Any real estate agent will tell you that the business is prone to cyclical amounts of activity.
There are times when the phones are ringing off the hook and you have more clients than you can handle, and corresponding times when business is slow and nothing is on the books for a closing.
Many agents use the slow times for additional marketing efforts, and use the lulls opportunistically to generate more business.
However, this behavior only contributes to the fluctuations of highs and lows. Because if you wait until there is NO business before you try to get NEW business, the peaks and valleys of the business cycle will become more extreme.
The best way to moderate the swings is to market and lead generate consistently and constantly throughout the year. It is most important to maintain these activities bury the busiest periods as well, because the pipeline of business must remain full and flowing or there will be dry spells down the road.
It’s hard to set aside marketing time when things are going crazy. But it is essential for maintaining a steady stream of potential customers.
And for smoothing out the highs and lows!
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required. Visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park. North Georgia Photos.
Good Morning Richard,
Thanks for the post. Have a great day.
Well said Richard...to keep the pipeline running we need to be consistent....consistent....consistent...
I guess the secret is to not wait until your tank is empty before heading to the gas station!
Richard....I preach that same sermon every day.....and I take a page out of my own book when it comes to marketing....it's done consistently whether the market is good, bad or ugly....
Richard - Well put, I've actually seen a few agents on here who get so busy they disappear, then they'll come back when things have slowed down. It's all about finding balance.
Richard,
Great Post. You are definitely right, consistency is key to minimize the ups and downs in real estate.
Thanks for sharing,
Matt Naumann
Richard, The theory you present make perfect sense, the hard part is to put this plan of action in to place and stick with it.
That is so true, Richard. On the other hand though I am now seeing a lot of companies no longer doing any kind of advertising other than online. They are feeling the pinch so they are tightening their belts!
:)
Richard,
The pipeline always requires tending. Both in good times and bad.
Rich
Richard, so true. I am striving to make time to market at least one day a week...
That is so true and the sister to the premise is keeping the cash flow constant, both month to month and year to year. Paying those estimated taxes after a good year gets tough if the pipeline ran dry.
Absolutely. Even when you are crazy busy you need to keep up the marketing. It's all about consistency.
Featured @ Club Chaos
Richard, You said it in your title "discipline and determination", consistancy and balance even during the hectic times. Great photo!
Gloria
Richard - So right, yet it takes an exceptional effort. I guess I need to read tihis post of yours again as a reminder. Thanks
Richard...managing the highs and lows is sometimes the hardest part of this job.
This is a mistake that many make. Marketing should be part of the daily business plan. That funnel needs to be full.
Nice photo again, Richard to capture the essence of the blog "highs and lows."
What lows?
LOL!
It is a easy mistake for an agent to make. If you don't prospect for new business, it is a matter of time before the pipeline runs dry. Good advice Richard.
Richard:
This is probably one of the most difficult concepts for a new agent to understand since, when you are busy, it feels as though it will never come to a halt. However, if you discontinue your marketing efforts - it surely will.
As a realtive newbie to this business, I don't know how many times I've heard this from successful agents...and what's also true is that your advice is a basic sales process that ALL very successful salespeople have been using for decades.
BTW, I really like the pic...is it the Blue Ridge Mountains?
Richard, wise words for all, and perhaps one of the most profound real estate thoughts anyone in our industry can read. With a few minor adjustments over the years, I do essentially the same thing each day, every day, since the day we opened our doors. In our case, it is work expireds consistently. And earlier this month I closed on a FSBO I contacted because I still contact them.
That may not be everyone's cup of tea. But the point is to get a cup of tea daily, not just when you hear crickets.
Richard, this is a lot easier said than done. It's the only way to have business during down times. Great advice. Thanks.
Of course, past of my daily plan is to write at least one blog post ... no matter what!
I do it on Holidays, vacation, whenever, and have not missed a day in over two and a half years. That helps me stay in a lead-generation state of mind.
