Low Risk, High Return Growth Strategies for Real Estate Teams
For large brokerages, cash and power drive growth. But for the single Realtor or small team, the improvement road can be rocky if you lack funds, knowledge, resources, and opportunities. You want to exploit strategies that will yield a high return with low risk and preferably with a marginal investment of time and money.
Here are some simple growth strategies you should be implementing now.
Invest in your existing clients
Have you ever analyzed your marketing spend and compared it to where you get your leads? On average 75% of a real estate agent’s business comes from referrals and word of mouth. If it costs you six to seven times more to acquire a new customer than it does to retain an existing one, then a more frugal strategy would be to focus efforts on marketing to your past clients.
Consider these stats:
- 88% of buyers would use their agent again or refer them to others
- 84% of sellers would use their agent again or refer them to others
- 92% of consumers trust recommendations from friends and family above all other forms of advertising
With a proper Real Estate CRM, you can consolidate information from all your lead generation sources in one place. Collecting and organizing your contacts ensures that these relationships continue to get nurtured after the sale.
Invest in automation
Real estate is a competitive market and those realtors that can establish direct relationships with clients early on will have an easier time growing their business. You want more conversations that lead to closings, and responding immediately to inquiries, particularly online inquires, is a critical component of successful conversion.
Having a solid, automated system to run email campaigns, text-messaging, lead notifications, and more allows you focus on the right activities while automation takes care of the rest. Your time is valuable and limited; embrace the tools that help offset the amount of hands-on work you have to do.
Invest in getting out there
Social media platforms are a great way to get out there and connect with people. They’re free and give you automatic access to large audiences in your area. Facebook can be leveraged organically or via pay-per-click strategies. Data shows us that 74% of sellers used social media to find their agent, and 45% of clients have walked through a home found on social media.
Also, try to curate content that can be shared via blog, social channels, and e-newsletters. This doesn’t have to be time consuming. There are many tools out there to help you get your content marketing game in ship shape. By offering consistent, relevant information you will be branded as an industry expert and remain top-of-mind with potential prospects.
Making the most of limited resources means building a well-rounded portfolio of strategies and tactics that will provide the biggest ROI.
To wrap things up, your high value investments include:
- Growing relationships with existing clients.
- Using automation to save you time while simultaneously increasing the effectiveness of your efforts.
- Positioning yourself as an industry expert with thoughtful & consistent content through a variety of channels.
Ready to take your business up a notch? Kunversion is the #1 Real Estate lead generation, CRM & automation system built for agents, teams and brokerages. We’ll tailor a demo to your specific needs and you can review the real bottom-line results.
Check out our resources below for more real estate best practices and insights:
Learn more about how Inside Real Estate’s Kunversion can help your team drive more leads to your business, build better relationships with your clients, and close more deals by requesting a live demo.By Mike Alder Filed in: Real Estate Tips
Tagged: , High Return, High ROI, Low Risk, Real Estate Teams, Strategies
- Small and Midsized Brokers Power Recruiting with Core BackOffice July 10, 2019
- Real estate teams should demand more. Here’s why. May 2, 2019
- Building a Brokerage With Leads April 19, 2019
HER Realtors launches powerful enterprise platform, kvCORE from Inside Real Estate, to fuel growth in 2020
November 13, 2019
HER Realtors, ranked by the RISMedia Power Broker Report as one of the top 100 largest brokerages in the country, […]Read More