Monday, September 23, 2019

How can I start a real estate business

How can I start a real estate business

A real estate agency can have several approaches, such as
A) Real Estate Brokerage Agency
It is a business that allows customers to contact to buy, sell or rent their properties. That is, you can negotiate available properties in exchange for a commission.

B) Construction agency
It is a business that consists in developing and promoting housing solutions. You do not have to start with a residential complex of 100 houses, you can start with one or two houses and then expand gradually.

C) Investment Companies
Essentially they are made up of investors with venture capital for serious real estate projects. It consists of financing a construction project in order to earn more money.
What does a real estate agency need?
You need a business plan to define all the details of your real estate agency.
Perform the registration procedures of your company. I recommend that you seek help from a professional advisor to help you define whether you will do so as an independent or through a Public Limited Company.
You need real estate agents also called "brokers", real estate brokers or brokers who enter the business and are good sellers.
Key elements of a real estate agency
Take note:

1. The location
You must have a “headquarters” where you can regroup your employees, receive your partners and your customers. Every good real estate agency must be located in a strategic, accessible and profitable place, in addition to having a place in perfect condition, with good decoration. Nobody trusts a real estate agency that looks like anything but a site that knows about real estate.
2. Internet presence
People use the Internet and their mobile phones a lot. So being on the Internet is not optional for a real estate agency. The most effective networks for this type of business are: Facebook, Twitter, Google+ and LinkedIn and Google My Business. In addition, to achieve a better impact on the Internet your real estate agency must have:

  • A web page (landing, because it is a service).
  • A search engine within your website and blog.
  • A blog (to get the necessary web positioning).
  • An email marketing strategy (I recommend using Mailchimp).
  • Use real estate images.
  • Collect and store personal data of sellers and buyers well.
  • Use Google Analytics to measure what works on your website.
  • Tools to program content on social networks.
  • A tag (#) with which you can collect your own content on the Internet.

The lists work very well on the Internet and you should use that for your benefit. For example: "The 10 things you should know before moving ...", "Top 10 cities with better quality of life", etc.

3. Web alliances
If you are a real estate agency daring for sure you will find new ways of doing things, however, what works best are alliances on the Internet. Find out who are the companies (not direct competitors) that share a part of your target audience to create exchanges, for example:

  • Travel blog
  • DIY blogs.
  • Blogs for honeymooners, families, etc.
  • Moving blog.
  • Blogs and construction pages.
  • Interior decoration blogs.

Remember that you must structure your website and blog as coherently as possible so that your clients and future clients can find what they are looking for. Organize the sections by areas of interest, spaces, location, price, requirements, parts, etc.

In order for you to survive in the real and virtual world where there is so much competition for a real estate agency you must do the basic things and dare to experiment. In the case of doing the traditional is advertising. Here you have to be willing to invest money in all media where your potential buyers really are. That is, you will not advertise on a young radio (because the profile of that audience is not focused on buying a house or a property).

I. Traditional advertising
You cannot forget the means we all know.

II. Web advertising
You should keep in mind that the Internet is the main weapon to attract customers today. So for that you must invest in Google advertising and social media advertising. If you want to know more, I leave here the links to start:

  • Google AdWords (advertising across the web)
  • Google AdWords Express (advertising in your area)
  • Create your first Twitter Ads campaign
  • The guide for Facebook Ads

Now that you know the basics of what your real estate agency needs but you could not succeed without a system that optimizes all the times and tedious tasks of your business. That is why if you have (or want to have) a real estate agency with many sellers I advise you to use a CRM system.

What does a CRM do for a real estate agency?
The first advantage of having a CRM is the total control of your business in one place. In addition, it allows you to optimize the time of repetitive tasks, assign tasks, reminders, backup information automatically, etc. The CRM is an excellent tool for all sellers (especially those of a real estate agency) because in general with a CRM you can:

  • Detect prospects, where they are in the purchase cycle.
  • Define your Buyer Person.
  • Better your sales process.
  • Write down the information of all your clients and prospects.
  • Have at hand the interests, concerns and needs of your customers.
  • Save the "sales pitch" that each seller used for each prospect and customer.
  • Assign scheduled appointments to a calendar.
  • Improve your customer service and cross selling.
  • Coordinate projects and campaigns, follow up.
  • See in graphics how your real estate agency is doing.
  • Do billing, accounting and maintenance tasks more easily.
  • Send mass emails.

And many more things that would make your real estate agency a more bearable business.


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