Sales are the cornerstone of a firm’s profitability and favorable public perception.
Since the world’s economy is going through a period of increased inflation and interest rates, investing in the competitive real estate market is more unnerving than ever.
As a result, real estate companies are adopting distinct strategies to increase their sales.
Sales are crucial to expanding and improving a business, filling the gap between potential customers’ demands and the company’s goods and services.
A successful sales team accelerates business growth by employing various sales techniques to cultivate client loyalty and trust. However, property sales are typically not that simple.
The growing competition is hampering sales in the real estate market, and its variations are influenced by changing buying patterns, technological advancements, and economic fluctuations.
Therefore, real estate agents need a unique marketing plan to accelerate real estate sales and support their company’s growth.
It will help the business thrive and generate revenue, contributing to its progress.
Graana.com, in collaboration with the Iqbal Institute of Policy Studies, explores ways to increase sales in the real estate sector.
Ways to Increase Real Estate Sales
Ensure the company salespersons are organized and ready before meeting with potential buyers.
They must know when to say what and how to respond to typical objections.
Additionally, they should have prepared answers to all customer inquiries regarding the company’s real estate products or services. Successful gatherings will undoubtedly lead to the next stage of the sales cycle.
Targeting the Right Customers
Having many people inquire about a property is a good thing. However, if they do not purchase or lease, it wastes the company’s valuable time and energy.
That is why, before promoting a property, it is critical to identify and understand the company’s ideal prospects.
Make sure that marketing efforts are always directed at the appropriate audience.
Moreover, make targeted leads as precise as possible. This is essential for preventing unqualified leads by defining their demographics such as age, profession, interests, etc.
After gathering all the prospects’ information, sort through it using a dependable real estate CRM system to make filtering easier.
This software will assist in maintaining all prospect details, identifying qualified prospects, assigning them to the appropriate property agents, updating prospect status, determining next actions, automatically sending information, and much more.
Attracting the right audience is getting complex as more and more real estate connections move online.
A property website optimized for SEO is now more vital than ever for real estate agents or agencies looking to increase conversions and attract the right clients.
SEO can help optimize the company’s online content to draw visitors from organic search results by showing up on the front page of a search engine like Google.
Developing a strong focus on content creation that incorporates keywords and links for terms that the target audience is looking for ensures the ranking of the real estate website.
This, however, is not always sufficient in the fiercely competitive world of real estate marketing.
Therefore, ensure that the website meets several criteria besides keywords to rank highly on Google.
The search engine also prefers websites that offer a pleasant browsing experience and are streamlined for mobile, which will attract prospective clients and drive sales.
Watch Out for the Competition
Becoming overly satisfied and at ease with the company’s accomplishments would not take the company too far. At any time, rivals might outcompete the company. Therefore, paying attention to what they are doing is imperative.
Find out what marketing tactics the rivals employ, how they handle promotions, where they source their customers, and any other vital details that could enable the company to surpass their success.
Direct communication with competitors is one of the best ways to learn about them.
This can be accomplished by contacting them by phone, email, WhatsApp chat, or by participating in one of their webinars.
Promotion through Social Media Content
Improving the content on real estate websites is not enough. Try consistently posting educational content to well-known social media platforms like Facebook, Instagram, and Tiktok.
Ensure the company’s real estate products and services can be easily spotted on social media because people are more likely to search for properties online.
Post crisp, high-quality pictures and videos of the property, and give each post a compelling caption.
To increase sales, the company can also use paid advertisements.
Consider hiring a real estate marketing company to assist in promoting real estate products to the appropriate audience to relieve some of this responsibility.
Letting the company’s prospective clients speak is one of the best strategies for advertising a real estate company.
One of the most effective strategies for persuading clients that the company is suitable and best to handle their property is social proof.
Real estate testimonials from previously satisfied clients effectively show new or potential clients how the company has aided others in the past and reinforces credibility and trustworthiness.
The company could opt for a testimonials page on the property website or film their clients’ video testimonials.
This is particularly beneficial since people specifically search out videos of customer testimonials when choosing a real estate agent.
Real estate email marketing is one of the most effective methods for fostering long-lasting relationships with potential customers or tenants.
Gather email addresses from the company’s website, online ads, and previous events.
Moreover, send newsletter subscribers the information they want, such as alerts about impending project launches, new properties, online webinars, advice on selecting properties, and more.
The company can categorize its newsletter subscribers based on location if they offer properties in various regions.
This will guarantee that they only receive localized updates from the company.
It won’t be easy to implement for a company to send emails to many customers manually.
Therefore, the best choice to improve client relationships is to find a reputable real estate marketing firm that can assist in designing, setting up, and automating email campaigns.
By setting up email campaigns, agents and agencies can perform SMS marketing, send marketing emails to multiple receivers automatically, and create personalized email templates that suit their needs.
Most prospective home buyers look for video content while searching for a home. More people than ever are searching for homes online.
In a time when travel is still somewhat constrained, and people are hesitant to visit homes, video walkthroughs or virtual tours aid in making important purchasing decisions.
A home’s realistic representation can be better understood with 360 video tours, giving prospective buyers a sense of the home’s layout and spacing that still photos can’t always convey.
Online Listing of Property
To expose the company’s products, services, and properties to as many prospective buyers as possible, list them on online marketplaces.
Additionally, many real estate websites offer free profiles for agents working in the neighborhood housing market.
Agents can assert their profile and fill in their contact information, name, brokerage, specialty, and covered markets.
A strong online presence will encourage buyers and sellers to contact prominent real estate companies to buy or sell a home.
Sales are pivotal to the growth and enhancement of a real estate business. However, the number of real estate companies is growing, and so is the competition.
Also, economic fluctuations and rapidly changing trends all impact various companies’ sales.
Therefore, real estate companies must adopt smart strategies to boost their sales and stand out in the competitive market.
This will not only expand the company but also generate leads and revenue.
This article is written by Haneen Gul. Haneen Gul is a Research Analyst at the Iqbal Institute of Policy Studies (IIPS).