Over the last few months, many real estate agents have been forced to reinvent their businesses. Many real estate agents understand the need to change, but don't know where to start or how to do it. In this article, I'll show you how to quickly reinvent your business around the best home sale opportunities in your marketplace.
To make money in today's market, you must study demand. You must invest some time researching your market. Many small businesses make a critical mistake when looking to make a change. They spend time and money pursuing a new opportunity without knowing if the new opportunity will generate income. This is actually backwards. Find out what is selling today in your market. Then build your business around this opportunity.
Right now there are a few agents in your market who are experiencing an increase in sales. This means some homes are selling and some agents are doing very well. You must find these pockets of activity in your market.
Many agents are trying to sell homes in the wrong market segments. For example, one agent I know is still trying to sell high end homes when the demand for these homes has evaporated.
1. For homes that are selling today, what styles are they?
2. In what price range are most homes sales occurring?
2. What price points are the majority of sales?
3. What specific areas are these homes being sold in?
4. What is the average square footage of the majority of homes sold?
5. Which type of buyer is buying today?
7. How are the successful agents getting clients?
7. What are these agents doing to get clients?
Use your MLS to study recent sales. Don't waste time looking at active listings. Focus on home sales that have closed recently. Study these homes to find demand in your market. Use the MLS information to direct where you focus your marketing and sales efforts. Prepare new advertisements targeting the prospects who are actually buying and selling homes today. Use the recent home sale activity from your MLS to pinpoint where the demand is for your business.
To make money in today's market, you must study demand. You must invest some time researching your market. Many small businesses make a critical mistake when looking to make a change. They spend time and money pursuing a new opportunity without knowing if the new opportunity will generate income. This is actually backwards. Find out what is selling today in your market. Then build your business around this opportunity.
Right now there are a few agents in your market who are experiencing an increase in sales. This means some homes are selling and some agents are doing very well. You must find these pockets of activity in your market.
Many agents are trying to sell homes in the wrong market segments. For example, one agent I know is still trying to sell high end homes when the demand for these homes has evaporated.
1. For homes that are selling today, what styles are they?
2. In what price range are most homes sales occurring?
2. What price points are the majority of sales?
3. What specific areas are these homes being sold in?
4. What is the average square footage of the majority of homes sold?
5. Which type of buyer is buying today?
7. How are the successful agents getting clients?
7. What are these agents doing to get clients?
Use your MLS to study recent sales. Don't waste time looking at active listings. Focus on home sales that have closed recently. Study these homes to find demand in your market. Use the MLS information to direct where you focus your marketing and sales efforts. Prepare new advertisements targeting the prospects who are actually buying and selling homes today. Use the recent home sale activity from your MLS to pinpoint where the demand is for your business.
About the Author:
Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients, has written a very practical book on how real estate agents can sell more homes For a limited time, you can download his entire book for free by visiting Renegade Millionaire Strategies for Real Estate Agents
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