- By: Habytat Team
- Aug 31, 2021
Why Collaborative Selling Is Necessary In Real Estate?
Conventionally, selling in the real estate business is a phased process. First, it goes through the internal sales team and then channel partners. You might be having a hard-working internal sales team but is that sufficient to achieve the desired target and attract new customers? To make sustainable gains, you will be required to collaborate with the channel partners and realtors to expand the reach of your business as well as harness the market opportunities. While channel partners guarantee the sales within a fixed period with their marketing strategy, the realtors act as intermediaries between the buyers and sellers. In these uncertain times, when the most dynamic market of real estate is trying to jump back to normal, the need for collaborative selling is felt more than ever. Here are 4 reasons that necessitate the existence of collaborative selling for the dynamic growth of your real-estate business:
1. To Increase the reach
The pandemic caused the home seekers to indefinitely postpone their plans in the wake of falling confidence in the stability of the market. Collaborating with popular channel partners can provide these potential buyers a much-awaited boost and awaken their confidence to invest again in property. Since the realtors and the channel partners have a larger database of leads available to them; they can effectively utilize this to help increase your firm’s reach to new groups of customers. While channel partners use various online methods to expand their reach, the local realtors use their contacts and ground-level meetings with other stakeholders to bring convertible leads to your firm.
2. Sales guaranteed
Both realtors and the channel partners will charge a certain commission from your firm to find potential buyers for your products and services. The channel partners go a notch ahead for you in the business as they assure guaranteed sales. Using their marketing strategies and vast database, these agencies identify and match the requirements of buyers with your offers. Moreover, the CRM tools used by these partners to address the queries of the buyers also help in creating a sense of confidence among the buyers about your establishment. This clearly justifies the higher commission charged by these agencies and makes a worthy deal for you.
3. Saves time and cost
Realtors are usually from the local community itself. So, they have a deeper understanding of the needs and preferences of the people in and around a particular area. Once in a partnership with your firm, they are going to use their contacts to provide you the marketing solutions as well as purchasing ideas to the buyers. In this process, they take care of every aspect of the deal, from documentation to visits to negotiations, etc. On the other hand, the channel partners work as independent entities with their strategies in marketing and other spheres of the sales process. In this way, collaborating with these partners will save you a lot of time and cost that will help you to look forward to working at more technical aspects of sales to deliver the services within the stipulated time.
4. Goodwill management
A good deal is made to last forever. In this era of advanced communications and the internet, every buyer wants to minimize the risk. For this, the buyer analyses many aspects related to different firms on various web portals and ranks them accordingly. Channel partners and realtors use their advanced CRM software tools and underwriting services to help maintain your online rankings. This clearly means that having multiple collaboration partners will give you an edge in this particular sphere as the services of your firm can be verified and compared by a buyer on various portals. Similarly, collaboration with most of the realtors in and around a locality may help your firm in building a popular image among the clients. Because these partners, from their own business motives, will further try to present your deal as the ideal choice for the buyers thus contributing to the goodwill of your establishment.
The Role of Channel Partners
The role of channel partners in today’s real estate space is more prominent than ever. Their multi-functional role helps them have an edge over realtors. Not only they go an extra mile to find the potential buyers but also work as buying advisors in a more professional manner. Channel partners make the whole home buying process a hassle-free experience for the buyers, making them rely more on their services. They do not charge any sort of service fee from the buyers yet provide free services such as pick and drop, loan assistance, and post-sales support. All the efforts are put in for the sole commission provided by the developers. The uncertainty of sales leading to the risk of losing the commission does not impact their professionalism and diligence.