4 Phases of Real Estate

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...

The best real estate agents follow a similar life cycle. Industry expert Tom Panos explains the cycle, saying that there are typically four unique phases of real estate.

1. The Launch Phase - This is the phase where agents starting out learn about the basic fundamentals of buyer management and how to qualify a buyer.

2. The Growth Phase - In the growth phase, they start looking at building their own personal branding in their local market place [and] getting known to at least 50 per cent of the owners in their farm area.

3. The Pinnacle Phase - The Pinnacle Phase is when agents start making big money in real estate, Mr Panos said.

“This is the cash cow of real estate,” he said.

“And if you can stay in this phase and get momentum, you can stay in it for as long as a decade. But Mr Panos warned, “Staying in momentum is easier than getting into momentum.”

4. The Fading Star Phase - Mr Panos pointed out that some agents move out of the Pinnacle Phase as their energy and motivation to do the work declines.

“Here, they move into the Fading Star phase,” he said. “They may have been a million-dollar agent, the attraction agent in their marketplace, but they get burned out and they are not enjoying it anymore.”

At this point, the Fading Star can only go in one of two directions.

“They either disappear completely or they transform themselves.”

“The comeback can be stronger than the setback for many of these people.”

Looks like really useful info, eh? Just click the link https://www.realestatebusiness.com.au/features/sales-and-marketing/11465-the-4-phases-of-real-estate to find out more from the horse’s mouth! If you’d like to share perspectives or discuss how it relates to your business, call me on (0402) 024-625 or email me at [email protected].