Running a successful real estate company agency is not a walk down the hill - just like any other business. You need ambition, motivation, strategy, and a financial plan. According to research, it’s a common adage that 3 out of 4 real estate agents in Kenya fail within the first five years. But for those who have what it takes, starting your own real estate business can absolutely give you the seven-figure job of your dreams.
Among the misconceptions that people walk into the business with is that they underestimate expenses and overestimate income, a deadly combination. However, there are a few vital skills that one must first master putting into consideration that a real estate agency is a business like any other. These skills may include photography skills and the ability to write compelling descriptions about listings. This will go much farther than selling skills.
Now let us dig into what it takes to run a successful real estate agency in Kenya.
It’s not always about selling
Any entrepreneur is hungry for a sale and there is nothing wrong with that. However, it is advisable that you should think more like a consultant, rather than a salesperson for you to achieve the best. It goes without saying that good sales skills are very beneficial for any real estate firm in Kenya, but finding your unique focus will most definitely make you stand out among the very many agents in the country. Lesama Limited has a good record in providing consultancy in matters real estate to help their clients make better decisions when it comes to buying, selling, or management of properties.
Align your marketing plan
An excellent marketing plan is among the most important things required to achieve a top real estate company in Kenya. According to The Balance, it is vital that you take time to understand your market and customers. Identify what sets you apart from other real estate agents.? Develop the right tools and skills to ensure your business grows, and educate yourself on any important skills that you currently lack.
Your marking plan should include both the traditional marketing methods and the digital marketing plan. Create a database and categories them so that you have an easy time while conducting target marketing.
Goals. Goals. Goals.
Business goals for Kenya real estate companies are like a map to your destination. They give you a sense of direction to what you are working on. Have them written down so that you are able to track and measure them in order to know if you are working well and what needs to be done to reach where you want to be.
The goals should be time-bound, realistic, specific, actionable, and measurable. Well set goals is a sure bet to success.
Have A Budget
Early-career real estate agents make the mistake of focusing on immediate successes, like getting the first client or making the first sale, and forget to check on their expenses. It is advisable not to spend all your money trying to close a sale because your company is expected to remain in business whether you close the deal or not. Remember to always have a portion set aside as a cushion for growth and emergencies.
Get a website and social media presence.
According to Hubspot 44% of all buyers of real estate, the very first step they take in their home search is to look online. Lesama Limited website has played a major role in closing a deal as it provides the best brand awareness.
No matter how much local marketing you do, you need a web presence to attract and engage online leads. It may cost a little money up front, but a solid, SEO-focused website that lets you integrate IDX listings and usher those leads right into your CRM is a crucial foundation of every successful real estate business.
Once you have this asset in place, you can start moving toward a consistent blogging and social media strategy to generate more leads.
Establish Good Relationships
The greatest treasure for any real estate business is strong customer relationships. If you carefully listen to the needs of your customers you will be in a better position to deliver accordingly. With good relations comes numerous referrals which is a great deal for any real estate agency in Kenya.
Put more effort in mentoring and guiding rather than being sales oriented. Be keen to perpetuating good connections with your past clients and referral sources. Keep in touch with your clients and thank them for doing business with you. Make them feel appreciated.