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How To Get Clients In Real Estate (2022 Guide) – Forbes

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When you’re new to the game, learning how to get clients in real estate can be tough. Luckily, even if you’re starting from square one, it’s entirely possible to build a thriving client base if you have enough perseverance. We’ve compiled a list of tips to help you build up your client roster and forge the thriving real estate career you’ve always wanted.

Here are 11 ways to get clients in real estate:

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1. Buy Real Estate Leads

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Perhaps the simplest way to get leads in real estate is to buy them from a lead generation company. These companies advertise on your behalf to acquire customers with an interest in either selling or buying a home. Then, they’ll provide you with these potential clients’ contact information so you can reach out. Many services also provide full customer relationship management (CRM) system features such as automated follow-up, appointment scheduling and more.


2. Engage With Your Community

Building relationships with people in the neighborhoods you want to work in is a great way to get your name out there. You can do this by volunteering at community events, donating gift baskets at charity auctions or even having giveaways to local businesses. The more people you can reach, the bigger potential client base you’ll have.

Eventually, if you do enough genuine outreach, people will come to know you and your services by name. And when it comes time to sell or buy a house, you’ll be the first one they think of.


3. Ask Existing Clients for Referrals

According to the National Association of Realtors (NAR), 68% of people who used a real estate agent found that agent through their family or friends. That means your existing clients can play a huge role in getting you new customers.

As long as you provide excellent services throughout the transaction, your clients likely won’t need any prompting to recommend you to others. Still, it doesn’t hurt to offer a small financial incentive, such as a $25 gift card, for any client who brings you a successful referral, leaves a review of your services or posts on social media about how you helped them.


4. Create a Website

Did you know that 69% of real estate sales agents have their own website? If you don’t have one, you’ll be missing out on valuable web traffic, since 51% of home buyers use the internet to find the home they want to purchase, according to NAR.

The most common type of real estate website is an internet data exchange (IDX) site that automatically showcases all of your MLS listings. That way, you can promote your seller clients while also attracting new buyer clients. However, you can also have a more basic website that lists your specialties, affiliated brokerage, track record and a contact form.

Not sure where to start? Learn how to create a website.


5. Post On Social Media

Social media is another big tool for attracting clients. NAR estimates that 20% of its members get 1% to 5% of their business from social media, while 10% get 6% to 10%. You’ll want to have profiles on all of the major services, including Facebook, Twitter and Instagram.

Wondering how to get clients in real estate through social media? Post about your current listings, the services you offer or success stories of how you’ve helped clients in the past. You may even consider looking into pay-per-click (PPC) advertising on sites such as Facebook and Google. This type of advertising displays your ad content to targeted users based on their search behavior or demographics, but you’ll only pay every time a person clicks on the ad.

To keep your social media accounts running smoothly, we also recommend trying out a social media management software that lets you schedule updates in advance so you don’t need to take time away from clients to post.


6. Specialize In a Niche

Your local area probably has dozens of run-of-the-mill real estate agents, but how many luxury real estate agents does it have? Or farm real estate agents? Chances are, fewer people specialize in areas such as these, meaning you’ll have less competition to fight against.

Once you pick a niche and advertise yourself as the local expert in that specific type of situation, you’ll become the go-to person in your region. Of course, building yourself up as an expert takes time. You’ll likely need to start blogging about your niche, partnering with brokers who already have experience in that niche or even sending mailers to people who fit your niche.


7. Try Cold Calling

No one likes cold calling, but sometimes, it can be a really valuable way to track down leads. In particular, it can help to curate for sale by owner (FSBO) sellers trying to list their homes by themselves or expired listings that never had any takers.

There are lead-buying services that can provide you with these types of contacts, but if you want to do it yourself, a good place to start is Zillow. Here’s how to find these numbers:

  • Head to the “Buy” page and choose your area
  • Click the “Other listings” button
  • Click on a listing and scroll to the end of the “Overview” section to find the seller’s phone number

Make sure you have a script ready whenever making calls so you’re prepared for any and all objections sellers may have—and they’ll likely have a lot.


