“An economic slowdown is underway and the greatest recession risk to the real estate industry could result in 2.4 million less existing home sales in the next 12-24 months – which is what happened in the last recession in 2008.”
Demand for existing-home sales plunge as mortgage interest rates continue to rise – senior economists caution a “meaningful recovery is still a long way off.”
Real estate agents…this may be the most important (and maybe painful) business story you have ever read. It is based on three simple facts:
Add these three simple facts together and you’ve got a near-perfect real estate storm in the works.
Let’s face it, the real estate business is tough (even in good markets!), super competitive and undergoing massive disruption.
In fact – hundreds of billions of dollars have been invested in the last decade to transform real estate, but in this case, “transformation” means the “PropTech Disruptors” want their share of the over $80 trillion dollars of commissions paid out every year.
Besides the prevailing market conditions, agents face competition from all sides – online search portals capturing all the leads and selling them back to you, Zillow becoming both a brokerage and mortgage company – taking an even bigger share of your commissions with referral fees, direct to consumer iBuyer platforms, discount brokerages, FSBO’s, and the list goes on and on!
And to matters worse – home sales have an extraordinarily long sales cycle, as homeowners typically stay in their homes for 8 years on average, and that number is creeping up every year.
It’s pretty bleak out there, to say the least!
Despite all of this, and saddest of all, the biggest reason most real estate agents fail, don’t grow, and drift aimlessly in the “sea of lost agents” is that they don’t have a business plan and strategy for growth.
That’s why only 2 out of every 10 agents make a “real” living selling real estate.
But there is some good news out there…
…for the agents who shift their priorities and change their strategy…
…giving them the opportunity to change their results.
When asked about the “most important trait” they look for in an agent, prospective home sellers chose “professional reputation” more than any other trait.
So – if you want to sell more homes, the goal is simple:
When it comes time for residents to buy or sell real estate in your target community, you want to be positioned as the only logical choice.
You accomplish this with a deliberate and strategic focus on your…
…market, media, and message.
And best of all, when your marketing is focused on building your “professional reputation” in your local market you’ll soon have clients coming to you instead of you chasing them…
…because your “professional reputation” precedes you in your market.
It’s only when the market knows you by name, market position, and status that agents have a competitive advantage in their market.
Simple, yes. Easy, no.
Because if you want to “increase,” “grow,” or “accelerate,” anything, (listings, leads, sales, transactions, etc.) – you need a force multiplier.
A force multiplier is “a factor that dramatically increases the effectiveness of the force.”
It’s the secret science that we embedded in DIGS magazine when we launch over 12 years ago – leveraging a “stacked media” approach combined with “frequency of message to market” that’s allowed us to create an 8-figure media and marketing business in real estate.
And why thousands of agents have partnered with DIGS to secure their “20%” market position so they enjoy doing “80%” of the business…
…and get their “message to market” formula right so they can influence the market and magnetize their target audience…
…and use market downturns to their advantage to gain market share.
It’s decision time.
But before you do anything, consider this:
“There are three kinds of people in this world:
people who make it happen, people who watch what happens,
and people who wonder what happened.” Tommy Lasorda
The choice is yours!
If you want to take decisive action and “make it happen” – pay close attention to what we recommend that you do next:
Sign-up for our “How to 2x Your Real Estate Business in 2023” workshop today!