Publisher’s Desk: Don’t Sit at Home…Get out There

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RISMEDIA, June 2008-If you’re not one of the many brokers cutting back on expenses these days, chances are you know several who are. Let’s be honest-tough times call for a prudent approach to spending, so reducing costs in the right places is a smart strategy for maintaining profitability or, as the case may be, staying afloat.But let’s define “the right places.” Budget cuts must be made wisely in order to ensure the continued growth of the team, even in a down market. Cutting back on advertising, for example, might seem like an easy and obvious place to save money, but are you doing damage to your business in the long run by taking your team brand out of the public eye? This is worth considering before taking an axe to your marketing budget.

Travel and training expenses might seem like another logical place to cut spending, but again, are you doing so at the expense of your team’s business? We find that the brokers who are excelling in today’s market-and/or simultaneously shoring up for a strong presence once the market turns-are those who are continuing to invest in educational and networking opportunities. By doing so, they are learning strategies that can be put into place today to counteract market challenges. They are continuing to build their businesses as opposed to remaining stagnant and just “waiting the market out.” After all, who really knows how long the wait will be.

So take a discerning look at the business-building events that might best serve your team and select at least one to attend-don’t cut back in this area all together. Please be sure to consider RISMedia’s 19th Annual Real Estate Leadership Conference in New York City this September. This event will feature more than 16 sessions and over 80 expert speakers. Known and appreciated for its intimate venue (session attendance is limited in order to encourage an interactive environment), the Leadership Conference also offers several networking opportunities-many a valuable relationship or key idea has been exchanged among brokers at this event. For more information on The Leadership Conference, please click here.

Whatever your choice may be, don’t sit back on the sidelines and wait for things to change-be an agent of change and bring new life to your team.

Wishing you continued success,

John E. Featherston
CEO & Publisher

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.