According to statistics, over 75% of real estate businesses started each year in the US collapse before their second anniversary. But what are the reasons why there aren’t many successful new real estate businesses? Lack of experience in the business is the leading cause of business failure. Chris D. Bentley, an award winner for the best Realtor in 2021, shares why success as a Realtor is a choice.
Customer Service
Many Realtors who fail in the business are due to poor customer feedback. Customer feedback, either negative or positive, should be taken seriously by the customer relationship management staff. Positive criticism needs to be noted, and the corrective measure requested by clients should be evaluated and timely implemented if need be. Ignoring your customers’ feedback could tremendously affect your business.
Furthermore, ignoring your customers’ complaints makes them feel less valued, thus lowering their loyalty. Customers may fail to purchase your real estate products and services due to a loss of trust. Chris D. Bentley has allocated sufficient time from 7AM to 11 PM everyday to offer personalized customer service to their clients.
Social Media Marketing
Social media offers an excellent opportunity to widen the real estate market scope. You could sell your company’s services to new prospective clients on Facebook, Twitter, and Instagram. The company can use social media to cement good customer relationships.
Moreover, customers can make inquiries about the available luxury houses. Social media also offers a platform for proper engagement with your customers.
Having Proper Networking
You would need proper networking with your existing clients to get the referrals. Your existing clients would be your brand ambassadors for your real estate company’s services they have enjoyed. They can easily give you the connection of their friend whom you can convert to business. Maintenance of your existing clients and increasing the number would assure sustainable business growth.
Diversification Of Your Portfolio
To be successful in real estate, you could diversify the services offered to customers. For example, Chris D. Bentley deals with residential and commercial selling, buying, and leasing, especially luxury homes. Diversification helps maximize on profits generated.
However, the concentration of one service, say selling commercial office buildings , would expose you to losses in case of market shocks.
Build Personal Integrity
Realtors should at all times share accurate information with their prospective customers. If you describe that your apartment on sale has a swimming pool, that shouldn’t be a bait to trick customers; it should consist of all the facilities described in the ad.
To maintain a positive reputation before your customers and have a successful career as a realtor, you always need honesty and truthfulness.
To be certified as a qualified Realtor, the government requires you to uphold high ethical standards through the National Association of Realtors. Lack of integrity would cause your clients to cease trusting you, leading to loss of business.
Wrap Up
Your success as a realtor is mainly dependent on you. If you ride on the efficacy of social media to widen your market, uphold work ethics and diversify your portfolio, you will scale a successful real estate business.
For more information, connect with Chris D. Bentley on Twitter @https://twitter.com/ChrisDBentley and on Linkedin https://www.linkedin.com/in/chrisdbentley/