I implore you to make plans now so you are ready to deal with the 3 major challenges you will face in 2019:
Shrinking Home Sales
Home sales were down by 2.2% in 2018 over the previous year. That’s not too bad.
What’s more concerning is that in December closings plummeted by 9.2%, pending contracts were down by 5.8%, and new listings fell by 5.6%.
This means the pie is shrinking. There are not enough homes to sell, and it does not look like this situation will improve in 2019.
The Columbus Association of Realtors has now 8,404 Realtors, an all-time high. There’s more competition for fewer transactions.
Top producing agents will have an edge on part timers and new licensees. It will become harder for inexperienced agents to find new business. Both buyers and sellers will demand experience and impeccable customer service.
All full-time agents I know claim they are not “discounting” their commissions.
However, closing statements reveal a different truth. Even large, well-known teams are listing for less than 3% – they just don’t advertise it on the radio.
Technology creates some efficiencies in the office. But if you help desperate buyers find a home you will spend a lot of time showing houses, writing offers, and negotiating contracts.
I suggest you attack these challenges head-on. Here’s how you will win in 2019:
(1) You must commit to become a full-time Realtor. It’s getting increasingly harder for part timers to deliver the experience and quality of service clients expect and deserve.
(2) You need the backing of an experienced broker or team leader. If you are just a number in a mega office and can’t get instant support when need it, you should switch to another office.
(3) Provide a memorable, exceptional experience to get more referrals from your clients. You must be on top of your game and constantly learn and improve.
(4) Market like crazy! Personal branding on social media is not enough to generate business. You have to be pro-active whether you invest in advertising or knock on doors.
(5) The best way to thrive in a challenging market is to find a niche and be the best (and maybe the only) agent to serve this niche.
My Offer for You
If you don’t have your business plan ready for 2019, I invite you to schedule a FREE Breakthrough Strategy Session.
During this 30-minute session I will help you:
- Uncover the critical challenges that hold you back.
- Set business and income goals for 2019.
- Show you how to overcome the challenges above.
- Develop action steps to create a consistent income.
- Inspire you to take action and stay on track.