To say the market has been crazy the past few years is an understatement. Many realtors found new levels of success and saw unprecedented growth. As rates and inflation rise, buyer demand adjusts, and the market shifts, what should a realtor do in order to stay afloat? Better yet, how do you thrive in this new and shifting market?
I have two predictions. The first: only agents who have a clear strategy and plan in place will succeed in the coming years. Too many agents have had no need for marketing & strategy these past few years because it seemed like deals and clients were everywhere. My second prediction is that the agents who are most successful today will continue to succeed tomorrow.
As you consider a plan to excel in business in this shifting market, assess your plan with this three-point test.
Consistency
If you look at the top 50 realtors in Columbus, you will notice they are a very diverse group of people. There are teams and solo agents who all work with different groups of clients. They have varying strategies of business. While strategies may differ, they certainly have one thing in common: consistently sticking to their plan. Whether your focus is print marketing, social media, networking, or podcasts, you simply must stay consistent. Consistency builds a snowball effect, multiplying your efforts over the long run. No REALTOR® reached the top 50 overnight.
Give Value to the Community
If you look at the marketing of a typical REALTOR®, it’s almost always the same. “My name is…I’m a REALTOR®…and I’m the best…Send me referrals and deals.” If your potential client hears from 10 different REALTORS® all saying the same thing, how can you stand out? One of the easiest and consistently successful ways is to provide genuine value. Rather than asking for something, give value. Maybe the “value” is education about a local market or maybe it’s funny content related to real estate. Whatever the case, don’t be the REALTOR® that is always asking and never giving. Out of a group of REALTORS® shouting “Give me your house to sell!”, be the one person that says “How can I help you?”
Be Humble
Humility is a very interesting suggestion for a marketing and branding strategy, but it is vital nonetheless. Humility will help you succeed in many ways. It’s like the glue that holds together much of the ship you call your business. In other words, pride is any great person’s downfall. Whatever plan you adopt for your business, you must have enough humility to admit mistakes and make corrections. The plans that worked 5 years ago, most likely won’t work today. Have humility when interacting with individuals, whether they are clients or competitors. 100% of people that put money before good and genuine treatment of those around them, fail in the long run. Have enough humility to help those in need, especially when it may not seem very profitable. Having a humble approach to business is the foundation to a business owner who consistently gives back to the community.
My challenge to every new or seasoned REALTOR® and affiliate working in real estate is this: be the business that consistently gives back to the community with a humble heart.
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