A Market Made for the Best Sales People

In Episode 405 of the HyperFast Agent podcast, host Dan Lesniak reviews a recent article by Michael Dupree, published by Market Trend.?

Dupree points out that even though the 2022 real estate market might appear to be down, it is really at a normal level historically. 2022 is simply coming behind two of the best real estate market years in recent history (2020 and 2021).?

“2022 is right at the historical averages are estimated to be, just a percent below,” said Dan. “So we're very, very close to normal. It’s just real estate agents got used to this environment where there were 10 percent more deals and 20 percent more deals and tons of offers. Buyers were waving everything, homes were selling fast.”

“It was an environment where good agents did really, really well, and average agents or less than average agents did okay, too,” said Dan.

“2022 is kind of back to normal,” he added. “So what does that mean for real estate agents?”

“There's still more commission available to real estate agents because transactions are down, but prices have gone up a lot in the last two or three years,” said Dan. “So even with less transactions, there are more commissions out there than 2019, than even 2020. And it's only slightly off 2021, which was a record setting year. So the total commission pool is the same.”

“There's just more agents now, less deals,” said Dan. “So what does that mean? I think it means we are switching to an environment where people with high sales skills are going to do well. People that do not have high sales skills are going to struggle.”

In this episode, Dan outlines some specific strategies agents should be considering to capitalize on the current trends.

“Cut out things that aren't working and really dive into improving your sales skills,” he said.

“This is a market designed for people with high sales skills, which in my mind is a normal market,” said Dan. “Go out and learn. Get better prospecting techniques. Get better at marketing.”

“I think one of the areas that real estate agents really need to focus on, that they probably haven't … is start getting good at calling expireds and FSBOs,” said Dan.

“Get good at tracking your lead sources,” he said. “Focus on the things that have the highest ROI.”

Listen to podcasts like this or go to hyperfastacademy.com,” said Dan. “There's tons of good resources, good places where you can go to get the training. So, are you going to do the training to get better? Are you going to put in the time to really refine and hone your marketing and prospecting? Are you going to put in the time to have better conversations and bring more value to your buyers and sellers? If you answered yes to these questions, you will be one of the agents that doesn't just survive, but actually thrives during this changing market.”

For more, watch or listen to episode 405 of the HyperFast Agent podcast with Dan Lesniak.