Brian Buffini’s Bold Predictions: 2022 Mid-year Update
The real estate market is set to experience a lot of turmoil in the next couple of years and only the best and most professional agents will last the distance. Use these Fab Four principles to help your business to thrive, even in the most challenging circumstances:
Get more referrals:
Referrals fuel your business, and you can get more from your existing database with just a little focused effort. First, write to past clients. Provide expert data on the marketplace and remind them that you’re ready to help if they’re considering buying or selling. Next, Pop-by with small gifts of appreciation to let customers know you’re thinking of them. Finally, consider throwing a client party to get all your best people together. When it comes to quality leads, nothing beats face-to-face communication. If you reach out and connect, the referrals will start to flow!
Get more sales:
Because of the fast-paced market, many buyers lost out on their dream home and are feeling discouraged. It’s the perfect time for you to remind these folks that, with less competition currently in the marketplace, they now have an increased chance of securing the home they really want. Encourage them not to give up and tell them you’re willing to fight for them. Remind them too that, although rates are high, they actually feel worse than they are and, because prices have flattened out and the long-term perspective is good, the outlook is very positive.
Get more net income:
If you want your business to thrive in recessionary times, you need to have reserves in place. Start by putting one month’s worth of reserves aside and then build on that so you can invest in your business. The best way to beat an inflationary market is to grow your business at a higher percentage rate. For example, if inflation is 8%, aim to grow by 10%. It’s also vital to assess your investment portfolio and make sure all your eggs aren’t in one basket.
Get more time off:
Real estate professionals have been running at a breakneck speed for the last few years and it’s been very difficult to have any time off. If you still feel like you can’t take a long vacation right now, consider a minibreak or a staycation. Treating yourself to a little well-earned luxury and refresh means you’ll return better than ever.
The real estate market has been so hot recently that many agents have been able to make good sales, even with poor fundamentals and bad service. With a recession on the way, however, the market is going to go through a huge change and only the best will survive. At Buffini & Company, our training and coaching programs are tailormade for this next season when buyers and sellers will need more leadership and guidance than ever before. It’s time to be a pro! To learn more, listen to the latest episode of “It’s a Good Life”.