As a real estate agent, the nature of the job is feast or famine. While some months are notorious for buying and selling homes (such as in summer), the rest of the year isn’t as active. So, what should a real estate agent do during the slump of the seasons? In addition to tailoring your marketing efforts toward the largest home buying audience in the country to get more leads, we’re going to give you some insights into pacing your business year-round.
Create a marketing strategy.
According to Nekst, it’s so important that you stay top of mind with your sphere of influence since referral and repeat business is the most profitable way to grow your business. Building an annual marketing plan can be really simple. Answer the following questions below to get started and be realistic with what you can accomplish:
- How many times should you be reaching out to your clients each year?
- Which platforms do you plan on using to reach out to them?
- How often should you plan on sending out certain types of communication?
- Create a plan to reach out to past clients as they’re the ones who are going to help you generate more business.
Update processes in your business.
It’s wise to make it a point each year to evaluate your processes and see how you’re doing. The more experience you have, the more knowledge you acquire about how to become a better agent and streamline processes. Whether it’s a more effective marketing strategy, improving lead generation, or ways you can better service your clients, there is always something that can be improved.
The real estate industry is always evolving, which means you need to stay on top of current trends to be relevant and compliant with laws. Take classes or attend a conference to better hone your skills.
Write down goals you want to accomplish. It doesn’t have to just be one set number for commission. In fact, here are some other goal ideas from the article:
- Gross Commission
- Transaction sides
- Net Income
- Database size
- Number of Listing Appointments
- Number of Exclusive Buyer Agency Agreements
- Size of Social Media Followers
- Vacations and personal time
- Referral business
Improve your finances.
As an agent, you have the power to control your own business. However, aside from making more money, you can review your finances to better position yourself to budget for slow seasons, evaluate your spending, understand where to invest time and money, and determine whether you need to restructure your business model.
About Walker & Associates Insurance
At Walker & Associates Insurance, we have been a leader in helping to protect businesses and families since 1960. Our coverages are written to cover your business inside out. For more information, we invite you contact us today at (800) 213-7126.