The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.
We’re all aware of what the economic forecast for the next year looks like — and it’s likely that 2024 is going to present some challenges. Agents are going to be working hard and pushing themselves in uncomfortable ways.
In short: 2024 is going to be a growth year. You have the opportunity to approach the challenges of the market strategically and rise to the occasion, adapting and learning to push your business in new ways to meet the current needs of the consumer.
As a seasoned executive in the real estate world, I’ve witnessed the industry’s ebbs and flows. Drawing from experience and a forward-looking perspective, here are seven essential strategies to help you prepare for a successful 2024.
1. Define ‘success’ for yourself
Take the market into consideration, and get clear on what a successful 2024 looks like for you. Is it hitting a certain number of deals or dollars closed? Is it trying new marketing tactics? Is it building your connections? It will look different for every agent.
2. Embrace the discomfort zone
We’re entering growth mode this year, and that means leaning into new things. Don’t stop if things are slow — just keep moving, and continue to put energy into your business. If you aren’t uncomfortable, you likely aren’t pushing yourself.
3. Look for solutions from the inside
As they say: Wherever you go, there you are. “The grass is greener” is an easy trap to fall into, but you have green grass right here in front of you, so let’s plant the seeds. What is available to you right now and right here? Seize it, maximize it, and put it to use. Remember, you’re the hero here, not the victim.
4. Lead the real estate experience from start to finish
Be the expert — your client’s primary resource. Offer a comprehensive experience that owns the entire real estate ecosystem. Make sure you fit in along every step of the journey by integrating yourself into the full real estate experience.
5. Intentionally engage your sphere
This isn’t the year to hide away — it’s the year to be as visible as possible. Get in front of your sphere both in-person and online. Figure out your monthly touchpoints — whether it’s your newsletter, sponsorship opportunities or events — and get out there.
The truth is, some of the old-school grassroots networking and marketing opportunities are still the best way to engage with clients and build new business.
6. Expand your job title
Give yourself a promotion because you might have to wear a few more hats this year. Grow your offerings, find a new niche, and own it. Whether it’s leasing or new development, listen to what your clients are asking for and be the solution to their needs.
7. Leverage your collaborative community
Lean on your brokerage and other agents. Building connections, sharing insights and learning from each other is one of the most powerful tools in our toolbox. It’s one of our focuses at The Agency, and I can vouch: Connection is powerful.
Going into 2024, you also need to know this: At the end of the day, you’ve never arrived. There’s always a next thing to do, more to learn, ways to grow yourself personally and in business. You’re never done. And I don’t say that to discourage you. I say that to inspire you. Shift your focus from a destination to a journey. Because that is the beauty of it — the possibilities that lay before you.
Rainy Hake Austin is president of The Agency in Los Angeles. Connect with her on Instagram.
