Slow housing markets are a fact of life in the careers of loan and real estate agents. Knowing how to weather the storm is an essential part of the job.
For succeeding in a slow housing market, take the opportunity to sit back and evaluate your brand and strategy. These 5 tips will benefit you in the long run, keeping you ahead of the game.
Where can you improve? To succeed as an agent or realtor, you must recognize that you are on a team and can always be improving your brand. Take the time to evaluate your position in the marketplace, and your strengths and weaknesses.
For example, veteran-friendly agents recognize and understand the needs of veterans, as well as understanding how VA loans and requirements work. Are you and your team capable of handling veterans’ needs? If not, find ways you can accommodate them. If this means hiring loan officers with the necessary experience and certifications or getting certified yourself, do so.
Embracing technology can really give you a head start in a slow housing market, especially since people are always looking to sell or buy. Technology makes it easy to reach out to potential buyers and sellers, as well as advertising homes for sale. Social media is one way to get attention, thanks to easy sharing and ways to place paid ads.
You should also know how to utilize and take advantage of resources like Realtor, Zillow, and Redfin. If you do not have a website for your brand, it is time to create one. A personalized website is a good way to capture leads as well as provide dependable, educational information for prospective homeowners. If you are part of a larger company, follow all rules for an independent website.
When you become a real estate agent, you will be working with buyers, sellers, investors, appraisers, loan officers, mortgage brokers, inspectors, title companies, and others. Networking with others and building professional relationships is essential in succeeding in a slow housing market. These relationships are critical in getting references, as well as knowing who is selling and who is not.
The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.
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