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What you need to know
- Communications & Technology
Real estate professionals simply do not fear technology. Alright, that's a bit of an overstatement. But the fact remains - desktop computers and cell phones have been industry tools since the day they hit the market; and the numbers bear this out.
- Sales and Marketing
The high-stakes game of selling property attracts many people to the real estate profession every year. Despite the job's fair number of demands and challenges, the potential payout often lures sales-savvy folks into the business.
- Customer Service
Any company aiming to stay in business must make its customers happy. In the real estate industry, this can be a thorny process, because selling or buying a property means big bucks, legal intricacies, and often lengthy client-realtor relationships.
- Staffing & Employment
Most real estate agents want to slam the door shut on the current uncertainty surrounding the housing market. Unfortunately, economic trends indicate the industry likely will see a series of ups and downs before it stabilizes.
- Billing and Accounts Receivable
The billing process garners most of the money that feeds American business and industry coffers. But in real estate, cash flow all too often chokes up somewhere between property sales and commission checks, leaving accounts receivable ravenous for the next meal.
- Vendor Relations and Purchasing
The business of selling property requires people skills, persuasiveness and plenty of marketing materials. At last check, the nation's real estate brokers and sales agents accounted for more than 450,000 jobs, according to the U.S. Department of Labor.
Real estate agents and brokers personify the phrase "small business" at its most basic. Typically flying solo, with perhaps an office worker or two, these professionals are on their own when it comes to protecting corporate assets and income from financial catastrophe.
Social Media Best Practices & Applications
Real estate companies and agents are turning to social
media marketing as another way of boosting their
professional profiles and connecting with clients. One of
the challenges of using social networks, blogs and
microblogs to market is that instead of creating and
placing an ad that runs for an extended period of time,
managing a social media presence - or presences - is a
constant process that takes time and resources.
- Industry Financials