There is no doubt that the real estate industry has seen its fair share of ups and downs. With the raging pandemic orchestrating an economic meltdown globally, the demand and growth in the real estate industry have been felt.
That does not mean that there is any dearth of lucrative opportunities for real estate agents, Yes, your demand for commercial real estate might be down, but families are looking for bigger homes out in the country with more space and fewer crowds!
As an industry, real estate has always bounced back stronger after every crisis historically. This has led many experts to predict that the year 2021 is going to be one of the strongest ones ever for the sector.
In this article, we speak to leading real estate firms, brokerages, and experts and ask them to share with us the top 7 Sales Tips for Real Estate Agents to succeed in 2021.
- 1 Real Estate Agents: What do they really do?
- 2 let us list down the activities of real estate agents:
- 3 List of Top 7 Sales Tips for Real Estate Agents to Succeed in 2021
- 3.1 1. Sell the Value and Sentiment, not the House:
- 3.2 2. Take help from Digital Marketing channels:
- 3.3 3. Try the ‘Three Option Rulebook’ strategy for more Sales:
- 3.4 4. Offer Solutions by building Relationships with Stakeholders:
- 3.5 5. Be Humane and always do the Right Thing:
- 3.6 6. More Activity Means Better Results:
- 3.7 7. Use Technology and Software to help you with Sales:
- 4 The Final Word
Real Estate Agents: What do they really do?
There is not a lot of clarity that is associated with the exact work profile of Real Estate Agents. It is true that over the years, real estate agents have branched out and picked specializations, which they felt were most suited to their skill sets and market requirements.
However, for the convenience of everyone,
let us list down the activities of real estate agents:
- Offer constructive suggestions to homeowners looking to sell their properties
- Advice new buyers on market conditions, valuation options, and close sales
- Interact with financial companies and help buyers get Home Loans or Mortgages
- Negotiate all dealings, the price factor, and terms between Buyers and Sellers
- Fix documentation, secure licenses, and file papers for registration and other formalities
- Make sure to stay aware of all changes in laws and regulations in the real estate sector
- Engage in marketing and advertising to sell properties and build prospective contacts
- Network with stakeholders- bankers, designers, contractors, decorators, etc.
While there might be other areas like showing properties, maintaining a potential list of clients, etc. we feel that the above eight points cover almost all activities of a real estate agent.
As a real estate agent, you need to ensure that you are working for the highest commissions. In fact, in 2021, getting a 100% commission is not out of the question anymore.
List of Top 7 Sales Tips for Real Estate Agents to Succeed in 2021
1. Sell the Value and Sentiment, not the House:
As a Real Estate Agent, you should never be trying to sell a house. Rather you should aim to sell value, sentiments, emotions, and memories. For example, if you are looking to sell a house to a newly married couple, you should take them out to the magnificent front lawn and show them the area where their future kids can play. This is what is going to help you with business. Square footage, brick walls, etc. are good, but then they are, everywhere aren’t they?
2. Take help from Digital Marketing channels:
A Real Estate Agent needs to leverage digital marketing platforms and technologies to stay relevant in 2021. Having a YouTube channel where you do Open Houses, Tours, and discuss the features of the same can help you strike a chord with audiences. It will be helpful in opening up a new sales channel, but also allow you to build on your credibility and branding in the field. The best real estate agents maintain an aggressive presence on social media platforms.
3. Try the ‘Three Option Rulebook’ strategy for more Sales:
If you want to convert prospects into sales, you need to start following the ‘The Three Option Rulebook’. In very simple terms, the first option is within budget but does not have the proper environment, ambiance, and build. The third option is beyond budget and borderline extravagant. It has everything! The middle option is a mix of both, beyond budget, but within striking reach, and has a lot of value. Buyers will go for the middle one all the time!
4. Offer Solutions by building Relationships with Stakeholders:
A good real estate agent should know how to troubleshoot problems and issues for their clientele. Whether the problems are related to financial loans, renovation work or simply hearing them out, it is important to build relationships with other stakeholders in the real estate ecosystem. This will not only show how helpful you are when it comes to solving problems for your clients but will also improve your chances of making sales from projects.
5. Be Humane and always do the Right Thing:
The real estate sector can be highly competitive. There is no doubt on that front. At any point, you are competing with several other agents to sell a property, get buyers, and improve earnings. However, at no point should you try to hide something important or use concealment to your advantage. If there is a problem with the property, you should let the prospective buyers know. This will make you come across as genuine and spread the word in the industry.
6. More Activity Means Better Results:
A real estate agent should be constantly in communication with buyers and sellers. This means phone calls, emails, text messages, etc. should be done on an everyday basis. You can also use Emailing as a credible technique to stay in the visibility of buyers and sellers. If at any point, they need help with regard to real estate issues, they will get in touch with you. You should double down on the activity front in 2021.
7. Use Technology and Software to help you with Sales:
Most real estate agents are very haphazard in the way they use technology and software. What happens if you are showing a home to a tech entrepreneur. He might find your usage of technology to be cool enough. In that case, you stand a better chance to make the sale. Using technology can help you arrange contact lists, send out communication, market yourself better, and improve follow-ups with clients. It is important you start using tech to help you in 2021.
The Final Word
The real estate industry as a whole is experiencing a change of sorts. There is a gradual evolution in the tactics and strategies to be more sales-oriented. However, building credibility continues to be one of the strongest ways to help in making actual sales.
Can you think about some more sales tips for real estate agents to succeed in 2021? Let us know in the comments section below.