Feast or Famine - Getting through Slow Real Estate Periods
There are many careers without steady paychecks month after month, and real estate is one of them. You are flooded with calls from your clients in the spring and summer months, with a steady stream of leads to work. But once the weather cools, so does the market. In the winter months, work may slow down if not come to a standstill. But having no or slow work in winter doesn’t mean your business as a realtor can go on a hibernation. Here is how to make the most of available time during slow real estate periods.Grow your networkIt can be difficult to find time for networking during the peak seasons, so take the slow periods as an opportunity to work new leads and add new customers to your client base. Attend more community events and business lunches to increase your list of friends and professionals. Follow up with these contacts during your spare time.Learn new marketing skillsYou know you are hard pressed for time during summer months. Why not use the available time during slow months to develop new marketing skills that would help in selling properties faster and add to your profits? Instead of wasting time fighting for leads and deals that are impossible to materialize, concentrate on learning new skills that will come handy when the going is good. You forget that you need to market yourself as a realtor when your hands are full during the peak season. Another option is to do courses and attend classes to add to your licenses and degrees as a realtor. It will boost your career and you will reap the rewards in the future.Try out new nichesApartment and condo specialist? First-time homebuyers? Veterans? There are plenty of niches for properties and customers alike that you can focus on in order to develop different specializations. Try luxury real estate or become involved with pre-construction homes to broaden your horizon. The more you diversify, the better your prospects are as a realtor.Don’t waste your time during the off season trying to generate more sales. Utilize this time to grow yourself and your business.