On this edition of “Keeping It Real,” a recurring podcast series on Inman, Peter Lorimer shares his top tips for preparing for a turnaround.
We are in a state of market disruption. But that does not mean we should wallow in it, nor does it mean we should rest on our laurels.
So, what does it mean? It means we should turn the corner. We should pivot. And we should ultimately prepare for the turnaround — because there will be one. History has confirmed that time and time again.
While this situation is entirely unprecedented, market downturns and disruptions are not. In fact, history has shown us that innovation has emerged from many of these downturns. Just think about the companies born during the Great Recession of 2008.
How do we prepare? One thing I hear all the dang time is a phrase made up of these two words: if only. “If only I had time.” Well, now you do. I know there are many of you chasing and homeschooling kids and trying to do your work. But we have less commute time, fewer in-person meetings and fewer (or no) social obligations.
At the end of all this, what do you want to have accomplished? What will you have wished you had done? And when there is a turnaround, where do you want to be positioned?
Maybe it’s finally time to firm up that marketing strategy. Time to reach out. Time to get that CRM set up and organized. To do that, we need to put in some work.
Client engagement is paramount right now, and as many agents shut down, you should triple down. I have evidence that marching forward and working with the amazing tools we have in front of us works.
Give this podcast a listen. It’s loaded with tactical steps and tips from my mates Andrew Flachner and Bart Marchioni over at Real Scout, which is an amazing tool that I and my team at PLG Estates use.
We must keep clients engaged throughout this difficult time. Because there will be a rebound — and it’ll be sooner than we think.
Peter Lorimer is the CEO of Beverly Hills, California-based PLG Estates.