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Take a good look around your office and you will find that group of agents who produce the same income more or less every year, regardless of the market conditions.
Just how are they able to pull this off no matter what’s happening in the world, with the economy or with the many other variables that affect the housing market? There is always something going on that affects real estate, and if we wait for the market to be perfect to make money, we will be waiting for a very long time.
Some agents make it look very easy but just what are these mysterious, successful agents doing while the rest of us are wondering why things are so slow?
The important thing to remember is that regardless of the market conditions, real estate is changing hands every day, everywhere, in every market, and there is nothing stopping you from getting involved. As long as homes are being sold, and they always are, you can make the money you desire and are willing to work for.
Follow these 3 steps to make the money that you deserve in any market
1. Adjust your state of mind
Don’t buy into the people telling you that things are slow or real estate is hard right now. Your income possibilities are unlimited, regardless of the market. You have to figure out how to get in the middle of more deals. So how do these great agents do this?
The one thing that these agents have in common is that they change along with the market conditions. They don’t just keep doing what they’re doing. As the market changes so do they. They switch to seeking the business where the business is. Always be looking to pivot and be super flexible. Your success lies in your ability and willingness to adapt.
2. Increase your activity level
Successful agents in slower markets ramp up their lead generation activities. They understand that they not only have to pivot when the market changes, but they also have to massively increase their efforts to get the same results. Here is where top producers separate themselves from everyone else. Most people just won’t increase their output. They keep doing the same old thing until the market returns to them.
3. Keep spending
Successful agents don’t stop spending money where it is bringing them a return. They know stopping all spending is the worst thing you can do, as doing so will shut down your business. They continue farming the right way, they keep paying their coach, and they continue with any spending that is bringing in deals and increasing revenue for them. They monitor and adjust the amount and where they spend it, but they keep going.
There you have it — three simple steps that you can take right now to increase your share of commissions in any market. Like most solutions to increase real estate production, they are straightforward but not easy for most people. Much of your income potential is totally controlled by the activities you choose to do every day. We must choose wisely.
Nothing magical here, just the courage and motivation to do what it takes and the flexibility to change with the market. Go out and take your fair share, and join that group of agents who have it figured out. You deserve it.
Joseph Santini is a managing broker at Coldwell Banker Realty in Boca Raton, Florida. Connect with him on LinkedIn.
