4. RE/MAX Mumbai – Gujarat – Maharashtra
“My agent didn’t get back to me.”
This problem is world wide.
Communication with a lead is the
biggest problem.
Sellers and buyers both feel that
agents are not really working unless
they are updated regularly about
the progress.
5. RE/MAX Mumbai – Gujarat – Maharashtra
Most real estate agents believe
that lead generation is the
only work of their business.
They don’t know what to do
once they get the lead.
They over commit while
getting mandate, hence they
fail to meet expectations later.
6. RE/MAX Mumbai – Gujarat – Maharashtra
Agents should understand that money
may get generated if the transaction is
done, but profit is generated out of
referrals.
So whenever a lead is generated, excellent
service should be given, so even if the
transaction is not done, the prospect
passes leads to the agent.
Every lead gives a tremendous opportunity
to build good will in the market: don’t
squander it
7. RE/MAX Mumbai – Gujarat – Maharashtra
Get the details of
the lead
Define deliverables
and explain service
Property Listing
Form and exclusive
mandate
Ensure that price is
right
Search matching
buyers on various
platforms
Post and advertise
listing
Prepare and send
brochure of the
property
Coordinate
Property Showings
Follow-up and
close
Documentation
and Legal
Paperwork
Registration and
move-in processes
Invoice and
customer feedback
8. RE/MAX Mumbai – Gujarat – Maharashtra
Sometimes there are improvements required in a
property which make it more:
◦ Easily Marketable
◦ Get a higher value
◦ Widen the market
For example:
◦ Painting, repairs and refurnishing
◦ Getting documents in order
◦ Making it vaastu compliant
9. RE/MAX Mumbai – Gujarat – Maharashtra
Post it on RE/MAX
portal
Put a yard sign /
Banner
Post it on
Magicbricks /other
portals
Make brochure in
Design Centre
Inform in RE/MAX
Network and
Broker Network
Make a PowerPoint
and put it on
SlideShare
Write a blog on it
and mention
property URL
Make YouTube
video on property
and tag it
Put it on your
Facebook page
Advertise in
newspaper with
property URL
Do postcards
/flyers
Include the listing
in the office
newsletter
10. RE/MAX Mumbai – Gujarat – Maharashtra
If you have got a 3 month exclusive mandate it is a
good idea to update the customer every week on :
◦ Activities you are doing for the property
◦ Response you have got
◦ Buyer feedback
◦ Any changes in offer you propose
You can give over phone or email
12. RE/MAX Mumbai – Gujarat – Maharashtra
A buyer’s market is ideal
A seller’s home was Rs.20,00,000 and based on the
current buyer’s market must take 5% less or
Rs.19,00,000, a loss of Rs.1,00,000. Their next home
would have had a purchase price of
Rs.40,00,000, however, due to the buyer’s market they
can buy it for 5% less or Rs.38,00,000 – a saving of
Rs.2,00,000.
The seller saves Rs.1,00,000 by selling and moving up
in a buyer’s market.
Now if prices bounce back and go up 5%, your seller will
gain Rs.38,00,000 x 5% = Rs.1,90,000 whereas if they
stayed where they were they would only gain
Rs.19,00,000 x 5% = Rs.95,000. A net gain of
Rs.95,000 (double)!
13. RE/MAX Mumbai – Gujarat – Maharashtra
Same rules apply:
◦ Communicate well
◦ Have a process in place for all kinds of leads
◦ Ensure that you have exclusive mandate
before incurring a cost
◦ Maintain proper records
14. RE/MAX Mumbai – Gujarat – Maharashtra
Get the details of the
lead
Define deliverables
and explain service
Property
Requirement Form
Understand Need,
Wants, Concerns and
clear requirements
Search matching
property on various
platforms
Post requirements
Prepare and send
brochure of
matching properties
Coordinate Property
Showings
Follow-up and close
Documentation and
Legal Paperwork
Registration and
move-in processes
Invoice and
customer feedback
15. RE/MAX Mumbai – Gujarat – Maharashtra
Some times we get builders who want to market
projects with RE/MAX
Ideally you should do the following steps:
◦ Evaluate the project vis-à-vis the price / location
◦ Is it pertaining to your focus area (geography,
price point, type of property)
◦ Does the project excite you? If yes then only even
think of exclusive mandate. If no then do open
listing
◦ Donot give false commitments
◦ Donot waste time if project is not saleable
16. RE/MAX Mumbai – Gujarat – Maharashtra
Exclusive Projects are a huge
responsibility and should be taken
carefully.
Open listing can be taken, but then
you should work on them else sales
will not happen “magically”
Invest your time and money wisely.
Do not assume that if 50% of
scheme is sold, makes it easy to
market remaining 50%
17. RE/MAX Mumbai – Gujarat – Maharashtra
Only 3% of customers who walk in to a
site, close. So if you have other listings in
the same area, probably you can use this
walki n database to sell those listings
Smaller the builder, will value you more
than larger builders. They don’t have the
brand/ advertisement muscle to sell 100%
of inventory, so try to get more
commission
18. RE/MAX Mumbai – Gujarat – Maharashtra
One big advantage of having exclusive listing is
that you get all secondary leads of :
◦ Selling of prospects’ existing property so that he
can buy a new one.
◦ Resale of flat if he is investor
◦ Renting of the flat
◦ Referral from that customer for his friend
19. RE/MAX Mumbai – Gujarat – Maharashtra
Building long term relationships
Doing immediate tasks on hand
Communicating with customers
Delivering results
Satisfying customers
Keeping in touch with closed
customers
NOT ON
Commission !
