2024 is a wrap (almost). The ball is dropping tonight and we flip over the calendar to a new year.
"May you live in interesting times" has never been more accurate.
Lawsuits with major impact on how we do business.
Interest rates up.
Inventory still down.
Mix in a healthy dosw of election year uncertainty, and top it off with a feeling that EVERYTHING you buy is costing more and more and it's easy to see why the real estate market may have suffered in 2024 for many real estate agents.
So how do you increase your business in 2025?
Well we can't control resale inventory levels, interest rates, lawsuits or economic conditions, but there are things you CAN control that can help your business in 2025.
First, work your existing sphere. Nothing you can do online can top the recommendation of friend to friend, so make a point of staying in contact with past clients.
Second, increase your digital footprint WHERE YOUR DESIRED CLIENTS ARE. My personal target market isn't likely to be looking for an agent on Tik Tok. They want to know about Cincinnati patio homes and low maintenance living and that information isn't readily disbursed in 15 second vids and 47 character tweets. It's why blogging and IDX pages work for us, and it also factors in long tail SEO and not being the same place that Z, T and R dominate.
Third, be careful who you give your time and energy. Some clients aren't worth it, and that rule doesn't change just because business is scarce. EVERY time I've tried to overlook the red flags of a new client, I've needed another bottle of TUMS. Refer out if you have to, but don't let the soul snatchers grind you to dust.
Fourth, know where your business comes from, and keep your focus. For me, an Excel spreadsheet tracks every transaction for the last 10 years by source. Blogging, sphere, past client, etc.
Fifth, stop doing the stuff that doesn't work and do more of what does.
Sixth, increase your scope. E.g. if you don't normally work with new construction, maybe it's time to get cozy with your local builder reps. With short inventory, new construction becomes more advantageous for our buyers to consider.
Seventh, do the things that are hard IF THERE IS A CLEAR PATH TO BUSINESS GAIN. Fact is, hard things are things MOST of your competition won't want to do, and a lot of the "hard" tasks aren't really that hard. Getting some snapshots of a local community and creating IDX pages isn't all that difficult once you learn the ropes, yet how many of your competitors can be found online?
At this point in my career, I'm in a less is more mode. Fewer clients is okay if I gain a bit more peace. I can do all the things above to increase my POTENTIAL client pool, but I still get to choose who moves from POTENTIAL CLIENT to CLIENT.
Happy 2025!
Until next Tuesday, just Ask An Ambassador if you need help,
Bill & Liz aka BLiz
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