Four standards that can help keep your business strong in trying times.
The Federal Reserve just raised rates by 0.5%, and that news comes among so many negative headlines. As a purposeful practitioner, there are four things you can focus on to mitigate the effect of these rates. We call these standards, and they’re all things you control:
1. Activities. The more the buyer pool shrinks, the more prospecting activities you need to execute. If your goal was to make 50 calls a week, now you need to do 100. If you wanted to host one open house, now you should do two. Whatever your business-generating activities are, do more of them.
2. Skills. These are techniques, tools, or ideas that can help you convert. Are you developing the appropriate dialogue strategies and data to have valuable conversations with clients? Are you using your CRM appropriately? Do you have the correct listing presentation and pricing tool? Do you have the right mindset and attitude, or are you passing on doubt and uncertainty to your clients?
“You control these standards no matter what the Fed might do.”
3. Results. We can all complain about how hard this market is. However, you have to set those goals and hold yourself to them no matter what. You need to be a result-oriented practitioner.
4. Core values. What do you stand for? What are you unwilling to negotiate on, and how do you live up to those values every day?
These are the four standards you can control no matter what the Fed does or how many sellers are in the market. If you have any questions about these standards or real estate in general, feel free to call or email us. We’d love to hear from you.
