#Realtors: No Matter the #Market – Pt. 1
It’s summer. It’s hot. It’s real hot. For example, here in North Myrtle Beach, SC it was 92 degrees by 10 am type hot today. And the real estate market? Well, not bad either. I mean seasonally, summer is always steady and pretty cooking when it comes to buying and selling traffic in our local real estate market. But this year and last, summer has been solid as far as sales activity in our myrtle beach area. The challenge for me personally is the time of year, summer, with kids out of school and schedules being distorted and un-disciplined when it comes to consistency. Meaning: it’s crazy! I love the school year way more when it comes to the routine that it offers for my work schedule as a Realtor. But, we adapt and we thrive, striving to keep and create more momentum when the market is good. It just takes some creativity.
Our real estate market is still strong by most factors. Sure, their is a duality in our market with luxury homes vs. the majority or median priced homes. We see a more “buyers market” tendency when it comes to the higher end priced homes, and a sellers market with high demand under the 300k price point. Many Realtor’s are capitalizing on the strong market and making a good amount of money in the process. But that shouldn’t be the goal. The goal should be to build your business when things are good, because a new cycle (bad market) is always around the corner. It’s not if, but when. Let’s not be blind to the real estate cycles over the last 50 years. We have very analytical data about where the market is heading after trending upward for this long. But that’s not the topic of this discussion – the topic i want to address is what do we do in THIS market currently? How do we capitalize now, ann for the long haul as well?
- Keep Marketing and Branding. Period. – Don’t stop doing what got you here and will grow your business. Don’t let current deals totally take away time from keeping your marketing and branding efforts rolling to sustain and grow your business over the long haul. You have to keep your focus long term. Giving up on your marketing and branding machine will inevitably lead to a collapse of your business if things slow down.
- Save. – Saving money and building a cash supply when things are good is obvious to anyone in a commission income career. The trick is the “why” you are saving? You see, you can double down as a real estate agent by saving cash and investing in property when things tank. You are the expert! Make sure you are planning to demonstrate those skills by buying when things are ripe to buy and you can accumulate wealth for you. (Bonus tip: bring value to your investor buyers by guiding and showing them how to do the same**)
- Database & Communication. – You may be hitting big with immediate transactions and deals now – but that does not mean ignore those not ready to buy or sell. Database and communicate constantly. If you really want to create a flywheel motion for your business over the long-term, then no lead or person should be neglected. Always keep momentum by growing a huge database/audience *and building relationship through communication) that you are in constant contact with. (see tip 1. above)
Hot market? Yes. But are you doing things to be successful in every market, no matter the temperature?
http://www.DiscoverEagleRealty.com – Career
http://www.Facebook.com/ChrisWardBIC – Chris Ward BIC Page
http://www.soundupnow.com – Alexa