8. Host Open Houses

Open houses are often a realtor’s best friend because they give you the chance to network with interested home buyers. Many realtors include a sign-in sheet where house hunters can write their names, email addresses and phone numbers—which you can then use to get in touch with them later.

However, what if you don’t have a client who wants to host an open house? You may be able to ask another realtor if you can host an open house for them. Often, experienced realtors are busy and don’t have time for open houses, so they’ll appreciate the help.


9. Contribute to News Articles

If you really want to get your name out there as a knowledgeable agent, one way to do that is by contributing to news articles. By offering up your expertise and acting as a source for journalists, you can position yourself as an expert in your field. One place to get started with this is Help a Reporter Out (HARO), which connects journalists with expert sources.

When people are reading an article where you’re quoted, they’ll turn to you if they have more questions or want help selling or buying. Being quoted in an article also gives you the chance for a backlink, which can improve the visibility of your website.


10. Offer Free Services

Everyone knows that selling a home is expensive, so do your best to assuage sellers’ apprehension by offering some free services. For example, if you include professional photography in your services, that can save the seller a few hundred dollars. Make sure you mention this in all of your advertising to help yourself stand out.

You should also be offering a free comparative market analysis to all clients—even before they sign on with you. Sure, it’s a little more work for you, but it doesn’t cost you anything extra and can make sellers more willing to partner with you.


11. Join a Real Estate Referral Network

Referrals aren’t just reserved for friends and family of past clients. You can also get them from plenty of other people and companies in the real estate field. For example, you might be able to form a partnership with these types of professionals:

  • Appraisers
  • Contractors
  • Inspectors
  • Mortgage brokers

Simply ask them if they’d be willing to recommend you to their clients. In turn, you can recommend them to your clients as they navigate the buying or selling process. It’s a win-win for both parties.


Bottom Line

Now that you know how to get clients in real estate, it’s time to get to work. Over time, clients may come to you, but when you’re first starting out, you have to come to clients. Do your best to advertise yourself online and in your local community, and you’ll start to build up a solid client base. Though it will take time and effort, eventually, you’ll find client-sourcing methods that work for you.


Frequently Asked Questions (FAQs)

How do new realtors get clients?

New realtors can get clients in a number of ways, including buying leads, asking friends and family for recommendations or canvassing their local neighborhood. It’s a good idea to try a mix of in-person marketing, such as sending out mailers or handing out business cards, with online marketing, such as creating a website and advertising on social media.

Is it hard to get clients as a real estate agent?

When you’re first starting out, it can be hard to get clients as a real estate agent. However, as long as you provide excellent services along with superior support, your clients should recommend you to others, bulking up your client roster.

What does a real estate attorney do?

The role of a real estate attorney is to handle the legal responsibilities as related to real estate transactions. Learn more about what real estate attorneys do.

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Caution about Canada's private real estate sector abounds as valuations slow to adjust – The Globe and Mail

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Valuations for Canada’s office real estate have taken longer to adjust than properties in other advanced economies.Jeff McIntosh/The Canadian Press

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As the U.S. economy has pulled meaningfully ahead of Canada’s, so too has its private commercial real estate sector, which is adjusting more positively to the post-pandemic reality.

That’s particularly evident in both countries’ privately held office property markets. While the U.S.’s is well down the path of transforming, demolishing or otherwise ridding itself of empty office space, Canada’s has practically frozen in place following a wave of markdowns in 2023. That has made valuation assessments next to impossible.

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“There’s a big dichotomy, and the Canadian market so far has not corrected,” says Victor Kuntzevitsky, portfolio manager with Stonehaven Private Counsel at Wellington-Altus Private Counsel Inc. in Aurora, Ont., which holds private real estate assets in credit and equity vehicles in both Canada and the U.S.

It’s no secret that last year was a difficult period for owners of Canadian private real estate, with many pension fund managers losing money as high interest rates drove up borrowing costs, inflation increased operating costs and vacancy rates remained high or even climbed.

