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An ongoing series of informational entries
Top Ten New Year 2019 Resolutions for Realtors and Real Estate Professionals
Posted December 5, 2018
1.) Work smarter. The bottom clientele takes up to 80% of a professional's time. Focus on obtaining the top 20% of clients who will generate the best income vs. time ratio. Focus on what has worked on growing your business in the past and have a business goal for the New Year. Studies show that people who have a business goal for the year will generate more income than those without a goal, even if the goal is not achieved!
2.) Be more productive. Keep track of your progress throughout the year. Set a weekly goal and stick to it so you can see what works and what does not work.
3.) Post consistently on social media. Did you know that Instagram is now up to 800 million active users and growing. The use of social media is a free way to brand yourself and your company and to differentiate yourself from the competition. Businesses can tell stories on Instagram and the use of visual pictures is a great way to market your brand. Most companies advertise on at least one source of social media.
It's crucial to link your social media to your company website. There are free websites out there that will allow you to post on social media regularly and analytics websites to track your growth on social media. Most small companies have limited funds so they market themselves on social media so these free websites are a valuable time saving tool. Also, websites such as Canva allow you to create your own personalized social media posts without the use of a professional advertising team or photographer.
4.) More video content and blogging. Did you know that 35% of homebuyers will buy a property site unseen. 45% of millennial homebuyers will buy a property site unseen. The old method of cold calling buyers and sending out flyers is outdated. Most buyers are searching for new homes online. Therefore, it is important for realtors to stand out by their video content of their properties and the use of SEO marketing. Blogging is an important part of SEO marketing.
5.) Reach out more locally. Most local businesses will support each other so don't forget the value of reaching out to the local community to grow your business. There is a website called Nextdoor in which people and businesses can advertise in their local community. Some businesses may also be willing for you to leave your business card at their place of business. An example is there is a small doughnut shop near my office in Delray Beach and the owner will allow realtors to leave their cards at his place who buy his small, handmade doughnuts when they have real estate showings.
6.) Utilize the latest technology. The average lead is lost for a realtor after elapsing in 5 minutes. Therefore, it is crucial to utilize the latest in technology for realtors to generate leads, companies such as Opcity will screen leads for a fee as low as $1,999 per month and send the leads to realtors via their cell phones within five minutes of obtaining a potential buyer lead. Realtors should continue to communicate with their past clients as 87% of past clients do not use the same realtor due to lack of communication. At Turnkey Title & Abstract, Inc., I keep in touch with prior clients which allows the clients to remember their past realtor.
7.) Update headshot and website. No one wants to see a headshot from the 1980's. Update your headshot and website so that it's up to date. Marketing studies show that clients are visual and wish to see what the person they will hire looks like.
8.) Focus on customer experience. The real estate market is very competitive and what differentiates realtors, attorneys, lenders, mortgage brokers, and title companies is the customer service that we can offer. Potential clients want to know what you will do for them. With technology, clients expect a timely response, even on the weekends! Ask the client at the closing table to write you a review so they don't forget and to increase traffic to your website.
9.) Embrace Change. Right now it is a seller's market and Zillow forecasts that 2019 will also be a seller's market. Prices in South Florida are expected to rise again next year. Millennials do not want the cookie cutter homes of the past generation so real estate professionals have to keep in mind the age group of their clientele.
10.) Think outside the box. Stand outside from the crowd to grow your business.
An ongoing series of informational entries
The best time to sell real estate in Florida
Posted February 2, 2019
The most sales activity occurs from January till the end of June. Therefore, the first two quarters of the year is typically the busiest and the last quarter is typically the slowest. If the property is vacant, then with the carrying costs, the best time to sell is right away. Pursuant to some research, sellers are least likely to get their listing price the month of January and the best time is the summer.
A problem in the housing market in Florida and other States has been tight inventory along with rising interest rates. Therefore, it is still projected to be a sellers market this year.