The real estate market in India is changing rapidly because of the recent RERA policies. The 2016 legislation has impacted the foundation of the industry and levelled the playing field for big and small developers alike. RERA registration is now mandatory for all real estate developers and channel partners – which makes its regulations binding for everyone. Today, if a developer wants to keep pace with the metamorphosis of Indian Real Estate, then it should think about other stakeholders as well. Developing a channel partner loyalty program is an inevitable part of the process.
A simple profit-driven and low accountability approach is no more the best way to make money in this industry.
Why a channel partner loyalty program?
Surprisingly, both developers and customers often neglect channel partners as a crucial stakeholder in the business. This is probably because of their middle-man role, which often makes them despicable for others.
However, statistics are definitely on their side. On average, 50% of real estate sales come from channel partners. In a post-RERA industry, developers who are inclusive of channel partners are more likely to register better sales numbers than the ones that do not.
Here’s a look at what a well-deployed channel partner loyalty program can do for your real estate business –
1. Promotes brand loyalty among channel partners
As of now, real estate agents are only expecting the RERA approved commission for each sale they make. So, what can you do to inspire better performance on their part?
Give them additional cash rewards, financial benefits, lifestyle rewards, and the likes – it will motivate them to work harder to boostyour sales.
2. Creates a secure work environment for channel partners
When you make real estate agents feel like partners in the business, they work with a zeal like never before. Also, ensuring timely payments, lead protection, and other perks like sales training to facilitate their personal growth as well.
It will do wonders for your business and help you sell with a more skilled and motivated set of channel partners.
3. Helps in the organic growth of your real estate business
Having a dedicated channel partner loyalty program will enhance the organic growth of your real estate business. It creates a synergy between you and the channel partners and every policy of the program is driven to give you more sales.
All of this is part of getting a planned channel partner program in place. Want yours? Get in touch with Loyalie now!