The real estate business has gained huge popularity throughout the world in the contemporary times and India is of no exception. The number of real estate companies in India is increasing with each passing day. However, very few among them have made it to the top. Now the question comes, what exactly happened with others and where they failed? Real estate business is indeed different from its counter parts and it has several unique points which need to be followed in order to reach the top of the real estate business. Here we have come along with seven mistakes that novice real estates agent make.
No concrete business strategy: Proper planning is required for every business, no matter what. There are certain things that you need to ensure before you get your license to establish your business legally. For a concrete plan you need to ensure what exactly your goals are. Next is, you need to make out the plan, what are the convenient services you would like to provide to your customers. Your funding is also an important factor that requires consideration. Based on your funding you would determine your budget and the marketing plan.
Rejecting the idea of using best closing team: When you are in a real estate business rejecting the idea of using the best closing team would cost your really big. A closing team is the one, who converts your leads into clients as they close the deal with them. A very prospective client would go out of hand due to inappropriate dealing just the last moment.
Not using the necessary tools: A business is incomplete without the appropriate tools it demands. It is always necessary to invest on tools that are of utmost importance to your trade. You might loose many businesses due to the lack of it.
Lack of funding: Every business requires investment to lay the basic foundation of it. It is imperative that you should take some time out and make a budget, if you have stringent funds. For funding you can also take loan from the financial institutions and banks around. A statistics says, almost 90% of the business fails due to lack of funding. Never expect earning from your new business, at least till your business is two months old.
Lack of Marketing: Marketing is the most important tool that a business can have. Proper marketing can create awareness for your business and build sound network which is required for the success of any business. In such a scenario, when you refuse to spend on marketing, it is the worst mistake that you could do.
Not focusing the target market: When you are spending money on real estate marketing, make sure you are spending at the right place, so that your target market get aware of your moves.
Choosing wrong brokerage: New real estate agents often choose the wrong broker for several reasons- are it their good reputation, or may be because they offer very low rate. Always remember, the brokers you choose have a lot to do with the business you are in.
Article Source: http://www.abcarticledirectory.com
Shankar is a professional content writer and Indian real estate market research analylist. To read informative articles on Bangalore real estate, including luxury villas in Bangalore.
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