It’s no doubt that the Real estate business is a lucrative one. This particular sector has continued to grow over the years. The number of real estate investors, agents, and opportunities in the Nigerian real estate market has also increased over the last decade. More and more people are coming into the market – from investors down to the real estate agents.
The way in which people search for or invest in properties has also changed, thanks to the industry big players like PropertyPro.ng. This is not to rule out the process in which people go from streets to streets in search of houses. However, there are more online real estate platforms than before. What this means is, there are also more real estate agents than before.
Who Is A Real Estate Agent?
A real estate agent can be described as a person who helps in the selling or renting of real estate properties – houses, lands, offices, etc, on behalf of the owners. They are real estate professionals involved in the connection of the buyers and sellers of real estate. In order words, they are the real estate field players and often times involved in the negotiation of real estate transactions.
Qualities Of A Real Estate Agents
Being a real estate agent, like any other role, requires some certain amount of skill or qualities. It is the same that applies to real estate agents. These qualities are what separate the successful real estate agent from the rest. One of the very important qualities of a real estate agent is the ability to communicate clearly. This is because it often requires constant interaction with prospective clients.
For every buyer or person looking to rent a house, the first point of contact is most likely to be a real estate agent. How effective your communication skills are, as a real estate agent determines are well you close deals. There are also other qualities that a real estate agent must possess aside from this. You can read our recently published article on the habits of a successful real estate agent.
Getting Referrals As A Real Estate Agent
Referrals in real estate are the same as in every other business. It is one of the surest and cheapest ways to grow your business. What it actually does is not only to get you new clients or customers but also putting your business out there to other/new people. Unlike advertising or other forms of marketing, you don’t have control over referrals. This is usually because it is unpaid for and by word of mouth. Hence, you cannot decide how people explain or put your business to other people.
For a business like real estate, the importance of referrals can never be overemphasized because it heavily depends on your network of people. The caliber of people you know determines how well you get leads and eventually close deals. Hence, the importance of referrals.
There are, however, ways to ensure you get referrals. The following are some of the key ways of getting referrals as a real estate agent.
Be A Specialist
As a real estate agent, you need to be able to identify your strengths and focus on them. For instance, it can be your specialty in an area or aspect of real estate. This way, people know and understand you are the go-to person when they need those services. It can be your deep knowledge of real estate dealings and properties in a particular area. You are more likely to be referred to when people know you are the go-to person.
The truth about the real estate industry, for real estate agents, is that it depends heavily on your network of people. As earlier mentioned, the industry has over the years witness changes. There are more players in the industry than they were a decade ago. What this means is, there are more investors as well as real estate agents today.
As a real estate agent, you must be able to at least partner with other real estate agents at some point. Because there is always the likelihood of getting a property request in areas that you are not conversant with. Instead of trying to take it for yourself, you can equally refer an agent who is a specialist in that area. That can equally open you to opportunities from the other agent or the client themselves because they believe you will always have their interest first.
Quality of Service
Another way in which you can get referrals as a real estate agent is your quality of service. When people get value for their money from the service you render, they will always come back. Even when they don’t come back, they will be glad and happy to refer their friends and families. This is also arguably where most real estate agents get it wrong because they are more concerned about their commission than the quality of service they provide.
It should be more directed at the value in which your clients get. This way, it is easy to refer you whenever they have similar jobs or know someone who needs similar service.
Leverage on Social Media
These days you actually don’t wait for your prospective customers to find you, you go out to look for them. It is the age of the internet; where almost everyone is online – mostly on social media. It is important for a wise real estate agent to leverage on these platforms, which are often for free, to interact with both existing and new customers.
You can decide to have social media channels for your business (which is the norm) and post updates about your business. This way, your target audience knows about the services you offer and can easily refer you when someone they know needs such service.
Listed above are some of the easy ways to get referrals. You can share other ways that are not mentioned in the article with fellow PropertyPro.ng readers.