Over the last few months, many real estate agents have been forced to reinvent their businesses. Many real estate agents understand the need to change, but don't know where to start or how to do it. In this article, I'll show you how to quickly reinvent your business around the best home sale opportunities in your marketplace.
To start, you must stop and try and find the money in your market. This means you need to study demand. Most small businesses don't study demand. They have an idea for a product or service and then run out and create it. Then when the product is created, they attempt to sell it. This process is completely backwards and is one of the reasons why many new businesses fail. You should try and sell the product or service first. If it sells, then work you tail off to build or create what you've sold. Don't spend months creating something that may or may not sell. Short cut the process by selling it first.
The same holds true for you in your real estate sales business. Don't decide to specialize in a certain market or segment of the market without studying the demand. One agent, in Ohio, told me they wanted to specialize in selling homes priced $400,000 to $800,000. Their reasoning was that they would make more commissions from a smaller number of home sales. This makes sense on the surface.
This agent would spend a lot of money trying to get clients in this higher price range. They would probably list a few homes and spend time advertising these homes. They would host open houses to appease the sellers. All of this effort for nothing, because the homes won't sell. This agent ultimately become very disgruntled throughout this entire process. To sell homes in this market, you should analyze the following:
1. For homes that are selling today, what styles are they?
1. Which homes are selling TODAY?
2. What price points are the majority of sales?
3. What specific areas are these homes being sold in?
5. Who is buying these homes?
6. Which agents are doing well in this market?
7. How are the successful agents getting clients?
7. What marketing strategies are agents using to get new clients today?
Reinvent your business around the homes that are selling today. Create new advertisements. Adjust your presentations. In other words, use recent home sale activity to show you were to focus your sales efforts. - 15478
To start, you must stop and try and find the money in your market. This means you need to study demand. Most small businesses don't study demand. They have an idea for a product or service and then run out and create it. Then when the product is created, they attempt to sell it. This process is completely backwards and is one of the reasons why many new businesses fail. You should try and sell the product or service first. If it sells, then work you tail off to build or create what you've sold. Don't spend months creating something that may or may not sell. Short cut the process by selling it first.
The same holds true for you in your real estate sales business. Don't decide to specialize in a certain market or segment of the market without studying the demand. One agent, in Ohio, told me they wanted to specialize in selling homes priced $400,000 to $800,000. Their reasoning was that they would make more commissions from a smaller number of home sales. This makes sense on the surface.
This agent would spend a lot of money trying to get clients in this higher price range. They would probably list a few homes and spend time advertising these homes. They would host open houses to appease the sellers. All of this effort for nothing, because the homes won't sell. This agent ultimately become very disgruntled throughout this entire process. To sell homes in this market, you should analyze the following:
1. For homes that are selling today, what styles are they?
1. Which homes are selling TODAY?
2. What price points are the majority of sales?
3. What specific areas are these homes being sold in?
5. Who is buying these homes?
6. Which agents are doing well in this market?
7. How are the successful agents getting clients?
7. What marketing strategies are agents using to get new clients today?
Reinvent your business around the homes that are selling today. Create new advertisements. Adjust your presentations. In other words, use recent home sale activity to show you were to focus your sales efforts. - 15478
About the Author:
Rob Minton, who reinvented his real estate sales business to sell multiple homes to a handful of clients has written a very practical book on how real estate agents can sell more homes For a limited time, you can download his entire book for free by visiting Renegade Millionaire Strategies for Real Estate Agents
