Real estate is definitely one of those industries with high competition and works off of a cyclical market. When this happens, agents, sellers, and buyers all have to research and find out ways to sell their products. There are so many ways of using several different outlets and keeping up with the tough competition that is this industry. We present to you; ten things competitors can teach you about the real estate market.
Don’t be afraid to become a friend to your competitors
There is nothing worse than competitors who aim to destroy another business. Being helpful to each other and working off the industry in a way that everyone coexists is the best way to run businesses and keep everything thriving.
Social media is no joke these days. With platforms like Twitter and Facebook, there are so many outlets for people to connect with each other. This also means it’s the potential groundwork for real estate agents to support each other in business ventures. Many businesses use these kinds of platforms to support each other and boost their online presence which is key these days. Real estate can certainly be used in the same way.
Resources are important
With social media literally being everywhere, agents can use this to their advantage. Think of a new idea or a new blog post that has never been posted before. Would it attract new clientele? It’s like an author marketing their book online. How will they promote their brand in a way that’s fresher and newer? Interacting with people online is also key to success. Many businesses, especially on Twitter, respond to their clients and any questions. With agents, Trulia has a question and answer section for a realtor page, like with Kimberly Kelly of Kimberly Kelly Realty. Don’t be afraid to answer questions on Trulia. It’s important to make your online presence in the real estate industry known.
Having a strategy is key
Having a strategy laid out for your business structure is the key to success. All of the competitors in other businesses are doing just that and it is the reason why so many of them are doing so well. Go over your financial goals, your goals for clientele, and how it will help shape your business the way it needs to be shaped. Strategies have always worked for every business model and a business without a solid, foolproof plan is doomed to fail. Remember that.
Provide the best customer service online and offline
This is probably one of the most important things here. So, imagine if a business treated people badly online. How would this look for their brand as a whole? We think that would be very detrimental. So, imagine if this same business also treated people badly in their brick-and-mortar stores. It would be even worse for their image. People would not want to buy from this business. Make sure that your online presence lines up with your offline too. Always be courteous and kind online, even if you’re rolling your eyes at yet another silly question from a client.