The Indian real estate market is quite diverse yet dynamic and competitive in nature, especially for real estate brokers. To carve a niche of success, it is quite imperative for brokers to understand the changing promotional scenarios of the developers and the preferences of clients. Having a knack to innovate and being open to new marketing ideas helps one to stay relevant and afloat in the market.
If you are looking forward to becoming a superstar commercial real estate broker, here is a 10-step guide:
1. Network to increase your net worth:
Even though commercial real estate broking is a traditional profession, if you want to tap more opportunities and convert them into success, networking is the key. Be in constant touch with your fellow real estate agents inquiring them about the latest market updates along with some tips and tricks.
If you do not specialize in a certain kind of segment, pass on the lead to them asking for the commission percentage that can be mutually agreed upon. Attend project launches and events, meet new people and stay in touch with your old clients who have deep pockets to invest in real estate properties.
2. Embrace digital technology:
As we mentioned earlier, the market is evolving at a very fast pace and you have to march ahead to set your cash registers ringing. Take optimum advantage of digital technology by building and having a constant online presence on various platforms such as Facebook, Instagram, Google My Business and LinkedIn to reach directly to your target market.
Promote your brand along with the projects assigned at the reasonable cost involved with a digital presence.
3. Be a consultant, not just an agent:
Rather than just weighing your prospect in commercial terms, go the extra mile and suggest to your client the property that will best suit his or her taste and requirement. This will help you build long term relationships and instill trust in the mind of your clients.
4. Be transparent:
It is very crucial to be transparent in all your dealings with the developer as well as the client to close the deal in an efficient manner. You will have to be very crystal clear in all of your communication with all the parties involved to win their acute level of trust beating the competition in the market.
5. Gain your expertise:
As we discussed earlier, the market of Indian real estate is quite diverse and versatile having a pie for everyone. But it is necessary for you to find your area of expertise, be it commercial or residential and further segregate it between luxury, mid-segment or affordable segments. This way, you will be renowned within the market and industry as a whole.
6. Never forget your old clients:
Now, this is very crucial and important as your old clients as your best brand ambassadors. If you have catered for them well, they will surely recommend your name within their social circle making you earn more referrals.
7. Gather market insights:
There are new project launches as well as new norms getting framed on a constant basis. It is significant to keep your eyes and ears open to find out what’s happening in and around your domain as developers and clients also look up to you as an industry expert.
8. Ask for referrals:
Never shy away to ask for referrals from your existing clients. It will help you to network and grow your business within an environment that is ever competitive and dynamic in nature.
9. Go an extra mile:
Always go the extra mile to offer excellent customer service to your clients. It can be gifting a small present on the occasion of their housewarming or helping with the contact numbers of plumbers and other technicians that will ease out their domestic chores.
10. Build a brilliant team:
With gradual growth and success, you will need more minds and hands to help you. Over a period of time, build a brilliant and efficient team that will help you accomplish your business objectives.
Even though the real estate brokerage business is traditional, it is evolving at a quick pace and is an integral part of the industry. If you think that it is the right match for your professional life, dive into it.
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