Today is the last day in May of 2020. A lot has happened in our real estate world not to mention each state, our country, and the world. Much of these happenings statewide to worldwide will impact the real estate industry. NAR from my understanding suggests a 10-20% loss of current Realtors in 2021.
Fannie May that previously predicted a strong market for home sales in 2020 has revised those predictions to a weaker market with a 15% decline in home sales. However, in 2021 Fannie Mae predicts improvement in 2021 depending upon the “pandemics trajectory.”
There is much talk about “a new normal.” Funny thing most changes do impact what we consider normal. Technology is one great example. Human beings have learned how to transition with change through their ability to adapt.
My question is a simple one:
“Where are you with your sales goals for 2020?”
The end of each month is a time to reflect, to make any course corrections and most importantly to appreciate your results. My May 2020 results revealed lot of good activity with 29 sales leads. Unfortunately, in this market homes are selling rather quickly with multiple full price offers. There were also 10 personal tours of homes as well.
Of course, not all results are positive. I had one small vacant land cancellation. Another client is now on his third offer for this month and he is fully qualified for over $250,000. One potential listing client decided to interview other realtors which is great. His property would have been a challenged to sell quickly.
The best result I had in May was a home I listed on May 29, 2020. Currently, I have had 5 showings in 2 days. The reason I believe this is my best result because I sold this seller the vacant land on which he built his home. Customer loyalty is critical to any business and especially real estate.
As to Close of Escrow, two of the three closings closed on time. One was delayed until early June due to COVID and mobile notary. With COVID and the current market, June has yet to receive any closings. However the month hasn’t even started. Yes my sales goals and overall revenue goal are still on track and actually a little ahead.
Each month I undertake a review of my sales goals and other results. I would encourage everyone to review their results each month. Years ago, a colleague stated:
“People confusion motion with progress and activity with results.”
His words of wisdom have stayed with me and maybe they will stay with you.
Graphic Courtesy of Gratisography
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