The real estate industry in Nigeria is a goldmine that when explored judiciously can lead to you amassing massive wealth. But there are steps to follow to reach that mark.
What does it really take to succeed in your real estate business?
1. Your six-word job description
Do you know that your real estate job revolves around six words? If you don’t generate leads; convert leads; close transactions, then you haven’t started yet. You can’t sell a house without finding clients, and how do you find clients? You find clients by generating leads. Now generating leads is a personal thing. It is solely your business. Once you generate a lead, the next step is lead conversion
The final step is to manage the transaction from contract to close.
2. You can’t close a deal alone
A tree cannot make a forest. No striker scores a goal without the contribution of at least an on-field player; it just doesn’t happen. Comparatively, you can’t close a real estate business deal alone.Clients come and go, but you will work with the other agents in your area for years to come. Having to relate well with other professional in your line of business is a must.\
3. Training matters.
Going into a business venture without the necessary expertise is like going to war without a weapon. The aftermath of such misadventure will be fatal. To succeed in real estate, you need to obtain the necessary training. Even when it seems you’ve gotten the knowledge to succeed, you still need to increase your knowledge base and also adopt new skills that will ensure you still get to stand out among the crowd. After all no knowledge is wasted. Lastly, you should get yourself a mentor in the real estate business
4. Make setting up your CRM (Client Relationship Management system) a top priority
Setting up your CRM is the first system to develop. For the real estate professionals, Client Relationship Management (or CRM) is how you manage your interactions with three key client types – prospects, current clients and past clients.
Since it is established that the growth and development of an agent’s database should be the foundation of a real estate professional’s marketing plan, selecting the best CRM to help implement the plan is critical. That being said, it is also widely accepted that the best CRM is the one you actually use. To build your database, ask yourself whom do you know from your past schooling, jobs, place of worship, recreational activities, service providers, as well as your friends and family. Include your Facebook and other social media contacts as well. Start gathering these names now!
5. Learn from your peers
Don’t ever look down on any one, the same people you passed on your way to the top, may just be the same set of people you would see when the tables turn and you are thrown off the ladder. Learn as much as possible from your peers.
6. Social Media is key
Social Media is the rave of the moment. Many businesses have been granted a lifeline by just advertising on social media. Social Media can help you propagate your business to people you would naturally have been able to reach out to and it expands your business without warning.
7. Face-to-face is the name of the game
Agents lacking face-to-face skills and the ability to confront others when needed, often leave the business because it is too stressful. To be more effective with your clients, ask “how” and “what” questions that uncover what matters to them. Second, always remember, “it’s their property and it’s their decision.” Your role is to provide them with the best information and service possible so that they can make the best decision possible. Use this simple approach to minimize the stress and difficulties you may face.
Use Facebook and LinkedIn to build community and share reviews. Instagram, Pinterest, and YouTube are excellent free places to market your listings.
There’s a lot to learn. Be patient, take it one day at a time, and remember that nothing happens until you generate a lead.