Real estate business – Josh Adams Realtor http://joshadamsrealtor.com/ Fri, 17 Jun 2022 10:17:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://joshadamsrealtor.com/wp-content/uploads/2021/10/josh.png Real estate business – Josh Adams Realtor http://joshadamsrealtor.com/ 32 32 Rules of Rhodes: A father guides his sons through the family real estate business https://joshadamsrealtor.com/rules-of-rhodes-a-father-guides-his-sons-through-the-family-real-estate-business/ Fri, 17 Jun 2022 10:17:53 +0000 https://joshadamsrealtor.com/rules-of-rhodes-a-father-guides-his-sons-through-the-family-real-estate-business/ The Rhodes family: Tom and Suzy, Courtney, Burton, Thomas, Patrick and Dan Tom Rhodes taught his children at a very young age to tell the truth, value reputation and put family first. These principles and seven more have become the Rhodes Rules, the principles upon which their Compass property group is based. The Rhodes group […]]]>
The Rhodes family: Tom and Suzy, Courtney, Burton, Thomas, Patrick and Dan

Tom Rhodes taught his children at a very young age to tell the truth, value reputation and put family first.

These principles and seven more have become the Rhodes Rules, the principles upon which their Compass property group is based.

The Rhodes group includes Tom and three of his five children – Dan, Burton and Thomas – and two non-relatives who were adopted into the family, Neil Broussard and Nina Sachse.

Tom, Dan, Thomas and Burton Rhodes, Neil Broussard and Nina Sachse

Twenty-one members of the Rhodes family have just returned from vacation and wasted no time getting back to work. In fact, they were making deals between family meals in the Texas Hill Country. This work ethic, after all, is spelled out in the Rhodes Rules.

And we get it, it’s a Father’s Day story, but patriarch Tom Rhodes tells us there’s a reason his children have such strong moral and ethical character.

“I give 110% credit to [their mother] Suzy Rhodes,” he said.

Take care of business

Thomas Rhodes, Rhodes’ penultimate child, recalls an early incentive to do good business and put the customer first.

“When I was a kid, we had two phones [land] lines at home,” Thomas explained. “The first line was the family phone; line two was the work phone. People would call and say, ‘I’m trying to reach your dad about real estate.’ »

The family patriarch missed most of those calls because he had five children. So he told the Rhodes children that he would give them 3% of what he earned if they brought him the number or name of someone he hadn’t worked with before.

Young Thomas responded when the buyer of a $2.2 million home came online.

“I think I bought a bass guitar,” Thomas said. “It was very fun.”

Now 44 and a father of three sons, Thomas has worked in real estate in one form or another since 2000, following Rhodes rules even when he wasn’t working alongside his father.

“I like helping people,” he said. “I grew up watching my dad do business. I think the best part of real estate is closing deals, especially when they’re hard to close. When you win a deal for your client, it’s very rewarding.

Brother Burton Rhodes, the middle child, was the first of the sons to join the family business. He went to work with his father after his job at Anderson Technologies in San Francisco ended and the dot-com craze hit.

“There were 10,000 guys like me looking for jobs,” Burton said. “My dad always told us that we had to find something we loved to do and that we would never have to work again. One hundred percent we had the choice to go work for him or not. I told him I would do it temporarily while I looked for another job. It was 21 years ago. »

Burton Rhodes was listed among Magazine D‘s Best Real Estate Agents in Dallas every consecutive year since 2005.

“I never thought I would work for my dad,” Burton said. “In 2000, it was just me and Neil Broussard working in my father’s house. I watched my father work as hard as I have ever seen anyone work in this trade. He told me that I was going to do exactly what he had done. We woke up at 5am and went to SMU and swam. At 6:30 I was ready to take a nap, but we cold called for two hours. It was real sales work. It’s like training with an expert runner. They have been running marathons for years. He taught me how to be self-motivated, create a schedule, and get the job done that needs to be done.

Family first

Tom Rhodes grew up in Highland Park and is now semi-retired. He said he was proud of his boys Dan, Burton and Thomas, and what each of them brings to the business. Dan is the administrator, Burton is an IT expert, and Thomas leads the sales team.

“They get along well with people, respect their clients’ wishes and listen to what people say. That’s probably their biggest asset, that they’re really good with people,” said Tom Rhodes.

His own father came through the Great Depression and worked hard.

“He struggled. He was very frugal,” Tom Rhodes said of his father. “Dads back then were good dads but you didn’t see them much. They never went to events. Now you go to a 5 year old’s football game and there are 15 or 20 parents there. My dad said, ‘You can do whatever you want as long as you can cycle there.’ »

Tom Rhodes learned the honor code of not lying, cheating, stealing, or condoning those who do, while a student at the Virginia Military Institute.

He started working in real estate in 1976, got his first big commission – six months’ salary on his first sale – and told his wife Suzy he was dead and gone to heaven.

“It can be a really fun business,” he said. “There’s nothing better than someone coming to you and wanting something, then you’re exactly what they want. Everyone walks away from the fence feeling good.

Father knows best

A theme among all of the Rhodes family members, even the “bookend” kids – eldest Courtney and youngest Patrick – who don’t work for the family business, is that family comes first. Real estate can be a tough business, but the Rhodes Group can lean on each other. They treat each other well and this practice extends outside of the family, earning them a reputation as some of the best in the business.

“Sometimes when a family is involved, there’s a level of trust,” Burton Rhodes said. “Maybe it has to do with how we’re all in this together as a band, and we’re all going to be in it for you. We want to make sure we do well with the people we work with. My father says there is nothing more important than our reputation.

Thomas says that whenever the family gets together, they talk about real estate deals “or tease my dad.”

“He claims to be semi-retired but he has this farm and he keeps buying houses,” Thomas said with a laugh. “One of the coolest things about my dad is that he used to knock on doors. He taught me how to do that. You get a lot of no’s when you knock on doors, but that’s okay. He There’s $20,000 behind one of these doors. You just have to find out which door it is. I went from Abbott to Harvard, knocking on doors. My speech was, “Hi, I’m call Thomas Rhodes. I was just curious if you know anyone who wants to sell their house. A man answered the door and said, “I want to sell my house. I didn’t know what to do after this, but I ended up selling the house. Whenever I don’t know what to do, I call my dad. He’s done thousands of transactions, so he knows what to do.

Rules of Rhodes

So what are the remaining Rhodesian rules the family lives by?

Talk less, listen more; love what you do; be nice, do your homework; know your neighbours; play hard but play fair; ask how you can help.

It is easy to see how these principles are emulated in the daily activities of the Rhodes Group.

