Tag

drealabs

Browsing

As salespeople, we need to not only master the ways around a Sales Agreement or the Property Market, but we need to be expert communicators as well. It takes a lot of work to generate leads and turn them into qualified prospects. It’s harder still to convert them into clients or customers and unfortunately, many of us tend to give up too early in the sales cycle.

Some interesting statistics indicate that ~50% of salespeople tend to give up after one follow up. If you knew you would be able to turn them into qualified leads after 2 – 5 follow ups, would you do it?

The trouble most people face is that they forget the following 5 Sales Communication tips.

Reach out within 12 to 24 hours

People want to get their questions answered and answered fast. Research shows that the sooner you call, the higher your chance is of converting them. Also, remember to schedule a follow-up call. Most people won’t “bite” on the first contact, so gently request for an opportunity to follow up, whether it is for more information or to personally touch base.

Know your Client’s needs

“Cold calling” is already a thing of the past. With numerous ways to access information about a prospective client thanks to Social Networks and Digital Platforms, a Salesperson can tailor their approach to each client. Pay attention to what they are saying, tailor your pitch to them and keep track of what your prospects tell you, in a CRM system or even a spreadsheet.

Qualify your Leads

Prioritize your leads so you don’t waste time on people who may not have the motivation, means and permission to buy. In some cases, a lead may be interested but isn’t ready to move or buy at this time. In that case, put that prospect into your long-term follow up. Touch base with them periodically through combination of email and phone but not so often that it becomes frustrating for them.

Use a Simple CRM System

If you are not already using a CRM (Customer Relationship Management) software, you are missing out on an essential tool that will help make your day easier. CRM systems allow you to record your contact’s information and track results of your conversation with them. Some CRM systems are also powerful enough to help you automate Tip #3 (above) and keep track of it. For salespersons that are always on the move, opt to use a Mobile CRM system instead.

Referrals

In some cases, your potential clients will not be ready to buy, but might know someone who is. When you have built a good relationship with your potential clients, chances are they will be very happy to pass you some of their contacts and will remember your name when the time comes for them to buy. Don’t be afraid to ask for referrals!

Above all, you will need to take these strategies and make it your own. Find out your angle, story, and strategy and then make it work. More importantly, be yourself.

Brought to you by e27

With property portals, gaining traction can be a double-edged sword; We need to break the cycle of over-crowding

Let’s take a look at the numbers.

Eighty-five per cent of all consumers in Singapore do research online before buying a home. And it usually starts with a simple search on Google. In fact, we have grown so accustomed to going online for information that 66 per cent of all real estate sales today actually starts online.

With statistics like that, it’s no wonder why in recent years, property portals have begun to sprout like wild flowers in Singapore. From PropertyGuru, to 99.co, to SRX and countless others, we have yet to witness a revolution, but we are definitely witnessing a rise in popularity for ‘proptech’.

Success: a double-edged sword

With the global rise in proptech, it is increasingly difficult to ignore the fact that many of the new property portals in Singapore have retained the same fundamental business model. Each may possess its own uniqueness, may vary in certain features, but the underlying vision is broadly similar: provide an online “’classifieds’ platform for advertisers, be it a real estate agent or seller or landlord to advertise, and to charge the advertiser a fee to post his/her listing.

At the onset, the biggest challenge for every new property portal would be to acquire real estate listings and to build up web traffic. As it gains traction, few recognise that its success is also a double-edged sword.

A budding property portal would likely have fewer real estate agents than an established one. For these few agents, this means their listings stand a better chance of being seen, which in turn improves the chances of lead generation. The only downside is that these sites tend to have much fewer visitors than bigger ones.

Sometime down the road, these portals begin to gain traction and generate good traffic to the site. More and more real estate agents start turning to these sites to advertise on them, not recognising that at the end of the day, there are only a finite number of home buyers and tenants visiting each online property portal, viewing a finite number of listings. This is true even for market leaders like PropertyGuru.

