Real estate acquisition: secrets for optimising it
Real estateacquisition is one of the key activities for real estate agents .
But what exactly is it? How does it take place? And what new trends are being observed in the real estate landscape?
In this article we define the concept, and present best practices used by real estate agents to perform this activity with great effectiveness.
What is property acquisition?
Definition
Most real estate agents will agree with the following statement: even before knowing how to sell, a good real estate agent must know how to acquire real estate.
Real estate acquisition is nothing more than the activity of identifying and receiving sales commissions from private citizens who own houses or real estate.
The sales commission
Real estate acquisition is realised by the granting of a sales commission by the private individual to the real estate agent.
The mandate can be of 2 types:
- simple mandate. The agency does not have the certainty of realising the sale and obtaining the commission. Therefore, the investment of time and money for its promotion can only be minor.
- Exclusive mandate. With the exclusivity agreement, the owner of a house entrusts one agency with all the activities aimed at selling a property. The agency can thus devote the necessary time and resources, as it is guaranteed to receive a return on its investment. In addition, relations with the owner are usually better as a climate of mutual trust is created.
☝ Logically, exclusive mandates are much more profitable for real estate agencies.
How to realise a winning strategy?
Real estate agents try to conclude as many sales transactions as possible. To close transactions, however, it is essential to have a good product catalogue to offer potential customers.
For this, good agents must have flair and know how to find properties with the right characteristics so that they are easily marketable.
Let us now take a look at some tips on how to do this effectively, making the most of new digital technologies.
Mix active and passive search
Active search sees real estate agents researching property owners. Conversely, in passive search, it is the customers who approach the real estate agency. Since there is no one type of search that is better than the other, we suggest that you mix active and passive search at thesame time . By doing so, you exploit the advantages of both systems.
Structure a convincing offer
Owners have every interest in selling their homes privately. Therefore, to convince them to choose your services, the offer must be attractive.
For example, you can show them concrete case studies to convince them of the value of your work. Or, in exchange for sales exclusivity, structure a customised, property-specific marketing plan.
Here are some possible actions to propose
- drafting a professional advertisement;
- marketing campaign via Google Ads, Facebook Ads, etc.
- listing on the main real estate sales portals (idealista.it, subito.it immobiliare.it, etc.);
- search of the internal database to identify potential buyers;
- inclusion of a penalty in case of failure to sell within a certain time period;
- home staging practices (to enhance and modernise a property and speed up the sale). The most common practices include minor maintenance work, cleaning, whitewashing, decorative redecoration, intervention by a professional photographer, etc.
☝Professional photographs can make all the difference! They help give a positive first impression, enhancing the size and brightness of the property.
Use the right software tools
The emergence of Software as a Service ( SaaS) has also had a major impact on the real estate market. In an increasingly competitive real estate sector, equipping oneself with the right tools is a sine qua non for success.
Some software is built specifically for real estate agencies, and allows them to manage and automate a large number of industry-specific tasks.
Then there are other multi-sector solutions, which can make all the difference in real estate. Yousign, for instance, offers a state-of-the-art electronic signature solution. Signing an exclusive mandate remotely has never been easier!
Exploiting online communication channels
The web is becoming increasingly important in the acquisition strategies of real estate agencies.
- Take care of your web reputation. To be successful on the web, the real estate agency must be perceived as authoritative and professional by potential customers.
- apply tracking on advertisements. In addition to always having all the platforms where the advertisements are published at hand, you can check the effectiveness of the various pages over time.
- use landing pages. In order to attract potential 'sales customers' with this method, you have to highlight certain peculiarities that distinguish you from other agencies. For example, if you specialise in selling second homes, communicate this!
☝ In exchange for your data, be clever enough to propose more than the obvious 'free valuation of the property'. To stand out from the competition, you could, for example, propose a 3D service in virtual reality.
Evolutions and new trends in the sector
In recent years we are witnessing a real digital revolution, which is radically transforming the world of work. The real estate sector isalso undergoing a phase of great change and transformation, with the emergence of new professions.
In addition to the real estate social media marketer, a figure specialising precisely in property acquisition is becoming increasingly important.
The property finder
This new professional figure aims to completely change the approach to the management of home sales.
Consistent with the ' customer-centred' marketing revolution, aimed at putting the customer at the centre of business strategies, real estate agencies now put the buyer at the centre.
The property finder in fact, literally ' property hunter', only deals with prospective buyers.
The change is radical, as agencies no longer focus solely on brokerage, but play a more active role in the real estate process.
This new profession first appeared in the United States in the early 1990s and then gradually spread to other Western countries. In Europe it first appeared in France and England, and is now beginning to spread to Italy.
Real estate acquisition: a constantly evolving activity
As we have seen, the real estate acquisition process is going through a period of great transformation.
In fact, the digital transformation has not spared the real estate sector, with a consequent review and redefinition of agents' practices and activities.
Social networks, call to action, 3D technologies, SaaS software.. . there are more and more levers to exploit in order to compete and make a difference. The secret to a winning strategy? Exploiting all the tools available, building a balanced strategy capable of placing the ' sales customer' at the heart of the project.
Article translated from Italian