“He’s so big on reputation, and he forced it on us,” Thomas said of his father. “The most expensive thing you will lose is your reputation, and you will never get it back. He taught us that an acceptable answer is “I don’t know”. He taught us to be quiet. He doesn’t like bringing people into a house and showing them where the master bedroom is. They can understand that. He’s really good at stepping back and not being the center of attention. That’s what we try to imitate.

Burton, too, uses the rules of Rhodes in his daily life. While the brothers are “extremely candid” with each other at work, they don’t let anything get under their skin in the long run, he said.

“[Real estate is] hard work. I think when you get good, it becomes incredibly easy work,” Burton said. “You’re just trying to solve a problem or help people. My father has always been our true north. He’s less involved now than he used to be, but at some point you’ve taught your kids everything they need and you can step back. He is truly at the heart of what we stand for.

RHO-6 Rules Mech Final by April Towery

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Mindfulness as a strategy for your real estate business — RISMedia https://joshadamsrealtor.com/mindfulness-as-a-strategy-for-your-real-estate-business-rismedia/ Fri, 17 Jun 2022 05:19:44 +0000 https://joshadamsrealtor.com/mindfulness-as-a-strategy-for-your-real-estate-business-rismedia/ Real estate professionals understand the importance of support, but support comes in many forms. Often overlooked in the industry, mindfulness and self-care can seem like buzzwords with no real purpose in an agent’s professional life. But focusing on your own well-being can help you better serve your customers and your business. What is Mindfulness? Mindfulness […]]]>

Real estate professionals understand the importance of support, but support comes in many forms. Often overlooked in the industry, mindfulness and self-care can seem like buzzwords with no real purpose in an agent’s professional life. But focusing on your own well-being can help you better serve your customers and your business.

What is Mindfulness?

Mindfulness is a practice that allows you to focus on the present moment, reducing stress and decreasing burnout. These methods come in many forms, all centered on one thing: dedicating time to your well-being. They can be a powerful tool for agents looking for a better work-life balance, which, in turn, can support professional development.

Mindfulness Matters

The “always on” lifestyle of a real estate agent can make it difficult to disconnect from work. Being stressed hurts your productivity, and in a high-pressure field like real estate, stress is a near guarantee for many.

Consider the oxygen mask analogy: you have to put the mask on yourself first before helping others. As an agent, it may be necessary to put personal matters and relationships on the back burner and prioritize business needs. But the benefits of mindfulness are clear, with studies showing that mindfulness meditation can improve cognitive function in as little as two weeks. Implementing these practices into your business strategy is probably one of the simplest forms of professional development available.

Practicing mindfulness allows you to replenish your own emotional reserves so you can handle transactions with empathy and understanding. If you focus on promoting mindfulness and self-care in your own life, you’ll be better equipped to help customers navigate the ups and downs of the market.

Reframing the customer experience

Mindfulness can help you reframe the customer experience, preparing customers for potential obstacles in advance. Consider the following situations:

  • A buyer worries about lack of inventory and increased competition. By guiding your client through the situations they are likely to encounter and discussing strategies before problems arise, your client will be better prepared for hiccups and better able to approach issues with insight and clarity.
  • Gently conveying information to sellers can feel like a personal critique rather than a professional view. Being candid in an intentionally positive way benefits customers, and understanding that emotional responses from them are not an attack on your abilities as an agent are two ways mindfulness supports the sales process.

If you’re looking for a new professional development resource, consider adding mindfulness or self-care practices to your list. Partnered with the right brokerage support and professional development opportunities, mindfulness practices can put you on the path to the business you want and deserve.

Nishika Green is the broker for the HomeSmart brokerages throughout Maine and the DMV area (Washington, DC, Maryland, Virginia). She was named to the National Association of REALTORS® 30 Under 30 List in 2002 and has hands-on experience in the industry, ranging from training agents to supporting top producers to doing business. to be a broker/owner of your own business.

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More people are getting into real estate – Oswego County Business Magazine https://joshadamsrealtor.com/more-people-are-getting-into-real-estate-oswego-county-business-magazine/ Sun, 12 Jun 2022 00:25:25 +0000 https://joshadamsrealtor.com/more-people-are-getting-into-real-estate-oswego-county-business-magazine/ By Ken Sturtz New agents, attracted by a hot market and flexible working, are flocking to the real estate sector Chelsea Dykeman has always had a passion for real estate. Her father bought and sold investment properties and her family moved many times when she was little. As an adult, she still enjoys the feeling […]]]>

By Ken Sturtz

New agents, attracted by a hot market and flexible working, are flocking to the real estate sector

Chelsea Dykeman has always had a passion for real estate. Her father bought and sold investment properties and her family moved many times when she was little. As an adult, she still enjoys the feeling of moving into a new house or visiting a nice house.

So when the COVID-19 pandemic hit in 2020, forcing her family to shut down the pawnshop business she worked for, she set out to achieve a long-held goal: get her real estate license.

“It’s something I’ve always dreamed of doing and it took a very scary situation for me to have the opportunity to pursue it,” Dykeman said. “You have to have time to focus on it and I never really did, until closing time.”

Dykeman obtained his license in the summer of 2020 and began working with Howard Hanna Real Estate Services in North Syracuse.

She wasn’t the only one who decided the time had come to become a real estate agent.

The pandemic has caused an exodus of workers from countless industries, but real estate has been an exception. New agents have flocked to the profession, lured by the promise of a hot market, flexible hours, the ability to work from home and the relative ease of entering the field.

The National Association of Realtors reported 1,372,312 members in the United States as of March 2020. Two years later, the group has about 159,000 additional realtors in its ranks.

In 2020, Chelsea Dykeman decided to achieve a long-standing goal: to obtain her real estate license. In 2021, her first full year as an agent, she said she made $3 million in sales.

In central New York, the number of real estate agents jumped 12%, from 1,707 people in April 2020 to 1,915 in April 2022, according to the Greater Syracuse Association of Realtors.

When Dykeman made the decision to start online classes to prepare for her licensing exam, the 28-year-old didn’t know if she was embarking on a new career or a side gig. After all, she had been working full-time in her family’s pawnshop business for years and at the time they expected to be closed for just a few weeks. She finished her courses in a few months.

When she started with Howard Hanna that fall, Dykeman entered a real estate world that was still recovering from being turned upside down earlier in the year.

In such a tight market, it was difficult to help buyers find the right home. Sometimes she couldn’t bring in potential buyers to view the homes or there were strict restrictions and protocols. Dykeman said she sometimes felt like the sky was falling, but she handles stress well and it likely helped her look past the chaos at the time and focus on growing her business. .

His efforts paid off. In 2021, her first full year, she logged $3 million in sales and won a rising star award from Howard Hanna.

