Four Steps New Real Estate Agents Can Take Right Now to Succeed
I keep hearing agents around me saying “What is happening? This market is so frustrating! What do I do next?” And I know how challenging it can be. The good news is all indicators point to a “normal” real estate market ahead. One we haven’t seen in a while. A normal market is when there is a good opportunity for both the buyer and the seller. Homes may be on the market for three to six months as opposed to just a few days or hours. Prices are stable and homes are sold at or near the asking price instead of thousands of dollars over in a bidding war where negotiations are difficult, and all contingencies are waived.
After a few hectic years, it seems we are returning to a more balanced market—one that an estimated 70% of real estate agents that have been in the business for five years or less have never experienced. Change can be hard and many agents are starting to question if they actually have a solid business, or worse, they are leaving the industry.
This doesn’t have to be their fate. For those who love what they do and are willing to put in the work needed, there are great opportunities ahead! Many experts believe mortgage rates are starting to stabilize, and the number of homes available for sale is starting to rise. Activity will continue to increase in the 3rd & 4th quarter of this year.
What can we do to succeed in this new market? Here are four steps that agents can take right now to make the most of their opportunity in this great business to propel their success.
- Be a Trusted Source for Your Clients
People will continue to buy and sell homes. Life circumstances, such as a new baby, a divorce, or a job relocation will cause people to move, and they need a professional they can trust. With so much negative media coverage of the state of the housing market recently, it’s no wonder that potential buyers and sellers are hesitant and confused. Buyers are anxious because rates have climbed. Sellers are experiencing remorse because they did not sell at the height of the market.This is where you, as the calm, confident professional, come in. Be sure you are getting your information from valid sources. Know your market inside and out. Many times, what is happening in other parts of the country (or even your own state) regarding real estate is different from what is happening in your community. By knowing what is true where you serve, you can share that with your clients so that they can make an educated and informed decision.
- Create and communicate a full-service approach
As a real estate professional, you help your clients buy and sell their homes. Make sure to have an excellent client experience, a pathway to take them on during the transaction that is first class that they are happy to refer. Then, that relationship and upgraded experience should continue when the transaction is complete. (Or before it starts!) Stay in touch through personal notes, calls and dropping off a small gift. Let them know that you are there to help them if they need a referral for a fantastic trade or service or just have a general question on anything related to real estate.Remind them you are happy to help them or their friends and family with any real estate inquiry including investment needs as well. Show them that you are a competent professional who is consistent in staying in touch and well-educated in all things related to real estate.
- Connect with Other Like-Minded Agents
Referrals from other agents and service providers across North America can be a very lucrative way to build up your business. Ideally, you want to ensure that these other agents and business owners have the same principles and commitment to great service that you do. Connecting with like-minded agents who live in other areas or serve different niches is a great way to expand your network.
- Continue Your Training and Development
Keep learning and growing! For new agents, or experienced pros that want to work smarter instead of harder, participating in a training program like Buffini & Company’s 100 Days to Greatness® is so beneficial. In this intensive course, you get access to highly valuable information, resources, tools and action steps designed to help you learn and DO every skill that you need to be successful. You will graduate confident and prepared to take on any challenge in the market ahead…and the results are amazing… agents who complete 100 Days average seven transactions and $75,500 in income by its completion! It answers the question “What do I do next?” and it helps make the most of the opportunity. You’ve got this and we’ve got you!
Are you ready to take your career to the next step and beyond? We’ve got you! Visit www.buffiniandcompany.com/100DTG to learn more.