The Caisse de dépôt et placement du Québec saw its real estate portfolio decline 6.2 per cent in 2023. The Ontario Teachers’ Pension Plan experienced a 5.9-per-cent loss in its real estate book, while markdowns on commercial properties owned by the Ontario Municipal Employees Retirement System (OMERS) resulted in its real estate portfolio dropping by 7.2 per cent.

However, there are pockets of strength investors can look to, says Colin Lynch, managing director and head of alternative investments at TD Asset Management Inc. These include multi-family residential and open-air retail centres, as well as industrial properties, which have been steady performers following strong gains through the pandemic.

It’s a view that dovetails with other analyses of the Canadian market. BMO Global Asset Management’s latest commercial property outlook notes that the industrial and multi-family segments remain strong due to high investor demand and tight supply.

“Office remains the asset class of the greatest near-term concern and focus,” the BMO GAM report states, estimating “a timeline for a return to ‘normal’ of a least five years.”

Mr. Lynch says while that timeframe could be accurate, private real estate investors need to evaluate opportunities on a city-by-city basis.

“Every city is very different. In fact, the smaller the city, the better the office property market has generally performed because commute times are much better, so in-office presence is much higher,” he says.

He points to cities such as Winnipeg, Regina and Saskatoon, where commute times can be 10 minutes and office workers are in four days a week on average.

However, there’s also room for more bad news, with some property owners struggling to refinance expensive debt in a higher-for-longer rate environment that could force firesales for lower-quality buildings.

The U.S. and other advanced real estate markets, such as the U.K., are “quarters ahead” of where the Canadian office market is in terms of valuation adjustments, Mr. Lynch says. A major reason is much of Canada’s commercial office real estate is owned by a relatively small group of large investment funds.

“Peak to trough in the U.K., for example, declines were about 20 per cent,” he says, noting that Canada’s market hasn’t corrected to that extent, but it is catching up.

Mr. Kuntzevitsky says these private fund assets are valued based on activity.

“The U.S. market is deeper, there’s more activity within it compared to Canada,” he says. “The auditors I speak to who value these funds are saying, ‘Listen, if there’s no activity in the marketplace, we’re just making assumptions.’”

Nicolas Schulman, senior wealth advisor and portfolio manager with the Schulman Group Family Wealth Management at National Bank Financial Wealth Management in Montreal, holds private real estate funds for clients and says he’s preparing to evaluate new investments in the Canadian space later in 2024.

“We don’t think the recovery would take a full five-year window, but we do believe it’s going to take a bit more time. Our conviction is, we want to start looking at the sector toward the end of this year,” Mr. Schulman says.

Mr. Kuntzevitsky says he’s been allocating any excess cash to the U.S. market in both private and publicly listed vehicles.

“The opportunity here is that you redeem your open-ended private [real estate investment trusts (REITs) in Canada] and reallocate the money to the U.S., where the private market reflects [net asset values] based on recent activity, or you can invest in publicly listed REITs,” he says.

Still, Mr. Kuntzevitsky is watching developments closer to home for evidence the market is turning.

In February, the Canada Pension Plan Investment Board and Oxford Properties Group Inc. struck a deal to sell two downtown Vancouver office buildings for about $300-million to Germany’s Deka Group – about 14 per cent less than they were targeting.

“Hopefully, that will activate the market,” Mr. Kuntzevitsky says. “But so far, we haven’t seen that yet.”

For more from Globe Advisor, visit our homepage.

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Proposed Toronto condo complex seeks gargantuan height increase – blogTO

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A large condo complex proposed in the increasingly condo-packed Yonge and Eglinton neighbourhood is planning to go much taller.

Developer Madison Group has filed plans to increase the height of its planned two-tower condo complex at 50 Eglinton Ave. W., from previously approved heights of 33 and 35 storeys, respectively, to a significantly taller plan calling for 46- and 58-storey towers.

The dual skyscrapers will rise from a podium featuring restored facades of a heritage-designed Toronto Hydro substation building.

As of 2024, plans for high-rise development at this site have been evolving for over a dozen years, first as two separate projects before being folded into one. The height sought for this site has almost doubled in the years since first proposed, and it shouldn’t come as a huge surprise for anyone tracking development in this part of the city.

