Agent Academy: Marketing Preparation
I am hearing a collective “holding of our breath” in the Real Estate world right now. It’s natural to feel a little bit of fear when the real estate market starts to change. After all, your livelihood is at stake! To be honest, we have gotten spoiled as agents in the last 24 months. Listings selling for insane levels above asking price, buyers so “motivated” that they would do just about anything to get the home. Homes selling in hours and at most days. My friends…this simply isn’t reality and the proverbial dance is about to end.
In every changing market there are leaders, companies and agents that thrive and expand. In fact, as others are in fear it represents an optimum time to gain market share. My clients and many of the top agents are celebrating this change and welcoming the adjustment. Why? Because they are prepared. I’ve found there are three simple steps you can begin with to lay the foundation to have certainty versus fear in these new times.
The first step is to educate yourself. You can’t make informed decisions if you don’t know what’s going on in the market. One of my mentors used to say to me, “Knowledge Equals Confidence and Ignorance Equals Fear.” Start by studying industry publications (Keeping Current Matters is a must), listening to podcasts, and attending webinars. Dive in weekly to your local MLS numbers to first educate yourself but secondly to be able to talk intelligently to clients about local and national trends.
The second step is to create a plan. This doesn’t have to be a complicated, 100-page document – but it does need to lay out your goals, strategies, and timeline for taking action. What do you want to achieve in the short-term? How many people do you need to connect with daily? How many appointments weekly? What strategies must you implement? What skills must you sharpen that you haven’t used that will now be necessary in this market. Here are some I recommend you start with:
- Pricing Property Competitively
- Creating urgency with buyers and sellers
- Getting Price Reductions
- Implementing a weekly “seller follow up plan”
The third and final step is to take action. This is where the rubber meets the road – it’s time to put your plan into motion and start seeing results. Remember, confident people don’t just sit back and hope for the best – they take charge of their own destiny by taking massive action. So what are you waiting for? Get out there and start making things happen!
By following these three steps, you can massive confidence in the changing real estate market – no matter what happens. So don’t be afraid to seize opportunities and take your business to the next level. The sky’s the limit!
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