Dykeman said she had a large extended family that helped her find clients when she started. She also focused on her social media presence. If someone sees one of her posts on an ad, they may not take any action, but she says if he needs an agent in the future, he’s more likely to contact her. contact.

Dykeman also took advantage of his in-laws wanting to sell their house and downsize. They waited for her to get her license and become her first customers.

She said that if not for the pandemic, she might not have made the decision to change careers.

“Honestly, it was the best decision I’ve ever made,” she said. “I was able to finally focus on getting this license and I had a great career because of it.”

The influx of new real estate agents in central New York has not escaped the notice of seasoned real estate agents and brokers. Teri Beckwith, an agent for Hunt Real Estate in Clay, said that when an industry seems to be booming, it’s natural for those not in the business to want to get in on it.

“I’ve had more people approach me in the past two years about becoming a real estate agent than I’ve ever had in 26 years,” Beckwith said.

Bill Galloway, owner of Century 21 Galloway Realty in Oswego, said he’s had his busiest year since getting into the real estate business decades ago. Its office, which includes two dozen agents, finished first in the state among Century 21 franchises in total units sold. But during the pandemic, he had several outlets, including a few retirements.

“I really had to replace them, so I started recruiting and now I have a number of new agents,” Galloway said.

While his new agents include a mix of backgrounds, Galloway said several of them are younger and want to start real estate careers right out of high school or college. While it’s not uncommon for agents to enter the field early in life, it’s something Galloway said he’s noticed is much more common among millennials.

“In the past, it was more like someone retiring from a career and looking to start a new career or someone who was between jobs and didn’t know what they wanted to do,” he said. -he declares.

Newcomers are drawn to real estate for a variety of reasons outside of a booming market.

With her boyfriend’s encouragement, Brooke Wills decided to become a real estate agent. In 2021, she made over $4 million in sales.

As many workers during the pandemic considered changing careers, real estate was particularly attractive in part because of the flexibility of the profession, said Chris Teelin, associate broker at Howard Hanna Real Estate Services in North Syracuse. Instead of having to report to an office each day from 9 a.m. to 5 p.m., officers can work from home if they wish and decide on working hours, he said. Some officers have taken advantage of the flexibility to reduce child care costs.

The investment of time and money required to enter the business is more modest than in other careers. And individuals can complete the necessary courses online at their own pace and according to their work and family commitments.

“Most people have the ability to get their license,” Teelin said. “It’s within their reach.

Building a successful business is another matter. One of the long-standing challenges of getting into real estate is that it usually takes a long time to get established before someone can actually start reaping the benefits, Teelin said. This can be especially difficult if a new agent has no other source of income when they start.

Joining an organization that trains new officers properly can make a big difference, he said. An office that makes a point of teaching the fundamentals to its agents will allow them to be operational sooner and to concentrate on prospecting for clients.

One of the best tools for someone new to real estate is social media, especially if that person has a strong social media presence that they can leverage.

“It’s a surefire way to at least get a head start in real estate,” Teelin said. “And a lot of people coming in are younger and have grown up on social media, so that’s to their advantage for sure.”

Brooke Wills said the idea of ​​going into real estate never crossed her mind until her boyfriend offered it to her. He owns two rental properties that Wills had managed for him. He was impressed with the work she did and believed she would have a knack for real estate.

“He said, ‘Come on, I’ll pay to take your course,'” Wills said. “Honestly, I wasn’t really into it at first, but I’m so glad I took the course and did it because I love being a real estate agent.”

She spent a year working on her real estate license while working full time as a teacher’s assistant. Whenever she had free time or a day off, she cut back on her online classes. It was the last thing she expected to do. The 25-year-old had studied human development at university and planned to go into social work before starting work in a series of child care centres. She had also considered returning to school to become a teacher.

After getting his license, Wills started with Century 21 Galloway Realty. In 2021, she made over $4 million in sales, placing her among the few dozen Century 21 agents in New York State. She said she found many clients through an extensive network of friends and family as well as social media.

Wills also made a point of learning as much about the real estate industry as possible, taking as many training courses offered by Century 21 as possible. Beyond that, she said she worked hard to prospect new clients through social media and networking. Persistence also helped. Wills stayed in touch with some clients for over a year before finally putting their home up for sale.

“You can’t just sit back and hope business comes your way,” she explained. “It doesn’t work that way and a lot of people think it does.”

Beckwith agrees that real estate agents, especially new agents, need to be motivated and disciplined to be successful. She said the booming real estate market has fueled the perception that it is easy to pursue a career as an agent.

“I hate to say it, but once this breaks out and things stabilize a bit more, there will be people leaving the industry,” she said. “Unfortunately there is a huge failure rate, but I think that’s true for any sales job.”

Beckwith said whether or not a new agent is successful over the long term doesn’t depend so much on how the real estate market changes, but rather on the individual agent and their willingness to put in the effort to grow their business.

Sitting around and waiting for referrals won’t be enough, she says. New agents need to make connections and take advantage of available opportunities, like learning from the best agents. They must constantly work to promote the listings they have and generate new business.

“These are the agents who will succeed,” Beckwith said. “Agents who are just waiting for the phone to ring won’t.”

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5 Tips to Market Your Real Estate Business and Reach More Clients https://joshadamsrealtor.com/5-tips-to-market-your-real-estate-business-and-reach-more-clients/ Tue, 07 Jun 2022 19:00:00 +0000 https://joshadamsrealtor.com/5-tips-to-market-your-real-estate-business-and-reach-more-clients/ Opinions expressed by Entrepreneur the contributors are theirs. From Sarasota and Naples, Florida to Hilton Head, South Carolina; South Hampton, New York; Austin, TX; Prescott, Ariz.; San Luis Obispo, CA; and many other cities, the luxury real estate market is booming. Picture-perfect sunsets, white-sand beaches and the lure of the great outdoors attract high-end market […]]]>

Opinions expressed by Entrepreneur the contributors are theirs.

From Sarasota and Naples, Florida to Hilton Head, South Carolina; South Hampton, New York; Austin, TX; Prescott, Ariz.; San Luis Obispo, CA; and many other cities, the luxury real estate market is booming. Picture-perfect sunsets, white-sand beaches and the lure of the great outdoors attract high-end market buyers, including affluent Gen Xers and baby boomers looking for second and third homes and Millennials with money to spend.

Here’s how you can increase your market share at this end of the real estate market and add more clients to your real estate business.

1. Define the ideal client

As with any marketing strategy, you need to know who you want to target. The first step in the process is to define the general characteristics of the group. While it’s important to consider each individual’s unique personality, understanding the characteristics of the group will help you define your marketing strategy. This includes the media (brochures, advertisements, videos, events, screenings, social media, etc.) you use to reach your target audience, the images you use, and the language and tone of your content.

