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May
06

Growing Your Market Share

Posted May 6, 2015 by in Strategies

Real Estate is one of the fastest industries to grow market share. You can rapidly change your circumstances in a month or two. If we picture Real Estate as a river, it sometimes flows more and sometimes less, depending on the volume of properties being sold. The volume is driven by the marketplace – based on supply and demand.

And because of this – it is not about increasing the flow, it’s about responding to the flow that is there.

There are three keys to growing market share:

Be There

Where specifically? ATT or “At The Table”. If there people thinking of selling in your marketplace and you are not ATT, you remove your chances of winning that business. The main issues of not being there is that your Generating and Pipeline Management is ineffective.

Be the Best

Being the best choice for the client. Make it easy for the client to choose you as opposed to making it hard for them to choose you.
There 4 issues about this:

1. Connect with the client(s)

2. Understand their needs

3. Demonstrate Value

4. Ask for the Business

Sell Through

This comprises the whole sell price, days on the market and so on. To have excellent Sell Through, it should be driven by 4 key components:

1. Process

2. Seller Management

3. By-Out Management

4. Skills and Strategies

That’s what it takes to grow your market share! Be ATT, make it easy for the client to choose you and have excellent sell through. Now, because the market volume is set, every property you list, that’s one less for other agents – and you will quickly grow your market share with the use of the three keys above.

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