MISTAKES: A BIG ‘NO’ IN REAL ESTATE INDUSTRY

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MISTAKES: A BIG 'NO' IN REAL ESTATE INDUSTRY
MISTAKES: A BIG 'NO' IN REAL ESTATE INDUSTRY

Mistakes are something which can be committed by anyone. Sometimes, their impact is negligible but at times they may prove to be fatal. Thus, it is always recommended to take precautions and avoid such mistakes. Especially, in an industry like real estate, where there is cut-through competition, committing mistakes may cost any real estate agent trucks of money. Therefore, as it is always said, prevention is better than cure, here we bring you some commonly committed mistakes which should be avoided by a realtor (and don’t believe that if you are experienced, you can’t commit such mistakes! You should never be too over confident).

Taking customers for granted

Customers should be the center of focus for every realtor. Rather than giving priority to your listings and inventory, agents should give more emphasis on how the listing can prove fruitful to fulfill the customer’s need. It is understood that in such intense competition, there is a need to highlight your credentials and specialization bit that should not be the sole focus of the marketing and sales pitch.

 Forgetting your customers

This does not literally mean you should remember their names but it means that you stop taking follow up from your customers. Follow up is required on a regular basis so that customers do not forget that agent which ultimately helps in avoiding bad conversion rates. Also, if you keep taking follow up of your customers, of whether they are contented by their purchase or not which a prove to be beneficial for referrals as well.

 Keeping everything to yourself

Some agents believe in doing business in isolation. They do not create a personal network with other agents which if done can prove helpful for their business. There are, in fact, several tools and networks, such as Indian Realty Exchange (IRX), that makes it a child’s play for agents to expand and constantly stay in touch with their networks, as socializing and collaboration are the need of the hour of this changing business scenario. Other social media platforms like WhatsApp and SMS are also good tools for staying in touch with customers as well as other agents.

 Treating technology as your enemy

Some real estate agents do not change their way of operations with changing technology. It appears as if they are in a war against technology. The agents should take advantage of advanced technology to make their work as simple as ABC. Using a specialized lead management software/mobile app , using presentations and videos to exhibit listings , taking advantage of WhatsApp and SMS for networking, using an accounting system for record management, using an app like IRX for showcasing their profiles are some hacks that can help agents leverage technology in business.

 Believing that you have enough skills and you do not need to improve yourself

This is the biggest mistake committed by experienced agents who constantly taste success. But they should remember that there is always a room for improvement. Because you have always been successful in past does not mean that same shall prevail in future. It is essential to keep in touch with industry trends, legislations, laws as well as the latest tops in sales and marketing to polish your selling skills. In this socializing and tech-savvy world,  keeping in touch with latest trends has become simpler, since you have everything at your fingertips, thanks to the blogs, podcasts, and communities on Real Estate that contain loads of information important for real estate agents .

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