Construction is an industry that never stops. There is always something to do in it, so there are always homes that are for construction, buildings that are for design and construction, but also many facilities that are for renovation.
The fact that this industry does not stop opens many opportunities for real estate agencies and agents who constantly and tirelessly work to meet all the needs and desires that exist in the real estate market that is driven by the needs of consumers.
The real estate market in Australia is growing at an impressive rate, mainly because of a supply shortage. Covid 19 significantly interfered with the construction industry so much that supply could not keep up with the demand for property.
More so, buyers are interested in moving to the bigger cities as lockdowns are easing up, and they can enjoy living in a metropolis. If you own a real estate agency, here are tips for scaling your business amidst a global pandemic:
Know Your Target Market
No matter what industry it is or what branch of the business world it is, one thing is clear, and that is that when entering a market you must know which part of the market to operate in, which segment to represent and which are the target groups to which the offer should be directed.
This rule, as we said, applies to every part of the business, and it also applies to agencies and real estate agents. The market is hot right now, but you must also narrow down the customer segment to know who is interested in buying. Are they young families settling down? Are millennials relocating after quitting their jobs?
Observing industry trends is key to understanding your market. The great resignation is upon us, and as more people leave their jobs, they will be seeking more favorable alternatives, including remote working opportunities. Such buyers will be keen to get spacious properties where they can set up an office.
Take Real Estate Course
When there is a desire to work, there is a way to be part of a job or how to get a job. This is a rule that should be known and respected by every person who wants to work in a specific profession. This also applies to all those who want to work with renting homes or business premises, ie who want to work as real estate agents or want to work in such an agency.
If they have such a desire, they must follow a certain path that is followed by steps that require a certain experience, but also a certain certification from a training or academy for this position. No matter how much experience you have in real estate, it doesn’t hurt to increase your knowledge.
Take a short real estate course at training.com.au to earn more credentials to boost your professional profile. Clients are drawn to agents who possess excellent skills in the real estate market, which is volatile in these unprecedented times.
Start Making Calls
Making a call is a key thing, whether it is a private situation or a business. This is especially important when it comes to the real estate sector. Contacting anyone you know in the real estate market is key to scaling your business.
You could be planning to open a new office in a different capital city to serve clients in that area. Making important calls to past and prospective clients will help spread the word about your new offices.
Soon enough, buyers will know about your agency directly from you or through referrals from people in the industry – including the competition.
Consistency in Marketing
Although this industry does not act on something that should not be too promoted and advertised, there is still a need for such a thing and of course, we must work on marketing to be at a satisfactory level. Social media platforms are great marketing tools, especially for real estate, as you can share your property listings.
You need to have a consistent brand offering and market it rigorously without fail. Some agents fail to harness social media’s immense potential, which can put off would-be followers whom you can convert into buyers.
Reexamine your marketing pitch and edit to suit the current market. Hold meetings with prospective buyers at least twice a week and show them your listed properties. Consistent marketing efforts will surely earn you the confidence of old and new buyers.
Time Management Skills
As you endeavor to scale your real estate business, you will find that your workload increases exponentially, and you may start to feel overwhelmed. Time management is vital in ensuring that you complete all essential tasks within the stipulated time, so you don’t spend too much time in the office.
Identify your distractions: taking clients’ calls, open house sessions, emails, social media, etc. Allocate ample time for essential and urgent activities. You can check off your to-do list by utilizing time management tools like Scoro, ActiveCollab, Clarizen, and so forth.
Sometimes you can not do things yourself. The days often know how to be hard and impose on us many tasks that can not be completed, and yet we will have to find a way to complete them. Traveling between two or more offices in different cities is time-consuming, and you may find it challenging to keep up with work.
Hiring assistants to help you with mundane tasks like sending marketing copy to clients, preparing brochures, answering phone calls, etc. Interns are affordable, and you can use this opportunity to mentor them to become your future sales agents.
Expanding to new territories calls for meticulous research and planning, so you identify the most prime locations for expansion. You will need to boost your real estate knowledge through formal training and hiring to help keep things running seamlessly.
This is a part of the business world that requires a lot of time, knowledge and skills that are important to your success. If you are persistent, work hard you will succeed, and we believe in you and we are sure that you will be a great real estate agent who will be part of such a wonderful agency that will break all records of success.