Drumming up Business in a Down Market

Provided By Realty Times

The real estate market has ups and downs. When it's good, buyers and sellers flock to the market. When it's down, the game changes. Newer agents who began their careers during the boom era are finding this out the hard way. Seasoned agents, on the other hand, knew that this time would come again. They know when the going gets tough, you must get creative.

Yet, much has changed over the past few decades. Technology has revolutionized the way people shop for and buy homes. How can you drum up business in a down market?

The first rule of a down market is to network. Social media sites have made certain aspects of this task more accessible. Facebook is a great way to keep in touch with local businesses, old clients, colleagues, and friends (who can turn into new clients). You're able to keep a pulse on what's happening in their lives. Who is in the market to move? Who needs more space in their home?

Twitter is another way to get your name out into the community. You could update your Twitter with weekly interest rate news, local market reports, as well as new homes you have listed for sale. Past and present clients would have direct access to your daily or weekly news feed!

Being a part of your local community is integral to networking. Volunteering and attending social functions, community gatherings, and local school events is a good way to get your face and name recognized. Real estates agents base their business on who they know.

You can also have a market presence online with an up-to-date website. Template sites or do-it-yourself sites (unless you're a professional) are not recommended. Buyers and sellers Google search for their local agents. Not having a website could mean you'll get passed over. Having an amateur website could mean the same thing. Invest a little time and money into maintaining a professional and useful website.

Useful websites include links to the most recent listings, recent advice articles or newsletters, webcasts, your background information, and local information for new residents. Give them access to local city phone numbers and locations for the DMV, hotels, and popular restaurants.

Spread the word about your website and business by carrying business cards with you at all times. These cards should be simple designs that provide your contact information, location, and website.

The final tip in today's article is to treat people kindly and with respect. This means treat the waitress at the restaurant, the worker in the gas station, the customer rep who provides you a service (cable, phone, catalog orders, ... everything) with respect, patience, and kindness.

Word gets around if you are difficult to deal with. Most people don't want to reward that sort of behavior with their business. So, be kind to everyone you meet and treat others with respect from the moment you meet them. You never know who will be your next client.