So, what does your real estate plan look like now? Given all the changes in the market today, there are things to think about and adjust to.
All the changes in the property market and the economy of recent times would indicate that things should change for us in what we do as agents. There are new people entering the property investment market for reasons that are unique.
There is also a lot of ‘pent-up’ demand for moving money into some stable investment base of security. A good property purchase is something worth considering if you are an investor today.
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What is Your Core Real Estate Business?
The matter to remember now is that the ‘core’ of the real estate business is still there, and everything revolves around people and property. Connect with the people, and you will find the property to list. Connecting every day with new people will help you build your real estate business with consistency.
Do not let distractions take you away from your real estate day and people. As an agent, you should have a working plan to refer to when and if you get off track (and you will get off track).
It is common for the pressures of the day to take over the focus for some agents, and when that happens, it can be very distracting. A brokerage mindset and a daily activity guide for agents are so necessary at an individual level for agents.
Establish your day plan and be proud of it. Ensure that you have all the significant issues covered and that you are well in control of your real estate business. That plan of your creation will help you progress.
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Priorities and Pressures in Real Estate Agency
In most circumstances, many salespeople only get a couple of high priority issues covered each day because all types of random pressures arise as the day takes shape. Most agents do the most convenient things that are not challenging or confronting; the ‘comfort zone’ is a big problem for many salespeople in commercial real estate.
Challenging yourself in real estate is the way to move ahead; that is challenging yourself to do the difficult and frustrating things those other agents will not do. What can you do every day that will help you find new business and new clients?
So, there are some things to think about here and adjust for in real estate brokerage. Optimize your actions, your day, and your real estate business. Determine where you want your real estate business to take you and design your daily actions around that.
Key Questions for Your Real Estate Plan
To establish a real estate plan that you can be proud of, you have some initial questions to consider. They would be something like this:
- Where is your property market and what is happening? Decide where that zone or precinct is, as that will be the basis of your ongoing prospecting activity.
- What is your priority client profile? This question helps you probe real estate market segments and groups of investors or business owners.
- How are you connecting with your client and prospect base? Choose a couple of contact processes that you can implement every day and consistently so.
- How can you improve all the items 1-3 above? Improvement is the basis of growth in commercial real estate. Every agent can improve, even after many years in the industry.
These questions will put some clarity on where you are and what you can do now. Accepting and understanding that the property market is different and will forever change, you can go with the change pressures and shift your real estate focus and business decisions.
The people of the property market do not disappear; it is just a matter of how you can connect with them and how many people you are connecting with each day. Master the art of real estate client conversation, and the new business will follow you.