Yes, Brokers and Agents continue to feel the impact from today’s real estate market; however, a number of them have found new ways to make their business profitable.
In today’s climate, brokers are making money by doing a number of different things to control costs, increase clients and increase sales.
Our research found that brokers have implemented five key elements to make their business successful.
5 Keys for Today’s Realty Business
1. Marketing Online. Website, social media and updated content is a requirement. However, successful brokers respond quickly to internet inquiries and keep in contact with clients and leads using short informative newsletters.
2. Community Marketing. From online to off-line. In the off line marketing, connect with your community by being a guest speaker at different community events. Pick a couple of topic that raises your passion, then call the organizer and get involved.
3. Virtual Activities. Need something done without the big price tag, tap into a pool of people online that are very good at what they do, then get them to handle that type of project for you. Brokers use online resources for data management, office functions, and lead qualifying.
4. List Cleaning. Clean up your email and mailing lists. For email have a system that automatically remove bounced and rejected emails. For your mailing list remove previous returned mailings; remove partial or incomplete addresses; and remove areas that are no longer in your target market.
5. Web Solutions. Shift away from creating rooms full of computers, servers and tech support costs. Even major corporations are adapting to web base software to run key business functions. Online software applications are a fraction of the cost of computers, networks, routers and support.
Brokers who are succeeding in today’s real estate market have made adjustments to handling both online and off-line activities to maximize leads, clients and closings.