At the last count, there were roughly 30,000 realtors and brokers all vying for clients in the Big Apple. With that much competition, even the most experienced agents have trouble standing out from the crowd.
The market is tough, and if you’re going to make it as a broker in this city, you may have to start thinking about things a little differently. Here are the top five things NYC real estate brokers should consider as they continue to grow their business in 2017.
What’s Your Area of Expertise?
If you’re trying to find a rental property in Brooklyn, which broker would you choose? The broker who covers the whole of New York or the broker who specializes in Cobble Hill? Odds are, you’re going to go with the specialist. Clients are attracted to brokers who have focused knowledge, and a strong network of valuable contacts with landlords in their desired neighborhoods.
How are you Attracting Clients?
Referrals are a huge source of new business for brokers. If a client has recommended you to all his friends or colleagues, why not position yourself as the broker for that demographic? Young professionals know other young professionals. Bankers know other bankers. Do a good job for one of them and then focus on doing a good job for all of them.
Are you a Social Butterfly?
In today’s world, setting up social media profiles for your business isn’t enough. You’ve got to be active on them. Build up a network of contacts on Facebook, Twitter and any other accounts your prospective clients might have. Spend part of your day sharing great content with your audience and answering any of their questions. Tools like Buffer and Hootsuite are great ways to automate this and both are available for free.
How do you Manage Your Time?
Real Estate is one of the few industries where the time you spend working directly correlates with the amount of work you create. Since there’s only so much time in the day, you must make the most of it. Focus on leads that offer the greatest potential value. A client who can refer ten friends all looking to rent is far more valuable than a single client, even if they want to spend three times as much.
Are you Partnered With the Best?
The most successful brokers are the ones who have the best relationships with property owners and landlords. Of course, those landlords need to own the properties your clients want, particularly if you’ve started to specialize in a particular area or in serving a particular demographic.
Dixon is the premier no-fee, pet-friendly leasing company for luxury single and multi-family townhouses in NYC. If your clients are looking for luxury family accommodations, then partner with Dixon Leasing to increase your inventory and expand your income potential.