RE Paradoxes That’ll Change How You Do Business
The money paradox for real estate firms occurs when money must be spent in order to make money, even when cash flow is inconsistent or seasonal.
TALLAHASSEE, Fla. – Rather than follow the old model of "always be closing,” professionals should consider ways in which they can better serve their clients and provide them with value.
The closing cycle itself takes 60 to 90 days, which means the more value you provide before closing one sale can lead to additional sales in the pipeline over time.
When encountering problems during transactions, helping clients through those difficult transactions will lead to referral partners for the long haul. This is the time when real estate professionals negotiating skills are tested and their knowledge is leveraged during the closing process.
The selling paradox happens when professionals want to make sales, but buyers don’t want to buy when they feel pressured. That is the time when real estate professionals need to put the buyer first and provide them with the information they need to make a decision, then leave them enough room to make it.
The money paradox for real estate firms occurs when money must be spent in order to make money, even when cash flow is inconsistent or seasonal.
To reduce this volatility, real estate firms should consistently invest in training, marketing and assistance to scale the business. Real estate professionals also need to not hold back due to fear of the market or fear of doing something new with marketing, etc., because any investment will have returns for the business.
Source: Inman (02/02/24) Burgess, Jimmy
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