Many real estate companies have already come to terms with the fact that the customer is the boss. If customers are not happy, they can sack anybody in the organization by spending their money elsewhere. So, the question is: How can a real estate company keep its customers happy and loyal?
In the fiercely competitive real estate market, building loyalty is not easy. And when customers have so many options, how can a company ensure that they will choose them over their competitor? The solution is to provide value. If the company consistently provides value to its customers, they will keep coming back.
How to provide value
For some companies, providing value means lowering their prices. Retailer Walmart specializes in this. Aggressive pricing is undoubtedly a great strategy because customers are always looking for great deals. Startups can easily grab their market share by lowering the price of their products or services. But this is not a foolproof strategy. In fact, it can backfire when prices eventually go up and then the customer will look for another company that offers ‘deals’. The key is to create loyalty to the brand and to the company and not just for the price. Discounts, sales, introductory offers, etc., are great for attracting customers initially. But if the company wants the customer to come back when the prices go up, they will have to establish great relationships with the customer.
If building that kind of customer loyalty is the goal, the company has to deliver value through all channels and during every interaction with the customer.
You can enhance your relationship with the customer in many ways. For example, if you run a website, you have to ensure that it is quite easy to navigate. Your website should be pleasing to the eye and should have fresh and meaningful content.
The agents who attend customer calls have an even bigger responsibility. They should greet customers with a friendly and helpful voice. And they should be knowledgeable enough to answer customer queries. The impression that the customer gets when s/he walks into your office should be consistent with your brand values.
Social media is also a great platform to provide value. You can regularly promote your new launchings on Facebook. And on Instagram, you can upload great photos of your upcoming projects. These are great ways to stay connected with the customer. But remember that fluff will not sell. You need to provide real substance.
To provide value, a company doesn’t have to talk about prices or the quality of their products. Instead, it should treat the customers with the respect they deserve. Remember that if they are not happy with the service they receive from you, they will go to the next developer. When you provide real value, the customer will buy your products with passion. And when the customers are passionate about your brand, they will be less sensitive about the price. In fact, they will readily spend more. They will even recommend your projects to their friends and relatives. Ideally, creating this kind of customer loyalty should be the goal of every real estate company.
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