Compare your current business to earlier months. What’s different? Once you figure out a baseline, adjust habits and marketing to accommodate the change.
NEW YORK – Real estate professionals can develop skills to succeed in a changing market.
First they should identify what’s changed. They should monitor trends such as the number of closed sales, pending contracts and listed homes, along with average sales prices and average days on market. Agents should compare those numbers to those in prior months to detect patterns and cycles.
Agents should then communicate to buyers and sellers how the changes impact them. When creating marketing content, agents should ask themselves if their ideal client would value the information – and whether it’s easy to understand and enjoyable.
During slower times, agents should also build rapport quickly with people they meet and aim for deeper relationships. Smiling goes a long way, as well as compliments and following up conversations with a quick text or note.
Agents should have a schedule for calling or texting clients, or have their CRM or MLS automatically email them properties relevant to their situation. After the completion of a sale, agents can call clients on their home anniversary date, birthday or other special date to stay connected.
Another key skill: Be able to tell a compelling story, such as, “How I helped clients deal with a major hurdle.”
Finally, agents need to cultivate an unparalleled work ethic that pairs a person’s skills with execution. Even in a changing market, the hardest working agents will be top producers.
Source: Inman (08/25/22) Burgess, Jimmy
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