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Ask An Ambassador: New Year, Time To Pivot?

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

Your year-end review is complete and you shed some unnecessary expenses.

However, is removing expenses enough?  Or is it time to consider a pivot from your typical blogging?

Fewer homes for sale (still), fewer buyers thanks to higher interest rates, so does your past methodology of gaining business a continued guarantee of success?

Only you have the knowledge to fully evaluate what has brought you business and how willing you are to continue doing those things AND if they're still likely to work as the calendar moves onward.

Niche blogging works as long as there are people looking for information about that niche AND with the financial wherewithal to make it happen.

With any year comes a risk that the demand for a developed niche may lessen.

Shrinking demographics, economic factors, financing availability, changes in home preferences, home prices rising or falling, all things that can impact real estate demands.

If you work a niche, do you need to pivot and change focus?  Maybe the same niche works, but a different presentation is needed? 

Or perhaps an increase in frequency of providing solid content increases the number of people finding you, and lead generation is a numbers game.  More poured into the funnel increases the opportunity to develop more clients.

Take the time to evaluate your business and you can make any needed changes before you see a decline in results from your blogging efforts.

Until next Tuesday, just Ask An Ambassador if you need help,

Bill & Liz aka BLiz

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Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

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Comments(17)

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Thanks Liz and Bill for reminding us that often a "pivot" is necessary in a changing environment...or in football terms...fake left but go right. Jeff

Jan 03, 2023 02:43 PM
Liz and Bill Spear

Sometimes what founded the success of a niche can be used by the competition, so knowing what's still viable is key to continuing success.

Jan 03, 2023 02:46 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Bill (and Liz too) - Happy New Year.  Whether it's a pivot, a shift or some kind of other movement, beginnings look to opportunities.   

Jan 03, 2023 03:19 PM
Liz and Bill Spear

Identify and pursue :)

Jan 03, 2023 07:57 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Hi Bill this is a really good point.....Pivot, shift or whatever works WORKS for agents! With a market shift there is a need to seriously look at what isn't working, what could you could improve on.....great points.  I think it's also a good idea to brainstorm with others that could shed some new light or ideas......1+1 = 3 

Jan 03, 2023 04:48 PM
Liz and Bill Spear

It's one of the things I love about this community, plenty of ideas to sort through and adapt to our own markets.

Jan 03, 2023 07:57 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Liz and Bill Spear There are still many buyers and niche marketing will always work in my humble opinion. There is just not a buying frenzy. Hard-core marketing getting your name out there whether it be blogging or postcards or both with consistency in the right areas should still work.  Happy New Year   always open to new ideas 

Jan 03, 2023 05:03 PM
Liz and Bill Spear

Some niches are more sustainable than others (e.g. short sales are cyclical), but if you have a sustainable one, slight adjustments may provide success for the long term.

Jan 03, 2023 07:58 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

New Year can be a new day in most cases and I don’t think there’s anything wrong with it and if you want to do something new or you’re tired of the same old same old or need a new result

Jan 03, 2023 06:30 PM
Liz and Bill Spear

Calendar changes are a bit arbitrary anyway, so what needs done, needs done, no matter the time of year.

Jan 03, 2023 07:58 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Only pivoting at the start of the year could be a mistake, real estate is a quickly changing business and might require pivots throughout the year, haha.

Jan 04, 2023 04:01 AM
Liz and Bill Spear

True, it could be needed any time of year, but start of year is a good reminder time to evaluate expenses and practices, then repeat as needed the remainder of the year.

Jan 04, 2023 05:20 AM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

interesting point to think about...things have been good, but the shifting market is surely making a difference in leads. Thanks for the nudge to look into alternatives.

Jan 04, 2023 06:07 AM
Liz and Bill Spear

We've definitely seen a slow down.  Builders are offering more incentives too, another sign they're losing demand.

Jan 04, 2023 06:46 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Not surprising but when I read this a light went off in my head - I need to double down on my niche(s) - after all it is pretty economical.

Jan 04, 2023 06:16 AM
Liz and Bill Spear

One of the things I love about niche blogging and IDX page creation, VERY low cost!

Jan 04, 2023 06:46 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The reflections on the previous year should be productive especially if the mindset it there to make the necessary adjustments

Jan 04, 2023 06:38 AM
Liz and Bill Spear

Ed, always good to know what works, and what has stopped working.

Jan 04, 2023 06:46 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Bill,
We should never put all our eggs in one basket (or niche). Multiple niches can help keep an agent's business more stable regardless of the changes that affect real estate.

In 2007 I expanded into Property Management. What a great move that was. Those management fees kept coming in whether I sold any houses or not. Most renters eventually buy, so that's another whole pool of buyers I had an "in" with.

Jan 04, 2023 06:58 AM
Liz and Bill Spear

We've focused on low maintenance living choices, but new construction and specific subdivision posts have been good for attracting clients too.  Not being 100% all in on one thing gives us some options.

Jan 04, 2023 08:46 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent post! Thanks to your post, you've given me a great idea for a new post in my niche.  Those looking for homes have ideas of what they are looking for, but sometimes added tidbits can prove helpful.  Have a wonderful 2023!

Jan 04, 2023 08:10 AM
Liz and Bill Spear

Glad to spark another post!

Jan 04, 2023 08:47 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Bill,

Happy New year and what a great post! You are definitely right we all need to evaluate our business, make some needed changes, shift or make some kind of movement that will allow us to attract the clients we are seeking.

Jan 04, 2023 12:29 PM
Liz and Bill Spear

Sometimes status quo can be maintained, but considering how often real estate markets shift, it's good to keep a steady eye on conditions.

Jan 05, 2023 06:36 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 602.710.8161 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Great idea and reminder to look into the focus we have and determine how to change it, 0r modify it. I have found that re-evaluating fundamentals (annually, quarterly) always produces good results. I liked also your reminder that IDX page-creation always helps as the market changes.

Jan 05, 2023 08:15 AM
Liz and Bill Spear

I've found IDX pages to be very effective for us.  People contact us already focused on one particular area.

Jan 05, 2023 06:36 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

It is always time to pivot:) The question is not about desire but about doing it: making a decision about the necessary steps and sticking to it consistently. 

Happy New Year all! 

Jan 06, 2023 01:02 AM
Liz and Bill Spear

True, knowing what to do and doing it are often disconnected.

Jan 06, 2023 09:55 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I used to specialize in helping buyers.  I had my best 6 months ever and thought, "I have figured out this business."  The next 6 months were my worse six months.  The market turned and became a very serious seller's market.  That is when I learned that I had to be flexible.  

Jan 06, 2023 01:43 PM
Liz and Bill Spear

Definitely nice to have a balanced client list depending on market conditions.

Jan 08, 2023 07:21 PM
Beth and Ryan Waller
Beth and Ryan Waller, Realtor - Guelph, ON
Beth and Ryan Waller are Guelph Realtors

Great article. Like any good marketing plan, you should frequently review, revise and pivot where necessary to keep relevant. I believe updating blogs are key, but also monitoring your competitors and comparing vs your other blogs is vital. Clicks, CTR, position tracking and other metrics will help!

Jan 08, 2023 05:57 AM
Liz and Bill Spear

Understanding the opportunities, how market shifts impact them, etc. increases the odds of surviving and thriving in this business.

Jan 08, 2023 07:22 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Taking on the market with a pivot and a positive attitude -- looking forward - not backward.  Full steam ahead!  Congrats on the Feature!

Jan 11, 2023 03:20 PM
Liz and Bill Spear

We can take our lessons from the past to improve our future.

Jan 12, 2023 06:25 AM