Consumers want an agent that can sell their home around all the recent changes in market conditions, and they’re willing to pay higher fees for that result. My Coaching Tip this week is about reversing market trends by boldly adapting to what’s happening today.
A lot of agents panic when they see things shifting in their market. You need to know what to do when change happens to make sure your business continues to grow. I can tell you that a great business is built on the simple foundation of serving your customer by solving their problem.
So how can you put yourself in the front to make things happen? First, understand that people don’t turn up to open homes and make online inquiries about properties if they’re happy where they’re living. Next, don’t worry that there are fewer people coming through open homes right now and it’s impacting your lead generation. This is where a great agent will reverse the market trends.
First, start really working your buyer and seller hit lists. These are the customers who have already proven that they have a higher level of urgency than most. They have clarity about what their dissatisfaction is, about their vision and where they want to go, and they’re prepared to take those first steps.
Timelines are critically important in a shifting market. You have to stay ahead of upcoming changes, so you need to build a sense of urgency and even a little fear to create reasons around why your clients need to do certain things by a certain time. For reversing market trends, focus on your average sale price, the volume of transactions, and average fee. Adjust those numbers as needed and you’ll continue to grow in any market.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.