Mohammad Khan Yusufzai is Masters in Management, specializing in Economics, Finance and Marketing, with corporate & lectureship exp.
Advance payment software such as Online Check Writer can help you streamline your processes and focus all your efforts on growing your business.
As of 2022, the market size of real estate sales and brokerage in the US is $202.6bn. But unfortunately, real estate is also a very crowded market. There are approximately 2 million active real estate licensees in the US. This might feel intimidating and overwhelming to grow your business.
But the good news is, if you play smartly, you can ensure the growth and profitability of your business. There are a variety of actions that you should take to grow your real estate business, reach out to new clients and make more sales.
Invest in Good Automation Software
Being a real estate agent is a lot of work. You have to call and email prospective clients, schedule appointments and showings, handle marketing campaigns and a lot more. If you want your business to grow, you have to automate manual processes. Thus, you need to have good and robust software for your business.
Take Online Check Writer for instance. It's is the most popular payment platform for small and medium businesses in the US. It has all the features that a business needs, such as unlimited check printing, ACH payments, Accounts receivable management, Invoicing, Payroll Processing, automatic bill payment, and a lot more. Additionally, you can integrate it with almost all the existing accounting software.
Better Time Management
If at the end of the day you still have a lot of incomplete tasks remaining every day, then it is a sign that you need to organize and plan your time between different tasks. Otherwise, it will be difficult to develop your business.
You should group similar tasks by project or type. Plus create a daily schedule and stick to it. Distractions are something that every business owner suffers from. Identify your distractions and get a plan ready to combat them.
Allot a section of your time every day for developing your business.
Reach Out to More People
In real estate, your reach decides your growth potential. Have a targeted approach to finding valuable people for your business. You can try different strategies to achieve this. Go to networking events and connect with a diverse group of people. This will help you to get a lot more exposure and help you to reach your goal efficiently.
You can also try networking through social media for generating new leads. Social media is a powerful tool nowadays for businesses. Having a proper social media strategy, either social media engagement or through social media marketing. This will surely help you to grow your number of prospective buyers.
You might not want to come off as a pushy salesman. But referrals are very important for real estate agents. Referrals help you to build a strong and reliable network over time. It may even change your game completely.
You must be patient and professional while asking for referrals. This must be a habit that you follow. Ask for good referrals from your family, friends and existing clients multiple times a year.
You can also modernize the referral process:
- Try giving attractive incentives in return for referrals
- Request referrals on your website and social media pages
- Give thoughtful gifts to existing clients
Get Feedback from Your Peers
Always be open to criticism and good advice. Grow your real estate community with good and successful people that you look up to. You can also try and get a few mentors that will guide you towards the right path.
You have to be honest while seeking advice. Don’t expect a step-by-step plan from your colleagues. Rather share your plan or the problems that you are facing.
A lot of people that have previously gone through the same problem or plan would be genuinely interested in helping you.
Email marketing is one of the best ways of getting your message out there. The most obvious advantage is the lower cost compared to the other marketing channels.
It offers a better ROI and also provides the clients to read/go through the contents of email at their own time. This is not the case with cold calling, which, sometimes may lead to annoying people.
Deciding to do the more formal, recurring email will get the job done. Segment your email list and send only targeted emails.
For instance, people who are already engaged with your business need not see the introduction email that you send to prospective clients.
It takes time to grow any business. With few flips and sales in a year, the margin of growth in real estate is thinner as compared to other businesses. Remembering these tips will help you to organically grow your real estate business.
Be consistent and patients with these tips. Find out which works best for your business and optimize them further for even greater results.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2022 Mohammad Khan Yusufzai