5 Hints to survive the real estate storm

By
Real Estate Broker/Owner with The Real Estate House

As real estate professionals, many of us are experiencing a down market and refuse to give up.  If you are one of the many professionals who did not go and get another job until the market turns, then you need to brace yourself during these times inorder to survive.  I have compiled a brief list from my training to share with our community.

If you find these helpful, let me know so I can share more in the future.

1.  Check your communication plan and see if you can get a more economical telephone plan.  Many of the carriers are offering unlimited plans that range from $45 - $99 per month.  So if you are paying more than this, check with your local carrier and do what you do best - Negotiate!

2.  Instead of driving your buyers around, limit the number of houses available to them by their top needs, then forward these to them via email for preview.  Have them pick the ones they are most interested in, then call the listing agents to make sure there are no other offers before venturing out.

3.  Undertand that real estate is like the weather, it's local.  So don't fall into the trap of talking about how bad the market is.  Truth is:  In some markets and especially for investors, the market is great and is the best time to buy.

4.  If you work with administrative assistants, now is a good time to evaluate what tasks they are working on for you.  You may need to cut their hours or reassign them to tasks that bring clients in the door instead of completing paperwork.

5.  Co-op with other agents and share the costs of marketing and advertising costs.  This is no time to stop your marketing activities.  In fact, you need them more than ever. 

 

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Rainer
87,209
"JT" Prevatte
Century 21 Family Realty, Relocation/Recruitment Director - Fayetteville, NC

Very good tips!  Keep them coming, a positive word is always a welcome idea.

Jun 29, 2008 10:48 AM #1
Rainmaker
434,606
Adam Brett
The Adam and Eric Group - Fullerton, CA
The Adam and Eric Group, Fullerton's Finest

Saving money should be a constant process - but you also have to look how to spend money to increase business.

Jun 29, 2008 10:54 AM #2
Rainmaker
1,591,583
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

nice tips...thanks!

Jun 29, 2008 11:41 AM #3
Anonymous
Tameka Bryant

Person hiding behind the Jeremy Frost, You must have the wrong person.

Aug 10, 2010 06:04 AM #4
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Rainer
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Dr. Tameka Bryant

Helping you close more deals!
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