I'll make this short and sweet.
It's hard to believe that we're approaching the halfway point in the year! I have spoken to so many agents and loan officers concerned about their YTD production and the fear they have around finishing 2023. Does this resonate with you?
Please don't allow yourself to lose hope - it's time to double down and commit to making big gains in the months ahead!
Football games are never won in the first two quarters. At halftime, a break is taken, a breath is taken, and then it's time to reassess. What plays failed to work? How did the competition show and up and defend themselves? What strategies must be implemented in order to come back strong and win? I'm suggesting that you do the same, starting NOW.
This market has presented some enormous challenges and the majority of them are out of your control. Here's what you can control: your mindset, your activities, your flexibility, and your "plays". Stop expecting your SOP (standard operating procedures) to provide the same results as years past. Stop believing the crazy notion that you can MAKE people buy or sell (but you can promote the benefits and how to help them get what they want.) Stop praying for miracles and a Hail Mary. Instead, study your market, assess your competition, and acknowledge the behavior being demonstrated by buyers and sellers. Seek alternatives to structuring deals, increase your visibility, and try the new and untested. Be bold in your approach and confident in your delivery. Enhance your offerings, increase your skills and knowledge, and spread the word. You may not be able to change the market but you can certainly change YOU.
It's time to get back to the field - so suit up, show up, and win!
Did you know that Baby Boomers - those born between 1946 and 1964 - were the largest group of sellers in the last twelve months? It’s true! In fact, a whopping 52% of homes sold were owned by those between the ages of 59 and 77!
Targeting this group is smart for a variety of reasons. They are less likely to be affected by market conditions, and their “why” is significant to them - and often non-negotiable. They are motivated by achieving a sense of security, better mobility, and being closer to friends and family members. While some may stay local, others will move to states that offer a more comfortable cost of living and moderate climate and will seek communities that provide resort style amenities and better healthcare.
These sellers are typically buying as well, which provides the opportunity for additional transactions and/or referrals.
Before you say yes to this pillar, ask yourself if you are wired and willing to be patient, compassionate, and highly hands on. You will need to commit to the Platinum Rule - treating them the way THEY want to be treated, without resentment or hostility - especially when it comes to communication (stop texting!), contracts, and property preparation. You will be required to do more and be more - but you are also likely to EARN more. If you don’t have a heart for working with Seniors (and potentially their family members and attorneys) this may not be the route for you.
If you don’t want to see this ENORMOUS opportunity pass you by, here are the top 10 considerations and things to do so you may master this niche!
I sold a lot of real estate when I got started in the business and the truth is I did it without ever making cold calls, knocking on doors, or sitting floor time for my broker. In fact, I was largely ignored and ran on instinct and intuition, choosing to do what felt good and comfortable to me. However, my feet did hit the floor each morning with intention and here's what I learned: you'll never be happy - even if you make a lot of money - doing the stuff that you hate. You simply need to engage in a number of activities to discover where your time and efforts are best spent. Once you do, be all in!
I have carried this belief into my role as a coach and consultant. You possess your own magic, secret sauce, and value proposition, and I believe it's my job to help you discover where your strengths lie. Mediocrity and the same old, same old doesn't create significance and doesn't set you apart. Be you, Boo! Our industry and your market needs what you've been divinely designed to provide!
For the remainder of the year I intend to weave some wealth-related content into this blog, because here's what I'm seeing: