Maintaining your Margins with Increasing Fuel Cost in your Real Estate Business

Regardless of whether your real estate career focuses on representing sellers or buyers, your automobile is one of your most valuable sales tools in this business.  So how do you cope with a slower real estate market and rising fuel costs in Kentucky.  The price at the pump is something that you can’t control but you do need to run your real estate career like a business so you need to take pro-active measures to keep within your budget. 

In other businesses, the accountants and managers get together and make the decision to pass the rising fuel cost on to their customer via a Fuel Surcharge.  Could you imagine trying to get that signed off by your clients?   So how can you cope with rising fuel costs?  There are several things that you can consider to reduce your fuel expense.  Consider the items below and be thankful that in recent weeks that the fuel prices in Kentucky have been coming down.

• Tune up your car to get the most mileage out of each tank.
  • Properly inflate the tires per the owners manual
  • Clean or replace the air filter
  • Replace the spark plugs and or plug wires if they have over 60,000 miles on them
• Invest in Technology to eliminate some driving.
  • a fax server (Efax) service to eliminate driving to pickup/send faxes
  • a Smart-phone to access emails where you are, staying up to date can avoid driving back and forth
  • a GPS device to plan more efficient routes to show properties with less back tracking
  • a power inverter to power your laptop to avoid
• Pre-qualify and Pre-Approve your customers before showing properties.
• Utilize Virtual Tours to eliminate some properties before going out to show properties.
• Localize your business and send referrals for business outside your local market area.

Hopefully, you will utilize some of these to reduce your fuel consumption and when the fuel prices lower as they have over the past few weeks you will be realize higher margins in your business than before.

Questions:  Email me at Mike@ExitMidSouth.com 

At Exit Realty our agents have the ability to fill up their fuel tanks with their Exit Success Card, a debit card that is filled by the corporate office residually.  If you want to know more about how to get this unique benefit then please click on this link to our website www.ExitMidSouth.com or call 615-523-3133.

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