Goal Number 1 is All That Matters...
Focus on Your Number 1 Goal?
?
For those of us in real estate the market has certainly become challenging. Rates in the high 7%s and low inventory have made it difficult to find buyers and sellers, making the daily lives of agents and lenders harder than it has been since 2009-10. So today I want to give 1 tip that I think is going to be the key to success in 2024.?
FOCUS ON YOUR NUMBER 1 GOAL!?
When the market gets tough everything starts with having qualified prospects. No clients and nothing else matters. So we must focus on prospecting, building our client pipeline and closing deals.?
2024 will not be the year to focus on...?
领英推荐
Focus on finding clients, then focus on it some more. Everything else can take a back seat until you have the pipeline full and know that you will cover your bills and get through the year. While so many are leaving the mortgage business or turning in their real estate licenses, we need to survive this market and still be here in 2025.?
“But Michelle, rates will come down soon.” ?
They are likely to come down soon, but does anyone really think they are going back to 3.5%? What if they come down to 5%? Does that create a crazy rush by buyers while inventory is still low? The answer is probably.?
“How low do you think rates have to go before sellers are willing to move on from their 3.5% rate? ?
It will take a while for a lot of sellers to make that decision, but divorces happen every day, families grow, people relocate... there will always be people that need to or want to sell.?
But these questions do not change what we need to do. To get through the next year (maybe longer), we must focus on finding qualified buyers and sellers. If the market goes down 30%, we must work 30% harder. When others leave, their past clients need a new lender and agent, and we must be there to help them. But you must focus on finding these people.?
Now to be clear, I am not saying do not work on your social media and websites but focus on using them to get clients now. Goal number 1 is paying your bills, so closings matter more than anything. Stay focused, work hard and be in the industry when it gets easier (hopefully in 2025).?