Real estate, both residential and commercial, is highly competitive.
As a result, you’re vying for many of the same clients as other agents in your area. To succeed in this field, you need to work proactively and efficiently.
Find qualified buyers as a real estate agent
As you know, real estate is either a buyer’s or seller’s market. Considering the past year’s low inventory of properties, it wasn’t hard to find motivated buyers. However, the market is slowly changing. The housing sector is cooling down as interest rates keep increasing.
That doesn’t mean qualified buyers don’t exist, but you need to get creative to find them. Along with traditional marketing, now’s the time to think outside the box. That means using a combination of conventional and innovative strategies. Regardless, you might need to redefine your approach to some degree.
Where and how to find a qualified buyer
The goal is to find people with the desire to buy. In addition, they need good credit and money saved for a down payment. Often, timing has a lot to do with purchasing a house. Even so, there are several ways you can find the right people and encourage them to buy by providing useful information.
So, let’s get started.
Social Media
The rise of social media opens up opportunities for real estate agents. After all, you can reach thousands upon thousands of people specific to the area where you work. Consider these current statistics based on the number of active users per month.
- Facebook – 2.7 billion
- YouTube – 2 billion
- WhatsApp – 2 billion
- Instagram – 2 billion
- TikTok – 1 billion
Choose the top platforms that you are most comfortable with. Then, start by posting your new listings and key information potential buyers look for. Be sure to include high-quality photos and video.
Even better, add virtual tours. Several recent studies show that of the potential buyers who walk through a property virtually, roughly 75 percent of them will initiate contact. So, dont miss out if you don’t currently offer this with your listings. Along with showing the interior of homes, use a drone to take images and videos of the outside.
Here’s one more tip specific to using social media to find qualified buyers. When it comes time to invest in real estate, neighborhood and hyper local information is highly influential. Share key information about the city, town, neighborhoods or community.
Remember, the key is meeting buyers where they are at, they are online.
Make yourself known
What does that mean? Whether playing in a softball tournament, working out at the gym, attending a wedding, and so on, don’t be a secret agent. If you do that as part of normal conversations, you won’t come across as disingenuous.
Homebuyers, especially those purchasing their first house, dread the process of finding a good agent. Sure, they can get references from family members and friends or research online. However, they feel more confident when connecting with an agent on a personal level.
So, if someone’s interested in buying a house and they know you’re a realtor with character, they’ll come to you instead of you hunting them down.
Use education as part of the game
Whether someone just sold a house and wants to buy another one, they haven’t owned real estate for years, or this is their first purchase, educate potential buyers. After all, not only does the market change but also lending rules, interest rates, and more.
By educating people before they buy, you’ll gain a reputation as an honest agent who looks out for their clients. You can do this in several ways. For instance, start a podcast and post blogs on social media, or simply be education focused.
In addition, consider hosting a get-together in the community. When looking for qualified buyers, this is a great way to draw them in.
The power of follow-up
Focus your follow-up calls on consumers you know and those that know who you are. After all, they have some degree of trust with you. Trust and rapport are essential in the real estate industry.
It is said follow up is the most important activity for an agent, be persistent and consistent.
Don’t shy away from paid advertising campaigns
While you might need to invest a little money upfront, it can payoff in the long run. However, it typically doesn’t cost much to use reputable sources like Google Ads, Twitter, and Instagram. You can also always try a marketing company to help boost your business.
Facebook is another excellent avenue for advertising for buyers. A well-scripted campaign on one or more marketplace pages works incredibly well. Just be yourself, provide beneficial information, and target the right demographics. That’ll go a long way in helping you achieve your goal.
Network, network and network some more
It’s hard to beat the results that come from networking with other realtors. However, don’t limit that to agents only in your city or town. Instead, build a broader network. This is a great way to build your referral business with out of area agents.
You can broaden your network even further. Along with other real estate professionals, make strong connections with lenders, insurers, and various local businesses. The more you connect with people, the easier it is to find bonafide buyers.
Summing it up
You’re already a skilled real estate agent, so build on that by using every opportunity available. Be purposeful in using social media, and all the other tactics mentioned above to find the qualified.
Chris Heller serves as the Chief Real Estate Officer at Ojo Labs.
