Whether real estate is a second career or you’ve been at it for a while, when big changes come, like from a pandemic, you start to wonder if you need to reinvent your business.
To stay relevant and to keep up with changing times and changing tech, it’s important to take a fresh look and see if your business can work better for you. In real estate, you’re also wondering how to keep your community in the spotlight to drive housing market demand.
5 Business-Building Strategies on How to Reinvent Your Business
2020 has been a challenge for everyone, so as we look forward to the new year ahead, try some of these strategies.
- Become an Even Better Communicator: Real estate is based on conversations. If communication is not your strongest trait, you can still connect in other ways. Using social media to make and build connections within your community is a great first step. Link to your blog or your community news site to give clients the answers they are looking for. If you are open and quick to respond, potential clients will grow to trust you. And if you continue to share relevant content on your platforms, you will start to be seen as an industry leader.
- Make Contacts Every Day: While it is easiest to have conversations as you go about your daily life in your community, COVID has made that more difficult. But when you post interesting and relatable content, you will be able to form virtual connections that could easily turn into clients. In our virtual world, we are all learning how easy it is to make connections that are long-lasting – your clients can learn this from you!
- Be Confident When You Try New Things: It is easy to be confident in something you are comfortable with. But if real estate is a new career, or you are trying to reinvent your real estate business, it may be difficult for you to feel confident right away. The old adage “fake it till you make it” is still relevant! And remember, if you’re the real estate agent who dares to try new marketing techniques or technology, give yourself points for bravery, and trust: you will cumulatively build up your knowledge and expertise. Being the first realtor in your community to try new things means you get to the top faster.
- Stick to Your Schedule: What you say and do matters. If you say you are going to call someone, do it. If you plan to meet someone, do it. Clients will not stick with you for long if they discover you are not accountable for your actions. Very successful agents are those who have predictable and consistent routines. Whether you are new to the business or not, implement some strategies now to build a schedule for yourself. These days it’s easy to put reminders on your phone or to stay organized with a free CRM. But don’t forget about mindset routines, too. If you’re going to buy new technology, consider a platform that comes with coaching to help you get into a rhythm and hit your stride. For example, a platform like Parkbench also coaches you on how to build a routine of connecting with your community in a selfless way so that you can get 6-12 more real estate transactions per year.
- Don’t Be Afraid to Collaborate: In a business where the majority of your income comes in the form of a commission, it can be difficult to work as a team. But in order to succeed, it is important to surround yourself with a group of agents who are willing to be real and share what’s working and what’s not working for their business. If you are new to the business or trying to reinvent your business, this is especially important.
Bonus Tip: Embrace a Community-Minded Approach
A real estate agent who cares deeply about their community fosters love for the community by making connections. By going into the community and listening, you can expand your sphere of influence. Using your existing platforms to support other businesses will enable you to reinvent your business.
Parkbench is an example of a platform you could use to foster community connections. Parkbench provides exclusive support to one agent per area. By interviewing local business leaders and posting those interviews to your Parkbench platform, you can expand your sphere of influence. And in an industry that can tend to feel lonely such as real estate agents often do, Parkbench offers support and guidance along the way – they even do most of the content creating for you.
Arnold Hickey had spent 19 years in the real estate business when he realized he needed to reinvent his business. After connecting with Parkbench and securing his exclusive spot, he saw the number of people he connected with on a daily basis grow.
So whether you are new to the business, or need to reinvent yours to keep up with the changing times, consider building your business using a community-minded approach.