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Back to the Basics- A Real Estate Agent’s Guide to Survival

By Cole Editoral

Is it a buyer’s market? Is it a seller’s market? Should I focus locally? Or maybe look to expand? When you start asking more questions and getting fewer answers, it’s time to get back to the basics.

The market may be uncertain but by taking a few steps in the right direction, you can make sure that you are prepared for anything that may come your way.

Start with a business plan

It doesn’t matter if you’ve been in the business for years, hit your first million in sales, or just signed with your first broker-you need a business plan.

You may carry around your goals and ideas for your business in your head, but studies show that writing down your goals, creating tangible timeliness and actionable objectives will increase your chances of reaching those goals1.

Check out this real estate Business Plan Health Check from Cole Information. It helps create goals for you no matter where you are or where you want to be.

Preparation and forward-thinking will help you develop that ounce of prevention that will get you through any market.

Prospecting

Back to the basics indeed.

Stop depending on your current cache of clients and expand your contact list. You may have been able to coast by on who you know, but that list may dry up quicker than you’d like to think. Be prepared. Prospect!

Think of all the potential clients out there as the wide part of a funnel. They are swimming around, looking at home listings online, considering a home sale, contemplating breaking into the world of property management, or looking to buy that dream vacation home.

Some of those potential clients won’t be ready for months, some will be ready next week, and yet others won’t be ready for another year. However, at some point, one of those clients will be ready. And when they are, they will slide down into the skinny part of the funnel and become your client.

Every real estate agent has a funnel and every real estate agent gets to decide how many people are in their funnel. The more people you have in yours, the better chance you have that a steady stream of clients will be headed your way- no matter what the market looks like.

So how do you get people into your sales funnel? You guessed it. Prospecting.

Think about running a voicemail campaign. You can use your custom lists from Cole Realty Resource with apps like SlyDial to maximize your prospecting time by dropping a pre-recorded message straight to in someone’s voicemail.

Buy ads on social media. While others are slashing marketing budgets, be the agent in people’s feeds.

Get some new business cards made. There is nothing like having shiny new cards in your pocket or purse that makes you want to hand them out. Leave your card everywhere. On counters, in bowls for drawing, ask to pin them to bulletin boards.

You may find that getting back to the basics not only fills up your funnel but re-ignites that sales fire that may have started to flicker out. Harness that newbie, go-get-em energy that used to get you out of bed in the morning and do your business proud.

Time may change, but the fundamentals of business stay the same. Build and evaluate your business plan, prospect constantly, and sell real estate, One. Two. Three. Go got this.

Download the Free Business Plan Health Check today!

Questions?