The current state of the market is fraught with change. Interest rate fluctuations and unpredictability of inventory means consumers need your help, expertise, and hands-on guidance more than ever before.
Even if your current systems and processes are working well for you, you’ll want to review your workflows and refine what you have in place. This will ensure you’re ready at the drop of a hat to support buyers, sellers, and everyone in between. It will also allow you to be up to speed on any changes or nuances coming the industry’s way.
In a time like this, what are some of the best ways to take advantage of this market?
Stay Ahead of the Game
As consumer demand shifts in varying directions, you want to always be prepared to serve your buyer and seller clients, no matter the circumstance or timeframe.
Stay ahead of the curve by making the time to invest in sharpening your skills. Invest in your expertise with things like:
- Continuing education: As a real estate professional, you want to make sure your skills are always up-to-date in a constantly-changing industry. Reach out to your brokerage or local real estate board. They can help you access continuing education and training resources, including training materials for exams or pathways to earn certifications.
- Training: If continuing education isn’t available at this time, see if your team or brokerage offer training or refresher courses. Seize any opportunity to take advantage of training sessions to dust off your skills.
- Mentorship: Investing in finding a real estate or business mentor can make a world of a difference in your professional development. A mentor can provide you with insights into years of experience — including mistakes made or lessons learned. This relationship can go a long way in strengthening your skills.
- Networking: Another key relationship-building exercise? Networking. Taking the time to network can help you grow your clientele and source referrals. It’s also a great way to grow your business by boosting your visibility and market presence as a real estate expert.
Taking these steps helps ensure you always stay updated on the latest changes in the market on a broader scale. Being deeply invested in knowing the market around you is critical in its current state.
Be a Leader
If you’re a team leader, make sure you’re actively setting your team up for the utmost success.
Start by assessing your team to see what areas have room for growth and refinement. Then, create a plan and commit to providing education in those specific areas. This could look like hosting training sessions, sending team members to conferences, or investing in certification courses.
If you’re not sure where to begin with improving your team’s skillset, you can also consider bringing on a real estate coach. A real estate coach is equipped to quickly assess strengths, weaknesses, and areas of opportunity and craft an improvement plan accordingly.
Investing in your team members and growing their expertise ensures you all can maximize the market conditions and shine in your local area.
Get Back to Basics
Sometimes, simple is simply better.
Take your efforts back to the early days of your career to help drive success and make your presence known in your community.
Door-knocking and canvassing neighborhoods to let prospective buyers and sellers is a must in this market. It lets these prospective client bases know you’re ready and willing to support their needs, which goes a long way in reinforcing your market presence.
You also want to ensure you’re nurturing your leads and previous clients. If you’re already doing this, consider revamping your current flow of outreach:
- Email drip campaigns: Update your email campaigns’ content to regularly include the most current market changes.
- Audience targeting: Make sure to tighten up your email segmentation so the right messages are being seen by the right people. You don’t want to send new listings to your recent clients that closed, so triple-check that your emails are accurate and relevant.
- Set a schedule: Do you have auto-responders set up? How about a calling schedule for past clients or leads that cooled down? Taking the time each week to block out hours dedicated to follow-up can go a long way in conversions.
As you get back to basics, get involved in your community. Sponsor events or organizations, rack up hours volunteering, host workshops, and other key activities. Amping up your community involvement ensures people have a chance to see you, know you, and be more familiar with your business and brand.
And, it gives you the chance to give back — another critical need in the current market.
Make Sure You’re Set Up for Success Regularly.