The services your real estate agency provides are the main reason why customers decide to come to you, instead of making their own arrangements.
In an environment as competitive as the present day, its important you listen to what it is they need and react quickly, providing an expert, quality service. Here you can learn which are the business areas with the most potential, and how to stand out across the board.
Buying and selling of properties
Although it is a fundamental part of any real estate business, if you want to be successful, your duties must go much beyond showing houses. Anyone can do this, but no one can offer the same customer experience as you. You need to understand that part of your business is your personal brand, and plan strategies to develop it.
One of the strategies that you can follow is to specialize yourself in a particular subject. Then you will ensure that both buyers and sellers will seek you out, in the hope that you bring together specific supply and demand. Some examples include real estate agencies specialized in luxury properties, those that work with plots for industrial development, or those that focus on commercial premises.
In all cases, customers benefit from a filter and achieve in gaining visibility where they want it, optimizing their efforts. You have to position yourself as an opinion leader and know in-detail about your sector, so you will need some time and good communication build your reputation in the field.
Knowing your clients, listening carefully to what they want from a property and helping them with your expertise is another of the tasks you can work on to stand out from the competition. No one has the same skills and capabilities as you, and you have to make the most of them.
This service is also in very high demand, and bearing in mind that this is a trend on the rise, you shouldn’t ignore it, as it can bring a lot of perks. In this case, you have to work to offer an excellent customer service. Remember that it is relatively simple to find a property without help, so you will have to make clear how you add value.
Be proactive and don’t just show the properties you are asked about. Meet with tenants and landlords, and make an effort to get to know their wishes and needs. Think up alternatives and solutions to the problems they encounter and communicate regularly and fluently with new proposals
You can also look for business opportunities outside of the obvious circuits. Work on exposure among people with international jobs who travel constantly and need a second home in the city, for example. You will also have an opportunity to help start-up business that need a temporary head office. Put yourself in the shoes of the buyers and try to anticipate their needs.
Transfer of assets
This type of work offers a huge opportunity, but will also require extra knowledge on your part. The transfer of assets takes place when the mortgage holders are unable to make their payments, and have to return the property to the bank. This type of transaction tends to be very interesting for buyers, who can get good prices for secondhand properties.
If you think that these services could be of interest to your clients, the first step to take is inform yourself on the legislation surrounding the topic. In doing so, you can provide a lot of value, accrediting the ownership of the property, the charges it has and the other factors that will affect the success of the operation. Later on, you can use this experience and your knowledge of the subject as an advertisement.
Real estate consultancy
When you work with businesses and individuals interested in investing in properties, it’s very important that you offer a consultancy service where you explain fully the potential of every transaction, both its possibilities and limitations. If you decide to opt for quality in this respect, you will benefit from solid relationships with a buyer demographic that has the potential to opt for you at a later stage.
We advise you to stay up to date with the legal framework. This can involve a variety of features, from national laws surrounding a certain activity to municipal by-laws that change land regulation, necessary formalities or tax benefits. Knowing how to connect the dots with your property portfolio will help you to advise each client in a personalized way.
And don’t hesitate to use the technology you have available, from system databases and CRM to specialized platforms. Any tool will be useful and valuable if it helps you to be more precise in your work.
Transaction management support
In this part of the process, the work you do off your own accord, and the preparation you carry out will also be very important. There are transactions that are always going to be similar, like signing an Arras contract or the formalization of a sale, but others can bring great added value.
One example of these is mortgages. The banking market is changing constantly, and it offers a variety of products that can end up being confusing to a non-expert buyer. Understanding the differences between a fixed and variable interest rate, the new regulations and sentences about IRPH, etc, will be very useful for helping buyers make the best decision for them.
You will also improve the quality of your service by advising buyers and sellers on the financial impact of the transaction on their tax returns, or by giving them ideas on how to avoid having to lose a fortune on capital gain. As we have already advised, the best solution is being proactive and putting yourself in the shoes of your clients.
By following our advice when it comes to providing real estate services, you will see how you are capable of carving out an excellent reputation for yourself. You will also be capable of gradually establishing a relationship of trust with your clients, which will end in a more solid and stable business.