The real estate market has certainly seen better days. However, a lagging market represents a great opportunity for those agents willing to ride the waves. When things were booming, the real estate industry saw a large increase in the number of agents nationwide. Everyone saw dollar signs and ran to be a REALTOR. Now, we are seeing record numbers being forced to either leave the business or work a second job.
Agents who want to thrive and succeed in not only a down market but the eventual and impending rebound, must dedicate their time, energy and money towards developing their business and differentiating themselves from the rest of pack. The industry is constantly evolving with new technology, innovative strategies and fresh ideas. In order to come out on top when the market picks up, today’s agent cannot just go into hiberation and wait for the sun to come out tomorrow. When the market heats up again, it’s those agents who worked now that will reap the benefits of their labor.
You cannot remain idle and hope things will get better, you must be proactive! Agents must go back to basics and reinforce their overall strategies, engage their sphere/farm and actually seek out business. What is most daunting is the fact that many agents who have yet to see such a down market don’t actually recognize what the basics are. Invigorate your contacts… set up direct mail campaigns, use e-cards to send notes and news, know your inventory, get your name out! Scroll your palm pilot, Rolodex… whatever, choose a contact, pick up the phone, dial their number and start a conversation. Buyers and sellers are no longer going to magically appear at your door, you must seek them out, warm them up and ask for their business.
Remember… being proactive today will lead to an increase in productivity tomorrow.
Posted by changeagent
