Like the change of seasons from autumn to winter and the change of time from light to dark at 5:00 PM, change may be coming to the practice of real estate. Every real estate agent should be making plans to accommodate this change.
Change may be coming in the form of buyers’ market to sellers’ market. Change may be coming in interest rates. Change may be coming in the number of new home start-ups. We need to look down the road to see what changes may be coming that will affect our industry.
Historically, elections have affected house prices with slightly lower increases in value (Greenfield Advisors). This political year has been especially volatile because of the great contention that has surfaced between political parties. Many real estate advisors opine that there will be no immediate change and very little short-term change in our economy. The consensus seems to be that it’s not about the real estate market; it’s about jobs, and if jobs are available our economy will grow, as will our real estate market.
I am no politician, and discussions about it and/or religion are limited by me even though I have strong beliefs about both topics. Politics and religion have always made strange bedfellows and find no place in the business of teaching people to become real estate agents. I do focus, however, on our surroundings, and this 2016 political climate has made some changes in attitudes more than anything. We are on the cusp of change and change has been affecting us steadily for several years.
Change may be coming in how we conduct our business. We no longer think about “family” as being Mom, Dad and two kids. We no longer see a 3/2 as necessarily being the “normal” family home, and we no longer rely on meeting deadlines for classified ads in the weekend newspaper. Change has overtaken us, and now we must be far-sighted enough to look down the road of our businesses and plan for the changes that may be coming.
One change could be in your business plan. Even though it’s not quite the end of the year, look at your business plan that was put into place the beginning of 2016. There is a strong possibility that it needs revamping. As the year progresses, our business plan may need to progress as well. This is the perfect time of the year to change it up by putting new practices into play, by establishing new goals and by altering objectives for 2017.
It will be difficult for agents to succeed in 2017 if they do not have a plan. Growth must come from planning, as success must come from instituting your plan. TEAM Hughes already has its plan for 2017, and we know how we need to implement it. Change may be coming to TEAM Hughes, and we hope you will be a part of it. Let us know how we can help you succeed.