At some point when you meet new clients whether it is online or in person, you have come across customers who are keen in asking about the payment options you have. This often occurs because none of us can afford to pay for something at once.
Therefore, owning or buying real estate is a strategy, which has been known to be satisfying and lucrative. It is unlike putting your investment in bonds and stock because prospective real estate owners use advantage to buy property. This means that one can acquire real estate properties by either paying in cash or a portion of the total cost upfront, then paying off the balance over time plus the interest gained.
The paying of a portion of the total cost upfront is referred to as deposit and the deposit percentage to the total cost differs from one property to another depending on their market value.
Here are some reasons why real estate should embrace this kind of payment option.
Customer Satisfaction
Prospective investors usually want to own a property, which is far beyond their affordability in cash. These investors are a key to business growth and therefore should never be let to walk away with the little they have now.
In order to make these investors valued within the company, they are offered to pay in terms of installment options for a given timeline.
A satisfied client will therefore plan properly on when to finish the payment.
This ensures continuous flow of income within the company and happy clients.
Wider clientele
In order to understand how customers feel, real estate agencies should put themselves in customers’ shoes at one point in business. What do customers like and want to be treated in terms of pricing and payment.
When flexible payment is created,a wider audience is achieved. Existing clients will be more than willing to acquire more properties as they will have a flexible time frame to fully own what they want.
Increase Customer Loyalty
For a business to exist, customers should be there. Treating every client as important as they do come will automatically make them loyal to the business.
A loyal customer is an asset to the business as they act as a feedback to the society.
Word of Mouth
When it comes to attracting and retaining customers, word of mouth commonly referred to as referrals is the most effective business technique.
Clients who are happy with flexible payment options will let their colleagues be aware of the same, bringing more clients willing to own real estate properties by requesting to use installment options.
“We usually offer flexible payment options to all our clients before they commit to invest with us in order for them to weigh their options, we don’t force any client to pay in cash and this has really helped us grow over years maintaining our client base. ” Username Investment ltd CEO Reuben Kimani said.
In Kenya, few real estate companies have embraced this mode of payment and are reaping out fruits every year as they grow. So, what is at stake here? Allowing people to purchase property while their monthly budget remains intact is, above all, an integral part of marketing. The more payment options and payment flexibility, the more customers you will acquire and retain