2. Make a list of the type of clients you want to work with

A wide range of affluent clientele make up the luxury real estate market. This includes technology entrepreneurs from established companies and start-ups, individuals from the entertainment industry and senior executives from the financial sector, as well as sports and other personalities. Decide if there is a specific niche you want to target, such as new or experienced buyers, international buyers or environmentally conscious people, for example. Consider other factors like home price range and type of homes (low-key or opulent) that will suit your buyer profile. Knowing this will help you in how you go about networking and marketing to the people you want to work with.

Related: 8 Types of Customers and How to Deal With Them

Ask your team (or hire an assistant) to help you target your marketing materials and ads to people whose behaviors and interests match the types of customers who can afford the high-end properties you represent in places specific.

3. Build a sphere of influence

Develop contacts and generate leads from the network of people you know, including family members, friends, neighbors, coworkers, associates, classmates, and social connections. Contact and build relationships with family offices and consulting firms that manage the wealth of wealthy clients. The wealthy invest in real estate and could become potential customers in the future. Find out about each person in your sphere of influence and stay in regular contact with them.

Plus, network with other real estate agents who can help connect you with buyers and sellers.

Related: 6 Ways to Build Strong Business Relationships on LinkedIn

4. Establish a consistent local presence in your newspaper

Although it may seem old-fashioned, having a consistent presence in your local newspaper by prominently displaying your business name and advertisements works. Spend the money to place an ad on a color, full-page or double-page ad regularly so you can make sure people see it when they flip through the paper. Not only will this help you entice buyers to check out the listing, but your consistent presence in the newspaper will build your experience and credibility in the marketplace.

Additionally, reach out to high-end local publications (print and digital) to showcase your business. Offer your real estate expertise and write useful articles for buyers and sellers.

5. Use your digital fingerprint

Perform an audit of your website. Has the website design been updated recently or have you just added new ads? If you haven’t updated your site in the past two years, now is the time. Hire a professional to create a beautiful, contemporary, user-experience-driven, cutting-edge website that reflects who you are, your experience and your successes (i.e. showcasing previously sold properties ), your staff, and the places and properties you currently represent.

Make sure the website shines on mobile devices as well, as everyone is connected to their phones 24/7. Hire a content writer to tell your story compellingly. Include videos, press releases and features. Let your customers sing your praises through testimonials.

Make sure the property search tool on the website is segmented by product (location, price, square footage, and other filters), easy to use, and delivers the expected results.

Write a blog on relevant topics of interest to affluent clients. Leverage social media to grow your followers and sphere of influence and to market your properties. Assign someone to keep your website, blog, and social media platforms continually updated and fresh.

Focus on growing your email list. It’s much faster and easier to reach out and connect with people or announce a new property via email dispatch. Overseas clients, partners, developers and luxury real estate agents can click a link in the email to view the property on your website or via a digital storybook you’ve created.

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3 steps to recession proof your real estate business https://joshadamsrealtor.com/3-steps-to-recession-proof-your-real-estate-business/ Mon, 06 Jun 2022 07:27:52 +0000 https://joshadamsrealtor.com/3-steps-to-recession-proof-your-real-estate-business/ The market is changing. NAR predicts home sales will drop 9% this year. Fannie Mae predicts a “modest recession” on the horizon in 2023. The inflation rate is at its highest level in 40 years. While economists point out that we are not heading into another 2008, we seem to be over the days of […]]]>

The market is changing.

NAR predicts home sales will drop 9% this year. Fannie Mae predicts a “modest recession” on the horizon in 2023. The inflation rate is at its highest level in 40 years.

While economists point out that we are not heading into another 2008, we seem to be over the days of every home on the market receiving double-digit non-contingent offers.

The good news for dedicated agents is that a weaker market can be a great time to gain market share. Greener part-timers tend to drop out of the industry when the going gets tough.

It is possible to exit a bear market stronger than you entered it, but only if you have taken the time to plan for it. Here are three steps you need to take now so you can approach the changing market from a position of strength.

Reorganize your business plan to focus on the pipeline

First, you need a business plan. Too many agents are throwing different strategies at the wall, hoping something will stick. But it’s an inefficient way to run a business.

Cathy Trevino

The most effective way to achieve your goals is to a) write them down and b) create a detailed plan of the steps you will take to achieve them.

Second, building a pipeline should be the main focus of your business plan for the rest of this year.

“So many agents haven’t followed their marketing or hit their spheres,” said Cathy Treviño, Texas chief broker at Side and president-elect of the Houston Association of REALTORS®. “It may have worked when houses were flying out of MLS, but agents who don’t double down on lead generation, marketing and connecting with their spheres are going to struggle in a slower market.”

The market has been so hot for so long that it might have been a while since you made a real investment in strengthening your database. Now is the time to change that.

“Take a hard look at where your leads are coming from right now,” said Donnie Pingaro, chief broker for Side Florida and AREAA’s 2024 national president-elect. -this. Stop spending on tactics that you can’t prove help generate revenue. »

Automate and outsource low value-added tasks

Donnie Pigaro

Once you have a solid business plan tailored to the realities of this market (i.e. building your pipeline), identify the most important activities you will need to complete to achieve your goals.

Then identify which of these activities you can automate or outsource to someone else.

“You need to focus on working $300/hour, not working $20/hour,” Donnie said. “And the $300/hour job, the most valuable thing you can do with your time is connecting with your customers — not posting on social media or sending postcards.”

So many agents lack practice in deceptively simple tasks that become essential to success in a slower market, like keeping your seller informed of the status of their listing. This is why it is essential that you take the time to streamline your back office (i.e. all the administrative work) so that you can be prepared to spend more time in your front office (interacting with customers) .

Find a support network

To thrive in a bear market, you need to be creative, resourceful, and open to new ideas. And ideally, you’ll have a community of like-minded agents in your corner to support you.

Nicole Solari

“It’s so important to be in an environment where everyone knows they’re in this game together and are willing to help each other out,” said Nicole Solari, Founder of Level Up Realty. “I can’t tell you how many people from Side’s partner community have come up to me and said, ‘Hey, you’re doing a great job. How can I help you with your business?’ And especially when the market is slow, this collaboration makes such a difference.

This process will be different depending on where you are in your career. This could mean joining a highly productive team and being mentored by an expert who has already thrived on market changes. Or it could mean doubling down on continuing education, seeking out mastermind groups, and committing to making more connections at industry events.

If you don’t have a group of agents you can turn to for advice and empathize with when the going gets tough, let yourself be guided to find one.


