How has the real estate sales process changed?
What factors have affected the real estate sales process? It’s hard for you to get customers and close sales, but you don’t know why. Find out here.
The real estate sector Tajarat properties is very competitive and attracting potential clients is increasingly complex. How to attract the attention of prospects and stand out among so many offers?
The real estate sales process has been transformed due to certain major changes in the way people buy. What are they and how can we adapt to them.
The Internet has revolutionized the way to buy and sell real estate
The real estate buying process has changed and only a few companies are preparing for the challenge that this represents.
Before, when a person wanted to buy a house, they would first look for printed brochures or go to fairs, then visit real estate agents and delve into the different options that were available
All the information was in the hands of the seller and the sales process was controlled by him. Unlike now that this research process is carried out mainly on the Internet.
Not to mention that the target has become more and more diversified. According to the Lamudi 2018 report, those who most interact and search for real estate online are:
- 42.08% generation X (35-49 years)
- 35.13% millennials (24-34 years old)
- 10.76 baby boomers (50-64 years)
- 9.38% generation Z (18-24 years)
The study also reveals that in the search for properties, there is an intimate relationship between the age, habits and preferences of each of the generation.
So how do you sell real estate in the digital age?
The sales process of a property must have a structure, because your clients do not get up one day and decide to buy a house, just like that. Behind such an important decision, there is a long road full of motivations, purposes, research, etc.
But first, you must define who is your ideal buyer or buyer persona , well , you will hardly be able to meet the expectations of so many different generations.
Understanding the buying process of your ideal client will help you save resources and be more effective in your commercial strategies.
This is how your potential clients search for real estate
In a practical case, suppose that a young couple is looking to move to a larger and safer place, since they are expecting a baby.
They could even be thinking of changing cities to get something cheaper and improve their quality of life. They will probably do internet searches like:
- Safer neighborhoods to live in CDMX
- Safest cities in Mexico
- Places with better quality of life in Mexico
Searches will vary according to the needs and circumstances of your buyer . But, equally, the options increase and it is necessary to stand out. Digitizing your real estate is not enough when there is so much competition.
Why is it important to know the behavior of the buyers?
The real estate sector can have more than one client profile. Studying these typologies to better define our buyer persona (it can be one or more profiles) can help us to:
- Identify the stages of the property sale process to save time and money.
- Facilitates continuous improvement and measurement of results.
- It helps to evaluate what tools we need to achieve our objectives.
- It allows us to establish strategies to generate new and better sales opportunities.
How to improve the real estate sales process?
The sales process or sales funnel, we must see it beyond the efforts made by sellers. How to attract prospects and influence their purchase decision when they are still not sure if they are looking for an apartment or a house, or they do not know the area.
The key to improving the sales process is to align it with the purchase decision process, in the end we are the ones who seek to participate in the evaluation of the prospect. That is why we must think from two perspectives: attract and interact.
Let’s talk about attraction first. Today, the old advertising tactics in print media, mass mails and advertisements on websites, are not enough to attract potential customers and increase sales opportunities.
By implementing digital marketing strategies from an inbound approach, you can attract and qualify your prospects , follow each step in their purchase process throughout your sales pipeline until you convert them into customers .
Inbound, is a methodology based on the creation of content to attract specific users with useful and valuable content through different formats, such as: blogs, videos, webinars, etc., using multiple digital channels.
Using this approach, you will not only be able to increase the sales of your real estate in a profitable way, but also, add value to your offer to achieve the loyalty of your clients.
Build a new sales process
Why change old sales tactics? Because they are less and less efficient by not adapting to changes in the behavior of your prospects. They are outdated and unreliable.
Instead, integrating i nbound real estate marketing your sales process , you’ll attract more prospects so considering the stage of the buying decision process in which they are efficient.
So let’s talk about the interaction stage. What to do after we have prospects? The commercial team must identify those who have the greatest interest in our real estate offer, for example those who visit the website the most, who have downloaded our brochure or have requested reports. They already have a greater intention than those who have just discovered our development.
Once the prospects have been identified, the connection stage must be followed where the seller must use different channels to establish contact. How do you know which ones? This is where the analysis of the buyer profile gives us clarity.
