Thursday, June 22, 2006

Strategies for a Changing Market, Part V

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the fourth and final success tip:

Build a pipeline of prospects

Of all of the strategies you can choose to implement, this is the most important. If you build a pipeline (database) of prospects, you will flourish in any market.

We are in one of the essential industries: food, medicine and shelter. There will always be people who need to buy and/or sell. Your job is to cultivate a large database of prospects, so that when they are ready to make a move, you are the agent of choice.

That allows you to have a steady stream of business no matter what happens in the market. In a changing market many agents just give up. It reminds me of what happens over the holidays. Many agents don’t stay in the game. They feel that business is slow because everyone is out shopping or preparing for the holidays. The top agents know otherwise. They make more money during the holidays than the average agent makes the entire year.

While "the shift" has not occurred in all markets, it is important to remember that the market does fluctuate. “Your Mission, should you choose to accept it,” is to be aware of the changing market conditions and adjust your strategies so you can flourish in any market.

Good luck, and please share with me your success stories!