How to Handle Slow Periods in Real Estate
Everyone's business has slow times or dips in sales. What you do during that time can separate you from other agents. Here are a few things you should do to keep yourself on track:
1. Stay Knowledgeable
Invest time in understanding your industry. Just because you don't have showings, still look at the MLS. Be familiar with what new homes are coming on the market. Keep yourself current on the market. See a house for sale that is near a friend or old client, reach out and email them that listing. Spark up conversations about real estate.
2. Follow up with Clients
Following up with past and new clients is very underestimated. Reaching out about new listings is important because it makes them feel like a priority. Keeping up with past clients has the potential to bring you new business. Making a phone call and emailing them a listing can go a long way. You can even go as far as handwriting Christmas cards or thank you cards to all your past clients and new clients.
3. Rethink your Business Goals and Processes
Reset your goals when business is slow. Reflect on your past numbers and set new target goals for the coming weeks, months and years. No company does everything perfectly. During slow periods its important to take the time for reflection, redesign, refinement.
4. Building Brand Awareness
During slow periods it is important to focus on building a personal brand and public recognition. Ask past clients for review, write a blog, create a monthly newsletter, update your profiles on social media consistently.
5. Market your Business
You may be saying ‘of course market your business that's obvious,’ but not everybody has the dedication like they should. Marketing should be a priority all year round! Sometimes marketing doesn't get planned properly because of busy times. During slow periods, it's a great opportunity to get that marketing strategy together. From creating email blasts, updating social media, running ads, and increasing SEO. Never waste a slow day, fill it up! Do actions that get reactions. Always continue working at a high efficiency.
“A dream doesn’t become reality through magic or resting, it takes sweat, determination, consistency, and hard work.”