I don't know about your office but so many agents I speak with are down. Sales are down, except for REO and shortsales. Interest rates are great except it is harder to get a loan. You can add the rest. Most of the agents I see are just wandering around, without a clear focus of what to do next. It is like a boat without a sail, being blown by the wind and waves.
Don't you think it is time for us to adjust? When the market changes, we have to change. Yes, the market has changed, so what have we done to change our behavior. If sales are slow, we have to work harder and smarter. If we got by in the last few years with little or no marketing, then we need to start. If we spent one hour per day marketing in the past, we need to pick it up to 2 or 3 hours per day.
Downturns are not new. Maybe we are shocked with the quickness of this one or its magnitide but what is the real question? Am I going to stay in real estate. If the answer is yes, then what am I going to do TODAY to turn around my business. Here are a couple of suggestions:
- Don't hang out with negative people. They would complain if they were hung with a new rope (texas saying). They only see the negative and will drag you down
- We have been through down turns before and they were always followed by a wild upswing in sales
- Look at last 2 years and find out where your business came from......Open House, referrals, advertising, farming, etc, etc. What % was it.
- Next, look at your marketing efforts. How much time am I spending and how much $$ am I spending on marketing in each area. Your effort and $$ spent should be close to the same percentages are the results you get ......unless you are starting a new idea ....geo farming, etc.
- Then, stop doing the things that aren't working and pick up the pace on things that have worked for you in the past.
- Think like a new agent. If you were going to start your business from scratch, would you still focus on the same things you are doing now
- Bottom line, there are only three options:
- sit in your cubicle and whine
- Go to work
- Get out of real estate. If you start now, it will pay off in january/Feb.
Let me finish with two of my favorite sayings, which both appy here:
- If you are in a hole, stop digging'
- "How's that workin' for ya?" Dr. Phil