Real Estate

Cheat Sheet: What’s In And What’s Out In Real Estate?

Do you ever wish you had a cheat sheet for all the changes and trends in the industry that impact the decisions you make in every aspect of your business? Or like in the gaming world, someone to send you the “cheat codes”? 

At Inman Connect Now, all of our sessions have replays on demand, so I went through some of them again from our April event to pull together a quick cheat sheet. Some are trends, and some are things to cut out of your business now. 

You can make some quick tweaks to your business to stay sharp, and be the agent everyone wants to work with. Join us on May 18 for even more strategies from the best in real estate!

What’s in and what’s out in real estate

In: Building your ‘migration referral’ black book.

Migration referrals are way up. Folks are pulling up stakes and moving to new states. If you’re short on referral resources, build your agent referral network specifically where many are moving. 

Out: Asking another agent for feedback when their offer lost out in a bidding war.

Do you have your MLS, showing service, or email campaigns sending out feedback questionnaires to agents who lost out in the bidding war? That’s now a bit tone deaf, and not needed in this insane market. Make other agents your friends.

In: Spending more quality screen time with clients and prospects, over communication, and empathy.

You’re tired, they’re tired. Exhausted. Nerves are a thing. Over-communicating your best advice, your timing and negotiating tactics in your client’s best interest is hard when things are moving so fast. Spend some extra time nurturing those relationships.

Out: Love letters to sellers. Stop encouraging these.

(Discrimination and fair housing may not be in compliance when these letters are written by buyers and presented to sellers with their offer. Keep the playing field level for everyone.)

In: Never lose your integrity in a transaction

This is not new, but it’s happening. Things are hot, emotions are high, and buyers may want to try desperate things. Protect the buyers. Get them to make good decisions. Decisions are not just for this moment. Provide an equitable process. Lots of coaching helps when people are calm and you can educate them. 

Out: Losing your confidence in this market

It’s easy to get overwhelmed, and lose confidence. By sticking to the repetitive things you know, you will always default to competence. Know your forms, contracts, listing agents and market data, tried and true basics. You got this. 

The Inman Community is here for you, and every month with Inman Connect NOW. Our next event is May 18, and we’ll be back big-time in June. 

Watch your inbox for a personal invite from me, and I’d love to connect ahead of time on Facebook. Keep going — you’re doing great!

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