The best listings or the most recent ones, make it to the top and are seen while other listings are pushed further and further behind. Without a doubt, this creates an air of frustration amongst real estate agents who are paying to post their listings and feel that they are not getting their monies worth. Most will even consider spending more money reposting their listings just to get it to the top.

To overcome this, most real estate agents will also seek out alternative property portals, even newer ones which are beginning to gain traction but have yet to reach the plateau where success and its fast-growing base of listings becomes a problem.

Some may also revert to traditional media such as flyers, brochures, newspaper classifieds to supplement his/her reach when online property portals become ‘overcrowded’. But all this is only a short-term solution.

For property portals, with the same fundamental model, success and traction may just be the onset of a longer-term overcrowding problem.

Breaking the cycle

To crack the long-term overcrowding problem faced by property portals, these first need to break the equation wherein the reach equals the number of visitors on its site each month. It needs to find a way to reach people both on and off its site, so that agents are not competing for the finite number of people who visit the site, who may spend 5 to 10 minutes on average on each site.

One startup, DREA.sg, believes that the way to do so is by making sure real estate listings are not just on its own property site, but virtually everywhere, even other property sites.

This allows real estate agents to reach home buyers and tenants, not just for the limited time that they spend on a single property portal, but even when they browse away from the site to visit social media platforms and websites such as Facebook, Instagram, news sites, shopping sites and literally, every other website.

To do so, real estate agents can leverage on digital marketing platforms to place their ads virtually everywhere, ideally through an automated process. Automating and consumerising digital marketing for real estate agents is a relatively new and unseen practice within Singapore. For agents, this provides them the opportunity of capturing a portion of the 4 million Singaporeans online daily, in a targeted manner, and converting these views into potential leads.

As this start-up seeks to break the monotony of the property portal, it is possible to vouch that this could be a step in the right direction, particularly in helping real estate agents overcome the limitations of existing digital solutions and to make the full shift in terms of marketing, from traditional channels to the digital realm.

Whether this form of real estate online advertising will replace the current business model (of property portals and traditional media) will be proven in due time.

At DREALabs we want to ask, question, experiment, answer and discuss all things digital marketing and all things real estate.

We see the need to foster and engage with the real estate community by providing an online space, to exchange opinions and thoughts.

We want to examine and uncover the best practices in generating leads online, automating digital marketing, increasing ad traffic and assessing online marketing strategies – through collaborating with, and featuring the best talents and minds in the industry, to bring forth and make accessible, valuable market insights.

We aim to refine existing digital practices and translate upcoming and potential digital marketing ideas, into applicable and functional methods that anyone — tech-savvy or not — can comprehend and adopt.

At DREALabs, we want to tell you what works and what doesn’t in real estate digital marketingYuet Whey Siah, Founder & CEO of DREA.sg

What is PushAds?

PushAds, a simple 4-step platform that allows property agents to choose who they want to target and then push their listings to them when they are on Facebook, Google, Instagram or virtually any other site.

With PushAds, DREA has consumerized a programmatic-direct ad buying platform and made it as simple as an instagram post. But behind the simplicity of the user interface, lies a whole range of Ad optimization algorithms, more than 20,000 unique targeting audience sets as well as exclusion lists. This means that every time a property agent runs a PushAd campaign, the ads are optimized for placement, CPC, quality score on Google and more.
Designed and built together with COVIN ventures, PushAds’ goal is to help property agents tap on the potential of multi-channel digital advertising with algorithmic ad optimization that mimics the proficiency of an experienced digital marketer.
Today, property advertising is a $800m market in South East Asia alone. Only ~10% are on digital, and mainly comprises of fees for listings on online portals.

DREA believes that PushAds will be able to accelerate the shift of property advertising spend onto digital by allowing agents, agencies and developers to tap on all digital advertising channels at once, with the sophistication of an experienced digital marketer.