When the market slows what’s a new real estate agent to do? The answer is simple: Embrace the down time and revamp your career. This is the perfect time to optimize your efforts by planning, polishing your presentation tools and implementing systems.
Here’s a list of the top nine activities new agents should focus on to get prepared for the busy months ahead.
1. Evaluate your business strategy, make changes and create a business plan
Way too many agents, new and seasoned, fly by the seat of their pants. This is an ideal time to dig deep into how you want to create real estate success, your way.
Effective business plans include time blocking, marketing budgets and actionable activities.
If you need help creating one, find a successful agent in your market and ask for ideas, hire a business coach or hit up google. There’s tons of information out there.
2. Reach out to someone you admire in your market, and take him or her out to lunch
Networking and building relationships are the core of a satisfying real estate career, and the more people you meet, the more confident you will become.
When you connect with more experienced agents, you have an opportunity to learn from them, and more times than not, they will appreciate being tapped for their wisdom and advice.
Be honest and upfront, and have a list of questions at the ready. Afterward, send a thank you card, and stay in touch.
3. Select a few activities that you enjoy doing, and become an expert at them
Do you love hosting open houses? Develop the best open house plan ever including invitations, shoe covers, balloons, neighborhood outreach, booklets, flyers, etc.
Go over the top and own that you are the specialist. Figuring out a way to stand out among all the other agents will catapult your career.
Perhaps online lead generation is more your speed. Embrace it, and really go for it. Implement your strategy for being the best online lead generation, and get your systems in place. When the market picks up, you’ll be glad you did.
4. Get organized
When the market is slow, you have the perfect opportunity to get organized, get your systems in place, order your marketing materials, etc.
Is there something you have been wanting to learn, but haven’t done yet? Take this time to learn how to do it.
Stock up on your marketing materials, revamp your listing presentation, and learn how to make a tri-fold flyer on the services you offer.
5. Develop a niche, and specialize
Are you ready to become the condo specialist, horse property specialist, senior’s real estate agent specialist, first-time homebuyer’s specialist? If you are thinking about it — go for it.
Agents who specialize gain so much momentum in their markets. This is an excellent way to differentiate and brand yourself as the expert in a particular area, and consumers will want to work with you.
If you don’t have a unique selling proposition, it’s time to get one. Check out YouTube and Google for ideas and guidance on UPS.
6. Got books?
Feeding your mind with positive information, helpful content and business strategies is vital to a thriving career, business, and life. Some great books to dive into are:
- The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod
- Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team by Simon Sinek
- Influence: The Psychology of Persuasion by Robert B. Cialdini
- The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! by Gary Keller, Dave Jenks and Jay Papasan
- In Search of Excellence: Lessons from America’s Best-Run Companies by Tom Peters
There are so many incredible books full of advice and wisdom, and you should always be reading at least one of them.
7. Volunteer
When the selling season is slow, it’s a great time to volunteer at a local charity, school or neighborhood association.
Giving back to the community is a vital part of connecting with others, it creates a win-win, and you will meet people who will appreciate your professionalism. Find something you are interested in and get involved.
8. Get a designation
Working toward a designation, such as your CRS, ABR or CNE, is an ideal way to gain additional knowledge in real estate while building your confidence.
There’s a plethora of designations available, and adding them to your tool box will open up ways you can educate consumers and offer an extra layer of service to their experience.
9. Get your CRM in order, and start using it
At the end of the day it doesn’t matter which CRM (customer relationship management) you choose; the one that actually gets used is the best one.
Make sure your CRM is up to date with all the people you know, their contact information and a plan for staying in touch. Offering a complementary comparative market analysis (CMA) for friends and family is a great way to show them you are a professional, practice your skills and stay in touch.
People will appreciate this gesture, and you will stay top-of-mind. Depending on the time of year and your budget, delivering pop-bys is a great activity too. Some ideas include pumpkin pies, bottles of wine, poinsettia’s, etc. Some ideas for mailers are calendars, movie tickets, recipe cards, etc.
Taking this time to get clear on your strategy is the key for future success, and you will know where to focus your energy.
Master your business plan, get some training, and connect with people. When the market picks up again, you’ll be prepared for business!
Debbie Biery is the Expansion Ambassador with eXp Realty. You can follow her on Twitter or LinkedIn.
