Q: “Denise, I know I am not the only one having a weird year. Spring is usually my busiest time and while I am lucky to have had a steady stream of transactions, due to COVID, overall my production is down. I am not concerned about the financial side because I have some other transactions coming up, but usually by 4th of July I am totally wiped out and need a break. I use that as an excuse to coast through the summer and then come fall, I am stressed out about lack of business! This COVID thing has been a blessing in disguise. I like the steadier pace and not freaking out. How can I make this pace my new normal?”
A: What a great question! As a managing broker, I noted that when it came to pace of business, there were mountains and there were rivers. Mountains do a lot of business at once and then crash; if you graphed their income through the year, it would appear usually as two mountains. Rivers, on the other hand, prefer a steadier pace and their income graph looked more like a river.
Although many people think they want to be rivers, their natural pace is actually more inclined to mountain mentality. They thrive on stress and become more efficient in the process. For most rivers, if you doubled the number of transactions, they might short-circuit! It isn’t unusual for a mountain to want to become more river-like, and there are some things you can do to move in that direction:
1) Connect with your database throughout the year – Why does it seem like this is the answer I always give for business challenge? Because it is the #1 thing you can do to provide predictable income. I recommend mailing good, solid, real estate content which includes market information on a monthly basis to your database which includes past clients, potential clients, current clients, and your database.
2) Check your lead generation – Depending on what you are doing for lead generation, you might want to adjust your plan so you have more predictable leads trickling in throughout the year. For example, if your primary way of generating leads is open houses and you only do open houses when you get listings, then perhaps you amp up your listing lead generation but have someone else handle some of the open houses from those listings – or refer out the buyers and take referral fee.
Consistent action is the best way to move mountains.
If COVID-19 has you rethinking your business model, I invite you to my upcoming Amplify business planning workshop!
We are going to do a deep dive into your business, do some editing and analysis, and help you redefine your plan and amplify your success!