Today’s ‘No’ often really means ‘Not yet’. First-time buyers would appreciate information about what to expect before, during, and after their property search. Repeat customers are more likely to seek information on available listings that could be added to their investment portfolio.
Reach out and share your real estate expertise to your prospects and clients. You can do this for free through your social media, email marketing, or your website. While repeat sales are harder to come by in this industry, your existing client base is a great source of referrals and warm leads. By being consistent, mobile, and easily available to their needs; you’ll be first in mind the moment they’re ready to say ‘Yes’.