5 strategies to grow a real estate business
The goods recover their value and the buyers are encouraging themselves to buy. It is encouraging, although that does not imply that growing a real estate business is easier.
If in your portfolio you work for a business of this type, and especially, if you are the owner of one, you will be interested in this article: five strategies used by real estate businesses in the United States to grow their businesses.
Get “hidden” properties
If you cannot find properties before your competition, it is difficult to earn money. Search for directories or properties whose owner needs to get rid quickly, and do not think about foreclosures.
It can be a property of a couple who is going through a divorce, or because the owner is moving to another country or has financial difficulties. They are the ones that need to be sold, and they are those that the owner himself puts on sale, without going to a real estate company.
Finding goods of this type means being able to obtain it at a price lower than market value and your performance will increase. Find partners, such as real estate attorneys, or others, to inform you.
Reform apartments and sell them
Buying houses to reform them, and then selling them has become a typical investment in the United States, and it has been so much their success, that there are television shows showing just that.
The reality is not so pretty: according to studies in those countries, a real estate agent earns an average of ten thousand dollars in each transaction of this type. According to Mark Ferguson, owner of Invest Four More (financial agency), the gain in this type of operations is in having a good volume of properties and partners that can work at a competitive price.
The key to making money on this is to buy goods below the market price and have partners that reform, close, fast and cheap. So you can earn up to $20,000 per transaction in a relatively simple way, for a good that was perhaps not initially attractive.
Target the holiday market
The key to this type of business is keeping the price at an optimum level most of the year, without inflating during holiday periods. Home Away, a rental company of this type, in the United States, calculated that an average homeowner rents a home for 18 weeks a year and with it earns $28,000, 75% of the mortgage per year.
Invests in virtual tours and new furniture
The National Association of Realtors of the United States assures that 43% of the buyers start their search of properties in Internet. But also that the majority decides when they see the house and imagines living in it. How to offer that online?
Photographs are not enough, because we all know that they can be made up and they do not show us the reality. That is why it is a good idea to invest in virtual tours on Google Street so that you can “walk” 360ยบ in homes, production is not expensive and is high.
To that I will add one thing: professionally decorated houses are sold on average in 33 days, while those that do not, 196 days.
Buy furniture, decorate your house well, and offer a virtual tour, plus the visit to the house of always, and you will decrease the life time of the houses in your company. That means money.
Do all kinds of marketing, without forgetting the traditional
An error that many companies make is to leave aside the traditional and direct marketing: leaflets, business cards, word of mouth recommendations, catalogs, etc.
Make a comprehensive strategy that combines online marketing, automated, social networks and traditional. The latter has the disadvantage of not being tracked, but still has an interesting.