Find out what you can do during a sales slowdown to set your real estate business up for incredible growth in the new year.
Winter is here, and people around the nation eagerly gather with friends and family to enjoy the holidays. For many, it’s the best time of the year.
For real estate agents, on the other hand, sales seem to slow as the temperature drops, putting a damper on their holiday cheer.
But slowing sales isn’t necessarily something to worry about. Fewer calls from potential clients can actually be a blessing in disguise.
With less time spent worrying about getting clients to closing, you can really start to focus on the big-picture items in your business. If you play your cards right and really double-down during the slow season, you can set yourself up to make 2019 your best year yet.
Read on, and discover what you can do during a sales slowdown to set your real estate business up for incredible growth in the new year.
Start setting meaningful goals
Unless you know what you’re working toward, it’s difficult to stay motivated.
So, before anything else, it’s a good idea to flesh out at least a few career-related goals. These could be anything really — as long as they’re specific, meaningful and realistic.
Not sure where to start?
Here’s an easy one: Make $50,000 more next year.
For real estate agents, making more money is an excellent goal as the money you make ties in with so many aspects of your career, including your ability close more deals and maximize profitability.
Besides, keeping a healthy figure in mind could help you identify areas of potential growth that you haven’t yet considered.
Streamline your follow-up system
The majority of real estate agents all struggle with one vital task: follow-up.
If you’re not following up with all of your clients and leads systematically, it’s costing you business – guaranteed.
So, if you don’t already have a foolproof follow-up system in place, putting one together while business is slow should be a top priority. Things to consider when revamping your current system include upgrading your CRM and hiring outside help to take on some of your business’s administrative tasks.
Revamp your marketing efforts
Are your current advertisements bringing in little to no new business? Are you sick of putting time and money toward marketing campaigns that leave you with nothing to show for your efforts?
Almost every agent has been there.
Sometimes, the best thing to do when ad campaigns fall flat is to start over. If you aren’t as busy servicing clients’ deals during the winter months, why not make this the time to plan new creatives and strategies for next year’s marketing?
Grow your real estate skillset
Real estate is one industry that never stays the same. If you’re not constantly keeping up with its changes, you’re going to get left behind.
Focusing on education during the slow season is a great way to pick up new skills that will serve you well for years to come.
If you’re looking to transition from buyers to sellers, for instance, you could learn more about what it takes to make a killer listing presentation. If you just want to bring in more business, reading up on Facebook advertising is a great place to start.
Oh, have you been thinking about becoming a broker?
If so, do yourself a favor and tackle the bulk of those requirements during the slow season. Not only will it be easier to manage, you’ll actually be able to retain what you learn.
What other activities should agents conquer during a seasonal slowdown? Share your thoughts in the comments section below.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.