Some pretty good answers, but I think the piece that’s missing is the human contact piece. I think technology is good to HELP develop leads, market and follow up with clients, but the real estate business is dealing with people.
Statistics show time and again that the home buying process is more emotional than logic, or strictly financial. Therefore, developing a degree of personal trust is important. Buying a home is a lot different thing than buying other products online. There’s a lot more emotive part to the process.
Somewhere, someone has to meet with the buyer/seller, I would think. It could be an associate or employee, but I think the personal touch is still required.
With all that said, I do believe a lot of pre-screening and information gathering and dissemination can be done through various communicative technologies. But I have yet to see a robot or database respond to “we really like a warm cozy fireplace on a cold winter’s night, don’t you?” Now someday a wearable product like “Google Glasses” might be able to “read” retinas and body language and make judgement about emotional “probabilities,” but I personally would find such technology obtrusive and impersonal, not something I would want to trust in judging a several hundred thousand dollar purchase with.
There is no such thing as an online real estate business.
The reason I say this is because real estate is inherently embedded in the real world due to it being, well, a physical asset. You’re dealing with such a sensitive product and experience for someone—their home and investment.
You need to first spend time with anyone and everyone who breathes real estate or real estate technology. This will save you a ton of time before jumping into it with little idea of which direction to head. Ask them many questions and take notes.
Even if you’re just planning on starting a listing service or some pure online platform, you still need to understand the whole ethos of real estate and how it functions in order to build a successful business around it.
All stakeholders in the Real Estate industry and technology space care immensely about customer service, so the best way to start and promote your real estate business is to provide an amazing experience and work hard to bring in new business that then evangelizes your services:
- Hustle for your first clients.
- Do whatever it takes to start getting evangelists. These are your first organic referral channels.
- Build a robust real estate website optimized for organic search, and with engaging features to capture and convert leads.
- Plug into platforms either paid or organically such as Zillow, Thumbtack, Nextdoor, and Yelp for new leads.
- Explore your typical digital marketing channels: Adwords, Paid Social, Content Marketing
- Attend a local real estate Meetup. Spend time with local government organizations focused on local development and regulation (for example, for me it’s San Francisco Apartment Association or SPUR in the Bay Area).
As Chris Michaud mentioned, transacting on real estate is an emotional process. It’s important you operate in a way that makes each customer feel like they’ve had a personalized, dedicated experience working with you.
You will only grow as much as your service is worth.
How to Promote Real estate business?
There are several ways to promote the real estate business. You could make use of several social media sites like Facebook. Since this is a business, LinkedIn would also be a good place to promote such kind of business.
In LinkedIn, there are a lot of professionals there that would be a good venue for you to find your clients. However, if you have enough investment to work on, you could make use of mobile applications.
You may also try websites like Drip It Good to promote your business for you. This way maintaining your clients and monitoring them at the same time would be no hassle since they could provide those services for you.