Starting a career as a realtor is a lucrative and rewarding business. It becomes pertinent considering the level of unemployment in Nigeria. Selling real estate provides an avenue to earn up to 450k monthly. In addition to financial freedom, you are free from the shackles of a 9-5 job.
Success in real estate is most times determined by the connection you build. Referrals are one of the key pillars of success for real estate agents. Pwan has 10 years of experience working with over 20 thousand realtors ( PBOs) nationwide. Through the years, We have identified building strong relationships as paramount for success in real estate.
In this article, we would be analyzing ways New Realtors can start building relationships with clients. We hope to inspire you to create a meaningful connection with prospects and sell more as a new realtor.
Let’s dive into the strategies in building strong client relationship , the first method to discuss is.
Real estate is a constantly evolving niche. New ideas, technologies, and policies contribute to the current state of the sector.
New real estate agents need to stay informed with the current information in the sector. This helps in delivering accurate information and good customer service to their prospects.
Real estate is a capital-intensive venture. Naturally, prospects would need a lot of information to guide them as they decide on what to buy.
In most cases, prospects still in the research phase would need loads of information and convincing. Wrong or inaccurate information might delay or discourage their buying intent
The ability to provide accurate information will determine the fate of the transaction. As such, realtors would have the responsibility to have updated information. in addition, product knowledge is a huge requirement to avoid misleading a prospect.
The following information should be handy when a client requests them.
Communication IS KEY
One mistake many new realtors make is ”burning the bridge” after every transaction
They consider every deal as a one-off transaction and would cease communication with clients after that.
Some even take it further by ignoring calls and texts from clients after receiving commissions. This is not only bad but it also hurts your chances of referrals in future transactions
Client satisfaction should be the first strategy and it starts with effective communication. Some successful realtors form bonds with clients that exist even outside real estate. These connections and networks can elevate one to higher places beyond just real estate.
Of course, in the quest to establish a communication link, you should not encroach on the time or space of your clients. Connections should grow naturally because when forced, they could be counter-productive.
Studying your client is also very important to understand them. Are they the reserved or chatty kind? do they prefer WhatsApp messages or SMS ?. When are they online the most ?..etc.
Some practical way you could start communication with your clients includes
- SEND BROADCAST ON HOLIDAYS
- Email information of value
Also, you should only engage with your clients when you have something to say. if not, you run a risk of awkward and unproductive conversations.
Honesty is the Best Policy
We have all been there When we felt the need to close a deal by telling a few lies or some unconfirmed information. This hurts your reputation in the long run. Having a bad reputation can ruin any business both real estate and others.
In real estate, honesty will take you a long way because it builds trust. According to zig Ziglar ” If people like you, they will listen to you. But if people trust you, they will do business with you”
Honesty is like an investment in your career as a realtor. it might not have an immediate benefit. However, in the long run, you will have loyal clients who will refer you based on the trust they have in you.
When you are not sure of the information, it’s better to say ” let me reconfirm” than saying ”yes”.
We have all heard the saying ”little things matter”
Realtors often overlook clients’ appreciation as part of their strategy. Appreciation shows you are thankful and value the relationship you are building. Gifting is a form of intimacy and in the business world, it fosters relationships. It paves way for new businesses and increases client retention.
You can gift your client on birthdays, holidays, or their special celebration like childbirth, etc.
Some get stuck in deciding what to gift clients, especially the high network kind. However, like the popular saying ” It isn’t the size of the gift that matters, but the size of the heart that gives it.”
Understand your client’s taste and get them something meaningful that is within budget.
Gifting keeps you top of mind should they need you in the future.
Listening can be one of the hardest things to do. It involves truly understanding what they need even when they do not know it yet. It involves asking the right question and getting the right response. Listening involves understanding your client’s investment goals and providing the right assets.
Most prospects are new to the sector and often won’t know exactly what they need. to build a lasting relationship, you need to listen to and understand their need. for instance new prospects with a budget of 10M looking for a property to build in Lekki. from the budget, it’s almost impossible to find properties within those price ranges in that currently. Do not be tempted to sell other locations or opt for a lower plot sizes without communicating first. Clearly state the current market environment and watch his reaction, even if he ends up buying, he will most likely come to you in the future.
Let a Client Relationship Grow Organically.
Remember clients and prospects are people. People hate being forced to do anything. they would rather decide on their own. Let your relationship grow organically from during property hunting to allocation. building strong client relationship is a process and as such should be organic
Remember, communication is key to establishing a trustworthy relationship. Talk to your clients to get a feel for what they need and be their best solution. building strong client relationship as a new realtor would help set your career on the right part