By its very nature real stat does not lend itself well to cross-selling. Realtors must resort to upselling to improve their earnings. Given the high cost of property it is not easy but still, real estate agents can adopt some effective strategies to upsell to real estate customers.
1. Know the property portfolio you have – in detail
- How can you sell effectively if you do not know what you are selling? Take time out to become thoroughly acquainted with each property that you handle.
- Knowing features in detail helps when you are looking to upsell. For instance, a family may start by looking at a single story property. You take them to visit the property and steer the conversation towards the use of space and privacy. The couple sees the light of the day. You can propose a two story house and succeed.
- Prepare a superb presentation comprising of photographs from all angles of interiors and exteriors as well as a video walkthrough even before you take them on a site visit. Show them one set and then another of a better, higher priced property. They may decide on the latter simply by looking at pictures.
2. Know your customer
- You have to be adept at knowing people after a brief meeting. It helps to use CRM for real estate agents that will help you to enter their details and access the data on your mobile.
- Your CRM profiles buyers and you know their preferences in advance.
- For instance, a couple could be looking for property in a posh area but you start off with a property in a less well-known location and then gently shift them to the higher priced property in a posh area.
- Just mentioning an area is upmarket is not sufficient. Get photos of that location showing the property as well as surrounding areas and amenities
You can sell only if you have customers and getting them is the first priority. This is what you do:
- Develop a responsive mobile website.
- The website should include a map and directions to the property
- The page could display a phone number they can tap to call you.
- Include photos and videos of property and introduce a teaser that you have even better ones in the store.
4. Future prospects
Why should a prospective buyer put down more money when he is satisfied with what he is looking at?
- The answer to this could be several things. One is the future prospect of getting a higher resale value.
- Explain to them how the property they have decided on is just fine but may not fetch a high return if they wish to sell it at some time in the future.
- Explain how they can expand property by additions of rooms or another floor, something that may not be permitted for the property they have decided upon.
- Stress gracious style of life that the higher priced property offers.
5. Stay within limits
- A buyer looking for a $ 300000 house may not be willing to put down $ 500000 but he will consider going up to $ 350000 or $ 375000.
- This means you stay within certain limits of how much to upsell.
- This strategy ensures success.
6. Offer financing support
Most buyers usually have made some sort of financing arrangements but they are still open to suggestions.
- Offer a higher priced property with financing thrown in.
- Financing could be for entire value or for just the difference between budget and the excess.