3 tips for thriving in a changing market

As the market shifts, your strategy needs to adjust

Over the last few years, agents have enjoyed a period of soaring home prices, lower interest rates, and a historic housing shortage, creating the ideal market for home sellers, and business for the listing agents at your firm.

However, data suggests the market is shifting, and home sales are slowing. So, what does this mean for our industry as we kick off 2019?

As predicted by Brad Inman himself, in 2019 the most productive agents and astute brokerages will be okay. But how do you ensure you are among those firms that are successful, and that your brokerage is home to the most productive agents?

Give your agents a competitive edge

Arm your team with the tools and technologies that will put them a step ahead of their competition. In a world where inventory is limited, competition will be fierce, and your agents need to be best equipped to win those hard-to-close listing presentations. Offering an automated advertising service like the Adwerx Enterprise Automated Listings Program will prove to your future seller clients that your firm is at the cutting edge, with marketing that starts the moment a property hits the market. Your agents can use this as a secret weapon during their listings presentations to prove to sellers that their home will be promoted on some of the widest viewed websites and social platforms that likely buyers are visiting daily.

Keep in mind that advertising campaigns may need to run longer as homes remain on the market, so consider building an extended promotional period into your marketing strategy for 2019.

Free up your agents’ time to focus on their clients

A slow market means that agents need to focus even more on strengthening relationships with their clients. Help them out by automating pieces of their workflow, effectively allowing them to increase their productivity. Start with a trigger, perhaps the signing of a listing, and use that trigger to kick off a series of activities, whatever your brokerage determines are the best practices for your firm. For example, in addition to automating their online marketing, ensure the ‘For Sale’ signposts in the yard within 24 hours, or send all sellers a “what to expect” email that outlines how to prepare their house for showings, and when the open houses are scheduled. Basically, create a system that automates processes on behalf of your agents, making them look like rockstars, without them having to lift a finger to do it.

Recruit the best agents to join your firm

As the market slows, ensure that you’re recruiting the best agents, who will stay focused and remain productive for your firm. Those agents want to work with a brokerage that makes their lives easier, allowing them to focus on doing what they do best. Use your recruiting presentations as a chance to explain the reasons why your firm will rise above the market challenges. Also consider an always-on advertising campaign targeting your area’s top producers. An online recruiting campaign through Adwerx, for example, allows you to advertise to your database on top websites, in mobile apps, and on Facebook, keeping you top-of-mind when an agent is ready to move. REALTORS® receive an additional 15% impressions on these campaigns.

We’re starting 2019 off during a time of change and uncertainty, but one thing is certain: your firm should focus on providing your clients with the very best service, and the most knowledgeable agents. There are tools and services you can employ to assist with this, allowing your agents to further enhance their client relationships, and also form new connections.

One of the fastest growing companies in real estate technology, Adwerx automates digital advertising for brokerages to delight the seller and increase agent satisfaction. Adwerx also helps individual agents promote themselves and their listings online, with custom ads optimized for Facebook, mobile and the web. Learn how easy it is to automate your advertising today. In addition, all NAR Members receive 15% bonus impressions on any new or renewed ad campaigns. This exclusive benefit is available through the National Association of REALTORS® REALTOR Benefits® Program.