RISMEDIA, Nov. 5, 2008-EXIT Realty Corp. International CEO & Founder, Steve Morris, announced recently that he expects the real estate market to begin to turn around in the second quarter of 2009. With this in mind, EXIT asked some of its key regional leaders, “With the bottom of the real estate market being formally announced by the end of the 2nd quarter of 2009, what 3 strategies would you give both a broker and a sales representative to prepare accordingly?”
“Do whatever it takes to survive,” stated Rick McDaniel, Regional Owner of EXIT Mid-Atlantic (MD, DE, DC, WV), in a presentation at EXIT Realty’s 10th Annual Convention held at the Gaylord Opryland Resort & Convention Center in Nashville, TN.
McDaniel’s three strategies are:
1. Build Your Inventory. “The only difference between a sellers’ market and a buyers’ market is the average number of days a listing stays on the market. Watch these statistics from your local MLS closely. Get [the listing] priced right, whatever that may be,” he recommends. “As the market comes back all these properties will sell and someone will get paid!”
2. Grow Your Business. “Now is the time to build a strong company by continuing your recruiting efforts.” Consider absorbing another office, company or team.
3. Remember the ethics of sales. “Know what your prospect needs then do what it takes to help them to a satisfactory solution.”
“Don’t get paralyzed by fear,” McDaniel concluded. “Cut expenses, renegotiate leases and use the technology that’s available to you. And remember, as the market comes back, don’t get caught up in rapidly increasing your expenses.”
For more information, please contact Rick McDaniel, EXIT Mid-Atlantic 410-287-9000 or visit www.exitrealty.com