Although real estate is booming right now, many real estate agents might feel like their business is severely struggling. And because real estate agents only make money when they are actively helping people buy or sell properties, if these aspects of your business have slowed down, your entire livelihood can be at stake.
Luckily, there are some things you can try to help jumpstart your business and hopefully get things moving for you once again. To help you see how these things can be done, here are three ways to give a boost to your struggling real estate business.
Start Working Your Current Network
While you might think that you need to find all new people and prospects to work with to give your business a boost, what’s actually likely to be most effective for you is to start working your current network.
To do this, you might want to reach out to your network of contacts or people that you’ve worked with in the past and see if there’s any way you can be of assistance to them. And if there isn’t, you may want to consider offering them some kind of incentive for giving you a referral to anyone who might be in need of real estate services. Because your own network can only go so far for you, asking for help through an extended network can yield some great results for you.
Market Yourself In Unexpected Ways
If your phone hasn’t been ringing, you might want to turn your attention to doing some more marketing in order to get your name out there when people do need real estate help.
Depending on what you’re already doing to market yourself, you might want to try to venture down some different marketing avenues that are unexpected while also making perfect sense in your industry.
One way to do this is to put a sign in your own yard, or the yards of people within your network, advertising your name and business. This can be a great way for people to see your name and face and associate you with real estate work. Then, when they are in the market for an agent, your sign will be first in their mind.
Find A Need You Can Fill
Many real estate markets are very oversaturated with agents right now. So if you’re having too much competition for listings, you might want to think about how you can offer some additional services to other demographics in order to bring in more business.
Take a look at where you’re living and see if you notice any segment that’s currently being underserved. If you can find something, try to pivot your business so that you can offer services here and open up another facet to your business.
If your real estate business has been struggling, consider using the tips mentioned above to help you find some ways to breathe new life back into your business.