It is no secret that selling is an art and it has anything to do with convincing consumers to buy snake oil. Real estate developers are learning a new language to approach potential buyers. So how does a seller become the ‘king of real estate’ without sounding like a petty salesman.
Most industries have gone through radical changes in their sales techniques, this is quite opposite to the real estate market that has only experienced a change in the size of the advertisements that they put up in newspapers or other mediums of propaganda. Many times, it becomes the case that the real estate agent does not quite understand the kind of apartment projects the buyers are looking for and they end up making deals for houses that they personally thought the buyers would have rejected. Sometimes, the buyers also lose interest and move onto the next real estate agent whom they think is better suited for them as the present one cannot help them locate properties that they are satisfied with. Thus, the main question here is, what are the modern marketing tactics in realty business that should be indulged in to get the desired results to sell apartment projects?
The danger of the realty loop of agents
Avoid falling into a rut and try to catch the builder directly.
Most real estate agents ask standard questions such as:
- How many bedrooms do you need
- How many bathrooms do you require
- The square foot of the apartment
- The need for a garage or basement
While these questions are relatively simple and can be logged into a database and lead to an easier search for the luxury apartments in Bangalore for sale as the questions are quite objective, they do not lead the agent to discover more about the actual needs of the client. Thus, such mandatory questions should be avoided. Agents should ask more open-ended questions that will elicit detailed answers from the buyers. Hence, the buyer will not be restricted to just “yes” and “no” answers to mundane questions. Because some buyers do not really give importance to bedrooms, they might be into cooking and may be searching for ostentatious kitchens to fulfill their desires instead. Moreover, the focus should be on building a relationship and not just complete transaction. Any expensive property is sold to a person, not because he is wealthy and can afford it. Inspiring confidence and trust will make the deal sweeter.
Probe into the desire of the buyer
Getting an in depth scope of the requirement will open the doors to understand the potential buyer.
Let there be no confrontation while asking questions. Well, it is part of the job. It will lead to clarity about what kind of luxury villas the buyers have conjured up in their minds. Even though there might be a few hit and misses, the buyers appreciate the fact that the agent/builder is thinking along the same tangent as them as opposed to having a real estate seller who is drifting away from what the buyers really want. It is a good idea to repeat the need that the client has just spoken about like, “I understand that you need a big hall with ample of ventilation?” Try including trade offs if you find that the specific kind of property they have in mind may not be available. For example, “would it be okay if a large formal dining area is provided instead of a big hall?” Maybe it may pique the interest of the buyer as he never thought of it before.
Being the Ace of the pack of cards
Toeing the market trends is essential for any real estate person. Knowledge of the latest in the industry is powerful arsenal to tap a potential customer.
The realty agent or sales person, if hired by the builder, should have as much raw data about the real estate market as possible to answer all the queries of the buyers aptly and correctly. When the buyers describe houses, the agent should know which area will provide such houses. Knowledge of such information will come when one sets aside a designated time to look at new listings and visits open houses, especially set up for brokers. Networking with peers is also a way to provide the buyers with a good experience as the agent will then only have positive answers to give when the buyers ask them for a certain requirement.
PS: Don’t go by the generic myth that the customer is always right- you may be correct also if the property can be sold by itself.