5 Tips for Bulletproofing Your Real Estate Business Through Any Market
Being in the real estate industry in 2022 was like selling tickets for Taylor Swift’s upcoming Eras tour. You knew it was going to sell, you knew it was likely to sell at a higher price point than listed, and you knew for every one person that didn’t buy… there were a hundred people behind them that would. Just as ticket holders weren’t worried about demand, agents had no need for bulletproofing their real estate business.
It was basically a feeding frenzy.
Well, 2023 isn’t shaping up to be an encore of 2022. So far, it’s seen historically-high interest rates, falling housing prices, and concerned buyers. But that doesn’t mean it’s doomed! It just means if you’re selling tickets (houses) and you know it’s going to be a tougher sale (AKA you’re selling tickets to anyone other than T-Swift) then you just need a better strategy.
That’s where Curbio comes in. Curbio is one tool of many that we’ll discuss that will make your business absolutely:
…and possibly even tee you up for a better year than 2022. You ready?
Here are 5 tips for bulletproofing your real estate business through any market:
1. Take an ROI-focused lens to your lead gen
Lead generation is often treated as a checklist: agents will often populate similar platforms as their competitors to stay relevant and top-of-mind to their client base. But lead generation isn’t one-size-fits-all, and in a bear market that can be a very dangerous mistake to make.
A lead generation tool that works for others may not work for you for a variety of reasons, and vice versa. The best way to get an objective look at your efficacy is to track the data. Record what you spend on which outlets and what drives a return on investment.
Then, start cutting expenses. For the channels that aren’t delivering ROI, you can no longer justify the expense (at least not for now). But for the ones that are delivering solid leads – even if their paid or on the more expensive side – don’t fix what isn’t broken! Keep what’s working and even possibly expand.
2. Double-down on relationships
Any real estate agent worth their salt will tell you that relationships drive this industry. Nurturing long-lasting relationships is the way to foster your referral business, and your referral business is likely to produce the best sources of revenue for your business.
Remember during uncertain times like these to take a person-first approach to your clients. You’re their agent second, but you’re also just a friend living in the same inflation/interest rates/recession/layoffs world as them. So this tip is less about bulletproofing your real estate business, and more about keeping you in touch with your humanity. Leading with compassion will help keep your connections authentic, more real, and more beneficial to you both in the long run.
3. Change up your marketing strategy
What may have worked for you last year, may not anymore. Take the same bullish approach with your marketing spend as you do your lead gen. This is not the time to cut your marketing budget – this is the time to get creative and exploratory.
What isn’t working, get’s chopped.
What is working, get’s doubled.
(Pro tip: Try video.)
4. Keep an eye on market opportunities
As the housing market shifts, it rarely shifts all at once. That means that if your local market starts to cool, the same may not be true of nearby markets. Expanding your service area could have long-lasting effects, not just short-term gains.
Just because fewer people are buying and selling near you doesn’t mean transactions have slowed entirely. Follow the business! And remember to expand in more ways than one: looking outside your normal price ranges may be helpful too.
5. Win more business
Real estate agents who can offer pre-listing home improvements to their clients are much more likely to win their business. 40% more likely, in fact. In times of economic uncertainty every dollar of equity becomes that much more important to homeowners.
Agents who can offer their sellers a way to simply and quickly sell their home not for 100% its value – but 128% its value – are going to beat the competition 10 times out of 10. And if agents are able to offer their clients a pay-at-closing solution… there won’t even be a question of competition.
Offering Curbio to your clients means you’ll:
- Guarantee project completion 50% faster than the national average
- Help homeowners sell their homes for 28% more
- Empower sellers to pocket $80,000 in profit
- Win 40% more listings… and limitless referrals
With these tactics your business won’t just come out of 2023 unscathed – you’ll bullet-proof your revenue stream through any market, and any economic climate. If you want to learn more about Curbio, check out how the Curbio process works. If you’re ready to get a free, no-obligation estimate – start your journey here.