4 Ideas On How To Increase Sales In Real Estate

The Most Important Factor In Real Estate Sales

Realis is a Latin word meaning 'existing and true'. According to Etymonline.com, real is used in a legal context in Middle English referring to permanent property, like a house, building or structure, as opposed to personal property, for example clothes or furniture.

The saying "location, location, location" is very relevant and remain to be the most crucial factor for success in real estate investing. Nearness to facilities, green area, scenic views, and the neighborhood's status influence strongly into residential asset valuations.

Five general categories of real estate which comprise of: 

1. residential
2. commercial
3. industrial
4. raw land
5. special use

While broadly acknowledged and well-regarded in the industry, understanding the four concepts is frequently the subtle key to success selling properties. These four concepts are commonly known as the 4 P's of property management: 

• People

• Price

• Promotion

• Product

When you're looking for the perfect sales agent, here's a suggestion of eight qualities to consider:

1. Communicate clearly and regularly with their prospects
2. Proactive with the selling process
3. Listening
4. Client-motivated
5. Know the local area
6. Aware of clients time frame

Real Estate Agents have had a bad reputation over the years labelled as sales people without ethics, but agents who enthusiastically demonstrate honesty and integrity are more successful in getting a sale. These agents also sustain longer in their career journey.

The most successful agents in the country, many of them consider themselves as introverts. As a matter of fact, an all-inclusive Penn State meta-analysis concluded that extroversion and sales almost have no correlation at all. You don't have to be an extrovert to succeed in real estate sales.

The type of real estate that makes the most money, almost six figures on average, is the commercial real estate agent, who came in as the highest income out of all the agents surveyed. Becoming proficient in commercial real estate selling requires more training — but it was proven that more training pays off.

Selling a piece of real estate takes some critical strategy. Just like selling any other kind of property, specific ways of advertising, showing and creating contracts on a real estate would need to be particular to that kind of property to be effective.

The methods that one may use to sell a condo or an apartment may be slightly different.

Moving on, you also want to...

1. Know the rules and guidelines

Real estate will have specific rules about who can and cannot own them. There is no point selling to someone only to find out the piece restricts them against holding them. Particular real estate associations also require pre-approval of the buyers, so it is essential that you consider all of these things before even listing to avoid complications.

You will filter through a lot of unsuitable buyers and therefore increase your chance of selling.

• Real Estate 10 percent Rule

One of a good rule is that every 1% increase in interest rates equals to less 10%  you are able to take the loan but still maintain the same monthly installment. The whole concept is when interest rates increase, every 1% increment decreases your buying power by 10%. The higher the interest rate, the higher you pay every month.

• Real Estate 4 Percent Rule

The 4% rule recommend that retirees can safely withdraw an amount equal to 4 percent of their savings during the year they retire, and then adjust for inflation each following year for 30 years. This rule is a simple rule compared to a hard and fast rule for retirement income.

2. Price your real estate competitively

No sensible buyer will buy a property that costs a lot more than others which are similar. If they know they can get the same real estate or similar for cheaper, then they will. Look at how much other real estates in the area are selling for, and either match that or keep very close within the price range of it. Don’t put off potential buyers by being too expensive.

3. Make it look appealing

With any property, buyers need to be able to see the potential of a real estate. If they go for a viewing and it is messy or poorly maintained, people may be put off. Everyone is good at using their imagination, but there is only so far it can stretch.

Plus, buyers don’t want to feel like they are buying a piece of real estate that will give them a lot of work to do. Not everyone is looking for a DIY project when buying a property. Some want a ready-made piece they can live in immediately.

4. Be boastful

What is good about the real estate you are selling? Why should someone buy it over another which is cheaper or at the same price?

Put your best foot forward and let potential buyers know what makes your property stand out. Chances are, that will be the selling point that will increase your likelihood of making a sale.

When it comes to honing your real estate sales techniques, staying on top of tried-and-true methods is essential for long-term success. Whether it’s improving your client communication or adjusting your marketing approach, the right sales strategies can set you apart.

For more comprehensive advice on real estate sales techniques, take a look at this detailed article here. With the right tools and ideas, you can make sure your sales process stays competitive and effective.

SIDENOTE:

Pasdec to Sell Land in Kuantan for RM68 Million

I came across an interesting news about a property developer called Pasdec. They're selling a piece of land in Kuantan to a company called Petroluxe Refinery. This is a big deal for Pasdec, as they're expecting to make a cool RM68 million from the sale!

This is great news for Pasdec, as this money will help them pay off some debts and free up some cash for new projects. They haven't said exactly what they'll be using the money for yet, but it's exciting to think about the possibilities! The sale is expected to be finalized by the end of the year, so we'll have to wait and see what Pasdec does next.

This got me thinking about buying and selling land. Have you ever thought about investing in property? It can be a great way to make some money, but it's also important to be careful and do your research before you buy anything.

B2B Property Sales in Malaysia: A Quick Guide

B2B property sales are a complex process, but they can be very rewarding for both the buyer and the seller. If you are considering selling B2B property in Malaysia, here are a few things you need to know:

The Process

The B2B property sales process in Malaysia typically involves the following steps:

1. Prospecting and qualification: Identify potential buyers who are in the market for the type of property you are selling. This can be done through a variety of channels, such as attending industry events, networking with other professionals, or using online lead generation tools. Once you have identified a potential buyer, qualify them to make sure that they are a good fit for the property. This will involve assessing their needs and budget.

2. Marketing and positioning: Once you have qualified a potential buyer, develop a marketing strategy that is tailored to their specific needs. You will also need to position the property in a way that highlights its benefits to the buyer's business.

3. Negotiation and closing: Once the buyer is interested in the property, enter into negotiations with them. This will involve discussing the price, terms, and conditions of the sale. Once both parties have reached an agreement, close the sale.

Tips for Success

Here are a few additional tips for selling B2B property in Malaysia:

• Build relationships: B2B sales are all about relationships. Take the time to get to know your potential buyers and understand their needs.
• Be patient: The B2B sales cycle can be long, so be patient and persistent.
• Be an expert: Make sure you are an expert on the Malaysian property market and the type of property you are selling.
• Be professional: Always be professional in your dealings with potential buyers.

You can increase your chances of success in selling B2B property in Malaysia by following these tips.

I hope this blog post has been helpful. If you have any questions, feel free to leave a comment below.

Disclaimer: This blog post is for informational purposes only and is not intended to be financial, legal, or professional advice. The views and opinions expressed in this blog post are my own and do not necessarily reflect the views of any other individual or organization.