Mess or Mass? Controlling the Mess Before It Controls You!
So what’s the basis of YOUR business day....cleaning up messes OR accumulating mass?
I’m sure we all can reminisce about our younger years and those regular occasions when our Parents would tell us to “Clean Up Your Mess!” On those occasions when I actually did it right, the praise I received for a job well done reinforced a mentality that was much more far reaching than I knew.
So fast forward to our lives today, throw in a real estate career, and you have the makings for a reality TV show filled with great stories of how well we clean up our messes! And each time we solve the problem at hand, we’re often rewarded with a “feel good” moment that reinforces the fact that our time was well spent.
And what a perfect market for it! Today’s pricing and appraisal challenges...increasingly stringent qualifying criteria that’s leaving more than a few quality loans at the risk of being approved....the “other” agent who may not hold up their end of the bargain by carrying their load of the work...all add up to a well defined “to do” list of messes to fix! And, I’m sure you could add a few of your own favorites to this list. But what’s the outcome of this revolving door of challenges?
Forget the Crystal Ball! Be the First to Know What’s Coming!
When it comes to real estate, we’ve all heard there is no crystal ball....OR IS THERE?
More than ever, being informed, and learning to interpret your market’s specific economic factors will keep you one step ahead of your marketplace AND your competition.
Understanding the principles of “Supply and Demand” is a great place to start.
In Real Estate, we normally define these 2 simple factors as:
#1: Active Listings, which represents SUPPLY
#2: Sales, which represents DEMAND
The information is pretty basic...however, it’s the patterns of that information that will provide you with insight into where your market may be going!
BBQ'ing Sacred Cows: Protect Your Profit and Profitability!
So how’s your profitability doing? If it’s not where you’d like it to be, maybe it’s time for a good old fashioned BarBQ!
More than ever, both real estate agents AND real estate companies need to protect their profit...
Every dollar counts...and profitability has always been a product of two factors, not one!
First of all, you must make every effort to increase revenue by taking saleable listings, working with qualified buyers and ultimately putting those commission checks in the bank!
Secondly, you must consider your business costs. CUT THE FAT AND NOT THE STATS, by eliminating wasteful costs of doing business while protecting those costs that are helping you create business!
So just what does this have to do with a BARBQ? Well, when analyzing your business costs, you might have some “Sacred Cows” that have gotta go.