5 Things Agents Should be Doing in 2020

5 things Agents should be doing right now

 The market is HOT right now, but it may not stay that way. Here are 5 things every agent should be doing right now.

 Lead Generate MORE

Deals have probably been coming to you easier than normal. You might be thinking that you do not need to generate any leads because the deals will keep coming, right? You need to start thinking about what the next 3-9 months will look like and how you will get deals in those months. The answer is to lead generate more. Whatever you are doing right now that is getting results, double it! Make sure you are reaching out to your sphere of influence (people you already know) and also be doing activities to meet more people (people you do not know) to add to your database. This can be through social media ads, door knocking, open houses or a number of other activities.

Pay Attention to Your Deals

Right now when things are busy, we tend to take our eye off the ball and we start having deals fall apart. We think “That’s ok, the market is hot. I will sell it to someone else”. The reality is that one day the market may not be hot and those deals won’t come back together so easily. Stay on top of your deals and make sure they are moving along as they should and make sure they close and fund! If you have an assistant, make sure they are monitoring the deals very closely. If you are busy and do not have an assistant, you may want to hire one on a contract basis until you get caught up.

Save money

When the market is hot and we are making more money than ever, we have a tendency to increase our lifestyle. I know I have in previous markets that were hot. Resist the temptation to do that now. Save your money now and see how the economy looks in 3-6 months and then you can decide if you want to change your lifestyle. In addition to not upgrading our lifestyle, it is important to trim our costs in our business and only spend money on things that directly benefit our growth and/or make us money.

Find Investors

A solid real estate investor is always buying or selling real estate…and they are renting it out also. With a good base of investors you can make money several ways, which is a good thing. I remember when the housing market crashed back in 2007/2008, it was working with investors that helped keep my business going. Some would buy and hold, some would flip. I was usually getting 2 transactions from each investor per property. It was either a buyer agent commission and a leasing commission, or it was a buyer agent commission and a listing commission. Either way I had multiple checks coming in on every property. And when the market got better, my investors started selling properties, which just gave me more listings.

Be in Community

It is very important to know what is going on. Not just in your area, but around the country. What happens in one part of the country usually ends up happening in another part of the country down the road. Yes, markets are local, yet we usually see the market acting the same in boom times and bust times across the country. We have a very interconnected economy and a national media that usually paints the same picture around the country. Another great reason to be in community is for referrals. If your state is booming, people usually want to move there. And that creates a great opportunity for referrals. Network with other agents for referrals in your area.

I have started a community on Facebook that is a great place to learn, share and connect with other Real Estate Agents. Come join us now and be a part of our community by clicking HERE

I look forward to seeing you there and helping with any questions you have.