Monday, April 28, 2008

Changing your strategy in a competitive market. What works and what doesn`t.




In South Florida it seems at least daily another Real Estate Office closes,due to lack of business.Many complain there are "No Buyers", walking in the doors! Still others whine they have no leads. They forget this business is all about "SELF PROMOTION".

In the old days ( 10 years ago) business was developed. You had to work for it,nothing was given to you and believe me, it was hard.Buyer`s didn`t just walk into your office as they once had,fueled by a feeding frenzy.

Fast Forward to today.
Yes, the Real Estate market is slow,it`s extremely hard,but guess what?! The same formula applies today as it did yesterday.How of then do you work the telephones or emails?
When`s the last time you actually tried to developer your own business,instead of waiting for someone to "hand you a lead"?
Locating business isn`t for everyone. Networking,Advertising,and visiting a FSBO, can enhance your presence.

Our business is the sum of all parts.

1- Sales- No matter what anyone tells you Real Estate is showmanship, the ability to sell and understand what you`re client is seeking counts. The amount of time you invest is crucial to "Growing a business" it doesn`t happen overnight it takes years!Many can`t wait,which is why they`re leaving now.

2- Follow Up: I work the telephones and emails 365 days a year. I blog, network, send emails, all day long from Sun Up to Sun Down.
Some days I`ll go through 30-50 potential clients to locate just 1 who needs our services today!The others we continue to remain in contact with in our "Pipeline" of business.Referrals are generated this way!

3- It`s not what you know,it`s who you know:If you`re in the business for a few years you begin to know the "Players". Go out there and Network with your fellow Realtors. If you do good by them,they`ll do good by you!

4- Returning a telephone call. Something this simple many just don`t relate too.
There`s a company out there who preaches you should answer a telephone like a Doctor does! They encourage you to treat your business as such. They advise you to return calls between 12-1 and 5-6. That`s all great if you`re a Doctor seeing patients in an office all day,but in our profession,you`re as good as your last call!

5- Re-programing yourself. I know Realtors who are only "Listing Agents or Buyers Agents",they`ll tell you the reasons why you should be as well. Don`t listen! If someone is calling you on the telephone to view a listing,are you seriously not going to let them view the property? What about if the potential client wants to view other homes in the area, are you going to tell them to call someone else,and explain "You`re only a LISTING AGENT"? This is a recipe for utter failure.


The Real Estate business changes every 6 months and so should you!
The business is out there, you just have to work harder for it!

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