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Here's The Step By Step Process Of Starting Your Real Estate Business In India And The Steps Of Growing It
Step #1 : Know the Basics - Your Market, your Customer & Your Funnel
Many people fail in their Real Estate Startup because they haven’t spent time in thinking about the Market, Customers & their Sales Funnel.
The first thing is to study the market. And find out the answers to questions like these:
- What kind of demand in their in my market?
- Who is buying? or selling?
- Why is this demand? Study The underlying factors
- What kind are projects are being launched by developers in my area?
- What kind of properties are being sold?
- What kind of properties are stuck and are not moving?
These are some of the questions which a person should investigate and find answers to.
Lisa Home recommends minimum 100 hours of research via online portals and offline field visit.
Do not start your business until you have done this part. You will save a lot of money and time, if you do it right.
Step #2 : Build your Processes & Systems around your funnel
Once you have figured out what sells and who buys. Start building a Sales Funnel for it.
Below in the image of Lisa Funnel which is a framework developed by Lisa Home Solutions (P) Ltd and it works in real estate.
Understand the stages and the activities involved. Without this Lisa Funnel, you will waste a lot of time and money.
Step #3 : Automate your Real Estate - Lisa Funnel
Once your Sales Funnel is working you can start on Automating this funnel.
You can use tools to map the complete buyer and seller journey:
- Lead Generation
- Sales Process (lead to deal)
- Visit Management
- Offer Management
- Closing of the Deal
- Post Sales Service
There are many tools available in the market to help you automate a large part of this customer journey. They are not costly. Use them wisely as per your Lisa Funnel requirement
Step #4 : Scale your Real Estate Business
Now comes the next part when your Real Estate Sales Funnel is working. Start with scaling your Real Estate Startup.
- Increase your Marketing spend
- Build team to support you in visits and offer management
- Get better sales volume via Sales management
Step #5 : Network to Grow your Real Estate business
Finally, go out and network and connect with as many people as possible.
The more you connect with people and help them, the more your Circle of Influence will increase. This will help you in becoming a Brand in your area and it would also generate a lot of High-Quality-Referral-Leads.
Lisa Home Solutions is doing the same by conducting workshops and expert training sessions for new comers in Real estate industry. LHS is Pune Largest Property Management and Services company. And LHS conducts this workshop to ensure that its Circle of Influence going on increasing.
You could do the same after completing the first 4 steps.
Love and abundance always,
Preeti Deshwal
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