The real estate market has change dramatically in the last decade. Technological and industry advancements have changed the way real estate agents market their business and show homes, as well as how clients can get financed. Despite these changes, home sales have continued to increase and real estate business is booming. Read on to learn innovative real estate business ideas that will keep your real estate business fresh and your revenue growing.
Creative Ways to Build Strong Client Relationships
As industries in all fields continue to turn toward web-based interactions and new technologies, your ability to maintain strong client relationships matters more than ever. The more genuine you are with your clients, the more memorable you will be to them, and the more likely they will be to retain your services.
- Pay attention and listen more than you talk
- Offer value to clients’ lives and provide "massive help"
- Focus on relationship-building, not the sale
Become an expert at relationship building
While natural charisma is a benefit in a client-based industry, it’s important to put in the work to truly understand the components of relationship building. With a plethora of real estate agents to choose from, clients will choose your services based on your professional ability, and if they like you!
There are many ways to strengthen your interpersonal skills, including online classes about emotional intelligence or conflict resolution. Read The Relationship Business to learn if you are an “attractor” or a “seeker” in real estate sales, and which approach would benefit you. The article offers excellent tips on building bonds, maintaining relationships, and how to get “down to business” without it turning off your prospect.
Other popular books on relationship building for individuals and business owners alike:
- The 11 Laws of Likeability by Michelle Lederman
- The Laws of Charisma Kurt Mortensen
- The 7 Habits of Highly Effective People by Stephen R. Covey
Innovative Marketing Ideas to Tap Into New Markets
Wear your badge around town
The Relationship Business offers another tip for free real estate business marketing: wear your name badge around town. This simple act is very effective for starting conversations with people while you are out doing errands or grabbing a coffee. Every conversation has the ability to be a business building opportunity.
Offer a housewarming party service
Add a personal touch to your real estate services by offering a housewarming party service after the client moves into their new home. While this is a great way to say thank you to your client, it is also a marketing win for you. When you are hosting the housewarming party you will inevitably meet your client’s friends and family. You can mingle and get contact information from those who may also be in the market for a home.
Partner with a charitable organization
Many local charitable organizations will gladly partner with you for a mutually beneficial relationship. You can offer to donate a percentage of your profit when you close a sale. In return, the charity or non-profit can send prospects your way. Stand out among real estate agents and better your community at the same time.
Teach community classes
Another innovative real estate business idea is to market your business by teaching free classes in your community. Community members benefit from the information and get to know you and your services. You will establish yourself as an expert in the home buying industry and discover new prospects.
A few ideas for classes your could offer are:
- Information about the city for newcomers
- Details of the home buying process
- How credit repair can get clients better interest rates
Ideas for Creating a Strong Online Presence for your Real Estate Business
Real estate business ideas for social media
Social media has quickly become the new way business owners reach future clients. Social media platforms, like Facebook and Instagram, provide a free way to market to clients. It’s important to be tactful and authentic so that your prospects don’t scroll right past you.
Offer value
Give people a reason to follow your page. Provide educational classes or webinars, post useful information about the home buying process, or offer Q&A.
Be authentic
Show your true self and engage your clients. People are drawn to real, local business owners. Post success stories of new local homeowners and share the local sports team you are sponsoring.
Draw attention
When you post fun and engaging material on your social media, your business will stand out. Offer raffles and promotions, start conversations, and share pictures.
Offer Additional Services to Clients
Become a real estate broker
If you are interested in continuing your education to further your career, you may want to consider becoming a real estate broker. A real estate broker can work independently or hire a team of agents underneath them. While brokers do generally earn more revenue, there is a higher entrance barrier (which varies by state). Generally, brokers must:
- Complete state-specific education
- Pass a broker’s licence exam (longer and more difficult than an agent’s exam)
- Have 1-3 years experience as a real estate agent
Add credit repair to your client services
A client’s credit score is a huge component of the home buying process. You’ve probably had clients who settle on a smaller home because they couldn’t qualify for a higher loan. Maybe you’ve had clients walk away because they couldn’t qualify for the loan they wanted. What if you could help your clients get a better loan with a lower interest rate by repairing their credit?
Not only will starting a credit repair business help your real estate clients, it will give you added income. Credit repair is a lucrative business opportunity. With Credit Repair Clouds’ patented software, you will spend on average 5 minutes per client per month. With low overhead and huge potential, a credit repair business is a perfect pairing for your real estate business.
By adding credit repair to your professional toolbox you:
- Help your clients get matched with a better home with a lower interest rate
- Get monthly recurring revenue
- Make a positive impact on your client’s lives
- Have more job satisfaction and more happy client referrals
Learn more about how a credit repair business could change your life and business.
