Best Practices: In it for the Long Haul? Do What it takes!

Depending on when you started in Real Estate, you might have seen this kind of down-turn before, or maybe this is a new reality for you.  During the bursting of our real estate bubble, many folks will, and have, left the business, especially those who joined thinking it was 'easy money.' Those who find a way to keep going will be the ones left standing at the end of the storm.

Of course, that is easy to say, but how do you keep going when there seems to be so little to do?  The basic answer: Do whatever comes your way!

I will confess that I used to be a bit of snob about my business. I would work with new buyers, but I preferred to keep my sales in the higher end of the market. That strategy worked well when people weren't shy about moving around as the notion struck them, but when practicality set in, and people who didn't NEED to sell decided not to, my market specialty dropped off.  In other words, my specialty was in the "I don't need to move" market. It was fun while it lasted.

Now days, my clients need to move. They need to downsize, upsize or right-size. They need a rental or to short-sale their home. I have the occasional client who just wants something new, but they are few and far between (and I enjoy them when I can).  My clients now days are more focused, and more in need of my advice (people who are just moving because they feel  like it often are fairly educated about real estate--they have done it many times before). They don't want to make the mistakes that so many folks made in the last 10 years. They don't want to over-pay (obviously) or get stuck with a home that might later be unsaleable.

When I get a call saying that someone needs help with a rental, I don't immediately say 'yes' and grab my keys. I talk with them about their goals and what they see in their real estate future. If they are a former client or a friend, I always help them. But these days, if they sound like someone with whom I could create long-term real estate relationship, I will also help them. 'Back in the day,' I would have referred them out--as well as that possible long-term relationship. In today's market, I am much more focused on creating the long-term client--even if it means spending a weekend showing rental properties.

Don't get me wrong, I DON'T take on anyone who calls. I screen my clients. I still work my base and have not changed my business model. What I have done is adapt my business model so that it is more flexible and long-term oriented. I have focused on expanding my referral business, and continued to educate myself so that I can respond to the current needs of the market. In other words, I have worked to become the Realtor® that people need right now.

The way I see it, long-term clients mean long-term business. Unless you got into this for quick money, long-term business is what it is all about!

 

 

 

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

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