It can be hard for smaller real estate companies to compete with the much larger organizations, particularly when first starting out. The much larger real estate companies will have the resources, reputation, and authority to dominate the industry, but that is not to say that a smaller real estate company cannot compete and find success. There are several ways that you can make your real estate company more competitive, and combining a few of these could have a huge impact on the success of your business. Read on for a few ideas for ways in which you can make your company more competitive.
Comprehensive Property Details
The website should be sleek, attractive, and easy to use but also serve a purpose. You need to provide comprehensive information about properties that you currently have available so that people can get an idea of whether or not they should view them. This should include:
Professional photos of every room and the exterior
Detailed descriptions of the property and surrounding area
Floor plans
A video tour
Use Social Media
Leading on from this, it is also important to be active on social media and to use this as a platform to show your expertise. You can do this by creating and sharing content which will be of value to your target customer, such as:
Tips for viewing homes
A first-time buyers guide
How-to guide for maximizing the value of your home
Industry news
Make Customer Service A Priority
One area where a small real estate business could excel over a larger company is through customer service. You need to make this a priority and take the time to get to know your customers and go the extra mile - this can make all the difference and help you to develop a positive reputation. Additionally, you should have a few different ways that people can get in touch, including:
Phone
Email
Social Media
In-person
Get Involved In The Community
It is also helpful to get involved with the local community so that you can establish your name while also showing that you are a business that cares. This might involve attending local events, hosting your own events, sponsoring a charity or offering work experience for students.
Nurture Leads
In this industry, you always have to nurture leads as it can be a long and ongoing process to convert leads. Make sure that you follow up leads and take the time to find out what each person is looking for so that you can convert and show that they are your priority.
Find Talented Agents
Following this, you also need to have a team of talented real estate agents if you are to succeed. This can be a challenge when you are unlikely to be able to match the salary that they could command at a larger estate agents, but there are a few ways that you can attract talent:
Flexible and remote working
Nice office environment
Relaxed atmosphere
Perks
Career development opportunities
Additionally, do not shy away from inexperienced real estate agents if they have potential as they can quickly learn and develop their skills, particularly if you have a few more experienced agents that can show them the ropes.
Keep Costs Down
As a small business, you will want to do all that you can to keep costs down so that you can improve your bottom line. One of the best ways to do this is to switch your electricity provider because this can be a major cost with the price of electricity rising. Utility Bidder CEO Chris Shaw explains, "80% of businesses overpaying on their bills - Whether you are a high electricity user or a service-based office, electricity expenditure makes up a substantial proportion of your monthly bills." Places like Utility Bidder can compare the best deals and even do all of the paperwork for you so that the switch is made quick and easy.
Ask For Feedback
One of the best ways to make improvements to your real estate business is simply to ask for feedback from those that use your services. It can sometimes be hard to accept constructive criticism, but this is a great way to learn, plus it is also helpful for your reputation because it shows that you value the opinion of customers and are willing to take steps to change.
Hopefully, this post will help you to be more competitive in the real estate industry and compete with the much larger companies. It is challenging as a small real estate agent because you will not have the resources or reputation to dominate, but there are ways in which you can compete at a higher level and find greater success.