50 eglinton avenue west toronto

Early 2024 design for 50 Eglinton West before current height increase request.

Building on a 2023 approval for towers of 33 and 35 storeys, the developer filed an updated application at the start of 2024 seeking a slight height increase to 35 and 37 storeys.

Only a few months later, the latest update submitted with city planners this April reflects the changing landscape in the surrounding midtown area, where tower heights and density allotments have skyrocketed in recent years in advance of the Eglinton Crosstown LRT.

50 eglinton avenue west toronto

April 2024 vision for 50 Eglinton Avenue West.

The current design from Audax Architecture is a vertical extrusion of the previous plan that maintains all details, including stepbacks and material details.

That updated design introduced in January responds to an agreement that allows the developer to incorporate office space replacement required under the neighbourhood plan to a nearby development site at 90-110 Eglinton East.

According to a letter filed with the City, “As a result of the removal of the on-site office replacement, which altered the design and size of the podium, and to improve the heritage preservation approach to the former Toronto Hydro substation building… Madison engaged Audax Architecture and Turner Fleischer Architects to reimagine the architectural style and expression of the project.”

A total of 1,206 condominium units are proposed in the current version of the plan, with over 98 per cent of the total floor space allocated to residential space. Of that total, 553 units are planned for the shorter west tower, with 653 in the taller east tower.

A sizeable retail component of over 1,300 square metres would animate the base of the complex at Duplex and Eglinton.

The complex would be served by a three-level underground parking garage housing 216 spots for residents and visitors. Most residents would be expected to make use of the Eglinton Line 1 and future Line 5 stations across the street to the southeast for longer-haul commutes.

Lead photo by

Audax Architecture/Turner Fleischer Architects

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Luxury real estate prices just hit an all-time record – CNBC

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Real estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.

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Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin. Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.

Real estate experts and brokers chalk up the divergence to interest rates and supply. With mortgage rates now above 7% for a 30-year fixed loan, most homebuyers are finding prices out of reach. Affluent and wealthy buyers, however, are snapping up homes with cash, making them less vulnerable to high rates.

Nearly half of all luxury homes, defined by Redfin as homes in the top 5% of their metro area by value, were bought with all cash in the quarter, according to Redfin. That is the highest share in at least a decade. In Manhattan, all-cash deals hit a record 68% of all sales, according to Miller Samuel.

The flood of cash is also driving up prices at the top. Median luxury-home prices soared nearly 9% in the quarter, roughly twice the increase seen in the broader market, according to Redfin. The median price of luxury homes hit an all-time record of $1,225,000 during the period.

“People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,” said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. “They’re ready to buy with more optimism and less apprehension.”

The Trump International Hotel and Tower New York building is seen from the balcony of an apartment unit in the AvalonBay Communities Inc. Park Loggia condominium at 15 West 61 Street in New York on May 15, 2019.
Mark Abramson | Bloomberg | Getty Images

The luxury market is also benefiting from more supply of homes for sale. Since wealthy sellers are more likely to buy with cash, they are not as worried about trading out of a low-rate mortgage like most homeowners. That has freed up the upper end of listings, creating more inventory and driving more sales.

The number of luxury homes for sale jumped 13% in the first quarter, compared to a 3% decline for the rest of the housing market, according to Redfin. While overall luxury inventory remains “well below” pre-pandemic levels, the number of luxury listings that came online during the first quarter jumped 19%, the report said.

“Prices continue to increase for high-end homes, so homeowners feel it’s a good time to cash in on their equity,” Palmer said.

Still, not all luxury markets are booming, and the strongest price growth is in areas not typically known for luxury homes. According to Redfin, the market with the fastest luxury price growth was Providence, Rhode Island, with prices up 16%, followed by New Brunswick, New Jersey, where prices were up 15%. New York City saw the biggest price decline, down 10%.

When it comes to overall sales of luxury homes, Seattle posted the strongest growth of any metro area, with sales up 37%. Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.

Luxury homes sold the fastest in Seattle, with a median days on the market of nine days, followed by Oakland, California, and San Jose, California.

Subscribe to CNBC’s Inside Wealth newsletter with Robert Frank.

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