Let’s start with this scenario

"He has just bought the property from you, but that shouldn't be the end of your service to him. He still needs to get furniture, repaint the building, etc. There are still some changes he needs to make in the building. He might not even be aware of them, but you can help discover them."

Don’t forget that

Your primary objective is to assist him in acquiring a property that meets his needs. You are the leader and should guide him through the entire process until he is completely satisfied.

I often advise people that they may be leaving a lot of money on the table when they sell a property or come across a potential buyer. Even if the potential buyer doesn't end up making a purchase, I will tell you this…

The moment someone is willing to buy a property, it means they have enough liquidity and high buying power. There are more problems to help such a person solve.

Think about it…

At what stage in life does a person typically consider purchasing real estate property?

Such a person is a financially responsible person who is capable of meeting their own basic needs, as well as those of their family and loved ones. They are also able to attain some of the things they desire. Ultimately, if such a person is willing and financially able to invest in the property, there are still a lot of things he wants and he will get.

That’s where you come in – Start Cross-selling

 The simplest way to explain cross-selling is to use the example of a friend who, after saving up to get a Smartphone in Computer Village (a popular place to buy smartphones and other gadgets in Lagos Nigeria), bought three other things in the same store. Guess what? The phone seller is not even the seller of some of the other items she sold to us. She bargained with us but ended up getting it from another seller beside her and yes, she made a profit from it. She sold us a screen protector, and a phone pouch and also wanted us to pay her money to upgrade the new phone from 6GB RAM to 12GB RAM. I laughed hard when she said that to my friend because he almost paid. I told him, he could always google it and do it himself. She eventually did it for free.

Ask yourself

What other needs might my clients have? Please list them and see if you can provide, collaborate, or connect with other professionals who can assist with those needs. By doing so, you can help clients with additional services or products after a successful or unsuccessful property deal, creating a more valuable and satisfying experience for them.

Sometimes, it is challenging for that client to reach a reliable person who can help with the next task. However, you have the advantage because he trusted you previously.

 What happens if the lead doesn’t buy from you

 What percentage of people who contact you about real estate end up buying from you? I'm guessing it's less than 30%, right?

So, what do you do with the 70%+ who don't buy from you and go to another realtor? Consider how much money, time, and effort you've invested in getting them to the point of decision.

If it were me, I would ensure my potential clients know that even if they work with another realtor, I'd still be happy to help them with other aspects, such as finding reputable painters or furnishing their new place. I would do this by sharing success stories of my other clients who have been satisfied with these additional services, and I'd aim to convey this message at the right point in our conversation. I might even consider offering a discount or a free service after a successful property deal, so it sticks in their mind.

Product or Services to Upsell your Client as a realtor

 1. Painting product and service: One of the common needs of a new homeowner is repainting his building to his taste of colour. Most likely they will need to change the look of their walls and ceiling. Some might want wallpaper or mural paintings. So recommending will work well when you have a partnership with a provider of this service. But make sure it is someone you can trust his work and profession

 2. Interior design or redesign: I have seen many cases of redesign by a new homeowner. Some need a bigger room; others want to convert a space to something else. There is most likely something they need to change. If you listen well enough, you will feel it and you can add it as your professional suggestions either to close the deal or upsell him.

 3. Logistics: A new homeowner will most likely need to move things into their new home. If you have a coordinated haulage company on standby, this can come in handy.

 4. Construction: Some of your clients might be landowners. They will need to build on the land someday. If you nurture them well enough and let them know you have a construction company to recommend, there is a high tendency you will contact you first when they are ready to build.

 5. External work redesign: Sometimes, a house owner wants a garden, or he just wants to redesign his compound and from experience, they ask anyone they can trust to get them to the right people who provide such service.

 6. Fixtures, fittings and furniture replacements: Either your client wants to replace the furniture, lighting and other interior elements in the building he just bought or he wants to add new things to it. Consider the additional income this gives you.

 7. Suggest Solar and inverter power installation: Suggesting solar and inverter power installation has become a necessity in Nigeria and worldwide. Therefore, recommending solar power generation will always be effective.

 Finally

 You don't need to be overly persuasive when recommending a service. There is a thin line between trying to improve the experience of your client and siphoning his money for your gain.  Let your word and action show him that all you are trying to do is help him get the property he wants and in good shape.

Another thing to note is…

It is better to have an agreement with the service provider you wish to recommend that you'll receive a certain amount or percentage of the profit for every person you recommend. Simply refer the person and let them handle the rest. Trying to act as the service contractor and then subcontracting the work may lead to confusion.

 Here is how I can also help

1. My partners and I offer a wide range of services that your clients may require. We are interested in partnering with you, as we have a good understanding of how realtors operate and believe we are a great fit for your needs.

2. Over the years, we have compiled a list of professionals, artisans and leaders in the real estate and construction industries, along with a checklist and an easy quoting process for these services. So you see we have the necessary resources and information to assist you.

Contact Us today

Mail: [email protected]

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Call: +234 80 2942 4558

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