Tips for Real Estate Agents: The short-paced digitization is altering the standard sales process. For this reason, realtors may go through unnatural and encounter complications with full day-to-day functions. How will you address their concerns while you focus on enhancing your realtor productivity and property sales? Here are 10 handy tips for real estate agents and developers that’ll help:
Tips For Real Estate Agents and Developers To Increase Property Sales
1. Hire the right people
If you would like your team to become more lucrative, concentrate on hiring the best talent. Hiring agents with previous property experience or understanding of the profession provide you with yet another boost towards enabling productivity.
Getting an effective workforce can help you get more tasks completed with fewer sources. Furthermore, agents with prior property sales experience can increase the value of your training process because they know real estate business.
Tip for real estate agents: You can make up for your lack of experience through deep research about the industry.
2. Sales Training
After hiring the best people, the first thing towards improving sales productivity ought to be enabling agent training. You have to set a standardized operating procedure (SOP) for those agents. You may also set the procedure according to various factors such as:
- Property type
- Customer profile
An SOP can help you produce a streamlined process. Additionally, you will have the ability to comprehend the bottlenecks inside your process every time they arise. Provide your agents with an information bank that contains all relevant materials for reference. Tips for Real Estate Agents An adaptable sales training module goes a lengthy means of growing realtor productivity.
You need to update the working out method, content, and all sorts of documentation every so often. To get rid of tech-related confusion, hands-on training is essential for tools like:
- FoS application
- Email tools
A buddy system is a way of increasing the training experience. Here new Tips for Real Estate Agents use designated sales professionals. These buddies have an effect on agent performance and assist them whenever needed.
Tip for real estate agents: Do attend the training sessions to get clarity into the business process.
3. Set smaller goals and achieve them consistently
Meeting sales targets could be daunting for many agents. Hence, the ultimate goal could be fragmented making it into smaller-sized realistic pieces that are simpler to tackle.
Consistently achieving smaller-sized targets will induce confidence among the agents and can result in greater agent productivity.
4. Practice Routine
Creating a routine to your daily operations will help you produce a streamlined process for the various teams. For instance, schedule all of your calls within the first half, achieve to the shoppers prior to the visit, produce a task list, and much more. These routine activities may also allow you to identify which part of your process is hampering your speed and agility.
You may also experiment with different routines to obtain the optimal process for the agents. Once you know the procedure that works well with your agents, you are able to standardize it across teams
Tip for real estate agents: Do keep experimenting by adding and removing activities from your routine. This may help you increase your productivity.
5. Define a process workflow
Aside from a regular, a strong yet flexible workflow can permit you to restructure the procedure better. For instance, your agent may get a property request where they have to coordinate with another department. But if they’re not in direct touch using the particular team, energy might be lost in choosing the best contact to transfer this kind of inquiry. That’s the reason you’ll want a precise flow for internal processes. Tips for Real Estate Agents This can make sure that all of the different teams are on a single page, and also the process works like clockwork.
In a situation your strategy requires more effective handling of incoming leads, you’ve got to be in a position to organize teams, operations, sources, and plan the final results.
A compartmentalized process workflow will also help you organize data and audit it if you wish to understand the best way to further enhance your realtor productivity.
6. Do regular workload analysis
Getting a lot of tasks within their buckets can hamper an agent’s productivity. A workload analysis will help you realize why some agents aren’t able to deliver their finest results.
A highly effective task distribution system will be sure that the workload is shipped equally to one of the agents. Which is relevant across qualities/projects too.
For instance, your workload analysis can display your underutilized manual sources inside your project. By using this data, you are able to reallocate individual sources thus increasing your home sales. Carrying this analysis frequently will generate data, which will help you with better resource allocation later on in projects.
7. Smart Lead Gen
Whenever we say smart prospecting, we mean purchasing probably the most lucrative causes of prospecting. Property firms are actually more tuned for the source attribution of leads since it needs a constant investment of cash.
