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Thursday, February 10, 2011

7 Key Strategies For A Successful Year In Real Estate

If we look at the most successful entrepreneurs in our industry since the market downturn, we see that they all have one thing in common. Can you guess what it is? No, it's not bank inventory. Yes, inventory is a key component to any real estate success. Last year, 40% of properties sold in our area were foreclosures and 13% were short sales, which leave a large pool of more traditional sales (47%). Is that surprising? It was to me. However, I continually heard agents complain throughout the year that they wanted to break into the bank owned business, even though there was actually more inventory to be had in other categories. In fact, before properties become "bank owned", aren't they most likely a short sale opportunity? In reality, we all had an equal opportunity to get 100% of the inventory without ever dealing with any bank to do so. How do we put ourselves in the position to capture this business before the banks step in?

Key strategies that must be addressed for success:
Lead Generation
1.) What is your internet strategy?
2.) What is your social media strategy?
3.) What is your database management strategy?
4.) What is your farming strategy?
5.) What is your strategy to find these short sales?
6.) What is your referral strategy?
7.) What is your unique value proposition?

In order to effectively manage all of these components we need systems:
What Systems do you have in place to address these strategies?

More to come...

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