Expand Your Education with These Courses from
Effective Presentation Skills for Sales Professionals: Skills for Sales Success: Part Five.
Negotiating Skills: Skills for Sales Success: Part Six.
Expand your education through NAR's REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
Accredited Buyer's Representative.
Bundle 3: CIPS Institute (Non-US Version).

Real Estate Agents Re-Think Strategies to Remain Competitive

Interested in more details on this topic? Click here!

competitive_business_strategyReal estate agents have a challenging career that requires them to be knowledgeable in various areas of the market, have a sense of what buyers and sellers are looking for and be available to clients during off-hours and on weekends. In an increasingly competitive economy where buyers are trying to secure mortgage loans and close real estate transactions quickly, agents are also tasked with working efficiently and in the confines of the law to avoid potential E&O insurance issues. As the market continues to evolve and agents are forced to be more aggressive, many are reconsidering the strategies they are using to close deals and turning to time-tested methods to boost business.

The tactics real estate agents choose to rely upon may vary based on the individual markets in which they operate. For instance, in stagnant economies that have yet to see consistent signs of recovery – such as in Las Vegas, Nevada – many agents are taking a “back to basics” approach to winning over new clients that includes cold-calling, community networking and being more proactive about hunting down leads, Vegas Inc. reported. Open houses have also come back into style, as has relying upon postcards, newsletters and other marketing materials to help agents establish themselves among certain neighborhoods that may provide business opportunities to struggling agents.

In addition, the article noted that prior to the housing market collapse, many agents were so inundated with new and consistent business that they frequently shied away from transactions that involved foreclosures and short sales, both of which require agents to work more closely with financial institutions to seal these deals. In today’s economy however, these types of transactions provide many agents with regular business, despite the increased paperwork and communication that it may bring with it, the news source notes.

Busy markets see more aggressive sales techniques
In other markets that are characterized by shrinking inventory and aggressive housing demand, real estate agents are abandoning traditional marketing tactics and instead trying to stem the tide of buyers and sellers through unique tactics. For instance, in Texas, shortages on homes for sale have prompted many agents who once utilized the traditional multiple listing service to market properties “on the side,” according to the Dallas Morning News.

Continue Reading 1 2

Interested in more details on this topic? Click here!

Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2016 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>