Real Estate Computing - Essay Example

Because real estate is so competitive, not having a solid plan in place to accomplish these things will set your business up for failure. There are many aspects involved with closing real estate transactions and a realtor must be able to rely on other professionals to work with them to accomplish their objective - which is to have smooth, successful closing. These professionals must know what they are doing, must be reliable as well as utilize ethical business practices. Working with the right professionals will help to ensure that your agency upholds a good reputation so that clients as well as other real estate professionals will want to do business with you.

There are several methods that can be utilized to build your network of professionals and it will be advantageous for you to consider using a combination of the following examples: Your local board of realtors, the National Association of Realtors, your local chamber of commerce, online real estate forums such as ActiveRain.com, and networking organizations such as BNI or Leaders Business Network. These organizations will help you to identify the professionals that you are in search of and gain an assessment of their past performance which will allow you to seek out those with solid reputations.

Establishing a loyal client base is the best way to ensure future business and "long term success". Really, it is the best way to avoid the ups and downs and the unpredictable nature of the Real Estate Industry (Stan, 2004). A detailed marketing campaign should be formulated, followed, and evaluated in order to accomplish this. This plan should include a variety of different methods that fit into your budget. Remember that real estate is a very competitive market, so your marketing efforts should be consistent and you should find a way that your agency can stand out in the crowd.

This can be done by coming up with a catchy slogan or branding techniques. You really want people to know that you are sincere and that you care about their needs, in other words you are not just in this for the money. You will want to utilize a client data base program such as Outlook or Act and ensure that your data base is kept current and accurate. Your data base will be the lifeline of your business so you definitely want to make sure you back it up! The top methods for building your client base are: letting family and friends know what you are doing, target mailings to areas you may want to service, web sites, targeted Internet advertising, article marketing, opt-in email lists, print advertising and attend networking meetings.

Building a solid client base takes time and you should not expect it to happen overnight. For example, you may need to do a mailing to a specific area for six months or more before you get any response. Networking is about building relationships, so don't expect to go to one networking or leads group meeting and walk out of there with a client - you need to show consistency and commitment. Remember, when you are developing your marketing plan you need to identify a way that you can stand out, be consistent,