Building up a real estate business from scratch can be fairly challenging, but with the right tips and techniques, you can take your business from a little-known company to a successful venture – the key lies in using the right methods to increase both listings and sales, rigorous business promotion, and offering excellent services which customers will not be able to find anywhere else.
- Begin by assessing the market conditions, so you can decide on a particular real estate business model – do you want to grow into a traditional real estate broker, or go for a different path, such as discount or flat-free? You should aim to offer unique services that clients will not find anywhere else, so you can establish your own niche. Do not jump onto any bandwagons and follow current trends and demand spikes – think wisely about what could be the most lucrative for you in the long term.
- Rent an office place, so your business can have a physical address which clients can visit – since this is a real estate business, simply running it online will not do. If needed, hire a real estate agent to help you get a good deal and lease office space which is suited to your needs and have reasonable monthly payments.
- Get training in your particular line of business – it is essential to be an expert at it before you begin. Ideally, you should only get into the business if you have been interested in it for a long time, or can benefit from the mentorship of someone who is more experienced than you are. In addition to brushing up on your own knowledge, you also need to hire experienced employees.
- Once the business is set up, use modern technology to launch a persistent marketing campaign. Make a page and groups on Facebook, create a Twitter account and tweet regularly, create a top-of-the-line website to impress and attract potential clients where people can sign up for subscriptions – make sure you send out regular emails to your subscribers (these can include discounts on services and promo codes). Learn SEO techniques, in order to develop a strong web presence.
- In addition to technology, you can also opt for the traditional route to business promotion, for less tech-savvy clients. Place advertisements in newspapers, magazines, print out brochures, fliers, and business cards, and place ads in Craiglist, so buyers get to know that you have listings.