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We're going to talk about a rather taboo but nonetheless very real subject for every notary: how can I increase my sales in a sluggish real estate market? While real estate represents a major part of the business for many notaries, many of them have been affected by market turbulence in recent months. And change, when undergone, rarely heralds good news.
As Charles Darwin said, "The species that survive are not the strongest, nor the most intelligent. But those that adapt best to change". It's important not to put all your eggs in one basket to protect yourself from the vagaries of the market, and the best way to adapt and limit risk is to diversify.
Service diversification: offer new services to existing customers
"You're never better served than by yourself". You can start by putting this adage to good use and offering new services to your existing customers. You won't have to pay any acquisition costs for new customers, you already know them and they trust you.
Adapt your services to the needs of your existing customers! For example, you can develop your advisory services: wealth strategy, legal advice on wealth management, etc.
While in legal and tax matters, you have an obligation of result, this is not the case for wealth management, where you only have an obligation of means. Another advantage of wealth management consulting is that you are not subject to regulated fees, so you can charge whatever you like for this activity, depending on the case, its complexity and the demand.
By developing new skills, you can offer new services during property market downturns and cushion market fluctuations.
Customer diversification: attracting new customers without a regular notary
The other lever is to attract a new customer base: according to the ADAN-KPMG study on the web3 published in 2023, nearly one in 10 French people own crypto-currencies (8%). This proportion rises to 1 in 6 among 18-35 year-olds. And this trend is unlikely to slow down, as there will be a billion crypto holders by 2030, according to a BCG study (What Does the Future Hold for Crypto Exchanges? 2022).
Clearly, this is a new, fairly young clientele, who do not have a regular notary, and whose numbers will only increase in the coming years.
Although it's currently a niche market, it's crucial to be present from the outset to benefit from the first-mover advantage and stand out from the competition. By communicating now on forward-looking topics, you bring value and position yourself as an expert and forerunner to attract new customers.
Implementing service diversification or customer diversification represents a significant initial investment in time and capital, but it's crucial if you're to stand out from the crowd and achieve sustainable results over the long term.
How can you implement this strategy effortlessly right now?
If you don't have the time to do it properly and sustainably, we can help you activate these 2 levers.
Diversification of services:
- Raise your customers' awareness of digital heritage issues thanks to the customized content we prepare for you (newsletters).
- Offer your customers the opportunity to carry out a census of their digital assets to create a 360° wealth assessment!
- Keep up to date and position yourself as an expert thanks to guides and webinars designed for you, as well as more advanced training courses.
Customer diversification:
- Gain visibility with users looking for a notary to assist them with the transfer of their digital assets
- Offer them your other services once this first need has been met (real estate, weddings, etc.).
Don't hesitate to contact us, we'll be delighted to answer any questions you may have!
Want to know more about digital assets? Discover the 6 key steps to staying on top of digital asset developments.
