It Doesn't Have To Be A Cold Winter.

How To Stay Busy In Real Estate Business When It's Slow.

Just as we described in our "How to Just Say No" post, real estate sales, showings and success is often a numbers game.

So, how do you keep your foot on the gas pedal with everything, and everyone (thank you, Fed) seemingly works against you? Our team at My State MLS have pulled together to find the answers to the ultimate question, "how do I survive amid a long winter?" Slow periods of business are a fact of life in any commission-based. While every real estate agent, broker, or agencies (whether commercial, residential, private, or public) has their secrets to success, we provide a few you may want ad may not have thought of just yet.

Recent Comments You May Have Heard

Unless you've been living under a rock in real estate, you have heard more than one of the following:

This real estate market just won't last.
Financing is drying up. and available buyers aren't far behind.
Winter is coming, and it may very well last until 2025.
There are just too many agents in the market now.

Adjust & Extend Your Hours Of Availability 

Whether you want to hear this or not, less business often requires more hours. As real estate prospects begin to dwindle (with rate hikes and valuations slow to decrease, it is near-impossible for the next quarter of business to come close to the previous quarter), you will need to make yourself and your team more available than before. In a regular market, buyers, sellers, and inspectors can and will go on vacation or, at the very least, travel to see family and friends. Pair that with weather conditions that halt construction, setting an annual budget, or the looming fiscal tax season, and you have a perfect storm of less inbound business and buyers/sellers.

Making yourself more available doesn't mean 12-hour days every day. It means being aware of your peak prospecting and inbound call hours and adjusting your schedule to maximize results. Maybe it's time to prospect or network a bit more. See what fits you and your schedule best and make the appropriate adjustment for sustained success.

Pro Tip: Don't assume your prospects or clients know when or where you will spend your holiday(s). Be certain you communicate your holiday hours (or lack thereof) and that you will be available and actively working with your listings and buyers. Setting a schedule is always better than not.

It's About Time To Step Up Your Marketing Game 

We learned this early and did it often. Content is king. Digital content creation has, and will continue to become, one of the most powerful methods in a real estate agent or broker's arsenal. Show your current clients appreciation while providing outreach potential with everything from infographics, YouTube, and TikTok shorts, to blog and social media posts. In 2023, generating leads is less about face-to-face networking and more about social networking digitally, whether through social or newsworthy channels. This indirect/direct marketing is just the thing that could double your salary three to six months from now. 

Create something like a DIY for holiday home decorating or holiday travel hacks for the winter weather traveler. Here are a few other content ideas to market: 

  1. Holiday Recipes (family or just fun)
  2. Holiday Gifts (for him, her, or them)
  3. Destinations For Your Holiday Getaway
  4. Holiday Tips, Tricks, and Hacks

There are so many directions you could go (as well as ideal demographics you could target), and with the holiday season in full swing creating content for social or blog posts, emails, etc., is a "nothing to lose, everything to gain" opportunity. Don't let it go to waste.

real estate agent overlooking her listings

Network With Your Network

Referrals have always been the best opportunity for an agent or a broker to grow their business. Sure up your business and personal relationships by pairing them with a handwritten holiday letter or email to family, friends, relatives, and previous clients. Try not to push too hard but let everyone know you're here and that you are excited to thank them and wish them a wonderful holiday and new year. The winter holiday season is a great way to rekindle relationships with past clientele, wishing them a wonderful holiday while casually reminding them you are still here for them when necessary. 

Learn and Implement Facebook, Instagram & Social Media Advertising 

In addition to networking your pre-existing network, it is always advantageous to build a larger network. Previous generations of real estate professionals would rely on events, local hangouts, and friends to build a network. Many would even appear (or be heard) on radio, television, and print media. While each of those environments and methods still exists and are often fruitful, digital networking and advertising has been on the rise since the early 00s and should not be ignored. The difference: social networking and advertising on platforms like Facebook, Instagram, TikTok, and others are often cheaper, reach more people, and, more often than not, generate just as many (if not more) inbound calls and inquires for your services, agent, and broker alike.

Take targeted Facebook or Instagram ads, for instance; Facebook allows you to create ads specific t to and directly targeting your demographic of choice, your target area, and the time in which they may see them. The best approach for a new agent with little social media marketing experience is to research the competitors and companies running seemingly successful ads and produce a similar but unique version for your target market. There are additional tools and tactics, but the best rule of thumb is to monitor your competitor's ads' traffic, comments, likes, etc., and create something similar. You can always blaze a new trail with more experience in that arena.

Reach Out To Investors In Your State 

Oddly enough, most real estate investors are working through the holidays. More often than not, hidden or missed deals come on the market just before the calendar year begins. Before you begin calling every real estate investor, you can find, put a "pitch deck" together and build at least a basic strategy so that you can set yourself apart from the pack. Holiday hours aside, many real estate investors will frequent estate auctions and other relative events, so mark your calendars to reflect attending these events on your off months. If you are clear and considerate when you bump into an investor, you'll have a tiny window to woo them, so get to the point, as all investors appreciate someone who understands their time's value.

Call To Check In On Live Buyers 

Keeping your leads (whether buyer or seller) is the lifeblood of most real estate professionals. Something as simple as wishing them a Merry Christmas, Happy Hanukah, or a Happy Holiday will likely make an impactful impression that should last the coming weeks. It may even help them remember you when a relative mentions looking for a commercial or residential property; you never know. Clients are often impressed if an agent or broker remembers anything about their deal or prospective properties, so be brief but be certain. Long-term relationships built on empathy last longer than most.

Know The Difference Between Professional & Personal 

Whether you're stressed, busy, slow, tired, cranky, or just over all of it or not, be professional and keep that personal stuff to an absolute minimum. Too often can, an agent or broker talks themselves out of a deal because they didn't think first and speak after. While easier said than done, scheduling time accordingly and having a plan (not unlike the plan for the investors) is a great idea. Make a schedule you can keep; keep the conversation to a minimum f 5 minutes maximum of 25, and you'll be just fine. Many real estate agents take the holidays off or, at minimum, take half days. Your best bet if you want to get ahead or even catch up to someone more seasoned in your territory, it's best to take these steps as a great guide to keep your foot on the gas as the winter comes.

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