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.