Being based here in Perth I often get frustrated when I hear media reports talking about how the market is booming. They’re usually based on what is happening in Sydney or Melbourne, while for many years Perth has been in a decline.
As we all know, there is not just one real estate market – they vary from city to city and suburb to suburb.
Right now some of you might be going gangbusters and stock is flying out the door, for others properties are taking much longer to sell.
While one situation might sound more positive, both come with challenges.
If your area is booming you might be wondering where the next listing is going to come from and how to compete with the other agencies vying for limited stock. If your local market is struggling you might be thinking about how you can reduce days on market, dealing with sellers’ expectations and attracting buyers.
The truth is, we are always going to face some kind of challenge, regardless of the state of the market, pandemic or disruption, but you can ride the wave, or even create your own if you have solid systems, procedures and policies that take the risk out of volatile and uncertain markets.
So, what are some of the key systems you should have in place?
- Lead generation systems – door-knocking, letterbox drops, cold-calling
- Annual marketing calendar
- Database building, management and maintenance
- Scripts for everyone who communicates with clients
- Your ideal week
- Appraisals follow up systems
- Systems for conducting a listing presentation
- Home open procedures
- Systems for following up after home opens
- Vendor management systems
- Creating a client for life
Systems save you time, energy, money and stress – we should all have them, during the good times and bad. I’ll be going over some of these and more in my upcoming FREE half-day Real Estate Brilliance webinar, so be sure to join me and discover for yourself how simple systems can help you survive and thrive, whatever market you are in.