The photo is looking South into North Carolina from about 5000 feet elevation from a lookout on the Newfound Gap Road in the Great Smoky Mountains National Park. Thanks for asking.
Richard, this message NEVER gets old. I constantly need to be reminded of this, despite the obvious benefits I get every time I heed it. Thanks.
Funny you should have brought this topic to the surface; just yesterday I came to the conclusion that I need a more rigid commitment from my self to be consistent to my online en devours: FB, Twitter, LI, Biznik, & of course AR & YouTube. I am becoming very active in most of these and need to become more regimented.
Thanks for the thoughts........
Right on. A good calendar system helps me to keep all my tasks and goals lined up.
It's really a simple principle easily implemented (if one is not afraid of committing to it). Great post and I can attest that Barbara Todaro also preaches this same sermon practically on a daily basis.
You need to have a system. Either your own or buy into someone else... for me Buffini works... but it is still the same thing..constant contact, reminders, pressing the flesh, cards, calls and pop-buy. I try and do at least one hour a day...every day! naturally some days are more. Just keep your focus. Actually I am getting ready to write 10 cards right now (I missed yesterday so I make it up today)
Richard, I promise to never forget this again. I've made that mistake and paid for it by almost running out of gas. NEVER again. Great post, great picture, great message.
Richard - Great advice! It's definitely more difficult remaining consistent with my marketing efforts when things are busy, but that is the MOST important thing for me to do so that the pipeline doesn't dry up.
Richard- Those that are successful are those that have learned this lesson, like you. Thanks for the well said reminder to plan to work and work the plan.
Richard. We all certainly need to heed your excellent advice in this post. How many times have we pushed aside the vital task of marketing when times are good? Who knows...... too many to count over the last 22 years. But, due to your reminder I for one will try to do better and be more consistent! Thanks!
I've been real good about this so far this year and it's starting to payoff...feed your database daily.
Great post Richard. This happened to us in our first year. We marketed like crazy, got incredibly busy and has closings left and right, and during that time we didn't put any efforts in to marketing. Guess who had a slow winter?
Your friends in Fort Wayne
Richard, I have contended that this is a 30 hour a day, 8 day a week business, maybe even 13 months to the year. There is no such thing as no calls, no work, it's be consistent and active so that when it does get slow, there's no change and perception is that you're still the person to call. When it's busy, do the same because the pipeline needs to stay full.
Getting all the pieces in place takes time and planning but will pay off big down the road. I don't think agents get enough training on prospecting and lead generation... but there's plenty of info on Active Rain to help them. Your mountain photo is gorgeous, by the way!
So True, but it is easy to forget when things are hopping.
Well said....although it sometimes seems like a challenge to do that extra marketing when things are crazy busy.....happy to just catch my breath sometimes.
It IS crazy at times to try and fit in everything in a day....but we do have to find that time to continue the flow... good one Richard!
It is so true! Took me 5 years to actually practice it, but once I started it, I've not had a lull sense. Let's hope it stays that way! Excellent advice.
Richard, you are so right. You need to generate leads consistently to have more consistent business!!!!!
Good information here today as usual. Being consistent is key. I particularly like the comment above that Gary made about not waiting til you run out of gas to go to the gas station. How true....
Patricia/Seacoast NH
Well put, consistency is the key no matter how busy or slow you are.
That's such a good lesson for all of us after the crazy spring & now slower-than-normal summer. I definitely wish I'd spent more time prospecting, though I don't remember having much in the way of free time then. But it's a lesson learned & not soon forgotten.
Richard, you're so right. Going into the winter months, prospecting is a great time to rewind and get started on next years success.
Richard - Talking about the highs and lows of a realtor makes us sound bipolar - lol
This is such an important concept, and one I've gotten better at over the years though I still need to do more improvement.
Ah, that consistency thing. So important. Thanks to someone else asking re the gorgeous picture and thanks for explaining it. It's a gorgeous area and when we head to Cherokee we pass by it.
Sue of Robin and Sue