6 Steps to Success in Real Estate

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6 Steps to Success in Real Estate

  1. 1. RE/MAX Mumbai – Gujarat – Maharashtra 6 STEPS TO SUCCESS MANAN CHOKSI REGIONAL DIRECTOR RE/MAX MUMBAI GUJARAT MAHARASHTRA
  2. 2. Service Marketing • Services are intangible • Building relationships and working together with the clients • Service providers must be selective in choosing prospects RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  3. 3. Marketing • Types of services you offer • How you position and package your service • What you charge • Your marketing material such as ads, webpages • Presenting yourself in meeting • Treating clients • Networking events • Referrals RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  4. 4. Myths Of Marketing • Marketing does not work • I have tried insert marketing and it doesn’t work • I don’t have time for marketing • Marketing is a waste of time and money • People who provide great service don’t need to market • Marketing does not work in my industry RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  5. 5. Successful Marketing • Setting campaign goals and metrics • Narrowing your focus • Identifying what prospects want • Clarifying your marketing message • Attracting clients • Testing and tracking RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  6. 6. Steps To Follow • Create the service • Educate the prospects • Building the rapport • Demonstrating the passion • Putting client interest first • Providing excellent service • Keeping in touch RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  7. 7. 6 steps to success • STEP 1. GOAL SETTING • STEP 2. TARGET AUDIENCE • STEP 3. MARKETING MESSAGE • STEP 4. EDUCATION BASED MARKETING • STEP 5. REFERRAL MARKETING • STEP 6. YOUR MONTHLY MARKETING PLAN RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  8. 8. Step 1: Goal Setting – Personal • What are your strengths • What do you love most about your business • Which areas do you enjoy/prefer? Why • Which areas you have experience in ? • What type of people you like to work with? • Describe your ideal life 5 years from now? Where do you see yourself? What are you doing? Who are you working with? RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  9. 9. Step 1: Goal Setting – Lifestyle • Balancing work with life • Days of vacation you will take • Activities that give sense of meaning and pleasure • What do you think most of the time • What would you do if you have all the money • Ideal lifestyle 5 years from now? Your net worth? Your family ? House ? Car? Organization? RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  10. 10. Step 1: Goal Setting SMART Goal Setting • Specific • Measurable • Achievable • Realistic • Timely Exercise: Set goals RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  11. 11. Step 2: Identify Target Audience • Specific need or want for your product or service • Have the ability to buy your product or service • Are willing to buy your product or service Reaching prospects in affordable budget • Picking a narrow target audience • Focusing solely on them to understand needs, concerns, motivation and behaviour • Presenting yourself as a specialist RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  12. 12. Step 2: Identify Target Audience Choosing target market • Easy to reach • Small enough to be manageable • Fit with personality and strengths • Profitable • Underserved Exercise: Define target market RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  13. 13. Step 2: Identify Target Audience Ideal Clients • Action Oriented • Collaborative • Focused • Inquisitive • Resilient RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  14. 14. Step 3: Marketing Message Differentiating Factor • Specific to target audience • In line with your strengths Unique Selling Proposition (USP) • Target audience • What will you do for them • How different from others • Your solution to target audience RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  15. 15. Step 3: Marketing Message Exercise : Problem – Solution – Benefit of solution RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  16. 16. Step 3: Marketing Message 15 second speech : I help (prospect) Who are having problems in (problems of prospects) To achieve/get (results by working ) In (convenience) Do you know (anyone with same) RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  17. 17. Step 4: Education Based Marketing Client Buying Process • Become aware • Gather information • Evaluate the options for them • Take the action • Re-evaluate the options RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  18. 18. Step 4: Education Based Marketing • Information Gathering Stage - Trusted sources - Gap in knowledge - Educate, educate, educate • Prospecting: - Cold calls - E-mailers and fliers - Door knocking - Guidance and seminars RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  19. 19. Step 4: Education Based Marketing Prospects might • Visit your website • Request a free guide • Join your email list • Listen to your advertisements • Read your blogs • Read an article you would have written • Might attend a seminar that you are holding RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  20. 20. Step 4: Education Based Marketing Prospects need • Information that is specific and valuable to their specific wants, needs and concerns What is in the Prospect Mind • Is he credible? • Can he/she do what he/she says? • Can I afford his fees? • Is there another better agents? • Can I trust him? RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  21. 21. Step 4: Education Based Marketing Sales • Who is contacting you ? • How did they find you? • What stage of decision making process they are ? • Are they qualified to do business? Decide whether: Inquiry OR Lead OR Qualified Lead RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  22. 22. Step 4: Education Based Marketing Qualified Lead • How long have you been looking to buy? • Where do you live, how long you have stayed? • Are you renting or wanting to own? • Will you need to sell existing to purchase new? • Have you seen homes that you liked? • How soon do you want to move? • What price range are you considering? • Any special requirements for home? RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  23. 23. Step 4: Education Based Marketing Sales when • Ask questions to uncover buyer’s priority • Listen to what prospect says • Explain home buying – selling process • Explain how you are different from other agents • Explain why you are worth the fee • Handle objections • Get your prospect to sign a contract RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  24. 24. Step 5: Referral System • What kind of referrals you want? • Be specific • Set an expectation of the referral • Ask for referrals at celebratory moments • Ask for referral on transaction completion • Hold contests or give referral bonuses • Client appreciation events • Articles or Thank you gifts • Partner with other professional RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  25. 25. Step 6: Monthly Marketing Plan •Goals •Referral Partner marketing •Past Client marketing •Prospecting •Other activities RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
  26. 26. THANK YOU RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com

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