Business Strategy: Talk to Your Future Business
It’s easier to make current plans when one eye is focused on the future, and the housing market will one day open back up. For today, nurture your likely future customers.
NEW YORK – Mid-year forecasters suggest economic conditions are poised to improve, spurring an increase in purchasing power in the near future. This makes it important for real estate professionals to communicate with their future business – the people likely to buy or sell property eventually.
Agents should regularly communicate with their sphere of influence in a clear, confident, and concise manner. They should also adopt a consistent message across their communication platforms, including email, direct mail, social media and in person.
Agents who position themselves as the go-to agent who can lead someone through a confusing market, lay the groundwork for direction personal communication and eventually referrals.
Agents also need to use relevant statistics and data points in the local MLS, tracking things such things as days on market, list to sale ratio, average sales price, median sales price, company sales and multiple offers.
In addition, agents should implement a service-focused strategy and offer something of value to their sphere. For example, agents can provide data on how much homes in a particular neighborhood are listed for, special features of a home that are not easily accessible, and trends in remodeling that could increase the value of a home.
Finally, successful agents are those who can shift from personal acquaintance to professional advisor by building a relationship that focuses on the value they bring, both as a friend and real estate professional. This primarily hinges on agents demonstrating their expertise, perception of market data and trends and willingness to serve.
Source: Inman (08/17/23) Payne, Gavin
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