It’s quite obvious by now that the real estate market that’s ahead of us is very different than the one we just came from. Things are going to be more difficult for everybody. Buyers and sellers will feel the pain of higher interest rates and real estate brokers will experience a decrease in overall volume.
Remember that you and your real estate business are just that – A business. Whether it’s just you or you and a team of other brokers, as a business, you have to look at curbing your expenses and maximizing your profits during a downturn like the one that we are experiencing.
Here are 4 ways agents can navigate the changing real estate market:
Take a look at what it costs you to do business. Is your current brokerage charging you monthly expenses? Do they charge you periodic fees like annual errors and omissions or technology fees, or other miscellaneous fees? Move to a broker like NellyCorp Realty, where your brokerage expenses are zero dollars per month. Our transaction fee of $299 per residential closing includes your errors and omission and all overhead. Once you are a member of NellyCorp, you will never have monthly, quarterly, annual, or other miscellaneous expenses. Ever. You can learn more here.
2. Increase Your Income
If you’re currently in a traditional real estate brokerage where you are paying 10, 20 or 30% to your broker, begin to question why. If you can’t justify it, then move to a company like NellyCorp Realty, where you keep 100% of the commission minus our transaction fee. If your business volume goes down 10, 20, or 30%, then you’re likely not to feel it once you’re at 100% company like NellyCorp. Learn more here.
3. Marketing Investment
You really need to develop a marketing plan. You should invest in your business during downturns because now more than ever, you need to get in front of your potential clients. How much is your current brokerage investing in your personal brand? At NellyCorp Realty, we invest up to $500 per month in our real estate brokers who have developed marketing plans that can be supercharged by having us invest with them. Learn more here.
4. Broker Support
Make sure your brokerage management team is not too busy struggling to generate business for themselves. Move to a company like NellyCorp Realty, where the management team is completely focused on your success. We don’t represent buyers and sellers at the management level. We are simply too busy working directly and individually with our brokers to make sure they are on track to meet their goals.