Sharing the Pie with the Big Guys in Real Estate Business
Sharing the pie with the big guys in real estate business may seem like a pipe dream. The big guys have more capitol to invest in advertising and they generally already have a well established client list that they serve. They often have some of the nicest homes on their list of properties and they can afford to make slightly less profit than you can per house, or can they?
Do not let the big guys intimidate you when it comes to minorities in the real estate business there are things you can do to assure you have success. The first thing you can do is be real. Be someone that the ordinary person can speak to and does not feel as if they are being talked down to. If you want to sell property then you have to be someone that people can trust and that people want to do business with. You may not have as many listings at your company that sells for a million or more dollars but you can have good quality listings that will provide housing opportunities to the average people in your area. This can make you as many profits if not more than having a bunch of high dollar listings that you cannot move.
You want property that you can sell to be listed with your firm. You want houses that people can afford and that will be HUD approved and will qualify for some of the many government programs that assist people in buying homes. Those million dollar listings are nice to see on paper but if you do not sell that listing all you have is a figure on paper and nothing in the bank.
Speaking of the bank you always want to keep the cost of running your office in perspective. The big guys in real estate take out television ads, and radio ads, and they do full size billboards with their names on them. They advertise in all of the local publications and they make these ads as colorful and detailed as they can. You need to consider the most likely places that people who will be interested in the homes you have for sale will look for an advertisement. You do not have to invest thousands of dollars every month for people to know who you are. You do need to sell a home or two and build a reputation of honesty and providing quality service. If you have a solid reputation then people who have bought from you will recommend you to their friends who are looking for homes. Word of mouth is the highest form of flattery a business can get and it is the very best advertising that you can get.
Another good idea is for you to check into the government programs and be educated on the help that is available to your clients. If possible get some of the forms they will need to fill out and keep them at your office so you can help them fill out the paperwork and get it returned in a timely manner. Also, you can hold seminars in local community centers teaching people about home mortgages and the things they need to know about buying a home. A lot of people consider the possibility of their owning a home to be slim to none. If you educate them on the possibility that they might qualify for a home loan then you might increase the number of clients you have as well.
Be known around your community and be accessible to people. Hold open houses at the properties you have listed and invite the entire community to come out and see the property. Bake cookies in the home just before the possible buyers start to arrive and fill the home with the aroma that the people will associate with home and with feeling secure. Be sure that you greet each person like they were a long lost friend and make certain you are truthful about anything that is possibly wrong with the property. If there is a leaky pipe on the house either allow them to know this up front or fix the leak.
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