The real estate market is an ever-shifting industry. So how can you prepare and be ready for inevitable changes that might affect your day-to-day? In today’s episode of The Real Estate Sales Podcast, Jimmy shares seven ways to thrive in a shifting market.
1. Re-engage with past clients
- As the market shifts, share your knowledge and information with others.
- Investing in relationships with your clients carry you, no matter what happens with the market.
2. Review your expenses
- If fewer transactions are coming, review what you’re spending money on and determine if it affects your bottom line.
- Make a list of all your outgoing transactions every month, and determine if you can cancel or reduce your expenses.
3. Refocus on the fundamentals
- When your business began to take off, what were you naturally successful at doing?
- Whatever tactic or strategy made you successful, refocus on those elements to rebuild the momentum you might have lost.
4. Respect exiting agents
- When markets shift, some part-time agents will exit the business. Offer to pay them referral fees if they’re willing to introduce you.
- You’ll help them, help their clients, and ultimately help your business!
5. Refresh your online presence
- Produce a content calendar to plan out your online content to maximize your online opportunities over the next month.
- If you have yet to create your Google My Business page, now is the time to do so.
6. Renew your mind
- It’ll be difficult to grow if you feel stagnant in your knowledge and education.
- What are you doing to continue to learn? Go to conferences, watch YouTube videos, and read books to learn something that will further your business actions.
7. Remember your why
- Why did you enter the real estate business? Tap into your why to renew and refresh your dedication to your work.
No matter what happens to the market, this year will be some agents’ best year, no matter what happens to the market. So why can’t that be you? Double down on your goals to see growth, regardless of what happens in the market.