The recent RealTrends 500 core services-based rankings has surfaced a couple of interesting points — a big push from newer real estate companies towards core services. And for the more traditional real estate brokerage firms, integrating core services as part of a single transaction is not something new.
It all makes sense, because it’s no secret that core services are playing an important role in generating additional revenue and improving profitability for all real estate companies.
For the past seven years, I have been involved in helping several of the top real estate brokerage firms across the US, better integrate their core service offerings in the customer journey.
And I wanted to share with you three actionable strategies that brokerage firms, of all sizes, can use to kickstart, and/or improve, their lead generation efforts around their core services.
Strategy #1: Using the brokerage website to start conversations with customers
Real estate brokerage firms today are becoming more aware of the importance of investing in their consumer website as one of their main lead generation assets.
With most of today’s real estate journeys starting online, the brokerage’s website can be a great first touch point with a customer. A place where they could start conversations around their core services, early on.
And with the emergence of new conversational technology, real estate brokerage firms are bringing their core services to the forefront of their website to generate leads. They are having live conversations around home-buying, mortgage financing, relocation services or even recruiting right on their site.
This conversational technology ranges from simple live chat solutions to more complex bots that are “ON” 24/7, 365.
Strategy #2: Segment and profile your audience
The second strategy has to do with knowing what your customer wants early on in the process.
Knowing what they want helps you service them better.
Real estate brokerage firms are using improved audience segmentation to:
1. Increase their agent’s productivity by sending them more qualified leads. Are they ready to transact? Are they working with an agent?
2. Tailor their core-services to the individual’s needs. Do they need a mortgage? Have they been pre-approved? Do they need relocation services?
3. Save time by nurturing people that are not ready and need more time.
Segmentation is an integral part of B2C marketing and its use case in real estate is proving to be very effective, especially when implemented at the top of the funnel.
Technologies such as predictive analytics and AI-powered bots, are being widely used to help brokerages better segment their audience to become more efficient at providing a personalized customer experience. Which brings me to my third strategy.
Strategy #3: Use smart automation to promote core services at the right time
This third strategy has to do with sending customers the right offer, at the right time. And in some cases, anticipating those needs based on behavioral patterns.
Today, marketing is all about personalizing the offer to the customer’s individual needs.
For example, knowing that an interested buyer is not pre-approved for a mortgage yet, you can predict – to a certain extent – that they might be looking for a mortgage. So promoting your mortgage services to that individual would increase their likelihood of opting in.
That’s how real estate brokerage firms today are promoting their core services to their clients.
One example is using AI and smart automation to detect customer behaviors online and then sending them tailored offers that they are more likely to engage with, right to their email.
Brokerage firms today are initiating early conversations with customers on their website to know exactly what their needs are, segmenting them accordingly, and sending them offers that match.
These new strategies help those firms bring their services to the forefront of their lead generation and marketing efforts. These actionable strategies are effective as they are in line with the brokerage’s goals to increase revenue and profitability, as well as the consumer’s need for a more human, engaging and personalized experience.
Michel Moubarak is co-founder of roof.ai.
This column does not necessarily reflect the opinion of RealTrends’ editorial department and its owners.
To contact the author of this story:
Michel Moubarak at michel@roof.ai
To contact the editor responsible for this story:
Tracey Velt at tracey@hwmedia.com
