If the year 2020 taught us anything, it’s that we certainly can’t predict the future. Major shifts in the real estate market are inevitable, but that doesn’t mean adapting to those changes should be difficult or scary. Here are specific strategies brokers can implement now to maintain a level of preparedness for the impending market shift:
Be Proactive, NOT Reactive
The good news is that markets shift all the time, and the ultimate key to navigating these changes is simply to be proactive. If you want to maintain your momentum, make it a priority to be present, communicate with your agents, and implement a follow-up strategy to your client base sooner rather than later. As you build a durable network of referrals, you’ll have contacts and clients that will withstand the market ups and downs alongside your agents.
Consolidate Your Software
Take a moment to review and adjust your tech stack accordingly. If you have trouble pinpointing what expenses to cut or reduce, think about how those investments serve you and how they can be consolidated. Where can you save money and simultaneously be more efficient? With an all-in-one system like Back At You, you can take guessing out of the equation and track each & every source of business, allocate marketing dollars to those areas, then identify which leads turn into transactions.
Provide Something That Will Make Your Brokerage Stand Out
Now is not the time to blend in. With more than 1 million real estate agents working in the United States, and more than 5 million real estate transactions occurring every year (source: nar.realtor.com), brokerages must develop a unique competitive edge to succeed in today’s marketplace. Not only does it entice recruiting top performers (more on that below), but showcasing unique technology can help win in listing presentations and showings with clients.
Now Is The Time To Focus On Recruiting
Recruiting opportunities frequently pop up as markets begin to shift. Are you prepared to impress top producers with what you bring to the table? One of the most important ways to win them over is with your unique tech stack. Too often, brokerages rely on the status quo franchise-provided software. Provide something unique, and you’ll be setting yourself up with an advantage to recruit top talent over your competitors.
Don’t settle for software that can’t support you through these market shifts. It might be time for an upgrade with Back At You’s all-in-one system! Our easy-to-use, robust tech solutions streamline your entire back-office, and helps you focus on what really matters: agent productivity, recruiting, retention, office efficiencies, and growth to your bottom line! Back At You’s three products: SocialBAY, ClientBAY and FinancialBAY, provide all-size brokerages and their agents with a seamless marketing, back-office, or all-in one technology solution. Learn more by emailing us at hey@backatyou.com!