The irony of the currently sluggish market is that REALTORSⓡ will likely spend more time getting to know new clients than back in the spring and early summer when historically low mortgage rates and inventory issues resulted in bidding wars for many houses and super-fast sales. That extra time with each other could result in referrals down the road, and there are few better ways to land new clients than that way.
Additionally, we all have the same life lament…‘If only I had more time I could get this or that done.’ For many REALTORSⓡ, now is when that extra time may be available. The market is napping in most places, the holiday season has folks distracted, and it’s likely things won’t pick up until early spring. So it’s not a good time to get things done, it’s a great time! Meaning updating marketing and social media, mailing holiday cards to people you’ve helped buy or sell a house previously, making friendly calls to touch base, and more.
We asked agents if the slow market has been useful in some ways and what they’ve been doing. Perhaps some of their ideas and strategies can give you a spark. Here’s what they had to say.
“The current market has certainly given us all the time we didn’t have before to get reconnected with a lot of our sphere, friends and even family, so I would say yes!”
–Craig McKenzie, BHGRE McKenzie Realty, broker/owner
“What I love about our agents is that they are disciplined in their relationship-marketing efforts regardless of the market. We have built a whole office based on repeat and referral business. We do monthly note-writing accountability sessions, quarterly customer-appreciation parties, monthly seasonal pop-bys, monthly item of value mailings, and scheduled coffees and lunches with clients. The work you put in now helps your results in 60-90 days.”
–Nikki McCarthy, BHGRE Lifestyles Realty, director of marketing
“Most of the clients I have worked with have been with me for a month or more, so yes, I find that enables me to get to know them well.”
–Patricia Martin, BHGRE Native American Group, REALTORⓡ
“A lot of my business is with buyers, and even in that super-hot market we spent a lot of time together. With multiple offers on each house, we kept getting beat and having to start all over again. In any market, especially with buyers, we spend a lot of time together, and that time is so intense. I’m having to ask deep questions about their hopes and dreams for themselves and their families. I’m standing there during the many fights between husband and wife, I’m playing with the kids so their parents can focus on the house…it’s so intimate! It’s hard not to fall in love with every client I have.”
–Leisa Wilcox, RE/MAX Homes and Estates, Nashville, Tennessee, REALTOR®
“I have always done my best to spend the time needed with each client, based on their personality and preferences, not my own. In a hot market it is more of a challenge, but still necessary. Sometimes it means making extra trips for in-person signings, or more phone calls. Whatever they need to feel secure.”
–Heather Hanlon, BHGRE The Masiello Group, REALTORⓡ
“Yes, this market has given me the opportunity to ramp up my business-marketing skills as well as more time to interact with clients.”
–Liz Moreno, BHGRE Connections, REALTORⓡ
“A slower market can allow for better balance and prevent buyers from having to make desperate decisions which may not always be in their best interest. This extra time allows agents to better educate their clients. At the end of the day, what’s most important is that your clients have their goals and objectives met, they find the perfect property that checks off the most important boxes for them, and they feel great about the decisions they make.”
–Suzanne Dye, BHGRE S.J. Fowler, associate broker
“No, it is the same for me. With my buyer clients, even in the hot market, we spent a good amount of time together because houses were so difficult to get under contract. You had to have a solid plan together. For sellers, while I sold their house in a few hours or days, I still had to find them a new house, and in that market it was tough!”
–Tim Grant, BHGRE Metro Brokers, REALTORⓡ
“Getting to know your clients right from the start is always key, no matter how long the relationship and the current market conditions. They must immediately know that you have their wants and needs in mind. That’s the key to a beautiful start of a long-lasting relationship.”
–Scott Beaudry, BHGRE Universal, broker/owner
“Not exactly. I think to be consistent in any market you must build relationships with clients no matter what the temperature. With the slowing of the market, we are using the time to plan more engaging experiences for our clients.”
–Jemila Winsey, ERA Legacy Living, broker/owner
“It is my feeling that no matter what the timeframe or circumstance of the transaction, I take as much time as needed and give my undivided attention throughout the process. I do not feel like the more or less time you have with a client should be a factor on how well you know them or the service that you provide. However, when it is a time-sensitive situation it’s important to ask the right questions quickly so that you can learn more about the client and their goals. Doing a great job in a crunch situation will earn you a lifelong client.”
–Leslie Price, ERA Venture Real Estate, broker/owner
“It takes time to build trust and it helps to understand what clients need in a new home, as a family or as a future investment. Their vision is very important and being close to them helps you take them on that journey to achieve their goals. That’s the journey I feel grateful to be part of.”
–Ruba Wight, ERA Cayman Islands, property advisor
