Recently Clear Skies Title co-hosted a Realtor MasterMind. The idea came from ongoing conversations about the elephant in the room – the real estate slowdown that has already begun to emerge. Newer real estate professionals may be nervous on how to navigate the changes seen from 2021 to 2022. Moreover, there are rumors about who is laying off and who is selling off to take early retirement. But what should we be doing? Here are 5 key tactics to help you navigate your way around the elephant and position yourself ahead when he’s left.
"Conversations regarding the housing market are odd right now but using this time to work on your business will help catapult you further when you have to work in your business."
#1 Your Clients
This is an excellent opportunity to evaluate your client support skills. Have you noticed over time that clients ask the same questions? Maybe you see a trend in emotion at a certain stage of the buying or selling process? Still unsure? Reach out to a few of your recent clients and ask how you can improve. Understanding your client and making adjustments in communications or process now will put you in a better position when you don’t have time to focus on a new client support strategy.
#2 Brand Positioning
Many people don’t realize that they represent a brand. Whether you are independent or part of a larger entity. Understanding your personal brand and delivering it with confidence builds relationships and business! Don’t know your brand? Check out top producers in your field. Look at their social pages and websites. Use their brands as insight into your own. Maybe you are the nerd realtor who always has the stats (we consider ourselves the nerd title agent). Or maybe you are the steward of Monmouth County. Whatever it is, lean into it and market it!
#3 The Wrap Around
Most often, businesses forget a client after they have purchased their product or service. Particularly when it’s a high ticket item and they won’t need to replace it for some time. This is a short sighted approach. Clients have friends and family who will need our services. Our clients will need our services again. It is much harder to convert a new client than it is to keep an existing one. Staying in touch may not guarantee another sale but it does improve the chances of being at the right place, at the right time.
#4 Spend Money
This may feel counterintuitive but you should. Seasoned business owners know that you can’t stop marketing or advertising when an elephant steps into the room. It’s time to ramp it up. Send more mailers. Attend more events. Start an ad campaign. It takes several touches for a prospective client to remember you or refer. Don’t pay for one mailer or one ad, do several of them over several months.
#5 Save Money
While you are spending money on marketing and advertising, you should also review where you can cut back. Are you paying for a marketing platform that you don’t use? Or maybe you use it but you aren’t satisfied. There are few free options available. We would be happy to recommend one to you!
There is a lot to consider in the above list but we are here to help! Let us know if you are interested in joining our accountability group. Built for real estate professionals who are interested in growing their business, sharing ideas and being held accountable.