The Three Simple Rules of Real Estate

The Three Simple Rules of Real Estate

Over the past several years, real estate has been a business of high return and low days on market.  Full price offers were written at open houses and multiple offers were the norm.  Today, agents speak a new vocabulary to sellers and buyers.  The short sale estimate has replaced the seller’s estimate of net proceeds and there isn’t a seller to be found who wants to test the market.  B and C credit buyers have faded into the woodwork along with 100{0a8e414e4f0423ce9f97e7209435b0fa449e6cffaf599cce0c556757c159a30c} finance seekers.  Squeaky clean credit is a must and high loan to value ratios are nowhere to be found.  These significant changes in the real estate climate have many agents feeling like Charlie Brown on a bad day. What is an agent to do?

We are real estate agents and real estate is a simple business – simple, not easy.  Even in the best of markets successful real estate agents work 40-hours+ helping buyers and sellers reach their goals.  And the more I observe the successful and the not so successful, the more convinced I am that no matter the market area, region or conditions, there are three simple rules of real estate for agents to remember.

  1. Listings are the name of the game. No matter the market conditions, your personal inventory is the foundation of your business. Without listings you are a store without merchandise and shoppers will pass you by.
  2. Practice proactive prospecting activities every day. Real estate is a contact sport. Get in front of as many people you can, work the motivated buyers and sellers, incubate the others and they will be yours in time.
  3. Personal promotion pays. The secret agent doesn’t get anywhere. Contact your sphere of influence regularly. Get involved in social media networking. Start a blog and become a valued resource for information about local market conditions, positive changes, values, the economic stimulus package, etc.

Owning a home has long been the American dream and when we follow these three simple rules, we will continue to play a significant role in helping make that dream a reality.

Related Posts

Privacy Policy  •  Do Not Sell My Information  • 
BHGRE logo

Get the latest news in your inbox!

Sign up to get the latest from BHGRE.