As we enter 2020’s final stretch, one thing about the impact of Covid is certain: real estate is essential. You are essential.
2020 has been chaos. You’ve navigated your careers, personal life at home, changes to your children’s school, and you’ve built new practices in the process.
The Inman Community has been leaning in to support one another through it all.
While every real estate salesperson, brand or organization does things differently, I’ve had discussions with many of you about the trends we are seeing across the Inman community that may make your business plan a little different this year.
It’s no coincidence that “Your 2021 Plan” is the theme of our October 2021 Connect Now event. You should join us! In the meantime, some thoughts to get us started:
7 tips for getting started with a 2021 business plan
Is your business living its brand values?
Brand building will be crucial throughout the rest of the year and into 2021. There has been a real awakening in identifying and living corporate brand values. Simply saying the “right thing” is not enough.
Consumers’ needs have gone through tremendous adversity this year. They are becoming increasingly more money conscious, more socially and politically aware, and more picky about their homes- and the service providers they choose.
The brands that have aligned their services with these changes are getting far more attention and solidifying relationships for years to come. If you haven’t looked over your Values and Mission Statement in a while, now is the time.
Is it time to throw away the SWOT Analysis and Smart Goals?
No. It’s time to double down. It’s essential to have a Plan A, but now you also need a Plan B (and even a Plan C). Review how you adapted to change this year, and build on that in a sustainable way.
Audit your real estate tech stack.
As consumers have sped up their timelines to move, technology has moved faster. Real estate technology has made as many changes in 6 months as they normally would have in 3 years. It’s important for you to be as up to date as possible.
Cost savings tip: Review your brokerage technology and your Association Member Benefits before adding on or moving to another provider.
Plan and live for sustainable growth.
Reprioritize customer retention and referral strategies amidst customer acquisition and lead generation budgets. Virtual client nurturing events are part of a set of new best practices.
Hire talent with long-term value.
Re-image what “work” means for your organization. Remote-based work, using smarter marketing automation, restructuring staff roles, and creating a hybrid office model are all things to consider. Leverage might look different, but make it work for you.
Mental health and wellness for yourself and your team is critical.
We are in uncharted territory when it comes to managing the level of change and stress we’ve seen this year. The health and well being of your business is vital to sustainability.
Your team’s culture is the foundation that nurtures the value every team member brings to the brand, and to their own productivity.
Make a new plan for marketing and social media strategy.
Your marketing content and channels you use are up for a big reevaluation. In real estate, your reputation is what others say about you.
We know 78% of all real estate transactions come through repeat and referral business. Whether it’s third party reviews or word of mouth, make sure your efforts allow your sphere of influence to grow. Time, delivery, and ROI is the balance for 2021.
Join us at Connect Now.
At Inman Connect NOW we’ll talk through how to plan for a year ahead that is likely to be anything but predictable, and top coaches will help you set goals that you can meet — and exceed. We’ll update you on market conditions and emerging best practices since our previous gathering. Plus, you’ll get the networking that will keep you connected and grow your circle.
I hope you’ll join me October 20th for Inman Connect Now.