As the real estate industry continues its breakneck pace, it’s important to prepare your business for what lies ahead, while continuing what is working already. It might feel safe to stick with what you know, but top agents never just stay put.
Here are three areas you can focus on when it comes to keeping your business growing in this ever-changing–and downright unpredictable–industry.
1: Create Your Own Inventory
As professional REALTORS®, we know first-hand that the housing market is facing a lack of inventory. But where some see limitations and roadblocks, top agents see that the very factors that created the lack of Inventory actually create opportunity. If you know what those factors are and how to leverage them, you can generate new listings–listings that aren’t on the market yet.
Commit to sending out 10 “Neighborhood Reports” a day via text, email, video or hand-written cards for the next 90 days. If 900 consumers see that their home is in high demand and are reminded of how much equity they have in their home, they just might list with you.
2: Streamline Your Processes With Technology
In today’s on-the-go world, you should think about how to streamline your work to not only cut down on processing time, but also help keep you focused on your clients instead of paperwork.
Consider operating on an all-in-one proprietary platform, one that makes daily tasks more efficient and time-sensitive. This kind of tool, one that focuses on making an agent more agile in the field, offers more accessibility and options for creating personalized transactions. For example, agents should be able to accomplish everything from creating listings to checking the status of a transaction to uploading paperwork for broker review in the palm of their hand.
Without this kind of technology, you will not be able to transact at the rate you want and have what you need to edge out the competition in such a fast-paced environment.
3: Team Up With Trusted Partners
Teaming up with trusted professionals who specialize in the other areas of the real estate transaction like mortgage, title and escrow offers an opportunity to supply your clients with useful connections when they require additional support. Top agents tell me it is also one of their best sources of new business via referrals. Investing in these relationships cultivates dependable collaborators in your corner who continually refer clients to you and bring in not just ongoing business, but quality business.
The right partners also expand the scope of your services, enabling you to offer above-and-beyond service to your clients no matter what they might need. Plus, if you expand your mindset beyond just mortgage and title/escrow, and into roofing, electrical work, landscapers and more, you can build a large group of go-to partners that offers more to your clients upfront and throughout their transaction. This can greatly differentiate you and put you well out in front of your competition, creating new business in a tight market.
By pushing out of your comfort zone and seeing how you can improve your business, you’re positioning yourself for better potential results and quality clients no matter what’s going on in the industry.
Todd Sumney is the chief industry officer for HomeSmart. For more information about joining HomeSmart as an agent, please visit HomeSmart.com/join, or visit HomeSmart.com/franchising for franchise opportunities.