Real estate brokerage is a sector that has been experiencing historic growth in recent years. This growth has been driven by the rise of online channels and the resulting need for brokers to be able to engage with their clients on multiple platforms. However, it hasn’t always been this way—in fact, just 10 years ago brokers were still using email as their primary means of communication with clients and prospects alike. But then Facebook emerged as an advertising platform that allowed real estate agencies to target specific groups or individuals based on demographic information provided by users themselves. Suddenly it was possible for brokers to reach a greater number of potential customers at once than ever before, which led many firms to jump on board with ad buys on Facebook immediately after its introduction in 2007 (and some even before).
The current state of the real estate industry
The current state of the real estate industry is one of flux. The average age of a real estate agent is 60, and many agents are struggling to stay relevant in an increasingly competitive market. They are facing stiff competition from new players like listing sites and home value estimators, which have made it easier for clients to be more informed than ever before.
In spite of these challenges, there’s still hope for those who want to succeed as an agent. According to research conducted by Realogy Holdings Corp., 90% of consumers said they prefer working with people they know or trust over strangers. This means that if you can build relationships with clients—and keep those relationships strong—you’ll be able to thrive in today’s evolving business environment!
Rise of company-focused business relationship management
If you’re a real estate broker, the most important thing you can do is to follow the lead of your industry leaders and invest in business relationship management. Business relationship management (BRM) is about building trust, loyalty and long-term relationships with clients. It’s not just about making sure that every client is happy—it’s also about understanding what they need so that you can give them what they want. BRM involves:
- Listening carefully to understand why your clients are interacting with you in the first place
- Having empathy for their needs
- Understanding their history with other companies or businesses
How WhatsApp fits into a company-focused BRM strategy
WhatsApp is a great tool for real estate brokers to use in their business-to-business relationship management strategy. Here’s how:
- WhatsApp can be used as a means of communication with clients and other brokers, including those outside of your immediate network. As the mobile messaging app is available on all devices, it makes sense to use it when you’re out and about or travelling. This can help you seem more accessible than competitors who don’t have access to WhatsApp (or similar apps).
- Whatsapp has many advantages over other forms of communication like email or text messages; it allows users to send pictures, videos, files etc., which makes sending information much easier than through other mediums such as emailing attachments or using SMS/text messaging services where there are limitations around file size etc..
- The service also has an attractive pricing structure whereby users pay per message sent rather than monthly subscription fees; therefore making this affordably priced method ideal for small businesses looking for cost effective ways at reaching new customers without breaking their budgets!
WhatsApp can differentiate you from the competition
WhatsApp is the most popular messaging app in the world. It has over 1 billion users, making it a great way to connect with customers. But WhatsApp’s popularity goes beyond connecting with people: it can also help you build your community and cultivate relationships with customers on an ongoing basis, which is why we’re seeing more real estate brokerages and agents across the country adopting WhatsApp as a key part of their business strategy.
WhatsApp offers several features that make it ideal for building relationships and working with clients:
- You can create groups so that you can communicate directly with everyone at once (e.g., all of your clients). This makes communicating much easier than they would be if they had to go through their agent every time they wanted to ask something or get information about their account.
- You can send messages directly from the app without having to log into Facebook Messenger first (though you do have this option if you want). This means people will only get notifications when there’s actually something new happening in their group chat rather than every single time someone adds another friend from school days ago who now lives halfway around the world somewhere else!
We’ve seen how WhatsApp can be an effective tool for real estate business. It enables companies to communicate directly with consumers, which makes it easier for them to develop relationships and ultimately close more deals. This is why so many brokers are jumping on board with using WhatsApp—and why they’re seeing such a high return on their investment!