In this current climate, businesses are greatly affected due to social distancing and lockdown measures aimed at curbing the spread of COVID-19. However, in these challenging times, there is always a silver lining.
On the positive side, it seems that property owners are taking it more seriously to market their properties. And with property prices dropping, it is now a lucrative opportunity to buy and invest in a property.
At times like this, we come in to offer tips to help property agents close deals successfully.
Increase Your Online Presence
There are a few ways to increase your presence online and be exposed to as many property seekers.
One way is through video marketing. It is a game changer to help agents stand out from the competition and attract property seekers. The way a property is presented sets the first impression, since people are generally attracted to well-composed, professional-looking photos and videos.
Also, do ensure you provide detailed and accurate description of your listing so it reflects the current condition of the property. It will also increase the chances of property seekers calling upon you.
Lastly, always make your customers feel that you’re available for them. Respond promptly to each enquiry wherever you are, and whenever you can.
Know Your Customers
From responding to property seekers’ enquiries, you should be able to identify specific concerns that arise from a property or area. Get as much information about your customers, such as their reason for a new property, no. of people living in the household, preferred amenities or neighborhood and note them down.
Then, focus on segmenting your customers by geography and demographics, such as budget and family size. Select your target audience from within this segmentation, such as first-time home buyers or existing homeowners looking to sell, and create a list of hot prospects, against those who have little or no intention to be your customer, so you can prioritize your time and attention.
If a hot prospect is hesitant in making decisions, be their problem solver. Understand their concerns and clarify them as much as possible. You can also propose a few similar properties that would serve their needs.
Knowing your customers would enable you to invest time and effort to seek out and represent properties that are in demand.
Categorize Your Listings
Sorting out your listings would enable you to match suitable properties to potential buyers more effectively. You can classify your listings into 3 broad categories:
Properties that are in High Demand but Low in Supply
This refers to properties which are highly sought after but are usually limited in supply. Owner
has very strong intention to sell/rent out the property. The property is in an excellent
condition, situated in a prime location and reasonably priced within or below market rate.
Properties that are Easy to Sell/Rent
In this category, owner has keen intention to sell/rent out the property. The property is in a good condition, although location may be less ideal. The price is also reasonable within market rate.
Properties that are Difficult to Sell/Rent
This is the most unattractive category. Owner lacks the intention to sell/rent out the property.
Its location may be inaccessible, and the condition of the property may be old and
Always make sure all your listings are posted online. If you have too many properties under your belt and find it difficult to put them all up, you can consider hiring an office administrator to help you with it.
Change the Way We Think and Operate
COVID-19 is indeed a global challenge for all businesses, and this requires us to change the way we think and operate. It is easy to fall into panic mode and succumb to the pressure of the pandemic or leverage on the opportunity to adapt and improvise your business operations. With every crisis, comes opportunities. Agents can now leverage on technology to engage customers, such as conducting virtual tours or showing a pre-recorded/live video of the property.
This is also a good time to invest in self-improvement by pushing yourself further to learn new skills or brushing up your skills. PropertyGuru Academy is introducing a special edition of webinar series to help agents reboot for a strong bounce back when the situation improves. What’s attractive is these webinars are free!
Here’s a preview to what’s available:
- Stockpile Your Prospects by Using These 3 PropertyGuru Features
- 3 Must-use Tech Tools for Agents in Time of Social Distancing
- Get Noticed with 5 Listing Tips
Let’s hang on there and have faith that better days are near.
#GuruCares #SGunited #PGStandByYou
Check out your COVID-19 Resource Guide to see the relief measures, latest webinars and articles available to you!
Sign up for your free webinar sessions available on PropertyGuru Academy!
Other articles on COVID-19 Relief Initiative for Agents:
- Standing By You Through COVID-19 (Relief measures launched on: 18 March 2020)
- Supporting You Further With COVID-19 Relief Initiative: Circuit Breaker Edition (Relief measures launched on: 13 April 2020)
- Enhanced COVID-19 Relief Initiative For Agent Partners (Relief measures launched on: 30 April 2020)
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