If your struggling to sell homes because of the recession, you may be forced to reinvent your business by pursing today's demand. You probably realize that this real estate market is significantly different than the real estate market from two years ago.
To make money in today's market, you must study demand. You must invest some time researching your market. Many small businesses make a critical mistake when looking to make a change. They spend time and money pursuing a new opportunity without knowing if the new opportunity will generate income. This is actually backwards. Find out what is selling today in your market. Then build your business around this opportunity.
Right now there are a few agents in your market who are experiencing an increase in sales. This means some homes are selling and some agents are doing very well. You must find these pockets of activity in your market.
Many agents are trying to sell homes in the wrong market segments. For example, one agent I know is still trying to sell high end homes when the demand for these homes has evaporated.
This agent is actually setting themselves up for failure because these they will invest countless hours and thousands of dollars trying to build a business into a market segment with limited demand. Instead, this agent should research the following in their market:
2. In what price range are most homes sales occurring?
3. What cities have the most home sales?
3. What specific geographic areas are most homes being sold in?
5. Who is buying these homes?
5. Who is buying these homes?
6. What agents seem to be successful closing deals?
7. What are these agents doing to get clients?
Reinvent your business around the homes that are selling today. Create new advertisements. Adjust your presentations. In other words, use recent home sale activity to show you were to focus your sales efforts.
To make money in today's market, you must study demand. You must invest some time researching your market. Many small businesses make a critical mistake when looking to make a change. They spend time and money pursuing a new opportunity without knowing if the new opportunity will generate income. This is actually backwards. Find out what is selling today in your market. Then build your business around this opportunity.
Right now there are a few agents in your market who are experiencing an increase in sales. This means some homes are selling and some agents are doing very well. You must find these pockets of activity in your market.
Many agents are trying to sell homes in the wrong market segments. For example, one agent I know is still trying to sell high end homes when the demand for these homes has evaporated.
This agent is actually setting themselves up for failure because these they will invest countless hours and thousands of dollars trying to build a business into a market segment with limited demand. Instead, this agent should research the following in their market:
2. In what price range are most homes sales occurring?
3. What cities have the most home sales?
3. What specific geographic areas are most homes being sold in?
5. Who is buying these homes?
5. Who is buying these homes?
6. What agents seem to be successful closing deals?
7. What are these agents doing to get clients?
Reinvent your business around the homes that are selling today. Create new advertisements. Adjust your presentations. In other words, use recent home sale activity to show you were to focus your sales efforts.
About the Author:
Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients, has written a very practical book on how real estate agents can sell more homes For a limited time, you can download his entire book for free by visiting Renegade Millionaire Strategies for Real Estate Agents
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