Real estate holds immense potential. That’s what makes it a crowded market. As we discuss India’s real estate sector, it is moving upward on a growth trajectory. By 2030, it is expected to reach $1 trillion in market size, showing promising opportunities for real estate business, agents, brokers, and more.
If you’re a real estate developer, agent, promoter, or broker, here in this blog we have discussed tips on how to grow your real estate business.
7 ways you can accelerate your real estate business growth
Boost your networking strategy
Networking events are full of opportunities. Those who wish to build a strong networking portfolio should implement a targeted approach. Create a goal to connect with those who can be a helping hand for you. Arrange meetings with different people who can provide recommendations, advice, and help reach your specific business goals.
Since the real estate sector is dynamic, you can leverage networking to stay updated on new project launches, regulatory changes, investors’ sentiments, and market trends. Besides, it helps build credibility and trust among investors and industry stakeholders.
Improvise your time management strategy
One of the common problems that real estate agents face are of lack of time management. With no proper time management, growing your real estate business will be more challenging. Avoid focusing on distractions or trying to finish your to-do list from top to bottom.
Instead, use a time management tool to break down your real estate business ideas, dedicating specific time for each online or offline meeting, visit, project presentation, report creation, and more. You can use Trello or other time management tools to organize your to-dos.
Effective time management accelerates your success rates in a competitive industry. You can easily arrange tasks based on priority and maximise your productivity.
Try converting your leads through email
Do you have a CRM system in place for lead tracking? If yes, it’s time to implement some other tactics. For those who aren’t ready yet to invest or something holding them back, email marketing is the best strategy to target them. Email marketing broadens the horizon to showcase them your project, highlight your project’s features, and show them your knowledge of the real estate sector.
Be sure to keep your email informative to address their concerns. This will compel them to approach you for more info, leading to a closed deal.
Those who don’t know how to start a real estate business without a dedicated marketing team should rely on emails. Every email you send should have dedicated CTAs, clear goals, and catchy copies.
Hire someone for the assistance
In Lucknow’s real estate or somewhere else’s, you can’t work like a lone warrior. There comes a time when managing everything on your own will feel challenging. So, it’s a wise step to hire an assistant. You can dedicate your time to reaching new clients, scheduling visits, and focusing more on growing your business.
If your business is small, you can opt for a part-time or virtual assistant. They can manage leads, take calls, and do other tasks while you focus on your nurturing your client relationships.
Understand your local market
As a real estate business, you need to have a strong understanding of your local market. This helps build a reliable identity. You should spend time to understand the specific areas, infrastructures, panned projects, local regulatory laws, property taxes, nearby amenities, and more. For example, if clients look for 3 BHK residential flats in Lucknow or anywhere else, make sure you have complete information about the locality.
Mastering your local market lets you classify properties that are undervalued. It also enables you to recognize the growth potential of an area that’s hidden from investors’ eyes. This gives you a competitive edge, boosting sales. Investors may have hundreds of questions before investing in an area. If you’re familiar with the area, providing them with the right answers will win you a long-term relationship.
Use social media to your advantage
Almost 62.6% of the world’s population uses social media. Ignoring is impossible as it holds immense potential to land you potential investors. If you want to grow your real estate business, take it on social media platforms. You can run ads, share valuable content, and generate leads.
Here’s how you can harness social media potential:
- Give a live tour of the villas or 2 BHK flats for sale in Lucknow or other parts of India.
- Create congratulatory posts for new homebuyers making them feel special. This will make your content show in people’s feed, evoking their interests in your project.
- Boost your posts regularly within the budget to reach a wider audience base. Set the demography to target the audience based on their income, age, occupation, and more.
- Leverage the potential of Facebook (Meta), Instagram, and WhatsApp.
Don’t shy away from asking for referrals
About 80% of real estate businesses come from word of mouth and referrals. Ask your current and existing clients for referrals. Be sure to incentivise them for their successful referral turning into an investor. You can include a referral program in your site or use custom gifts to entice them.
Conclusion
So, these are the top ways to grow your real estate business and outshine others in the market. Optimize these ideas according to your needs and determine which one works best for your business.
