When business is slow, sales are down, the majority of business owners, realtors and others, stop marketing. WRONG.
According to most savy marketing consultants, when business is the slowest, you should advertise the most.
Know this and take charge of your own marketing. Advertising sales people will try to sell you marketing plans no matter what's going on -- it's their job.
When the market is flooded with buyers, do enough marketing to get the business you need or want, but save the big dollars for when they really need to be encouraged to enter the market.
While the real estate market is slow it's probably wise to keep these things in mind:
1. Evaluate your marketing. Hopefully you've kept track of which methods have produced the most business in the past, allowing you to fine tune your advertising expenses.
2. Continue to keep in touch with your core sphere of influence. These are the people who are the core of your business--the people you know personally, have represented as a buyer or seller, or have some close connection with. It's important to keep them informed about the market and that you are confident in the future of real estate and most importantly, that you are still in business.
3. Stay positive. I was having lunch with some friends last week when another real estate broker and owner of a national franchise office, came up to our table. One of my friends knew she was in real estate and inquired about business. She screamed "IT SUCKS"! The entire dining room turned around. I wanted to crawl under the table. You don't have to lie about the market, but you can be positively truthful. Negativivity can become a self fulfilling prophecy.
As with everthing else, the current real estate market is what you make of it! Make the most of each day!