Later, the stages of exploration and advice follow, where the advisor must understand what people are looking for, their budget and credit conditions, in order to evaluate if our offer is of value to them and clear all their doubts.
These 3 stages of the buying process are the mirror of your sales process
1. Recognition: Attract visitors to your website
The user is torn between renting or buying a house due to lack of space, insecurity, saving costs, etc.
The contents of real estate developments that you write on your blog should be based on these needs so that your buyer reaches your website, is informed and considers you among their options. For this, it is necessary to use SEO tactics and keywords that help them find you.
2. Consideration: Convert visits into prospects
The user has already decided the area, price, credit of the property where he wants to live. It’s time to convert those visits into leads and qualify them according to your buyer persona criteria .
For example, if you place forms and your prospect decides to leave their data to request a first visit to a property, meeting the characteristics of your ideal buyer, then they would become an MQL (qualified marketing prospect).
3. Decision: Close sales opportunities
Your qualified prospect has visited multiple properties and considered you among their final options. Usually, he goes for a second visit, but accompanied by his family to confirm that it is the ideal option.
Then, it would become an SQL (qualified sales prospect) where agents must spend time and send specialized content until the buyer makes their decision. Finally, choose and sign a contract.
At this stage you can close more sales with a CRM that helps you record each action of your prospects and the marketing team, as well as invest time in those who are qualified .
Empower your buyer and offer advice
In sectors such as real estate, a very important factor is the service you provide throughout the entire sales process. How do you accompany your buyer from when he is considering you among his options until he chooses you so that, later, he becomes a promoter of your real estate .
The key to inbound is not to interrupt your prospect, but to offer useful and relevant content throughout their purchase journey so that, even if they are not ready to buy, you continue to nurture them until they consider you as a viable option in the future.
Something that you should not miss is the importance of aligning your marketing and sales teams, because knowing the buying process from the moment a prospect is attracted until it is closed is essential to automate their actions and make the commercial strategy more efficient.
Through effective feedback between your teams, you can improve marketing strategies to attract better prospects, as well as optimize your sales process. With inbound marketing for real estate like blue world city islamabad, your agents will only focus on real sales opportunities.
Effectiveness in B2B Sales
Establishing the foundation, a scalable and predictable process, an action plan and adding value to salespeople are key to improving effectiveness in B2B sales.
” In easy times you have to sell more, in difficult times you have to sell better”.
If you think nothing good happens until a salesperson closes a sale, it’s worth thinking about how you’re helping that happen. Close more sales depends on multiple factors that go beyond the ” skills of persuasion” of the seller.
What specific actions are you implementing as a department leader so that your salespeople achieve success? To improve effectiveness in B2B sales, it is not enough to tell them to sell more.
Establishing the foundations, developing a scalable and predictable sales process , an action plan that aims at flawless tactical execution and adding value from the different departments of the company, are key factors to improve the effectiveness of the sales team .
Lays the foundation for developing a successful sales team
Closing more sales should not be the product of the seller’s magic , you cannot depend on it. Of course, a salesperson can “like” a customer and thus close a sale, but take a few minutes to reflect, how is it that the salesperson manages to empathize with the prospect?
We must start from two key ideas: sellers and customers have the ability to understand what the solutions you offer are and how they work, and that the value is given by people , and depending on it, they decide to give something in return. .
From this perspective, the time you spend training the sales force on your products and / or services is not enough, you must develop a sales force with the ability to sell a why?
“People do not buy what you do, but why you do it” – Simon Sinek .
If you are not clear, do not expect sellers to. Document the value proposition from your customer’s perspective and for each of your products and / or services. That is, how will your solutions be part of your client’s success?
If you want to see the complete Masterclass “Understand the customer’s moments of need” , enter here .
Developing a value proposition not only allows the sales team to optimize their time by investing it with prospects who need your solutions, it also gives them the ability to break the status quo that lies in the prospect’s world.
Why should they change their current situation? Why now and not in 6 months? Why should you be part of that change? If you are still not clear about your value proposition, it is never too late to start developing it.