Do you know what causes your real estate to lose sales? This is perhaps the “million question” for many companies. After all, even before going after new customers, you need to understand why a sale doesn’t happen.
We often need to take a few steps back to be able to take many steps forward. But, this is not always easy. Because stopping, breathing and retreating is not always “accepted” from a philosophical point of view in a management, as the syndrome of “always moving forward without looking back” often actually makes you retreat.
To better understand this topic, https://tajarat.com.pk/blue-world-city-islamabad/ have separated 10 reasons that make your real estate company lose sales and that you may not be giving the due value to improve. Follow it to understand!
Real Estate Loss Sales – 10 Reasons For This To Happen
For a real estate agency to be able to make a sale, it takes a lot of effort and dedication. Now, for a real estate agent to lose sales, it only takes a few wrong actions. Because, as you know, losing is always easier than winning. After all, to win, you have to make an effort. To lose, just stop making an effort.
Of course, there is no magic step-by-step that will make your real estate company reinvent itself and sell more overnight. After all, there are countless problems that can be making sales go down the drain. And only an extremely detailed analysis of the business itself will be able to answer what are the best actions to take.
To understand how to sell more real estate , you first need to understand what’s wrong with the process. That is, understand the attitudes that will keep you further away from sales so that you can then avoid them. By simply “getting out of the way” what hinders more than helps, make sure you’re on the right track.
And to help you, we’ve separated a list with 10 items that are directly related to the loss of sales in your real estate. See below:
- Not having good products in the portfolio;
- Low or no understanding of real estate consumer behavior;
- Lack of focus on the target audience– Avoid wanting to serve everyone;
- Talking too much and listening too little;
- Generic care and no personalized care;
- Low (or no) domain of the product you are trying to sell;
- Lack of empathy – You need to put yourself in the prospect’s shoes;
- Little added value in products;
- Lack of exclusive and different products – What can only you offer?;
- Little or no optimization of internal processes to focus on strategies;
We’ll talk about each of the items from now on. Follow up!
Not having good products in the portfolio
The first criterion that may be causing your real estate agency to lose sales is the lack of good products in the portfolio. It may seem obvious, but believe me: it’s not always easy to understand whether a product is good or bad. It takes a lot of dedication and understanding of several different fronts that will make you reach a conclusion.
Often, that product that you thought would be a sales leader, is left behind for the one you least believed. This is common and if it’s happened to you, you know what we’re talking about.
This type of situation is more common than we think, for a simple reason: we do not dominate the product, the public, the needs and the market. And with that, we ended up depositing all the chips in what theoretically “will be successful”.
Be careful when choosing your products. You need to curate very effectively based on the needs of the target audience, market trends, and the added value of what you’re selling.
Try not to just focus on money or commissions. But yes, on how to help the consumer. This will be the key to doing good business always, not just eventually. Think about it.
Low or no understanding of real estate consumer behavior
The second criterion that may be causing your real estate agency to lose sales is the behavioral factor. That is, consumer behavior in the real estate market . In order for you to be successful and sell a lot each month, it is critical that you master this area more than any other competitor.
Understanding what the consumer needs, what he wants and especially what he doesn’t want, believe me, can be the differential that your real estate company is looking for. But, of course, this process is not always easy. After all, each human being is different from one another. Behaviors may be similar, but they will never be the same.
But through it all, you’ll be able to find similar patterns. After all, society behaves in a linear way. At least the vast majority of people. And you can, yes, enjoy it. So, be sure to invest in research, analysis, relationships and everything you can to gain valuable information from your customers and prospects.
One of the ways to dominate a behavior in the market is to focus exclusively on one type of audience. And we’ll talk about that in the next step. Follow up!
Lack of focus on target audience – Avoid wanting to serve everyone
This is perhaps one of the main problems that managers and brokers face. And often, they don’t even know they are facing this problem. We are talking about target audience choice. This is such an important factor, but so important, that if it is not done, your company will hardly have any future in the medium and long term.
Choosing the target audience is taking an extremely important action to achieve success: focus! Being focused allows you to get out of the way what is not relevant at the moment and focus all your efforts on what really matters. That is, you put all the features in one place and the results can be exponential.
Avoid the urge to want to embrace the world. In other words, wanting to meet everyone. This could even happen at some point. But, it will come in time. Especially if you’re just starting out or still thinking about opening a real estate, know that being focused and choosing a target audience can be what will make your business take off. Or at least have breath.
