Challenging markets are not a new experience for the real estate industry.
The market we are currently experiencing is considerably slower than that which has existed for the last five years.
Those that have been in the industry long enough know that this is a correction in the market and are familiar with the tougher conditions.
Real Estate can be a tough gig. In difficult times it’s more important than ever to invest in yourself and explore how you can separate yourself from the competition.
A significant portion of the industry right now are making themselves smaller to get the listing. Reducing commission (which I NEVER want you to do! Back your value!) paying for marketing or taking smaller ads.
One of the key strategies I work on with my 1:1 client's in this market is to help them be comfortable in going BIGGER with advertising.
The current market is highly competitive for a vendor and one of the best investments they can make is ensuring their property stands out from the pack in their advertising. In this market, you need to do more to get your properties seen.
Going bigger with advertising will allow you to throw the widest marketing net, attracting as many potential buyers as possible. The interest you attract, the greater the competition on the property and the higher the price that you will achieve for your vendors.
If you have vendors that don’t want to pay for advertising or want to list the property too high for market expectations, let them go.
They are not the right fit for your business. We work hard for our clients and even more so to continue to achieve results in a challenging market.
If you take on these types of vendors, chances are you could be working for free with no hope of getting paid and with no commitments from the owners.
The more that your vendors are willing to put into the advertising of their home, gives them the opportunity for more buyers to see their property, see the vendors commitment to sell and perhaps even create some competition and achieve a result. Or even better get a premium one!