In most of the RE markets around the country, we are experiencing a severe slowdown and have for some time now (that's a real newsflash to you, I am sure) and this is a time to think about survival. Real estate is a cyclical business and the good times will be back; however, during the down times the industry usually shrinks drastically. Many agents leave the business when they are unable to discover ways to survive. Others just migrate slowly back towards full-time employment (the safe zone). And then there are those of us who are the ants (in The Ant and The Grasshopper story or Aesop's Fables fame), who break the code of the slow market, survive and even thrive in the down time. What is the secret to their success?
According to Gary Keller of Keller-Williams - Lead Generation is the key. This really makes sense and is true for any business... No leads, no business - no business, no revenue - no revenue and the business starves out. In a recent session where I heard Gary speak he pointed out that lead generation is an art that we must master along with lead conversion if we are to survive in the real estate business. Having been in the RE business for 6 years now and many other businesses before that, I agree completely with this assertion. These times call for a return to THIS basic. I read a post this morning from Jim Crawford in Atlanta that said that he felt to survive, the solution was not a "Back to Basics" approach. I would agree with that in all but the area of Lead Generation. Let's face it, we NEED more leads in a time of slowness in the market. You need more to filter through to find the few gems that will and can close in a reasonable time and fashion. The second reason why you should concentrate here is that when the market shift comes (and we all know it must), the shift will propel you to heights as never before due to the sheer volume of leads that will now become gems!
So keep up the lead generation in your businesses! Commit yourself to 2-3 hours of it every day and don't stop. You can and will survive by making this a cornerstone of your businesses!
Thanks for READING!
Steve
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See Gary speak about lead generation here:
The problem with most agents is an on again-off again approach to lead generation... Ever wonder why when you graph your annual income, the graph looks like the rockies? That's why! LOL
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