As a real estate professional, I've long stated that your job is to solve problems for a profit.
The agents figuring out ways to solve today's issues are killing it...
Those that do not put up that effort, on the other hand, are struggling.
Currently, the top 50 percent of agents make 91% of all commissions. The lower half of the population is squabbling over the remaining 9% of the population.
Which group do you belong to? And which one do you want to be a part of?
In my opinion, today's top-producing agents are those who have worked out how to overcome three significant roadblocks. Let's have a look at them...
First Real Estate Challenge: Lack Of Inventory
The absence of appropriate inventory is one of the most persistent issues that both brokers and consumers confront.
We're all aware of this.
Now the question is... What are your plans to deal with it?
Are you stepping up your marketing efforts?
Are you consistently making your calls?
Are you going through your database to see if there are any listing chances before those people go on?
Because I see far too many agents – and I'm not implying that this is you – whining about a lack of listings but failing to seize the chances that are there in front of their eyes.
Ask yourself if you're doing enough or if you should be doing more.
Second Real Estate Challenge: Accepting Offers
With so much competition among buyers for every respectable home on the market right now, there is no single "surefire" technique that will ensure your offer is accepted.
Your goal, though, should be to make sure that your bids are persuasive enough to get you on the seller's consideration list.
You must go the extra mile to set your offer apart, whether it's speaking with the listing agent to find out what would resonate with the seller, offering unique benefits that other buyers might not consider, or "laddering up" your buyer to ensure they're getting the most out of what they're willing to pay.
Here's some more information on the suggestions I made earlier.
What are you doing to assist your buyers in achieving their goals?
Third Real Estate Challenge: Inadequate Positioning
I'm not pointing fingers, but agents as a whole have been unable to shield themselves from external disruptors.
They've also opened the door for others to join in and take a cut of your earnings.
That's why there's such a rush of businesses attempting to break into the sector, produce leads, and then sell them back to you for a big referral fee.
You're making yourself exposed to these deep-pocketed disruptors if you're not positioned yourself for success.
The following are the questions that any agent should be asking right now:
- What are you doing to make yourself stand out?
- How are you preparing to deal with the arbitrage?
- How are you going to out-position everyone else?
In today's market, you must have strategies in place to provide specific answers to these queries. ON A HYPERLOCAL LEVEL, THAT'S HOW YOU WIN.