• Wednesday, February 28, 2024
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Rock Realty holds real estate masterclass on ‘Selling Mortgage Option’

Rock Realty Limited recently held its maiden Real Estate Masterclass in Lagos. The event, themed ‘Selling the Mortgage Option’ was curated for real estate marketers, and industry experts were on ground to impact the audience with valuable knowledge and skills to improve their selling process.

Speakers at the event included Ibukun Adebayo, MD/CEO of Rock Realty Limited; Ambassador Funke Kehinde, CEO of Brilliant Concepts; Paul Foh, CEO of Katalyst Consulting; Oghenereke Edheka, Investment Manager at Rock Realty Limited; and Olateru-Olagbegi Olanipekun, Team Lead at Imperial Mortgage Bank.

The event was opened by Ambassador Funke Kehinde with a compelling presentation titled ‘Improving Visibility and the Art of Closing Deals as a Real Estate Marketer.’

In her presentation, she emphasised to the attendees the crucial aspects of consistency, passion, and commitment in the real estate marketing business.

Kehinde stressed the significance of building trust with clients to maintain good relationships and not jeopardise them for quick financial gain.

She also highlighted the importance of retaining existing clients, as referrals from satisfied clients constitute a significant percentage of her sales. She urged participants to prioritise attendance, irrespective of other competing demands, emphasising that financial obligations are ever-present.

Kehinde further advised participants to collaborate with and seek assistance from senior colleagues whenever necessary.

Ibukun Adebayo, in her presentation ‘Understanding Mortgages and How to Use Them to Capture Sales’, provided a comprehensive explanation of the concept of mortgages and highlighted the key differences between mortgage loans and regular loans.

She effectively dispelled the notion that mortgages are exploitative and instead emphasised the many benefits that can be gained from utilising them.

She further discussed the various factors that affect mortgage rates in both developed economies and emerging markets.

Adebayo also explained in detail about the interplay between real estate capital appreciation, rental income/savings, mortgage rates, and rental rates, and how these factors can be utilised to unlock value for individuals who may not have had the means to own their own homes.

During the event, Ibukun emphasised that real estate marketers are experts in business and provide a valuable service to their clients, rather than mere “hustlers.”

She presented the blue and red ocean strategies, highlighting how unlocking mortgage opportunities represents a blue ocean strategy.

Moreover, she engaged the participants in an interactive session to assess their understanding of mortgages and how they can leverage them to boost sales.

Using a 10-year mortgage plan on a N30 million home as an example, Ibukun demonstrated that commercial mortgages in Nigeria are not too costly. She concluded her presentation by sharing a proven template that marketers can use to optimise the mortgage option.

During the event, Paul Foh led a session on ‘Leveraging Digitalisation to Enhance Real Estate Sales.’ He highlighted various techniques that real estate marketers can use to amplify sales by incorporating technology.

Foh emphasised the importance of visual content and the power of creativity to attract potential buyers. He stressed the need for consistency in creating brand awareness across all social media platforms, including WhatsApp, Instagram, Twitter, and TikTok.

Foh also underscored the significance of leveraging YouTube and provided statistics on its broad reach to potential buyers. He explained how consistency in online posting can lead to a compounding effect over time.

Moreover, Foh advised marketers to prioritise selling value over price to potential clients. According to him, “mentioning the price without explaining the value leads to lost sales,” as marketers are the ones who understand all the unique features of a property, such as its location, amenities, and proximity to business districts.

According to him, “Revealing the price first without providing valuable information to the client is counterproductive.”

Read also: Investing in sustainable real estate projects

He also shared his template response for marketers to use when customers ask for prices immediately.

Oghenereke, the Investment Manager of Rock Realty Limited, took to the stage to present the company’s current and upcoming projects. He discussed plans for opening an office in Lagos and available job opportunities for marketers.

Oghenereke also announced a 7percent marketing commission on sales of Bold Living Two Apartments, which is one of the projects currently under construction by Rock Realty Limited at Alpha Beach Road Lekki, Lagos.

Olateru-Olagbegi Olanipekun from Imperial Mortgage Bank gave a presentation titled ‘Selling the Mortgage Option’. He provided an overview of the mortgage process, from application to disbursement, including all necessary documentation.

Olateru also highlighted the differences between commercial mortgages and NHF mortgages.

Ichechi Okonkwo, CEO Victoria Crest, encouraged participants to gain knowledge as “you cannot give what you do not have.”

She further stressed that marketers should not see a client buying a piece of real estate through them as being done a favour as they are offering real value to the clients.

She added that female marketers should not be seen as using their bodies to sell real estate and that they should never compromise their bodies. She also spoke about working towards making more women developers in the industry.

Damilare Baker, CEO Damilare Baker; spoke during the interactive session, and gave feedback to marketers on how they should invest in giving value to clients. He mentioned how a lot of marketers lack the tools they can use in giving clients value for the fees that they charge. He also spoke about his support and loyalty to marketers who bring clients that purchased RealEstate from Damilare Baker

The event also featured panel discussion session, where Ibukun, Ambassador Funke, Olateru as a panelist, and Ehi Eluma participated. The panelists shared insights on their biggest challenges and how they overcame them. Additionally, the panelists addressed questions about diaspora mortgages posed by attendees.