Growth is always one of the many goals of any kind of business, big or small. Of course, “growth” can mean a lot of things. For real estate brokerages, this can come in the form of more clients or perhaps expanding into more territories.
No matter how you define business growth, however, it’s undeniable that it’s not an easy process. If you find your brokerage struggling to achieve your goals, here are some helpful tips:
Hire Real Estate Recruiters
One of the biggest contributors to a real estate brokerage’s growth is having the right people on board. After all, how can you achieve success if you don’t have people who are prepared to work towards achieving it?
The best way to find the best agents, brokers, and other real estate professionals for your brokerage is to work with real estate recruiters. They have a wide network of potential candidates, not to mention prolific experience in candidate sourcing, assessment, and negotiation. With recruiters focusing on getting the most qualified applicants for you, you can then focus on other aspects of your business.
You can go here for more information on how working with real estate recruiters can help accelerate your brokerage’s growth.
Invest in Your People
Once you’ve hired the best of the best, you need to invest in them. This not only helps increase productivity and efficiency, but also encourages loyalty. More importantly, it shows that your brokerage cares about the well-being of its people.
Some of the things you might consider investing in include technological tools such as gadgets and real estate software. You should also think about how you can help your employees advance their careers, like sending them to training and establishing a mentorship program.
Promoting work-life balance is also a good way to invest in your employees. Give them paid time off, sick leave, and other benefits that encourage them to take a break, relax, and enjoy their work-free time.
Don’t Forget Your Previous Customers
As earlier mentioned, one way that “growth” can be defined is the acquisition of more new customers. This is true for the real estate industry and beyond. However, in your effort to acquire new clients, you may forget to take care of your previous customers.
Make sure to follow-up with your existing and prior clients, whether or not they ended up successfully buying or selling a property through your help. This show of goodwill goes a long way to promote name recall so that, the next time they want to conduct business, your brokerage will be top of mind.
Admittedly, repeat customers are a different case with real estate because properties aren’t regular purchases. Nevertheless, you should aim to maintain rapport with your previous clients, even as you work on getting new ones. Word of mouth marketing is extremely effective, and you should let it work in your favor.
Maximize Digital Platforms
Your real estate company’s online presence is a huge contributor to business growth. For one, you can gain valuable insights through social media platforms and your website. This can then help you tweak your marketing materials and content, to ensure that they appeal to your potential customers, employees, and business partners.
Digital platforms can also help you identify relevant keywords, allowing you to address concerns and provide solutions. You can also use the insights you acquire to improve customer service, particularly with regards to communication.
Finally, with a seamless and organized online presence, you can quickly build an accessible business profile. You can showcase your body of work and company culture, which then makes it easier for you to attract both new customers and potential candidates.
Support Advocacies and Give Back to the Community
Customers and business partners are more willing to work with a company that supports worthwhile advocacies. Thus, it’s a good idea for your real estate brokerage to make contributions to causes like sustainability, cancer research, and anti-poverty programs.
You can also opt to donate to charitable organizations and groups. In fact, your own employees may be more than willing to volunteer their time to help. The bottomline here is to give back to the community in meaningful ways. Business growth isn’t just all about your progress, but others’ as well.
Participate in Industry Events
Networking is part and parcel of any business. By establishing connections with other real estate companies and professionals, your own business can easily reach new customers and partners. Moreover, you can also establish not just awareness but also credibility on a wider scale.
Some events you may want to participate in include trade shows, conventions, and conferences. It’s good to aim for national or even international events, but it’s equally as good to be present in grassroots programs. You should also consider hosting your own events, or else being a sponsor in community-centric ones.
The key to business growth is to realize and accept that it doesn’t happen overnight. Moreover, there is no single secret to achieving your goals. Rather, it’s a combination of different factors along with consistency in gunning for what you want. Hopefully, these tips can guide your brokerage into achieving your growth targets.