The Future of Real Estate: How to Grow Your Business in a Changing Market
Real estate has changed in recent years. It’s easier than ever to grow your business with the vast amount of resources available at your fingertips, but it can be challenging to figure out where to start.
So, here are five tips on how you can take advantage of 21st-century technology to grow your real estate business in the digital age:
1. Stay up-to-date on industry trends
You can’t stay ahead of your competitors if you’re not up-to-date on the latest trends in real estate. That’s why it’s crucial to read articles and blogs written by experts in the industry. Keep an eye out for any news about upcoming changes to regulations, products, and services offered within your market.
Another way to know all the current happenings is to follow influencers or other professionals on social media so you can stay up-to-date on their insights and advice. Of course, this can quickly become a time-suck, so make sure to prioritize the platforms and influencers that provide the most value.
In addition, you should read the latest industry publications. Subscribe to a few newsletters and consider joining your local real estate board’s publications committee so you can stay on top of any news relevant to your market.
2. Use online tools to research properties
It’s never been easier to find information about listings, valuation reports, and market trends. For this, you can use online tools like Zillow, Trulia, and Realtor.com to research properties, even if you are not the listing agent. Using such devices to see what’s currently on the market allows you to better grasp what to offer your buyers.
You could also use modern solutions, such as buy-and-sell property apps, to widen your search. These platforms typically provide you with local data to be confident your offers are accurate and on point.
And because you’re using technology to look further into your market, you might discover new neighborhoods or properties that you hadn’t even considered before. So, don’t hesitate to explore as much as you can with these types of tools.
3. Connect with potential buyers online
Not only can you research properties on the market using online tools and social media, but you can also use these platforms to be more active in getting your name out there and in attracting potential buyers.
For example, you can use Facebook to create a business page to share articles related to real estate and engage with potential clients. You could also use Twitter to share your expertise and answer questions from any users who tweet at you.
The possibilities of connecting with new people online are endless. So, if you’re not already active on social media, now is the time to jump in! Besides, it’s a lot more fun than cold-calling potential clients, and you might even discover a new favourite hobby.
4. Use social selling to expand your marketing reach
A great way to attract more clients is by social selling, which can be a particularly effective tactic for real estate professionals. It’s all about being more engaging and personal with your marketing efforts. So, rather than just liking or sharing a post on Facebook, try responding with a comment.
You could even ask a question to get people talking about the topic. The point is to share more than just your listings because plenty of agents already do that. Use social selling as an opportunity to be more personable with current and potential clients.
Furthermore, try using LinkedIn to connect with your industry contacts. You can start conversations, reach out for advice, and let people know about any relevant news you come across.
5. Get creative with your marketing strategies
You can attract potential buyers by getting more creative with your marketing strategies. For example, if you’re struggling to sell a home, why not host an open house with a twist, such as having food trucks on the day or giveaways.
While traditional marketing methods are still important, you could also consider using digital marketing strategies, such as promoting your open house on social media, to expand your reach. You could also use guerrilla marketing to get your name out there by using eye-catching ways to advertise.
Another creative tactic is to host flash sales or invite-only events to generate buzz. For example, you could offer a special discount on any new listings for one week or even just one weekend. This will get people talking about your business while also building loyalty with current clients. Just be sure to stick with one tactic at a time, so you don’t dilute your marketing efforts.
Whatever marketing strategies you choose to expand your reach, remember that modern solutions can be used to help you grow your real estate business. If you’re not already taking advantage of these, now is the best time to get started.