BrokerageIndustry News

Hot tips for handling shifting markets

Part 1: Three-part biz plan eliminates competition

(This is Part 1 in a four-part series. See Part 2, Part 3 and Part 4.) The "B" word (bubble) continues to raise its ugly head. While some markets are cooling, others are booming. Do you have the skill set required to prosper in both up and down markets? Interest rates are increasing across the board. This translates into a decline in affordability as well as fewer buyers in the higher price ranges. If your market is slowing down, you are experiencing longer market times, fewer buyers, and unrealistic sellers. If your market is increasing, you may be experiencing more competition from discounters, For Sale by Owners (FSBOs), and stiffer listing competition from traditional brokerages. Surviving market shifts while maintaining or increasing your production takes planning, solid skills, and innovative marketing strategies. Shifting Market Survival Strategy No.1: The Three-Level Business Plan The National Association of Realtors is predicting that its membership will grow slightly ...