The Changing Face of Pattaya Real Estate Agents
By Glenn Cowan
It’s probably fair to suggest that the real estate industry has always been competitive. However, more recent global financial events can only have strengthened that synopsis.
In the local area we have seen a good number of well respected agents decide to close down, sometimes of course the decision was taken away from them completely.In a world that is constantly changing, real estate has had to adapt and change, taking on new approaches along the way. Adapt or die isn’t too strong for what’s going on!
Like most business transactions, trust plays an important role.Renting or indeed buying a property is one of the most significant decisions we make in our lives. This is elevated even further when the potential move includes a full relocation from one's birth country.No one can make a decision of this magnitude without being able to trust the other party and the offerings that are put on the table.
It is therefore essential that the realtor is able to communicate trust to their potential clients. Inability to communicate anything other than complete trust will very often lead to serious implications for both buyer and seller alike.
Elements that should be considered by both parties here include business premises, referrals from existing clients, not to mention how you train your staff and the consistency of their approach. Of course one aspect that has become exponentially important is the way your business is viewed from an online presence. Let’s face it, everyone is on the internet these days and as a consumer you could quickly get a short list of potential real estate partners inside a 20/30 minute session of Google.
Communication is an Art Form
All consumers would like to feel that their chosen seller is available post-sale for any contingency. In the case of the realtor, most professional agents would probably share the above sentiment.However, things don’t always run according to plan. Often a seller will be working on multiple sales leads and could potentially find it difficult to manage each one at precisely the same time.Going incommunicado only serves to heighten consumer anxiety and will go a long way to challenge the trust factor that has been built up.
Some forward thinking agencies have invested in forms of communication technology, possibly allowing for remote handling of calls. Others use sophisticated property systems to make sure that consumers find it as easy as possible to pursue their enquiry.
Finding your own Niche
Some real estate agents started off as purely sales outlets and didn’t want to or feel it was necessary for them to deal with rentals.Of course this is an individual decision on the part of the property agent concerned and no real right or wrongs. However, recent times have seen even the most hardened agents embrace the rental market place. Some of which make a very tidy living from it and would never want to step away from it.
The important part here is that your brand message is consistent and your potential clients can identify with each relevant part of the business. If rental is important to the overall health of your business then give it the precedence that it deserves. Market it in the right channels to make sure you reach out to your potential new clients.
Your Next Deal and the ones After That!
Days gone past and you would probably have felt that there were a much healthier balance between available properties and potential clients.The stark reality for many realtors is that this has been turned on it’s head. The power of the internet has made it possible for some newer agents to get started and position themselves nicely in whats often referred to as a shrinking market.Keeping up with these upstarts isn’t as hard as it might be. Remember, trust is something that takes a long time for new entrants to earn. So really any existing agent should be able to leverage this to his or her advantage.
Engagement with potential clients is one of the hardest things to do, it also happens to be one of the most lucrative when done right.To engage properly you will need to know just who these potential new clients are? Where are they based? How can you get your key message in front of them? What type of media are they most likely to respond to?
All of the above are vitally important if you are going to break away from just waiting for the phone to ring or the email to come in.
The Competitive Edge
You can choose to “reach out” in any number of ways.
Social Media marketing plays an important role in creating brand awareness; however, the difficulty for most agents is that they rely far too heavily on purely promoting their offers. Pushing out post after post on this condo and that condo.Believe me, this is a really hard way to build any real form of engagement!
Reality check. When was the last time that you saw a Facebook post for a property that you shared or even commented on? The old principle of throwing enough mud on the wall and some of it will stick has sadly had it’s day.Much more is required in this fast moving marketplace.
Canny realtors provide information on how it would feel to relocate to a specific area. They very often share features and articles of education, hospitals, plus things to do and see near to their property hub.Other ways of gaining fresh clients include effective marketing of your website so that it is visible when “ready to spend” searchers look for your services.
One of the most effective and controllable ways of achieving this is to advertise on a pay per click (PPC) basis. Google AdWords is the most widely known of these formats and can help to produce near instant results. The ability to market a particular part of your business and keep this separate from other areas is one of the most appealing aspects of a well constructed AdWords campaign.
The Wrap Up
Staying ahead in a busy marketplace means delivering exceptional service, creating trust through consistent messages, understanding your market and how to reach them.The realtors that adapt and move forward will most likely be the ones that enjoy the success that they are searching for,
What are you going to do different during 2016?