As a real estate agent, the struggle is real in these times. 🏃 Competition, an uncertain market, government changes, Trump. 🤠
How much time ⌛ on a weekly basis do you spend cold-calling and making house visits to find new clients wanting to sell their home? And how is this working out for you?
The entire dynamic of the market has changed. If you want to survive and thrive, you have to follow three Ps :
Okay, the last one doesn’t really start with a P but what does Improvement actually mean?
Improve your situation and yourself so that the return you receive is a direct correlation to the effort put in by ensuring all these factors are assessed:
- Your time spent
- Your money spent
- Your suburb/local area knowledge
- Your knowledge of current market conditions and the economy
- Your knowledge of marketing and advertising (offline and online)
- Your brand presence and strength
Contrary to popular belief, don’t spread yourself out too thin or you risk your efforts at improving – don’t spend all your time on prospecting, don’t spend the most money that you can cobble together, don’t trying to work multiple suburbs and towns, don’t try to understand the whole economy, don’t try every marketing and advertising method in the book, don’t put all your effort in your brand.
What do you do then?
You instead niche down on all of these factors, picking wisely to ensure that you and your prospecting efforts are improved:
- Be wise with your time, set aside a certain time every week to focus on all prospecting efforts – whether door to door visits, social media posts and ads or a team building session at the community club.
- Spend budget on selective investments instead of trying everything at once.
- Get deep into your local area – find out as much as you can about the demographics of people around you, what makes them tick and what challenges are being faced. Understand your competition dominating the area and study amenities and properties on the market.
- The market in Auckland can be drastically different from the market in Westport but the principles are the same. Find out what part of the property cycle you are in by reviewing trends of sales numbers and prices over the last 10 years and visualise this from both the buyers and seller’s point of view to understand the pros and cons for them if they were to buy or sell right now. This will help you reason/negotiate effectively.
- Focus on an “Online first” marketing and advertising strategy which is where most people hang out (parks and malls are deserted these days!). Once your online marketing plan for the next 3 months or more is set in stone, you can assess options for offline advertising.
- You may be a newbie compared to those agents in the game for decades but you have to give an impression that you’re knowledgeable, an expert and trustable. Build your brand and crowds will flock to you. They won’t think twice if you can do this successfully.
Remember, Focus on Persistence, Patience and Improvement with quality rather than quantity in mind and you will start getting and closing listings. 🏖️🍹
Which of these points are you struggling with the most in your day to day routine? Let us know below.