About the side
Side is a behind-the-scenes brokerage platform that partners exclusively with the most successful independent agents, teams, and brokers to create and grow their own boutique brands without the cost, time, or risk of running a broker. Side’s proprietary technology platform and best-in-class support solutions enable its agent partners to be more productive, grow their business, and focus on serving their customers.

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15 real estate business ideas https://joshadamsrealtor.com/15-real-estate-business-ideas/ Tue, 31 May 2022 10:00:38 +0000 https://joshadamsrealtor.com/15-real-estate-business-ideas/ As an entrepreneur, you are always on the lookout for new opportunities and small business ideas for beginners. So when it comes to the real estate industry, why not explore all the different possibilities? What is a real estate business? A real estate business helps people buy, sell or rent properties. It can also be […]]]>

As an entrepreneur, you are always on the lookout for new opportunities and small business ideas for beginners. So when it comes to the real estate industry, why not explore all the different possibilities?



What is a real estate business?

A real estate business helps people buy, sell or rent properties. It can also be managing or investing in houses. Usually a real estate business needs a license to operate.

The real estate market in 2022

Real estate demand is strong and will likely remain high in 2022, experts say. Homes for sale have received around 3.8 offers to buy heading into 2022, up slightly from a few years ago.

Why should you consider starting a business in the real estate industry

If you are looking for an exciting and rewarding career in an ever-changing field, the real estate industry is worth considering! With so many real estate business ideas available, here are 5 reasons why you should get started:

  • Strong demand. The real estate market is growing rapidly, and there are plenty of opportunities for real estate professionals who are ready to invest.
  • Earn a good income. The market is booming and there are many ways to make money in the industry like property management and development.
  • Be your own boss. If you don’t like working for someone else, real estate is a great way to be self-employed. You can set your schedules, work from home and control your career.
  • Help people achieve their dreams. One of the best things about working in real estate is that you help people find their perfect home or investment property. It’s a very rewarding feeling to know that you’ve helped someone achieve their dreams.
  • Demanding and constantly evolving industry. The real estate industry is constantly changing, so you will never be bored. There are always new challenges to overcome and new opportunities to explore.

Best Ideas for Real Estate Businesses

We’ve compiled a list of 15 great real estate business ideas to get you started. Whether you’re a seasoned real estate professional or new to the real estate industry, you’re sure to find something that piques your interest.

1. Realtor

A real estate agent is someone who helps people buy and sell homes. The selling process can be complicated and a good agent will guide their clients through every step of the process. we won’t discuss how much do real estate agents earn in this article, but it’s a lucrative market, and good real estate agents can make a lot of money.

2. Real estate photographer

This craft can be a lot of fun. It’s a great way to meet new people and discover new places. And, of course, it’s always exciting to see your photos printed.

3. Manage rental properties

This idea is to manage houses like single family homes, apartments or other rental properties. It’s a great career for someone who enjoys working with people and helping them solve problems.

4. Commercial Property Management

There are always companies looking for someone to manage their commercial properties. It can be a very challenging and rewarding career for someone with good management skills.

5. Real estate investor

Many people think that being a real estate investor is about making a quick buck. The reality is that many real estate investors are in it for the long haul. They plan to buy properties that will generate passive income and appreciate over time.

6. Real estate brokerage

This is a real estate company that helps people buy and sell properties. This can be a very profitable business, but it’s important to have a good understanding of the housing market.

7. Real Estate Marketing Agent

A real estate marketer is someone who creates and implements marketing plans for a listing of properties. They work with agents and clients to create a strategy that will generate the most interest in a property.

Read more: 30 real estate marketing tips

8. Property appraisal service

Appraisal Service is a company that provides real estate appraisals. These appraisals are used to help people determine the value of a property for various reasons, such as insurance or to estimate taxes.

9. Property Flip Business

Successful investors in this sector can make a lot of money by buying low and selling high. Since you don’t need a lot of money to get started, flipping is a great way to enter the real estate market.

10. Property developers

Real estate developers buy land to develop it into something else, such as a new housing development or a shopping center. Many developers specialize in raw land, that is, undeveloped land that has not yet been built on.

11. Real Estate Blog

Not only will you be able to generate income through advertising and affiliate marketing, but you will also boost your social media presence. It’s a great way to get exposure and attract new customers.

Read more: 30 Worpress real estate themes for real estate agents

12. Property inspections

Home inspection companies are in high demand. They ensure that the buyer gets what they paid for and that the seller discloses all information about the property.

13. Landscaping company

These companies offer services related to the design and maintenance of outdoor spaces. This includes everything from planting trees and shrubs to mowing lawns and installing irrigation systems.

14. Cleaning service

This company provides cleaning services to its customers. This can include anything from house cleaning to office buildings. It’s a great company for someone who is organized and enjoys working with people.

15. Home staging service

Starting a home staging service can be a great way to earn extra money, but it’s also a very rewarding way to work. Home staging is all about making a home as attractive as possible to potential buyers. This can be done by rearranging the furniture, adding accessories or even painting the walls a different color.

What type of business is best for real estate?

It depends on individual goals and experiences. Someone who wants to help people find their dream home may be in a better position to work as an agent.

However, someone with experience building and developing may be better suited to become a developer.

The most successful real estate business is the one that best matches the skills and goals of the individual.

What type of property brings in the most money?

If you want your real estate business to remain profitable, you need to focus on properties that generate positive cash flow. To have a profitable business, you will need to find properties with high rental rates or by developing properties that can sell for a high price.

Image: Depositphotos


More in: Develop an idea


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How to boost your real estate business https://joshadamsrealtor.com/how-to-boost-your-real-estate-business/ Wed, 25 May 2022 07:00:00 +0000 https://joshadamsrealtor.com/how-to-boost-your-real-estate-business/ Real estate is a huge market that can sometimes seem crowded. You need to know how to navigate the sea of ​​agents with proven growth strategies if you want to grow your business and stand out. If your motivation for starting a real estate business is primarily to make a profit, you’ll need these effective […]]]>

Real estate is a huge market that can sometimes seem crowded. You need to know how to navigate the sea of ​​agents with proven growth strategies if you want to grow your business and stand out.

If your motivation for starting a real estate business is primarily to make a profit, you’ll need these effective realtor strategies to maximize your current earnings and create additional revenue streams.

Look for hidden off-market properties

If you don’t find real estate deals before other businesses, you will have a hard time profiting from your business.

Properties that can generate income are not those that are foreclosed or listed on popular real estate websites. It is they whose owners are in a hurry to get rid of them as soon as possible.

These pocket properties could belong to anyone who no longer needs them if they are, for example, traveling or in financial difficulty.

Image: Unsplash

They could also belong to divorcing couples who need money fast but cannot sell through traditional channels because it takes time. These are properties with a “For Sale by Owner” sign in front of them (FSBO).

