The real estate market is highly competitive with real estate agencies selling homes and apartments left, right and centre. Contributing to the volatility of the market is that individuals can act as real estate agents without having to belong to large companies acting as independent sellers. The majority of buyers are used to dealing with agents affiliated to larger agencies, but in this growing technological era we can see buyers dealing with private sellers more and more.
As a large real estate business, this may be disconcerting. If private selling becomes more popular the need for large agencies may remit. One way to maintain a reputation and ensure clients is through promotion and keeping your name on buyers tongues. Ensuring ‘presence’, which shows a strong relationship with sellers, makes your agency more trusted and open to more business. Here are a few times to help you sell the properties you have on your books and cultivate your presence.
Firstly, suggest a joint open house with other agencies or private sellers. If clients see you are trying to work with different sellers it creates a sense of harmony and support instead of blatant competition. This is the type of real estate agent buyers and sellers want to work with. Furthermore, a combined open house draws more potential clients than an independent open house. If all interactions are well-received, it makes for a good reflection on you and your team.
Secondly, promote the neighbourhood and not just the property. In the past one may have made a sale by promoting the home solely; however, in society today buyers are interested in the reputation of the area as well as the property. By showing knowledge of the area you are showing your presence in the area and individuals are more likely to trust your opinions and judgements. This may lead to potential clients and a possibility they may inform their friends of your professionalism — more clients.
An important factor which buyers review is the selling price of the house. Nowadays, sellers do not enter a purchase blindly, they do their research extensively to ensure they are not paying more than they should be. To prove to the potential buyer that you are the best agency to work with, and are not one to exploit individuals, pricing the house according to market value is imperative. Do your own research and ensure the house is not outside of the neighbourhoods range at that moment — the buyer will know.
This may be a difficult task, but congratulate rival agents when they make a sale. Real estate is a competitive industry and to make a profitable sale is an accomplishment which deserves compliments. If you present with a good-natured attitude, other agencies will identify you as a positive agent and company with which to work. Furthermore, this congeniality will show clients you will not ‘turn nasty’ if the situation becomes disadvantageous.
In conclusion, real estate is a difficult market and maintaining a good reputation in the industry is difficult. However, if you follow these tips and do some more research you should come out on top.