Partnerships and collaborations are essential for growth in every aspect of life and business, and they are vital in real estate sales management and development in Vietnam.
I have been involved in managing sales and marketing for various real estate projects in Vietnam, such as Mon Rosalia Villas, Green Pine Villas, Grand Bay Townhouse in Halong, Quang Ninh province, and the Minato Residence in Haiphong City, etc. I found it a really interesting and memorable experience in regard to the effectiveness of partnership and collaboration in the sales development of a real estate project.
I take the Mon Rosalia Villas project, for example. It is a high-end villa project located in the heart of Ha Long City, targeting affluent clients who desire a luxurious lifestyle. You may see it appears completely hard for a few individual sales agents or even agencies to sell luxurious properties to the targeted customers.
As a marketing and sales manager, I should have proposed and carried out an appropriate strategy for the project to hit the sales target within a limited time frame. I led my team to focus on partnership and collaboration with all agency or agent partners who want to join the sales program for the potential project.
Aside from the close collaboration with the agency leaders, managers and sales partners, we needed to convince the sales agents in the targeted regions as well. To generate momentum and inspire the sales community, my team organised highly personalised events and advertising activities. These initiatives helped energise the salespeople, ignite their passion, and equip them with practical and natural sales techniques to reach target customers effectively.
This approach not only motivated the sales team to overcome challenges and achieve sales targets but also ensured they stayed committed to the project until the final units were sold. Consequently, target customers quickly understood and appreciated Mon Rosalia’s unique offerings.
Steps to initiate the successful partnership and collaboration in real estate sales
The journey of a thousand miles begins with one step. Also, in real estate, if you want to gain success in the sales development journey on the basis of partnership building, these proven steps can be taken. To start the process of building partnerships to enhance sales for a specific project, you need to fully understand every way the project is being open for sale and figure out the target market and customers. In this step, you can weave together all the information ready to initiate the right support, promptly design creative materials and solidify true collaborative partnerships with the sales force.
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Secondly, sales plans and benefit programs should be prepared carefully to satisfy the expectations of the partners. The packages must be convincing to the real estate community, too, because it is a matter of fact that the sales force is very straightforward in regard to actual gains for themselves. Real values should lie in the benefit programs.
In the third step, you can actively check up on all the agencies and sales partners and also publicly share about your role in the very potential project. You should be very confident in the role so that the mood of our partners dedicated to your project will be boosted accordingly.
You can passionately contact and present the whole story to the partners so as to get them totally involved in the mission in the fourth step. Especially for sales agents, you can connect with them in communities where there are layers of support and engage them in separate benefit programs. Only when the sales agents feel the enthusiastic collaboration from you do they focus on selling your given real estate properties?
Finally, you get all the official partners onboard to play fruitful games and continuously support them all in a professional and transparent way.
Generally speaking, these steps are the practical guide for you to start partnerships in real estate sales development. Meanwhile the results may also be affected by the challenges such as competitiveness among projects in the market where we must build and show our clear difference. The prestige, financeability and reputation of the project developer is also another challenge for the partnership and collaboration.
Approach to future effective partnership in real estate sales development
While the traditional property agencies are facing challenges of salary and office cost efficiency but also the optimal transactions that can produce the highest margin, new model businesses leveraging the technology and partnership with other partner agencies, agents, and even anyone from other sectors who wants to earn extra income from real estate have been strongly approached.
Supporting and engaging sales partners in potential property inventories through trading and communication platforms would be an optimal and cost-effective approach. It means building a strong sales force or large communities of sales agents through the provision of supportive functions and tools.
So, the convergence of collaborative partnerships and technology can help businesses optimise transactions and also facilitate the salespeople to win successful deals. This result is eventually appropriate for businesses and appeals to the sales agents at most.
Knowing well how to build strong sales communities does not mean successful implementation without any capability of bringing in attractive property inventories, competitive commission shares, and especially your credibility and financial ability.
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Now, we are in a world where we must provide state-of-the-art technological functionalities and utilities to strengthen our sales communities. Let’s imagine your Gen AI tool can help sales agents better consult and win deals with customers, then you can answer the question if the sales agents will partner with you.
Actually, with my experience of old-school property agency management, I am turning to develop my business with this approach by leveraging the power of community and technology to optimise real estate commerce. My startup is an ecosystem where one of the subsidies will be making the most of the collaborative partnership with larger sales agents or affiliates. I am confident that the business model will result in fruits in the long run.
Startups need cross-party collaborations
Cross-party collaboration is inevitable and essential for driving innovation and growth in real estate. Just in dealing an ordinary property transaction, we need a partner to go with to ensure a deal done; so in order to develop sales for large scale projects, we need a community of sales professionals as the matter of course.
The sales activities of every business are always vital. Good sales may come from the active networking approach and customer base building with clients and partners, so real estate startups should actively take advantage of cross-party collaboration in an attempt to create sales opportunities and direct sales. Cross-party collaboration also helps startups learn and experience actual operations and strategies from their peers to improve their own operations.
Thus, I have pointed out the practical power of partnership and collaboration in real estate commerce development. With the actual steps of building partnership, if you are new to the real estate sales development, you can try my suggested ones, meanwhile experienced ones can selectively take appropriate ones to apply to real life.
It is apparent that partnership and collaboration are effective initiatives for any real estate agency, so you can take this strategy of enhancing partnership and collaboration in a separate new business or even add this approach to your current entrepreneur. I really believe in and take advantage of the power of partnership and collaboration in real estate sales development.
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This article was first published on July 23, 2024
The post Real estate sales development: Unlock the power of partnership and collaboration appeared first on e27.