Get Ready to Turn the Corner Knowing what’s around the corner in the real estate market for late spring and summer is essential to your overall production for the year. Not being ahead of the curve could be the cause of significant lost revenue and productivity.
Absorption rates are up around the country: number of days it takes for properties that come on the market to sell and be replaced by others.
The point: If you are not pricing listings correctly, they will not sell! Walk rather than have your listing expire.
Expireds: Expireds ruin your reputation, and you won’t be able to count on referrals from angry owners. When a listing expires, it is the agent’s responsibility.
The point: Learn how to master the price-reduction presentation. Create the data necessary to show the reality of your marketplace relative to list and sale-price ratios.
FSBOs: The number of FSBOs will continue to rise. We have taught the public that it is easy to hit a few buttons and get a home listed.
The point: No matter what you did in the past relative to prospecting FSBOs, today is the day to master marketing and prospecting techniques that work well with FSBOs. More people will try selling on their own. Fewer will be successful. Who will they seek out when they give up? The agent who was professionally persistent and kept in touch.
Competition is fierce when it comes to securing listings: When you are talking listings, you’re speaking an ancient language. Compelling marketing is what agents are paid to do. It’s not a commission that we seek. It’s a marketing service fee.
The point: Don’t think you’re competitive if you’re not informed. Read, research, learn, educate yourself and never stop finding out what is on the collective mind of the public we serve. Don’t be a part of the growing “skills vacuum” that was caused by the many “newbies” who entered the business over the past five years. Knowledge, or what you do to make the information generate productivity, is what counts. Get smart (or smarter).
Utilize contact management fully: If you’re still struggling with technology, you are a dinosaur. Make it priority one to get systematized. Invest in yourself and streamline the process by no longer wasting time with manual systems.
The point: The best agents are using technology to the fullest extent. The agents who are not will be replaced by the others. It’s your choice! |
