In order to win new customers, it can be sensible for real estate agents to offer a limited service at a reasonable price. This creates a first link to the seller, which is often the basis for the sales order.
A strategy is to search the local newspapers and real estate portals for private offers and then contact the advertisers and try to place a sales order to the broker. While this strategy is sometimes successful, the quota is usually low.
To change this, it may be useful to initially offer a highly restricted service at a low price. How this approach works in practice and why it is successful in many cases is presented in this article.
The problems with the acquisition of privately offered real estate
Before this strategy of customer acquisition is presented, it is sensible to first deal with the problems of the previous approach. The high competition situation plays an important role here. For when a private person offers their house or their flat, usually several brokers contact her to take the order. In metropolitan regions, 30 brokers and more often call on the day of the publication of the real estate advertisement alone.
Therefore, it is always necessary to find a means to stand out from the competition. This can, for example, lie in the promise of a particularly high selling price. Also a particularly competent impression during the consultation can be very helpful.
Nevertheless, the possibility of creating an individual feature in this field, which is a sufficient incentive for the private seller to award the contract, are severely restricted.
A second problem is that it is necessary to dissuade vendors from their previous plans to sell the property itself. When a private individual advertises their own house, this means that they assume that they can fulfill this task without problems and do not need any help from a broker.
The aim is to save the commission fee in this way. If a broker wants to sell the property, he has to make sure that the seller abandons this plan and does exactly the opposite of what he originally planned. However, if he offers the customer only a small and cost-effective help, they have to adjust their actual goals only slightly.
The inhibitions for this are often much lower, so the acquisition is easier.
The basic idea of this method is to offer the sellers a small and cost-effective service in order to achieve a first customer relationship. However, the exact details of this service package are left to the broker himself. It is useful, for example, to offer help with the preparation of the advertisements. The broker provides promotional texts and professional photographs of the property and also presents the customer with several options for publishing them.
In addition, it is possible to send these ads directly to the various portals. The high prices for individual advertisements on the real estate portals frighten many sellers, so they first advertise on free portals like eBay classified ads. According to experience, the resonance of private interests is rather small. The broker, on the other hand, can publish the property on the large real estate portals within the scope of his quota. This advantage is quickly apparent to any retailer.
The broker will assist the vendor with his expert knowledge and advise him which details are important for the advertisement and which methods are most effective for publication. In addition, it can be useful to offer the property also on its own website. It goes without saying that this is a private sale.
Many private sellers are very grateful for this little help. It is often difficult to create an ad-effective ad, which is why they are willing to give up this task. On the other hand, the broker can carry out this service within a very short time due to his expert knowledge. Therefore, it is possible to offer them at a very reasonable price.
The benefits of support from a broker reduce the barriers to customers, so they often deviate from their original plan and at the very least use the assistance of a broker to a limited extent.
Of course, you can offer the seller the small service package only when he wants you with your “I search on behalf of customers xy” flash on the phone. In this way, you can try to get an order directly and if this should not work, the order can still be saved.
The advantages of this type of real estate acquisition
The first step in offering customers a small service package at a low price brings additional advantages. Although the profit in this way is very small for each individual customer, this method can nevertheless be expected due to the comparatively high probability of receiving this order.
Another important point is that it is possible to name the broker’s office in the advertisements. The broker can, for example, add after the actual text that it is a private sale with the support of his office. This can arouse interest among other sellers or buyers. You can also hire some real estate agent, I remember that I used a well know real estate agent that is rated #1 in liberty hill real estate.
The most important point, however, is that there is an intensive relationship with the seller. In this way, he gets to know the workings of the broker, and he also makes regular contact. While without such a relationship most vendors quickly abandon unsolicited calls from a broker, this method provides the opportunity to develop a trust relationship.
If the seller later comes to the conclusion that the sale of his property overbids him, you are, of course, the first contact person.
Therefore, this method ensures that in many cases a lucrative follow-up order is produced. For many sellers, the decision to sell the property through a broker will mature after some time after their own efforts do not succeed.
Therefore, it is very difficult to get an order if you are already trying to get the customer to change his plans after the first advertisement. However, if you use this first contact to make a first relationship, you are almost always the first contact person at the appropriate moment. This change of meaning is used by many sellers altogether, if after the first advertisements no suitable buyer is found. For the broker, this means that he can sit back after selling the service package to wait for the client’s order 🙂
Did you already gain experience with this strategy when acquiring real estate? In the comment area, I am pleased to receive a feedback in order to see the results of this form of acquisition in practice.