Tips to survive in a down market

By
Real Estate Agent with Aksland Real Estate

I have only been in real estate to know what a down market is. The broker I started with lost my real estate application to send to the DRE for three months, so I ended up missing the end of the Great Central Valley Seller's Market. I can't wait for the market to turn, but am focusing on the here and now.  Many Realtors in my office can't figure out the success I have been having the last few months.  Well, it has been nothing short of lots of hard work.  I have found some tips that have doubled my production, without the stress that many of you may have encountered.

1.  Be active on Active Rain.  Although I only limit the amount of time on it to 30 minutes per day due to time constraints, the bots and spiders really like this site for Google and Yahoo.

2.  Listings are the Key. No matter what system you use, they all bring up this point. I have done Buffini and been introduced to numerous others and they all focus on acquiring listings. Your listings are a way to get your name out there, free of charge. Make sure you have a rider that clearly states your name. They can be acquired cheaply.

3.  Stage well.  My listings stand out from others in the area. Although I have been fortunate not to have had totally thrashed listings, staging it can allow you to demand a higher price than others in the neighborhood.  In addition to staging, use an excellent wide-angled lens. I use a wide-angled attachment on my Konica Minolta Digital Camera for my CMAs, but for listings I use a Kodak v570, which makes a difference between night and day.

4.  Utilize your Sphere of Influence.  Your sphere can generate leads and listings.

5.  Work smarter, not Harder.  I probably work less hours than most Realtors, yet I am second in my office in production.  The key is I focus on one or two areas, and target clients that way instead of wearing myself thin and focusing on all aspects. Focus on the buying, or the selling side of Real Estate.

By following these hints, it can help you survive in the down market that most of us are in right now.

Comments (16)

Dianne Deming
RE/MAX Realty Group - Rehoboth Beach, DE

Hi, Matthew.  I earned my license in February, 2005, so I know exactly what you're talking about.  Your tips are all great ideas.  May I also add working open houses as a way to gain clients.  When I didn't have my own listings to sit, I volunteered to host open houses for some of our agents who had more than one.  I never sold any of the houses I sat, but I acquired clients to whom I sold other homes.  And psychologically, it helps you to feel you are doing something positive to build your business--probably because you are!

Aug 02, 2008 03:06 PM
Matthew Zgonc
Aksland Real Estate - Modesto, CA
Realtor, CFS, CVS

I have done the open house route and got listings from doing them. Excellent suggestion.  Thanks Diane.

Aug 02, 2008 03:13 PM
Anonymous
Real Estate in Bahamas

It is good to get listings...hey  Thanks , It's really good idea!
Waterfront Bahamas Property

Aug 02, 2008 04:38 PM
#3
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

Matthew - Congratulations on your successes!  #5 is true regardless of profession.  Individuals who spend a few minutes thinking about the best way to accomplish a task usually end up doing better than those who leap into the fray and try to figure it out as they go.

Aug 04, 2008 01:13 AM
Joshua & Kathy Schmidt
ERA Henley Real Estate - Cabot, AR

Matthew,

     These are some great tips.  And I just wanted to thank you for stopping by and commenting on my blog!

Aug 04, 2008 01:17 AM
* Rate A Home
Rate A Home - Saugatuck, MI

Matthew, bravo on the work smarter no harder, so many miss this key to stream lining the process.

Aug 06, 2008 08:13 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Matthew, congrats!  I am basically new also and I am doing just what you are saying and I am doing great - even in these times - listings will be the key to the business!!!

Aug 06, 2008 08:25 AM
Janice Dalston Kreymborg
Janice Dalston Kreymborg, Realtor (c) - Southampton, NY
Representing Buyers and Sellers in The Hamptons

Thanks much.  A little "back to basics" advice is always good. 

Aug 06, 2008 02:59 PM
Danny Thornton
R & D Art - Knoxville, TN
WordPress Guru

Matthew, some great tips here. It is some important that we have a plan in place.

Aug 07, 2008 04:03 AM
Matthew Zgonc
Aksland Real Estate - Modesto, CA
Realtor, CFS, CVS

Without the basics to build upon, we can't achieve anything.  It is important to have plans and goals in place.

Aug 07, 2008 09:05 AM
Griselda Tealdo-Perez, REALTOR®, e-Pro, GRI, TRC
Coldwell Banker Real Estate - Miami Lakes, FL

Matthew, good post. All of these are great ideas to keep us going in a down market.

Aug 14, 2008 03:25 PM
Pam Jank
Coldwell Banker Schneidmiller Realty - Coeur d'Alene, ID
Your Coeur d'Alene & North Idaho Real Estate Pro

Matthew, These are ideas and suggestions.  All are tried and True!  Hard/Smart work has always kept me successfull in any market.

Also, thanks for commenting on my post!

Sep 02, 2008 05:21 PM
Robert Machado
HomePointe Property Management, CRMC - Sacramento, CA
CPM MPM - Property Manager and Property Management

Nice simple advice.  All sales agents need some inventory to make money and listings is the way to go.

Sep 02, 2008 05:51 PM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Matthew - you have an advantage over the "other agents" in that you cut your real estate teeth in the current market and do not look back or fall back on how it used to be. By surviving and doing well in this market the next upsurge will carry you to heights undreamed of.

Sep 09, 2008 03:53 AM
Tere Rottink
CoastalVa Realty Inc - Virginia Beach, VA

Mathew:

This was a great post.  I am surprised that you stopped blogging.  I would like to hear how well you are doing,  and hear new ideas you may have.   Tere

Apr 26, 2009 05:37 AM
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Aug 26, 2009 09:38 AM
#16