Every company in every industry has a flagship product. In other words, they all made one thing work, before exploring other fronts. And this is fantastic, as it will give you flow and breath. Think about it!
Talking too much and listening too little
This is one of the factors that can not only make your real estate agent lose sales. But also, losing charisma and personality in the market. After all, listening too little and talking too much is a very bad thing. Especially if your real estate is starting now, or even if you are looking to become a realtor or real estate agent.
In order for you to make good sales, you need to listen to your prospects. Understand what they have to say and understand what they need. The more you have specific and beneficial information, the better the sales process.
Therefore, avoid wanting to “dissect” your product to a prospect, saying that the product is the best, the cheapest and the most beautiful. The less you show a certain eagerness to sell, the more accurate the strategies will be.
Understand that selling is not pushing or pushing someone to buy a product. A sale must happen naturally, bringing together the power of supply and demand. That is, someone will only buy something when they really need it. Whether to meet a physical, mental, investment need or whatever.
That’s why it’s so important to consider the previous topics, where you should know your target audience and focus on their needs. The more you can supply them, the better.
Generic service and no personalized care
The service factor is extremely important.
After all, it is in customer service that a sale often happens or does not happen. And this is where your real estate company may be missing out on many opportunities to close good deals.
The service is the front line for the prospect to see the face and personality of your real estate company. And this can be the deciding factor that will weigh against or in favor of the business.
Serving strategically is as important as investing in areas crucial to the future of real estate. If the service is not good, the customer is unlikely to return and not even close a deal.
And even if he closes a deal, if the service is bad, he will not be satisfied and may even defame his brand in the market. And you don’t want this to happen, do you?
So, focus on training and everything you can to provide humane, friendly and personalized service. Remember that listening is better than talking too much.
And using what you’ve heard to build the relationship with the customer could be the crucial step in making the sale happen. See here how to have a good real estate service .
Low (or no) domain of the product you are trying to sell
If you are not aware of the product you are selling, you will hardly be able to sell it. This is not a rule, but know that understanding the business makes all the difference for your real estate to sell more. But what does it mean to dominate the product? This can be understood in several ways.
But the main one is to unite the customer’s need with what the product has to offer. In other words, a technology or differential is often little or not crucial for certain customers. That is, it is not relevant.
However, other simpler and more generic things might be all they needed at that moment. Therefore, understanding everything your product can offer based on the customer’s needs is what you can best provide in a good service. This personalization of the product presentation makes all the difference.
Remember: a product is not sold just because it is the most beautiful, technological, cheap or exclusive. The primary condition will always be need. If the need is not met, none of the above criteria will be important.
Lack of empathy – You need to put yourself in the prospect’s shoes
Here on the blog, we’ve already talked about the importance of empathy so that you can serve better and, thus, make your real estate company sell more.
Empathy is perhaps one of the simplest and most useful tools you can put to use. But, that doesn’t mean it’s easy. After all, to empathize, you first need to know everything about your prospect. That is, it can take time.
So don’t try to force a sale out of the simple need to sell. You will notice how easy it is to insert a product in front of the prospect once you identify what you can insert.
And having empathy right now will help a lot. Because you will be able to convey to the client that you understand their “pain”. And this generates a lot of connection that, up ahead, can generate the long-awaited sale.
Little added value in products
The product needs to have added value. This is perhaps one of the situations that most makes a real estate agent lose sales. When you reach this stage, it means that all others have already been surpassed. In other words, you found a good prospect, he liked your real estate company, you were able to understand his pain, he liked the product, but… the “something more” was missing.
This “something else” needs to be considered. Then think of strategies to generate even greater value for the future customer. Make him feel that what he’s buying is worth more than he’s going to pay.
Lack of unique and different products – What can only you offer?
The lack of exclusivity is also a very important factor for your real estate agency to sell less. Here, we can fit the “target audience” factor. When you can dissect and understand absolutely everything about your audience, the chances of putting together unique and personalized products increase a lot. And, of course, people like exclusivity. So think about it!
Little or no optimization of internal processes to focus on strategies
And finally, you also need to focus on what is not directly related to sales: management! It may sound trite, but believe me: having systems and a professional internal organization can make you focus exclusively on serving well, finding good prospects and selling more.
In other words, you delegate bureaucratic activities to software and you can put all your strength in what will make your real estate company make money.
Count on Ville Imob to find the best tools for your real estate company to grow and you have the results you dreamed of.