A typical sales process for any Real Estate business is implemented through two routes. First, is through marketing campaigns and internal sales teams. And second, is through a network of Channel Partners and Brokers. While marketing campaigns are sufficient to attract some customers, some need an intermediary for added assurity and convenience.
Apart from this, marketing campaigns may or may not bring in as many leads as sales can. With their local experience and outreach, Channel Partners and Brokers can contribute to overall sales through their time-tested strategies. Which is why they should be considered an integral part of the sales strategy.
Difference between Channel Partners and Brokers
The terms Channel Partners and Brokers must not be confused as being the same. Channel Partners are agencies that guarantee the sale of properties within a stipulated time period through their own marketing and sales strategies. And Brokers are individuals or a team who act as intermediaries between homebuyers and developers. Since Channel Partners take up more responsibility of sales and also underwrite properties, they take higher commissions than Brokers.
Role Of Channel Partners And Brokers In Today’s Market
We are living in times of uncertainty. The COVID-19 pandemic has disrupted the Real Estate industry as well as altered the buying tendencies of home seekers. In such a situation, influencing customers to spend on a property is a challenge. To give them the confidence to buy a property, Channel Partners and Brokers can come to builders’ rescue. Through their individual lead databases, Channel Partners and Brokers can help developers reach out to more prospective buyers.
Advantages Of Partnering With Channel Partners
There are three main advantages of selling Real Estate through Channel Partners:
- Builders are guaranteed of sales.
- Channel Partners deploy their own marketing strategies along with builders’ strategies.
- Channel Partners pay underwriting amounts to builders, which can be utilised for cash necessities.
Advantages Of Partnering With Brokers
There are three main advantages of selling Real Estate through Brokers:
- Brokers have better understanding of localities, as a virtue of which they can provide niche consulting to homebuyers.
- Brokers themselves take care of site visits, documentation, negotiations and coordination for their set of leads. This, in a way, saves the time and efforts of sales teams.
- By listing residences across property portals, Brokers help in increasing the online visibility of projects.
Apart from the individual advantages of partnering with Channel Partners and Brokers, they both offer a common advantage of expanded lead databases. So, builders can sell to homebuyers who haven’t even seen their marketing communications. Moreover, both entities offer qualified leads with increased chances of conversion.
Challenges Of Partnering With Channel Partners And Brokers
A coin has two sides. While partnering with Channel Partners and Brokers has its benefits, there are some challenges involved too. The most common issues of this partnership are lead attribution and commission management. Builders often work with multiple Channel Partners/Brokers from the same area, who may bring in the same lead. In such a case, disputes may happen while accrediting the lead to a particular entity. Which in turn can cause issues regarding the commissions.
Sell.Do Enables Hassle-free Collaborative Sales With Channel Partners And Brokers
Created with a grass-root level understanding of Real Estate, Sell.Do real estate CRM comes with Channel Partner and Broker integration features. Its lead tagging and incentive management features prevent the above-mentioned disputes, and its personal dashboard for both entities helps track performance easily. It also gives builders the control of how much data should be shared with Channel Partners and Brokers, which prevents data leakage. With these and many other features, Sell.Do ensures the partnership is beneficial and hassle-free for both parties.
Joining forces with Channel Partners and Brokers can be beneficial for builders, if done the right way. To avoid hassles and optimise performance, a Real Estate CRM software can come handy.
Sell.Do is an exclusive CRM software for Real Estate developers in India. It has been developed by industry veterans, and comes with features and updates that solve real, on-ground issues. To experience Sell.Do, schedule a free demo today!