I don’t know if y’all are feeling it but the market has slowed down dramatically for us. Our number of transactions are down, our listings are down. And our income is down.
There is definitely a different vibe in the air today than there was last year at this time. Are you feeling it where you are?
If you haven’t been through a market shift before one might say you’re lucky and maybe they would be right. But I’m not so sure that ignorance is bliss in this case.
I’ve been through a couple of shifts which makes me lucky I suppose because I know what they are like and can draw on experience to navigate this current shift. So yea, good for me! Humpft, it still sucks.
It is what it is though and here’s what I know. You either get rolled over by a changing market and find yourself out of business or you bare down and get through it.
This is important so I will say it again.
You either get rolled over by a changing market and find yourself out of business or you bare down and get through
How? How do you get through it? Here’s how.
More… more of everything.
More conversations with buyers and sellers. Talk to them about what their plans are with regard to real estate.
More follow up with your database. Reach out to them and ask… Did you get what I sent? Tell them a stat about something that matters to them.
Feel me here? Reach out to them more often and tell them something about something that matters to them.
Be careful here. You have to bring something of value otherwise you become a pest and they become annoyed with you.
You are going to need more people in your database. That means more phone calls, more door knocking, more open houses, social media, and mailings.
The great Billy Idol hit the nail on the head in his classic song from the 80s, Rebel Yell, when he sang, “With a rebel yell, she cried More, More, More… More, More, More!
For the last 10 years prices and number of transactions have more or less been been on the rise. Meaning if you did the same things this year as you did last year you will get a raise.
Heck, some Realtors did less and because prices went up they actually made even more money.
Well, that's not the case anymore. Now you are going to have to do more next year to make the same income as you made this year.
Don’t get bummed out. This is a good thing. It’s healthy. It’s needed from time to time. For those of you willing to grind and get back to using good, solid, fundamental business practices a shift can be a springboard to an even bigger and more lucrative career.
Do the hard work now so that when the market shifts again - and it will shift again… and the number of transactions will pick up… and prices will jump up with them…. and… and… so will your commissions earned.
People, do the work now so you will be lean and mean ready to ride that next wave to… who knows where or how high it will go? I don’t… but I do know this… wherever it is.. it will be great!
Hey, it’s only Friday. You still have another day to go before the weekend so let’s hit it hard again today and finish the week strong.
You got this. Here we go. Let’s get it.