The objective of buying off-market or “pocket listing” properties, as they are sometimes called, is to buy below market value.

This means that you can save and earn more money at the same time thanks to properties such as the return on investment (ROI) would be high.

How to find off-market properties

  1. Make your presence known – Participate in a business network or a club. Let your networking community know your name and what you do so they can think of you first when they need the kind of service you provide. Your ears should stay open because acquaintances, relatives and a network of friends may approach you on their own behalf or on behalf of someone related to them.
  2. Connect with estate lawyers because they know people who are looking for quick access to money. As a result, these creditors have a greater propensity to sell at a lower price.
  3. Wholesalers are good traders because they buy cheap properties that need to be repaired. Connect with them as they quickly buy and sell these properties as they become available. You can take advantage of the lack of patience of wholesalers to procure real estate.
  4. Take advantage of auction sites – There are many properties available at low prices and they are listed on auction sites. Consider checking out a few of them. Since the properties in question have been foreclosed for a considerable time, the banks currently own them.

Create the idea of ​​a house

powerful buildings 3d printed house
Image: Powerful Buildings

The staging of the home you want to sell makes a big difference. Consider walking past a clothing store and seeing a cute dress on a mannequin.

You’d probably see yourself in that dress with your best shoe on, and if you had the cash on hand, you’d probably go out and make a purchase.

This is true whenever a potential buyer visits a properly staged property. It piques their interest in what life would be like if they lived there.

The customer’s heart might not be moved by the photographs of the property if the rooms are empty.

When marketing an empty home, you will find it difficult to make that killer impression on potential buyers. When customers see such properties, they are quick to pass judgement.

Homes that have been staged are also estimated to sell for an average of 33 days, unlike those that have not been staged, which take an average of 196 days.

Customers start their search for homes online, especially on free real estate social media posts, to see the best deals they can possibly get.

If you’re having trouble selling an empty house, consider putting furniture in it to bring the concept of the house to life in the minds of potential buyers.

Pass the broker’s exam

To be taken seriously as a qualified real estate agent, you must pass the state-mandated exam. This exam qualifies you to sell real estate as part of a large business or as an independent real estate agent.

This test takes a few months. With the trial license, you can only work as an independent agent or for a company. You cannot open your own firm and hire other agents. Only a broker can do that.

When you have passed the broker exam, you are free to start your own practice. This entitles you to a 20-50% commission from the real estate agents who work in your firm. You would be sure to make money as a broker.

Go back

Many real estate agents use this strategy to increase their income and that of their clients. Flipping involves buying a property, repairing it to increase its value, and then reselling it for a higher price.

The profitability of this approach lies in the flipping of several houses rather than just one. For this strategy to work, you need to buy a house at a discount and factor in the cost of repairs. This is to avoid the risk of flipping a high value home, where the return on investment is not spectacular.

At this point, an experienced agent will outperform a rookie. The foreclosure market is a great place to find a property to flip.

It would help to decide if the property is worth it if you had a better understanding of the After Repair Value (ARV) of the property you are considering buying.

You can get an idea of ​​what to expect by looking at some statistics regarding recent home sales values ​​in this neighborhood. You also have the option of seeking the assistance of a real estate agent in this endeavor.

You can also avoid having to flip the house by buying it wholesale and then reselling it immediately. It’s a strategy.

social media apps on smartphone
Image: Unsplash

Because billions of people use social media, it’s a great platform for generating leads.

Your chances of closing deals will increase with more people viewing your ads. The more transactions you make, the more money you will earn in your business.

You can build your brand identity online and drive traffic to your ads and personal brand with the help of social media platforms like Instagram and Facebook.

You will be able to communicate with more people using social media than any other method.

You can run ads on social media to target a specific audience of buyers who may be interested in your ads. You have a wide variety of options when using social media.

Use direct mail

This proven strategy is still effective and generates the same return on investment (ROI) as social media marketing.

The response rate for direct mail is significantly higher. It has a very competitive cost per acquisition, surpassing many other digital channels in this regard.

When it comes to response rate, format plays a major role in direct mail:

  • Catalogs have a 3.9% response rate
  • Oversized envelopes have a 5% response rate
  • Dimensional has a 4% response rate.
  • Letter envelopes have a response rate of 3.5
  • Postcards have a response rate of 4.25

Direct mail makes it difficult to track where prospects are coming from. That’s the only downside. A larger budget would be needed to track direct mail.

Because only a few companies use this strategy to target their customers, there is room for your business to stand out.

Focus on the rental market

You have the opportunity to capitalize on the demand for your property as a vacation rental during the time of year when tourists are in town. This could bring you additional income.

It is possible that you are going through an unpredictable and unpleasant period if the price of your rental is high during the low tourist season.

This is especially true if you have hired a property manager to oversee the management and maintenance of your rental properties. The cost would be high.

To keep your business relevant out of season, you need to lower the price of your property so that it can be rented out all year round.

If this concept does not appeal to you, take advantage of the high season to compensate for the fall in the off-season.

Some owners view vacation rentals as a major investment, despite the fact that they can be hard on their cash flow.

One vacation rental site noted that the average homeowner generates $28,000 by renting out their property on their site for 18 weeks of the year. This equals 75% of each year’s mortgage payment for them.

Before you or your client ventures into this market, it is imperative that you perform a thorough analysis of the costs of management, maintenance and repair services. This will allow you to get the maximum benefit from it.

Source of references

person typing on laptop browser
Image: Unsplash

It is the cornerstone of any business, especially real estate. That’s when companies come looking for you. Let your clients, past and present, know that you would appreciate it if they could recommend someone your way.

You also need to make sure that you are providing them with adequate service before you can ask them to recommend their friends, relatives, or anyone else who might need your services.

When your customer is satisfied with your service, they will be happy to return the favor by referring others to you.

Investing in real estate has the potential to be a very profitable business venture.

It is now seen by many people as a potential business that will continue to be very profitable even in the future.

If you put these strategies into action, your new business will get the boost it needs to succeed.

Do you have any thoughts on this? Let us know below in the comments or forward the discussion to our Twitter or facebook.

Editors recommendations:

Chris has been blogging since the early days of the Internet. It mainly focuses on topics related to technology, business, marketing, and just about anything tech-related. When he’s not writing, you can find him playing guitar or cooking up a nasty storm for his friends and family.

