10 Tips from 10 Experts
7. Industry coach Matthew Ferry: For agents, I would say that they need to find that faith they had in themselves before. I’m doing a webinar for all of my clients that includes a six-point action plan to help them find the courage and strength to make 2009 their best year yet. It takes honesty—about finances, about whether this industry is the right industry, and about resentment and anger. These mindsets and energies have a very damaging effect on productivity. People know what to do, they just don’t do it. They don’t do it because of hidden negativity in their mindsets. This must be discovered and removed.
For brokers, I would have to tell them to get to the heart of each agent’s passion and purpose. Most people are focused on what doesn’t work about life right now and, consequently, draw from that energy to make decisions. This is very detrimental and will pull you further into a mental breakdown. The key is to discover the future you are committed to and get focused on that. Everyone is operating in relation to the future they are present to. If you are in despair, then you are present to a bleak future. If you are empowered, then you are present to a future that you are looking forward to. Today’s action is a function of the future.
8. Real estate expert Walter Sanford: Short and simple: “Triple (at least) your current listing inventory.” This positions you to win when the market turns.
9.Speaker and trainer Claudia Wicks: Learn online marketing and how to use the technology tools consumers are using. You need to have an online presence and, of course, develop a database of prospects. Establish relationships with more prospects than ever before. Collect email addresses; use tech tools to stay in touch automatically until they are ready to buy and/or sell, and stay in touch with past clients.
According to NAR, many agents have been in the business seven years or less. They have never known this type of market. They do not know what to do to generate business. Agents who have developed a large database of prospects, however, are not struggling. They have a steady stream of business. In this market, you need to get down to basics and build your business. That means generating prospects. You can do it by talking to everyone you know and asking for business by networking and letting everyone know it is a great time to buy. You also can do it by creating an online presence and branding yourself by marketing your own web site, blogging, joining social networks, and responding immediately to online requests for info.
Show up every day, and start working. Stay motivated by doing something nice for someone else, by talking to past clients, and by watching how you talk to yourself and not listening or “buying into” all of the negative talk. You can do it by believing in yourself
Brokers and managers, the smartest thing YOU can do is provide training and encourage new skill building for your agents. Keep them engaged in productive activities such as networking opportunities, open houses involving the entire office or office tour of homes, or showing them how to market their listings online. I’d also suggest having “call nights” where they call past clients to stay in touch. Also provide them with valuable information such as:
which price ranges are selling, list price to sales price, days on market
how to handle issues that arise at closing
how to work with appraisers to help ascertain value
what type of financing is available
good news at the office such as new listings, sales and price reductions
short sale help
foreclosure information
how to get a price reduction
how to help get a listing in good condition or staged
10. Recruiting guru Judy LaDeur: Agents, DO NOT read the newspapers, and please turn the TV off! Agents are glued to TVs and reading papers like never before, just looking for the gloom and doom. I say, “Ignore the press!” There are opportunities in every market, and the agents who are finding them are having a great year in real estate! This is a great time for apartment renters to buy homes. It also is a great time for sellers in a starter price range to move up to their dream home. Price homes correctly, and stage them well. Homes are still selling! If you have listings that are not priced and staged correctly, get rid of them!
Brokers and managers, I’d tell you to first trim the fat! That means look at your costs, and see where you can cut back. You also should look at your agents, and trim a few of those as well. Most brokers right now are carrying agents who need to be out of the business. Those agents drain your office resources and staff.
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