You may have asked yourself when reading the title of this post what is the real estate Canvas, and what you will see throughout this article is to put you in context about this model that will help you develop a useful strategy for your real estate business.
What is the real estate Canvas?
Let’s start by saying that the real estate Canvas is a tool created by Alexander Osterwalder and Yves Pigneur that aims to guide both businessmen and entrepreneurs in the creation of productive and innovative businesses.
By using this model in your real estate agency you will be able to have a broad overview of your business model, through which you will determine the activities that should be prioritized and those that may play a secondary role or those that do not allow your real estate business to flow.
Through this model, the staff of your real estate agency will be able to share and expose their ideas giving the opportunity to create parallel business models, but with a common goal, to promote and define strategies for it.
In addition, it will provide a structured perspective of the business model of your real estate agency, allowing the whole team to know and understand the strategy with which the proposed objectives will be executed.
How is the Canvas Model composed?
The correct execution of the Canvas Model is carried out by developing elements such as:
Market segment. At this point the target market will be defined, that is to say, to whom our business is directed and for this we will take into account geographical aspects, type of person, economic level. It will be determined if it is a new market or if it already exists and it will be definitive to implement a strategy that will really boost your real estate.
Value proposition. It is related to the differentiating factor of your business and perhaps one of the most important aspects at the moment of developing this model because it is about defining very well the type of service that will be offered to our public. In this sense, we will answer questions such as: What is different about my service compared to another agency’s? What is the added value? What do I offer more? Does it satisfy my clients’ needs?
Relationship with clients. Defining the relationship you will have with your clients will be another of the pillars of your business strategy. Here you will have to determine aspects such as the service, whether it will be personalized or not, whether you will offer paid or free services and how you will generate trust among them.
Dissemination channels. The channels you will use to publicize your real estate services will be determined: Website, social networks, digital guides, forums, chats or also a physical location of your agency.
Sources of income. The source of income will be defined, for example, percentages for the sale of real estate, administration costs in the case of rentals or other type of services that establish the price of your real estate business.
Activities and resources. At this point the resources that your real estate agency needs to operate will be determined: human, financial or technological resources. As well as the activities that will be carried out to fulfill the business objectives.
Alliances. It is very important to analyze with which companies or businesses we can make strategic alliances to promote our real estate agency and at the same time to have the support of those businesses that are already positioned among the clients.
Cost structure. Finally, it will be necessary to define the costs of functioning, operation, fixed and variable, direct or indirect costs in order to be much more accurate with the structure of our real estate business.
With the above we see that there are several aspects to take into account to carry out the Real Estate Canvas Model. Remember that in order to successfully execute your marketing strategy you must make an exhaustive analysis of your business and if you can, it is better to count on the help of professionals in the sector.
