Realtors: Stats You Need to Know!
Watch my quick video recap!
The real estate market has gone through major changes over the past couple of years. In 2021, we saw around 6.2 million real estate transactions nationally. But now in 2023, estimates are projecting only 4.2 million transactions.
Fewer transactions means less potential for commissions. On top of that, 33,000 new realtors entered the industry in 2021, increasing competition.
“You’ve got to dig deep.”
If you're doing business today the same way you did during the hot seller's market of 2021, then you're not doing enough. You need to dig deep to stand out.
I know it's tough out there. But there will always be real estate transactions, and you want to be the agent representing those transactions.
So how do you position yourself for success, even during cooler markets?
Here are a few of my top tips:
Make extra phone calls to past clients and sphere of influence. Check in and let them know you're here to help if they have any real estate needs or know someone who does.
Spend more time door knocking and networking in your farm areas. Now is the time to generate new leads and listings.
Follow up rigorously with all leads. Don't let any potential deals slip through the cracks.
Leverage social media and digital marketing to expand your reach.
Consider expanding your service area if needed.
The market will turn around, but you need to put in the work now to stay top of mind. Dig deep and go the extra mile today, and you'll reap the rewards when activity picks back up.
