Agents who want to succeed in 2023 need to focus on these five things.
I recently got back from an amazing conference, so today, I’m presenting some of the valuable information that I learned. I had the privilege of attending Inman Connect in New York, which hosts the top agents all over the country. One of the best things I heard about was how to get back in the game. The real estate industry has been crazy during the last couple of years, so it’s important to get back to the basics. However, what are the basics? What do agents need to focus on each day? What truly generates income? Here are the five baseline activities that a real estate agent needs to focus on:
1. Lead generation. What are you doing to make yourself stand out and get clients? There are a million things you could try, and the bottom line is that so many of them work; you just have to put in the effort. Experts are predicting that 2023 might be a bit of a challenge, so be ready to work hard.
2. Working with listings. How are you going to stand out from your competitors? There are going to be fewer listings in this market, so know how you can go above and beyond, especially when people are concerned about affording a home when interest rates are higher.
“Find out what works in today’s environment and do more of that.”
3. Working with buyers. Things have changed a lot for buyers in today’s market, so make sure you keep them informed. They should know that the market is not going to crash, but inventory is low. Interest rates are around 6%, and the truth is that 6% is historically low. It’s not likely that rates will go back down to 2%, so they shouldn’t wait for that. They will need your help to see the big picture, including the benefits of appreciation. Plus, there are ways to work on affording a home, like a 2-1 buydown. Help them know their options.
4. Negotiating. You need to know your scripts and be prepared with a dialogue. The buyer or seller you represent is counting on you, so be ready.
5. Training. What are you doing to invest in your business and growth? The agents that came to this conference with me were all spending their time and money to become better agents, which is awesome! 2023 is going to be all about growing your business and knowledge, so start now.
Those are the things you need to be focusing on as we enter 2023. Find out what works in today’s environment and do more of that. If you have any questions, don’t hesitate to call or email me. I would love to help you thrive in 2023!