Share New way of Doing Business in Real Estate - Referral Marketing Program
The real estate sector consists of the property made up of land and the building on it. It also includes the natural resources and of the land, including the uncultivated flora and fauna, farmed crops, and additional mineral resources.
Real estate has three basic categories:
When we talk about investing, residential real estate is less expensive and more feasible for individuals. As a part of the investment, real estate offers you with income and capital appreciation.
Effect of Coronavirus on real estate Sector
Due to the outbreak of coronavirus pandemic, one cannot think of a business that has not been impacted. The same applies to the real estate sector too. However, in comparison to the other sectors, the impact on real estate will be quite less, and it is expected to offer more opportunities for business in the upcoming future.
The virus has hit the real estate Sector to the lowest in March (quarter-end). According to a survey, the residential, as well as the commercial, will face the crises with the price, sales, and launches.
Due to the outbreak, real estate has been affected by the following ways:
Referral Marketing Program
Referral Marketing is an innovative and trusted channel. It is more reliable. This works best because it is built on the most effective strategies that are developed in the market. It is a unique concept because of its tactics. However, the recommendation & word of mouth enables a growing customer base through the network of existing customers.
Coldwell Banker India
The Coldwell Banker India is one of the most established residential franchise systems in the USA. It has been in operation for about 108 years, making it one of the oldest real estate franchise systems. It has now become one of the oldest as well as the forward-thinking real estate brand today.
With over 3000 offices and 88,000 agents, Coldwell has a global presence across 49 countries worldwide. It has now entered the Indian market to organize a fragmented real estate sector in India.
Referral Process: Overview
By understanding the referral process, you will come to know how does referral marketing takes place. Let us understand some important aspects of the Referral process
How referral program creates a difference from the normal methodology
A referral program has its advantages than any other platform. Let us compare the two:
How you can get benefited by using Coldwell Banker Referral Program in the real estate sector
Other benefits like cost benefits, ROI benefits, and client retention can also be achieved. Let us talk about them in brief:
Let us talk about one such business development professional in the real estate sector.
Mr. Mojahid Taj Syed is leading referral program
Mojahid Taj Syed is a working professional with an overall 18 years of experience. He has been designated as Head NRI Sales in India of Coldwell Banker India. Have a look at some important work roles of Mojahid Taj Syed.
Recently, he also released an article on his new business model (V old & traditional – Refer & Earn)
Conclusion
All the successful real estate agents are well aware of the fact that if they wish to make money, they have to build trust with prospective clients. People are much more likely to give you the business if they find their kind of trust factor in you.
Real estate referral programs offer you the opportunity to optimize your sales cycle. This could be done with the help of ROI benefit, cost-benefit, and client retention.
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