Industry News

Beating the recession

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Is your real estate business suffering from too many expenses and a lack of closed sales? If so, today's column gives you four ways to put your business back on track no matter what the market does. 1. Invest in training and education The number one mistake that both agents and companies make in a slowing market is to cut back on their training and education budgets. When money is tight, it's easy to justify diverting funds to other areas. The agents and companies who are currently investing in training are picking up market share now and will be well positioned to dominate players as the market improves. In terms of your personal training, focus on lead generation, lead conversion, negotiation, and mastering key market fundamentals such as absorption rates. 2. Become a foreclosure solution specialist A great way to enhance your business is to become a foreclosure workout specialist. To do this, use your marketing materials to invite people to visit your Web site whe...