5 Important Strategies for Building a Real Estate Business ​

by Dusty Rhodes on Jan 10, 2020  in 
  • Realtors
  • Organization
  • business owner
  • Personal Storage
  • Real Estate
How to start your own Real estate business

The start of a new year is the perfect time for real estate agents to think about what they can do to make this year the best ever. You should think about ways to build your clientele, increase sales, and earn more income. It’s not enough just to desire this kind of have to take the necessary steps to make it happen. Building a real estate business takes time and persistence but the good news is that growth is possible. Here are a few important strategies that can help you reach new clients, increase sales, and grow your business.


Learn to Generate Leads

In order to grow your real estate business, you need a targeted approach to finding new clients. In this business, clients don’t just walk into the door looking for a realtor. You have to go out and generate leads yourself through networking. Start by creating a professional website and use it to publish photos of new listings and local landmarks and events. You also want to establish a relationship across various industries that work closely with the real estate industry including local appraisers, banks and mortgage lenders, and home inspectors. Finally, establish a presence in your local community by attending events and conferences. All of these networking opportunities will help you to establish relationships with other professionals and meet people in order to generate new leads for your business.


Focus on Communication

Buying and selling a home is a huge undertaking and clients rely heavily on their real estate agents to help them navigate the process. Realtors need to be able to convey information to their clients clearly, effectively and as timely as possible. They need to be able to listen and understand the needs of their clients and provide accurate information to help their client make informed decisions. Clients will appreciate this communication and they will be more likely to refer their friends and family.


Ask for Referrals

Not only do real estate agents rely on new leads to build and grow their business bu they need referrals too. In fact, nearly 75% of an agent’s business comes from referrals and word of mouth. Realtors can drive referrals by offering referral gifts, requesting referrals on their website, using branded materials that make it easier to get referred, and by giving thoughtful client gifts.


Become an Expert on the Market and the Area

The best realtors are those who are well versed in the industry and understand the market analysis. Realtors need to understand the market in order to know whether or not it’s a buyers market or a sellers market, as this can impact pricing and negotiation tactics. Furthermore, realtors need to be experts in the area so they can guide their clients and provide them with accurate and current information about the area. A knowledgeable real estate agent is more likely to see an increase in business.


 Be Persistent

The real estate business is one industry where it pays off to be persistent. Take advantage of marketing opportunities and establish a social media presence. Follow through with leads and don’t be afraid to check in with them. Play hardball when necessary and negotiate on behalf of your client. Persistence will lead to an increase in clients as well as more satisfied clients and higher sales.




Dusty Rhodes