NEW YORK — To create a foundation for stability, sustained growth and opportunity in unpredictable real estate markets, firms need to undergo a self-assessment of what is working and what isn’t. This includes reviewing how leads are generated, the client management system and processes and marketing and communication strategies.
Firms should solicit feedback and input from staff and clients to see where changes could be made to improve the business. Clear, tangible goals are necessary to find opportunities, close transactions efficiently and effectively and boost client satisfaction. Goals should be purpose-driven with clear targets for every aspect of the business.
Technology can be a secret weapon to supercharge the business, whether that means adopting a new CRM system to track client interactions or automated email tools to keep communications accurate and flowing. Other options can include virtual home tour software to spice up property listings.
Digital media is key in building a real estate business and online presence should be clean, crisp and reflect what makes the firm stand out in the market. Website refreshes, SEO optimization and social media are other key ingredients, as are video content, client testimonials and partnerships with local businesses.
Above all, relationships with clients should be front and center throughout the transaction, which means regular communication, sharing useful information and creating a referral program to generate more leads and reviews.
Simplifying the transaction process with digital management tools also can reduce manual errors and reduce time delays, making the firm more dependable. Other strategies for boosting business include investments in professional development for leaders and others on staff, the solicitation of reviews from clients and regular assessments of your processes and strategies to ensure they are still relevant to the current market.
Source: Inman (11/15/24) Davis, Darryl
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