How to Make the Best of a Slow Property Market and Get Started as an Real Estate Agent
The housing market isn’t doing great right now. Many people have been forced to forgo a home purchase in the past because of sluggish inventory, high prices, and declining interest rates. Homebuyers are hesitant to buy property as well, with many waiting to see if the market will improve before making offers on homes. It may not always be easy to know where your money is going, but as an agent, there are plenty of ways you can get started making the most of a slow market and build your business accordingly. Working with an agent may seem like a cut-throat business, but it’s actually one of the best things that can happen for any real estate professional. You’ll meet more clients directly than through networking or advertising, which makes it far easier to present yourself as a resource rather than an impersonal salesperson. And because you work directly with sellers in your area instead of being limited to listings through agents or another real estate company, you’ll have greater control over the selling process.
Set clear goals
The best real estate agents have a strong grasp of their customers’ needs and are able to meet those needs through sound marketing and good old-fashioned selling. If you want to know how many homes to list for and how much to price them at, an expert real estate agent can help you out. But if you’re looking for a home that’s ideal for your family and friends, a home you can sell quickly and for a profit, an investment property, or a rental property, an agent can’t help you out as much. If you’re just getting started in real estate, or you’re a seasoned professional who’s looking for ways to boost your business, you may want to look into set goals before moving forward. If you know you want to sell a certain number of homes, or you have a certain budget in mind, setting realistic, achievable goals will help you move forward and make better use of your time.
Use online marketing
Online marketing is the process of creating and/or purchasing ads and/or content to be displayed on various websites, blogs, or other online properties, and/or emails, that are intended to generate leads, sales, or income for the real estate agent. You can also choose to integrate your real estate business on social media platforms such as Facebook, Instagram, and Twitter. There are many online marketing platforms that provide everything you need to get started, such as Facebook, Instagram, and Google+. There are even online marketing services that help you build and manage your digital presence, like Digital Marketing and Social Media Marketing. These services are often very affordable and can help you get your business online in a very short time. If you’re willing to put in the work, you can even create your own digital presence, whether that’s a social media account or an email list of real estate investors, owners, and professionals you’re interested in following.
Be available by phone and email
It may seem like an odd thing to include on this list, but having a physical address is actually a big advantage when selling a home. No matter where you are, it’s much easier to set up a face-to-face meeting with a potential buyer if you have an address in place. If you don’t have an address, prospective buyers won’t be able to reach you, and you’ll have no way of contacting them. This can be a huge advantage if you’re looking to list a home and are less than ideal with your physical location. When you have an address, you can also choose to list your house as a foreclosures, put-ins, or representals depending on the condition of the home and the desirability of the neighborhood. This can give you a better idea of what type of home you can list and how well it would fit into your desired location.
Help sellers understand their options
When you’re selling a home, you have a variety of options for marketing the house and helping sellers understand their options. You can always purchase or build another home, but if you’re looking to sell, you may want to consider renting instead. This is especially important if you’re buying a fixer-upper and don’t have the money to fully restore the home to its previous glory. You can also look into rental property options, such as monthly apartment rentals. There are many websites that list available rentals, including Rentals.com, Apartments.com, and Zumper.com.
Offer free property reviews
Selling a home doesn’t require a ton of hard work, but there are a few things you should keep in mind to make the process easier on yourself and your clients. First, if you’re not happy with the home you’re selling, it’s easy to say so and get it back. You can also write a home review on websites such as Home+ reviewed.com. This will help other potential buyers find your home if they’re looking for a New York City or Long Island fixer-upper. When you provide a free home review, you’re not only letting other potential homebuyers know what you think about a property but also providing an invaluable service to current homeowners.
Keep your license active and up to date
If you want to make the most of a slow market and get started as an real estate agent, it’s essential to keep your real estate license active and up to date. You can typically find your real estate license online, but you should check in with your state real estate agency to be sure, as some states require a printed copy to be kept on file. You can also go to the website for the National Association of REALTORS to check on your status and make sure you’re not in violation of any regulations. If you see something wrong with your home or have any questions or concerns, you can report it to the regulatory commission and they will take care of it right away.
Conclusion
The housing market isn’t doing great right now, and if you’re a first-time homebuyer or a seasoned professional, you can see this as an opportunity to get in on the ground floor of the real estate market. In theory, the market will improve over time, and as an agent, it’s important to be ready to take advantage of this by building a strong list of clients and building your business on the back of their referrals. If you’re just getting started in real estate, or you’re a seasoned professional who’s looking for ways to boost your business, you may want to look into set goals before moving forward. If you know you want to sell a certain number of homes, or you have a certain budget in mind, setting realistic, achievable goals will help you move forward.
