Successful marketing of real estate requires a strategy. No matter how good the property on offer is, many customers are likely to dither at some point. This hesitancy is typical because buying real estate requires substantial capital outlay.
Another reason for the uncertainty is that the fitness of the purchased property for purpose becomes a significant determinant for many other vital outcomes later. For example, the suitability of the location of a business determines whether customers will visit it or not.
There are many innovations developed to help industry players when engaged in the marketing of real estate. Tools such as virtual staging help marketers get prospects, but it is the marketers’ ability to make offers that ultimately seal the deal. But what else realtors can do in order to make their offers stand out of the market. The following tips are some of the ways realtors can close deals effectively. Let’s take a look!
#1. Focus on Benefits Rather than Features
People don’t buy features, they buy benefits. Hence, anyone who would be successful in the marketing of real estate would be well advised to focus a prospect on benefits. For instance, if the windows let in enough natural light, the marketer should make the prospect know what the sun does for homes. Particularly, how it benefits house plants and occupants’ health, allows for savings on utility bills, etc.
Using virtual home staging, realtors can show a customer how plants, windows, tune lighting, and furniture fit in the building in question. This way, they can demostarte the full potency of real estate. On top of that, the most pleasant part of CGI is that there is no need to make an actual renovation to showcase the best features of a property, which is really cost-saving.
#2. Give Real Estate Knowledge Away for Free
Success in the marketing of real estate takes trust. When clients trust realtors, they are more inclined to accept the deals offered to them by those marketers. Confidence in the real estate marketer grows when a buyer is convinced that the marketer has their interest at heart.
Being an industry expert, the realtor should foster trust with customers by guiding them with a genuine interest in their welfare. Marketing for real estate agents involves sharing factual information on real estate markets and on how the properties provide the prospects with the benefits they desire. For this purpose, real estate agents write blogs with professional advice, make market review videos, and post testimonials of their satisfied clients.
#3. Minimize Risks for Clients
People tend to overthink when making significant decisions such as the purchase of property, and therefore, many clients would rather make a mistake on the side of caution when considering a property. It is the realtor’s job to bring about a more balanced view of any potential risks that may be attached to the real estate marketing process.
It is even better if the real estate agent takes steps to mitigate risks for the client. If, for example, there is something wrong with the structure, or there is a need for a furniture replacement, part of the realtor’s services should be to rectify the situation or give the buyer financial incentive to take the property as it is. If some customers find it problematic to handle the paperwork, the realtor should handle as much of it for them as they possibly can. Another example is foreign clients who run the risk of incurring losses as they travel long distances to see the physical staging of the property. In such cases, estate agents should use CG marketing tools like 360 virtual staging tours and other technological options to save their potential customers from wasting time and resources.
#4. Give the Offer a Timeline
Customers usually don’t trust a deal when the seller appears desperate to close it. One way a realtor can ensure they don’t look desperate is by giving a timeline when their offer will be on the table. This method of closing is referred to as ‘sharp angle closing.’ Timing is critical for the sharp angle to be consequential in the marketing of real estate. If a marketer applies this technique too early in the discussion, they may come off as arrogant and disinterested.
The right time to use this technique is when the prospect has come close to making a purchase, but they have a few concerns they feel would be deal-breakers. The seller should solve these issues to the buyer’s satisfaction, and if the buyer is serious about the deal, they will close it. If for whatever reason the client appears hesitant to close, the realtor can give them a short deadline by which they should have made up their mind. This strategy usually pushes dithering customers over the top.
#5. Try Ben Franklin Close Method
This closing method has the name of one of the founding fathers, a polymath who was a brilliant businessman. Ben Franklin is simple. Once a client has seen the virtually staged design and other features of the property, the seller sits with them, and together they come up with a list of the pros and cons of the property.
If the pros outweigh the cons, the client is likely to close the deal. This approach is akin to the objection close where the seller asks the customer to air their objections so that they can be handled. Once the complaints have been resolved, it is unlikely the customer would fail to close the deal.
While these closing techniques are all exciting, a real estate agent is the ultimate determinant of whether there will be a deal or not. It is the laid down marketing plan that determines how satisfied the client is throughout the negotiation process. Marketing strategies for real estate agents should, therefore, be long term, creative, and targeted.
As a far-sighted marketer, one should employ all the personal and technological tools developed for marketing in real estate to bring the prospect to the point of closing. One of which is virtual staging that can make your listings look much more appealing without the need to spend a ton of money on renovation or furnishing. Virtual staging also enables you to showcase your listed properties which are still occupied without violating the privacy of sellers.
Use virtual staging services to give your clients a clear picture of how the furniture and other home amenities can look like in the house. Once all these steps have been taken, the prospect will come to the point of decision, and only then can the tactics above bring you success in the marketing of real estate.