7 Actions Real Estate Agents Can Take to Grow Their Business
As a real estate agent, it can be tough to grow your business and make more money. There are so many agents out there competing for the same listings that it’s hard to stand out from the crowd.
You want to do everything that you can to show your clients the best home for them. You also want to take steps that will help grow your business to be sustainable in the long-term future. You can use a variety of strategies to grow your business. It’s essential to take the time to identify which are the most suitable and implement these actions.
We’ve listed seven powerful actions that can help every real estate agent to grow their business!
Get real estate agent insurance
Realtor business insurance is an essential part of being a successful agent. There are many dangers that agents face, such as lawsuits or injury from property damage. Insurance can protect you from many things, so it’s definitely worth the investment.
The two most common types of real estate insurance policies are errors and omissions coverage, which protects you against mistakes in paperwork or negotiations, and general liability insurance that protects your clients and you if someone gets hurt on the property or if you damage their property.
Join professional organizations
Joining a professional organization will give you access to resources, information, and training that can help you grow as an agent. This is also one of the best ways for agents in new markets to network with established professionals who have more experience than they do.
Professional organizations, such as the National Association of REALTORS® and The Institute for Luxury Home Marketing and Women in Real Estate, help connect agents with other professionals who can help them establish their business. They also offer training and resources to assist agents in areas such as real estate marketing, technology, negotiation skills, and more.
Invest time into social media platforms
Agents should invest some of their own time into all the different social media platforms available today. Social media has become a huge avenue for people to find homes and businesses. If agents don’t have a presence on these platforms, they can miss out on opportunities that their competition is capturing.
Agents, who only market themselves in the traditional ways, are missing out on connecting with customers in new digital marketing channels such as YouTube, Instagram, or even Facebook Live. Agents should also have a Facebook business page and invest in advertising there.
Marketing on social media doesn’t necessarily need to be an expense either. Agencies should work with their clients to do some of these marketing tasks for them in exchange for a small fee.
Attend networking events and trade shows
Networking events and trade shows can help agents meet new people and connect with potential clients. Agents should attend trade shows to get the chance to talk in person about their services and promote themselves through a company booth.
Agents can also ask other companies at the event for help getting business referrals if they have complementary skills or offerings that might be of interest to other businesses. Apart from this, these events can be a great way to find potential clients by talking with them about their needs in the market and seeing if an agent can help.
Another thing agents should do is go up to every person they see at the event, introduce themselves, shake their hands, explain to them what they do, and ask if they have any need for real estate services.
Offer buyer’s agent services
Buyer’s agent services are a great service to offer to clients. Buyer’s agents work solely with the client looking for a home and are not obligated to sell any property they show them.
They can give expert advice about where in the area would be best suited for the buyer based on their needs, whether there are schools or jobs nearby. The agent is able to see all the homes in the area that match what they’re looking for and will be able to negotiate on their behalf.
Buyer’s agents also do not work with sellers, meaning they are free from any conflicts of interest when it comes to selling a home. Offering buyer’s services can boost your business by offering more to your clients.
Use videos to showcase your property
Video marketing is an excellent way to showcase your property. The quickest way is by taking a video of yourself walking through the home for sale or filming a montage of photos that show off all angles in the room, from floor to ceiling.
These are extremely helpful because they help people see from their perspective what the home looks like. People like to see that you are professional and knowledgeable when it comes to real estate. And they can also learn from your experience during the walkthrough or montage of photos about things they might not know, such as how a room should be laid out, what features are unique, and more.
When you’re ready to take videos for virtual tours, you’ll need to invest in filming equipment. You can use your phone or a digital camera with a video function. The key is to record high-quality footage and take great photos without distortion so that people can get an accurate picture of what they’re getting before making any commitments.
Offer to do a free consultation for potential clients
A free consultation is an excellent idea when you’re trying to connect with buyers and sellers. This is a great way to show them how knowledgeable you are about the market, explain your process for marketing their home or looking for one they’ll love, and provide insight on what it’s like working with an agent from your company.
Additionally, a free consultation can help your business stand out from the competition because it will give you a chance to establish yourself as an expert in the industry, something buyers and sellers look for when selecting their agents.
Finally, this is one way prospective clients can see just how different your company is from everyone else: by taking advantage of free consultations, you’ll be providing them with a valuable service that other agents might not offer.
It can be hard to figure out what’s required to succeed in today’s real estate market. However, implementing the actions laid out in this article will encourage your success.
By focusing on the right areas, you can grow your business and avoid the pitfalls that keep others from achieving success. The key is to make sure you’re doing things that will help your business grow, not just what’s required.