No one starts a business with the view that will not be a success. It is also the primary aim and the thing you plough most of your time, effort and money into: making the business work. There is a lot of money to be made within the property industry whether you own a portfolio of properties or you help others to sell and buy homes. Continue reading for our advice on how to make your property business work for you and your customers.
Market yourself well
Marketing is a huge component of good business management. Ensuring that your marketing is fit for purpose, aimed at the right people and is accurate and fair is vital. First of all, ensuring that you have a decent website is important. If you are unable to build and manage one yourself, there are fantastic individuals or businesses out there who will be able to help you. However, having a clear picture in your mind of exactly what you would like it to look like and how it ought to function will really help. Have a look at competitors’ sites to get an idea of the content they have and what you feel is necessary and surplus to your requirements. Consider also the user in all this. If your site has flashing images, this could be off putting to many. Equally, an abundance of words or an ill-thought out combination of colours can turn potential customers away.
As important as the content on your website is, one of the most crucial things is ensuring that your information is up to date. If, for example, you are renting out and selling property, someone visiting the site and finding a home that is perfect for them and contacting you immediately only to find it was no longer on the market can be really disappointing. Additionally, it may also mean they are less likely to return and consider using your services in the future. In summary, websites for brokers are of vital importance, so make sure you get it right.
Website aside, there are other important ways of marketing yourself. Social media is an enormous element of marketing these days, so be sure to be present on several platforms and on a regular basis. Uniformity is vital when it comes to this plan of attack. Have the same profile picture across the platforms. Your logo is the best thing to use as this ought to be instantly recognisable. It is advisable to have the same user name on Facebook, Twitter, Instagram and for any other type of social media you may choose to use. Differing user names, even just an added character, can cause confusion and make people second guess both themselves and you. To be successful, do not rely on just posting on a regular basis, but engage with your customers, existing and potential. If they comment on an image you have posted, be sure to respond. Always keep your cool though and avoid engaging with trolls. It isn’t worth the damage it could do to your reputation if you react angrily.
As your business grows, it can be tempting to widen the area in which you operate. This could work if the area still remains local. However, if you are expanding to over half an hour away even, this could be detrimental to your success. Consider the length of time it takes to visit potential properties to buy and let, for example, and the impact this would have on your productivity. An increase in travel time equates to a shorter period of time available for work. As a result, you may find your working hours get longer or your work is less effective. Either way, it is vital that you consider the impact this could have on your business immediately and in the long run. Knowing your local market means that people will see you as more knowledgeable and possibly more trustworthy than firms which have branches in every other town or city.
When it comes to properties that you are going to buy to either sell on or let, it is important not to just take on any old building. Be sure to look around several times in advance before making an offer and ensuring that there will be no major work necessary. Buying a house for a very low price may seem like a good idea, but if it is going to require a substantial amount of money spending on it, the profit you dream of making may well dwindle to almost nothing. Having a clear idea of exactly what you are buying and also knowing the neighbourhood in which you are branching out into will really help you avoid making costly, and potentially business-breaking, mistakes.