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5 Ways to Increase ROI in Real Estate https://joshadamsrealtor.com/5-ways-to-increase-roi-in-real-estate/ Tue, 24 May 2022 12:52:16 +0000 https://joshadamsrealtor.com/5-ways-to-increase-roi-in-real-estate/ If you are already in the real estate business, you are familiar with the term and meaning of ROI (Return On Investment). And because return on investment is crucial in any industry, and especially in real estate, it’s no surprise that business owners are always on the lookout for new tactics to maximize profits. So, […]]]>

If you are already in the real estate business, you are familiar with the term and meaning of ROI (Return On Investment). And because return on investment is crucial in any industry, and especially in real estate, it’s no surprise that business owners are always on the lookout for new tactics to maximize profits.

So, if you are ready to implement new strategies to boost the ROI of your real estate agency, you have come to the right place. This article focuses on five ways to help you increase your real estate ROI and take your business to the next level.

Be careful with your investments

As a business, you want to make as much money as possible while keeping your customers happy. When investing in a new property, always try to look for good deals and excellent return on investment potential.

Location is one of the key factors to look for when acquiring new real estate. As things stand, the value of real estate keeps rising and its driving force is a good location.

Some low cost listings may need some serious repairs, but if the location is good, as soon as the handyman is done fixing it, you can return it or rent it out easily for a big return on investment.

Use modern tools

Proper lead tracking and management is key to finding the right buyers and closing deals seamlessly. However, tracking all customer-related facets can be time consuming if done manually.

Nowadays, with the help of modern software such as CRM software, real estate businesses can automate many processes and increase ROI by getting the required data and using it properly.

With a CRM solution for your real estate business, you have access to customizable reports that will help you understand how often your agents are contacting your clients, get a clear overview of how many active listings you have, and use all the Additional Information. will enable you to provide a superior customer experience.

Always think of ways to be ahead of your competition so leads turn into sales.

Maintain your property

When you’re about to rent out a property, make sure it’s in top condition so tenants are completely satisfied. Also, it is important to find the right tenants because sometimes irresponsible ones can cause damage to your property, forcing you to spend more money on repairs.

Make constant renovations to your property to increase its value and pique the interest of high-paying tenants. Improvements can increase the functionality of your property and reduce overall expenses, further improving return on investment.

If you feel that your rental is not generating enough profit on a monthly basis, you can always sell it instantly if it is well maintained and invest in another property with a better return on investment potential.

Have a strong web presence

Your website is your customer’s first impression of your business, so make it a good one. If you don’t have a website that includes contact forms, active listings, social media links, etc., you can hire a professional designer or use a service like Weebly to create a website that will best represent your real estate agency.

Although it may seem like having the perfect website is the most important thing in the world, it won’t make sense if it’s hard to find on search engines. Organic searches are what will drive real estate profits forward. According to statistics, organic searches have a conversion rate of 3.2%.

So, consider working on various digital marketing strategies focused on organic growth, for example, search engine optimization.

Encourage referrals

Encourage your happy customers to attract new customers through word of mouth. If you provide superior customer service and help them find their dream home, they will surely recommend your services to their friends and relatives.

Always go the extra mile to make sure your customers are happy, follow up with them a few months after a deal closes, and ask about their experience with your business.

Final Thoughts

Increasing the ROI of your real estate business can be a daunting task. But if you take the right steps and are patient, you will definitely see improvements. Review our article and equip yourself with knowledge on how to increase the ROI of your real estate business.

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Marketing tips for your real estate business — RISMedia https://joshadamsrealtor.com/marketing-tips-for-your-real-estate-business-rismedia/ Wed, 11 May 2022 05:17:13 +0000 https://joshadamsrealtor.com/marketing-tips-for-your-real-estate-business-rismedia/ Editor’s Note: The following information is taken from RISMedia’s latest exclusive Premier report, “Social Media and Digital Trends for 2022and include excerpts from Section 1: Preparing for Success and Section 4: Where to Spend Social Media Marketing Dollars. In today’s real estate landscape, it’s crucial for real estate agents, brokers and brands to have a […]]]>

Editor’s Note: The following information is taken from RISMedia’s latest exclusive Premier report, “Social Media and Digital Trends for 2022and include excerpts from Section 1: Preparing for Success and Section 4: Where to Spend Social Media Marketing Dollars.

In today’s real estate landscape, it’s crucial for real estate agents, brokers and brands to have a strong presence in the digital space. Organizing a social media and digital marketing strategy will help ensure the success of your business, and knowing where to invest your marketing dollars, especially when it comes to your online footprint, is a big piece of the puzzle.

Planning a social media strategy is a great first step to getting your business noticed in the digital space. However, there are a few important things to remember when developing your plan to help your clients, prospects, and prospects know who you are not just as a real estate agent, but as someone they would like to work with. .

Premier members can access the full report here.

Authenticity, branding and curated content

Rajeev Sajja, VP of Digital Innovation at Berkshire Hathaway HomeServices Fox & Roach REALTORS®, says, “Authenticity will be key to building your brand. Sajja believes it is important for real estate professionals to recognize the influence they hold on social media, and their desire to keep improving will not only increase their sphere of influence, but lead to overall success. of the company.

Authenticity and branding are big buzzwords in this industry for a reason. Real estate is a face-to-face business and communication is vital. On social media, it’s important to remember that an online presence isn’t just about your current contact details and lists. Connect with your audience through comments and direct messages, share success stories and educational content, and be sure to use video as it can help illustrate your personality and generate more leads with the people who connect with you.

Your brand image is what helps you build trust and nurture relationships, and set you apart from the competition, whether you work for a national brokerage or represent yourself. Keep your website up to date, including photos, contact information, and inventory, and refresh your brand messages to represent your business, services, and goals.

Arguably the most important factor in a successful social media marketing strategy, your content pool should be filled with timely, relevant, and educational information. And in today’s real estate landscape, video content is a necessity for success.

According to the National Association of REALTORS®, video is the most powerful tool for realtors today. In fact, they cite a 403% increase in inquiries about ads featuring video, as well as 73% of owners saying they’re more likely to sign up with an agent that uses video content.

“Video is king these days,” says Emily Sarno, Field Social Media Specialist at Coldwell Banker Realty. “Agents will likely see 10% more engagement on video content than any other form of digital content.”

Whether you want to start a real estate podcast, host live Q&A sessions, or create short, unique videos on TikTok and Instagram, you’ll see higher engagement rates, growth in your social sphere, and more leads than never.

Expenses and budget

The best part about social media marketing is that you can benefit from it even if all you have to invest is your time. However, paid strategies always increase visibility. The challenge is knowing where your marketing dollars are best spent.

Maria Hill, vice president of marketing and communications at Berkshire Hathaway HomeServices Nevada, California & Arizona Properties, takes a specific approach when it comes to the company’s marketing budget. “Our marketing spend is 80/20 to 80% on digital marketing and 20% on print,” she says. “Digital marketing provides more exposure for less money.”

