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5 Real Estate Business Projects to Tackle During the Off-Season
Whether they are due to the winter season or local market conditions, slow spells are an inevitable part of real estate business. By staying proactive during these periods, agents are able to improve their chances of success when business ramps up. From marketing to client engagement, here are five projects you should prioritize when you find yourself with some free time to improve your real estate business.
1. Update your marketing materials.
Slow spells provide good opportunities to refresh your offline and online marketing strategies. Review your analytics and update your social profiles with the latest information. Tweak your personal and professional profiles, and add new photos where appropriate. Consider updating and printing new business cards and marketing materials. Send newsletters and/or emails to your contact list to touch base before your busy season. Focus on your blog and do whatever else you can think of to stay relevant in the minds of potential clients.
2. Keep networking.
It’s not always easy to nurture relationships when you’re busy showing and selling properties. Take advantage of slow periods by connecting with contacts. If possible, meet with top clients in person by grabbing coffee or lunch. This should include anyone you’ve worked with on multiple transactions, along with people who have referred you to friends or business associates. Slow periods are also great times to update your contact and customer databases with current contact information. You should also attempt to broaden your sphere by connecting with fellow real estate professionals.
3. Learn something new.
Downtime is a great time to strengthen your knowledge base. Consider taking a free real estate course or joining a webinar. Take the time to learn current relevant technologies and bone up on the latest strategies. You should also familiarize yourself with community hot sheets, local market trends and any new federal or state laws.
4. Get out and socialize.
Force yourself to commit to social gatherings, speaking engagements, local agent caravans and networking events. When you socialize in a professional setting, you’re able to connect with people from different industries. These meaningful interactions can ultimately build new client relationships down the road.
5. Get in the holiday spirit.
If you aren’t sending out holiday or birthday cards, you’re missing a big opportunity. They may seem trivial, but these acknowledgments can go a long way toward expanding your client base. By engaging your client base, you can stay relevant in their minds. This can lead to referrals when their friends, family or business associates need to buy or sell a home.
When agents remain active during slow spells, they are less likely to experience slow spells in the future. One key way to promote success is by focusing on your existing client base. According to the National Association of REALTORS, 72 percent of sellers decided to work with the very first agent they contacted to sell their homes. What’s more, 32 percent of sellers recommended their agent three or more times after selling their properties, and eighty-five percent said they would definitely recommend their agent for future services.
Again, it’s important for your real estate business to stay relevant in the minds of your clients. Whether you’re sending out emails, newsletters or holiday cards, make sure to nurture these relationships through active engagement and subtle reminders.
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