The 5 Cycles of Business in Real Estate
Startup: New agents starting in real estate within the last 5 years.
Growth: You’ve figured out what you’re good at, and your business is increasing (people, marketing, and, innovation).
Cash Cow: These are the agents who make real estate look easy, and they are crushing it!
Fading Winner: Was once a cash cow, but has missed the mark on marketing and innovation.
Restructuring: Were once great at a niche, but that niche has adjusted or gone away.
2 Steps For Growth
Step One: Know Your Market
I’ve talked about it before, but the consumer is looking for hyper local experts.
This means you are out there previewing homes, studying the hot sheets, and understanding the market better than anyone else!
When you understand the market you know exactly where you fit within it!
This means you’ll know where to focus: buyers, sellers, lead sources, etc.
When you know your role you can spend the time, energy, and resources in the right places and go all in!
All in, doesn’t just mean all in for a short time…
You are in it to win it, and you own that niche for the next ten years!