While identifying the best sources, you have to take into account many factors for example geography, regional language, property type, and so forth. For instance, if you’re a developer within the luxury qualities segment, your lead gen channels, and the audience will change from the developer within the affordable housing segment. Similarly, the populace inside a micro-market may respond positively to local newspaper ads as opposed to digital ads.
Hence, you have to identify which channels work well for you. Tips for Real Estate Agents Your time and effort you place into good lead sources will take you qualified leads. By doing this, profit agents won’t have to chase after low-quality leads and therefore, save effort and time.
Aside from this, an omnichannel communication strategy that enhances all lead gen sources goes a lengthy way. Each one of these efforts brings both velocity and quality into the funnel, consequently growing realtor productivity.
8. Prioritize leads
Whom to approach first happens to be challenging for realtors. Within the pool of customer queries, agents frequently don’t know the best possibilities to approach and finish up spending considerable time running after the incorrect leads. Efficient sales are about hearing the signals originating from a chance and being positive. Identifying these signals allows more appeal results to going into the funnel. But how can you identify these signals?
The answer is simple. Use real estate CRM software to identify sales opportunities and notify your agents. And whenever there is an opportunity, prioritize follow-ups with them. A CRM tool can track all lead interactions, such as:
- Website visits
- Call back requests
- Interaction with social posts
More quantity of interactions or greater engagement levels signifies the lead is interested in your home. Quite simply, the charge includes a greater buying intent and could close soon.
Lead Prioritization is vital mainly in the early stages of the homebuyer journey. It decides the caliber of leads entering the profits funnel. Here, the homebuyer is attempting to create opinions and understand their home needs. Agents must achieve these possibilities fast and show a positive approach.
Identifying the right leads and prioritizing them can help you improve your property sales.
9. Manage prospect relationships
The entire year 2020 ushered in much-needed digital innovation and adoption. One technology that’s fast getting attention from realtors for their customer-facing operations is CRM. CRM has been utilized in the real estate market for a while now. However, previous year, their adoption in the real estate market has elevated drastically.
Developers are transitioning from Excel and Google sheets to CRM for effective data management. With Real Estate CRM, developers have experienced an explosion in their real estate agent productivity.
For instance, a number one property developer in India improved their team efficiency by 30% and elevated their home sales by 40% using LeadSquared. Read about this here!
Using such tools, your agents are capable of doing several activities for example:
- Capturing leads from various channels like social media, organic, offline sources, partner agencies, and more
- Prioritizing these leads based on their engagements and other related attributes
- Automated distribution of inquiries and tasks
- Visualizing the entire homebuyer journey
- Reminders for follow-up, notifications whenever there is an activity from a lead
- Scheduling visits and automated communication
CRMs also permit you to draw customized agent productivity reports and flag underperformance. By doing this, you are able to take timely actions, and address their challenges, which help them perform better.
Tip for real estate agents: Use the activity tracking feature of CRM tools to understand the lead’s buying intent and accordingly prepare your pitch.
10. Use Marketing Automation
An Advertising And Marketing Automation tool can automate marketing and lead nurturing activities. It can benefit capture leads from squeeze pages, create targeted campaigns, nurture existing leads, and much more.
For instance, throughout the first quarter of 2020, many leads who have been interested in buying property altered their decision because of financial uncertainty. While these leads had intent, it wasn’t the best time to allow them to purchase a property. Using marketing automation, you are able to segment such leads into the rest (cold leads or invalid leads) and send them specific nurturing campaigns.
Marketing automation tools perform the heavy-lifting and segment leads instantly according to their behavior data. Furthermore, after you have set the automated workflows, these power tools send nurturing communications to leads every so often. By doing this, agents don’t have to pursue all of the leads individually and may focus more on priority leads first.
Developers take several steps to enhance realtor productivity. But many get it done lacking the necessary visibility in to the process. Such opaqueness in to the agent performance can perform more damage than good for your sales pipeline. Hence, you have to take every measure to trace and increase your agent’s productivity.