The Art of Marketing and Selling Real Estate in Nigeria (Part 2)
Even though much has changed over the years as a result of the improved dynamics in information technology and other factors, the actual art of selling real estate remains the same. No matter how bleak the real estate market appears to be, some people keep selling properties. There would be always be tons of real estate professionals who provide the same services you offer. Regardless of your profession be it banking, consultancy, journalism, copywriting, etc, there will be competition. Therefore it is imperative that one stands out. As a real estate professional, you can’t expect to stand out from the crowd using the same marketing strategy everyone else does. In order to stand out, you have to try different approaches. Below are some approaches which we would be highlighting in this discourse.
• Focus on your company’s brand and position your firm as experts
In real estate, branding is very crucial as it demonstrate credibility, improves the firm’s reputation ultimately leading to the closing of the sales. Building a brand that can stand firm as an expert in the industry does not take a day to create. It takes a combination of various factors such as paying attention to details, providing excellent customer service, excellent marketing presentation, properly trained personnel etc. It is essential that real estate practitioners acquire the required, relevant skills and knowledge to practice real estate. Currently, the Nigerian real estate industry is filled with non-professionals who practice real estate activities giving rise to cases of theft, wrong allocation of properties, deceits and misrepresentations thereby portraying the noble industry as one replete with dubious people which should not be the case. The success in real estate is – and always will be – about honesty, integrity, knowledge, professionalism, connections, timing, personality, and excellent customer service.
• Target Your Market More Precisely
Targeting one’s market is very important as it enables the real estate professional channel resources, time, and strategies to a focus-driven direction as opposed to channelling them to various contested aspect of the market. It enables the professional provide specialized solutions to target clientele rather than dealing with a broad, diverse market and at the same time ensure that the target market is large enough for business to be highly profitable. When a real estate professional is clear about whom his products and services really cater to, he then attracts more clients and even charges more fees because of his specialization.
• Adapt modern marketing tools
Marketing strategy tools such as hosting open house events, client referrals and pairing with the right company and the right realtor are tried and tested tools which are still very important to real estate transactions. The advancements in technology in recent times have also helped to bridge the gap between real estate agents and prospective clients. The internet plays a significant role in the real estate industry and has made online property search more popular and convenient to property buyers as they can browse the internet round the clock. The rise in popularity of smart-phones and internet connected devices has made it easier to access web information from any place in the world without the need for a home or office computer. Property listings can now be sent via emails, text messages and websites to target market instead of just relying on the print media thus ensuring that the brand and the product are always in the consciousness of the target audience.
• Get the right price
Competitive pricing is the most important part of any property sale, especially in a tough market. Everyone likes a good deal and when your pricing is right, the property is as good as sold. When homes in the area aren’t selling well, the best strategy is often to compare recent sales on similar properties in the area, and try to sell it a little bit lower than the market price. This saves you time, gives you a quick sale, and ensures you make a profit as not many resources would be needed to promote a fantastic product with a competitive price. Great pricing is king.
• Use professional imagery to sell.
The type of images used to depict houses, villas and mansions should be such that people can experience the fantasy woven around the property without even being there. Great imagery and well-written descriptions can really make a listing stand out and sell out as it encourages people to dream. When these are combined with well thought of and professionally designed videos, 2D, and 3D models, it would be very difficult for a prospective client to resist.
• Build Strong Relationships With clients
It is imperative that real estate professionals build and maintain strong relationships with prospective and existing clients. Building strong relationship ensures repeat clients for future transactions. This can be done by providing excellent, unrivalled customer service, being punctual to meetings and viewings, providing vital information to the clients and lots more Staying in contact with your prospects at least once a week and giving them ideas that they can use continues to demonstrate your expertise and present them in a personal, engaging way. Your prospects are more likely to buy from the person they know the best.
REAL ESTATE TRIVIA
What is considered one of the slimmest buildings ever designed?
The Carnegie Hall Tower, designed by Cesar Pelli, is only 50 feet wide and 60 stories high.