Of course, each agent, broker, and brand may take a different approach to spending. Marketing budgets include everything from print and digital advertising to staffing and collaboration. Additionally, now more than ever, real estate companies are engaging social media and digital marketing specialists, while investing in the right tools and solutions for their business.

Focus on your goals. This will help you find the most effective solutions and strategies for your real estate business, manage your marketing budget wisely, and ensure that the specialists and tools you bring to your business are the right choice.

Premier members can access the full report here.

To read this report, you must be a member of RISMedia’s Premier. Premier from RISMedia offers the exclusive insights and insights real estate professionals need to achieve unprecedented success, including investigative journalism, business development strategies, proprietary research and in-depth monthly reports like this . Gain a deeper understanding of complex industry trends through actionable breakdowns and actionable insights with RISMedia’s Premier Reports.

Click here to learn more about RISMedia Premier.

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Six Reasons Your Real Estate Business Needs a Tech Overhaul in 2022 https://joshadamsrealtor.com/six-reasons-your-real-estate-business-needs-a-tech-overhaul-in-2022/ Mon, 09 May 2022 10:13:00 +0000 https://joshadamsrealtor.com/six-reasons-your-real-estate-business-needs-a-tech-overhaul-in-2022/ The growth of technology has transformed the conventional real estate industry as customers demand smarter solutions while real estate businesses demand efficiency. The whole range of technologies for real estate business falls under the “PropTech” (Property Technology) label. It revolutionizes the way buyers connect with real estate agents for real estate purposes, whether building, buying, […]]]>

The growth of technology has transformed the conventional real estate industry as customers demand smarter solutions while real estate businesses demand efficiency. The whole range of technologies for real estate business falls under the “PropTech” (Property Technology) label.

It revolutionizes the way buyers connect with real estate agents for real estate purposes, whether building, buying, property management, home services, selling or renting.

Technology has always strongly influenced the real estate industry, but the past few years have witnessed several notable advancements. As a real estate business, these new technologies will affect the industry and significantly influence your life in 2022 and beyond, regardless of your role.

Here are the top six reasons why digital transformation is necessary for your real estate business in 2022.

#1. Get better ratings

A real estate agent in the field can fairly accurately estimate the value of a property, but new technologies like AI make it much easier to set realistic prices. It can help with property valuation by determining property rates using a “predictive analytics” algorithm. In this way, real estate investors can measure the growth of property values ​​and assess possible future risks, in addition to comparing real estate rates, among other things.

The accuracy of a property’s predicted sale price will improve as the ability to acquire data increases. Here you can think of integrating your CRM with data sources such as RP Data or PriceFinder that help you get reliable value estimates without leaving the current CRM environment.

#2. To take advantage of virtual reality

There is a common misconception that virtual reality is only useful for video games and entertainment. However, its use in the real estate sector is very undervalued.

Tenants and potential buyers can check out the property from anywhere using a VR-enabled virtual tour. Unlike images and videos, virtual reality offers an immersive experience that is both realistic and totally engaging.

You can integrate augmented reality and virtual reality into real estate in the following ways:

  • Virtual tours for a more advanced visualization of properties.
  • Use it for immersive real estate marketing to targeted buyers.
  • Enable accessibility through mobile and web apps.
  • Save your prospects time while giving them the opportunity to thoroughly check out their dream property.

Even before the pandemic, virtual reality was slowly being adopted by many real estate marketers. But, with the covid norms of social distancing and staying at home, virtual reality has become a need in the real estate industry.

Landlords and real estate agents are embracing virtual reality (VR) to show potential tenants and buyers the properties they offer while maintaining a safe distance.

#3. For effective marketing

As mentioned earlier, virtual reality and 3D tours have made it easy to get a sense of a property without ever setting foot on the premises. When you leverage these technologies for marketing your real estate business, you provide buyers with the convenience needed to buy a home. This will open up multiple additional ways to engage through technology-enabled marketing.

You can use it to provide buyers with personalized ads as machine learning and AI advances to target conversions. Leveraging many social networks and their targeting algorithms will allow you to better establish your brand. Additionally, you can use the CRM’s built-in marketing automation to help you generate more qualified leads at a lower cost.

Speaking of automation…

#4. To automate real estate operations

Long-term customer satisfaction is associated with the goods and services offered by any business. And the same is essential for its survival in the competitive real estate market. Automation can effectively track a customer’s lifecycle from prospect to resident or tenant with a sophisticated back-office operation.

A traditional method of managing real estate data is inefficient and time-consuming. But fortunately, there are technological solutions to help make these repetitive activities more efficient. There are several software choices available to help you manage marketing campaigns, appointments, your real estate portfolio, and other tasks.

#5. For smart home technology integration

Smart home technologies are transforming homes for good. Not only are smart gadgets like the Amazon Echo or Google Home being embraced by homeowners, but apartments and condos are now being built with smart home technology in mind.

Here are some smart home technologies your real estate business can leverage:

  • Smart security system
  • Smart TVs with CCTV access
  • App-based home lock access
  • Mobile app integration to allow/disapprove guest entry
  • Sensor-based lighting
  • Thermostats

If you can include some or all of the facilities mentioned above in a new build, buyers are more likely to opt for such properties. While you may think these options may appeal to new millennial buyers, that’s not the case because they may add convenience and add value to older buyers. Many middle-aged buyers are looking for a home fully equipped with smart technology to save time and enjoy a more comfortable lifestyle.

#6. Using blockchain to sell real estate via tokens

Many modern real estate-based blockchain platforms like Atlant, Brickex, Bloqhouse, and others can help boost real estate sales and liquidity. Some platforms go further than simply matching supply and demand. For example, it allows investors to sell their holdings in the fund and spread the real estate investment.

You can use blockchain technology in real estate to sell property tokens (stakes). Additionally, a blockchain can protect the ownership of the stake if there are agreements established through smart contracts. Additionally, blockchain can significantly reduce transaction costs by allowing investors to split their shares into smaller parts.

Here is how you can sell real estate via blockchain tokens:

  • Tokens represent the underlying value of real estate.
  • Investors can buy and sell tokens representing their stake in the property.
  • Blockchain technology can protect and reduce administration and sales expenses.

Wrap

In the near future, many large real estate companies will become more technologically advanced, which will propel industry-wide growth. Anyone considering a startup or making improvements to an existing real estate app should take this opportunity.

First, you can start by automating your back-office operations to collect data about your customers. There are simple customer relationship management (CRM) and property management tools you can subscribe to and start using right away.

As you collect more data, implement business analytics to check trends in your consumer behavior and analyze their interests. This will help you target buyers with the right properties and tailor your marketing efforts accordingly.

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