I created a Facebook post the other day explaining why a downturn market is the best market for skilled agents. To give you a quick overview of it, it’s because of the abundance of listings and how agents that are able to sell in downturn markets can almost name their fee as they have a proven track record of selling in trying times. I went on to state that in downturn markets, sellers are also prepared to pay for BIG marketing campaigns in order to get their properties sold. This post received a lot of interest and I had someone ask me a very good question which I want to share with you.
The question was, “surely in a downturn market with up to 50% less sales than that of a normal market, ALL agents can expect a drop or lowering of sales due to half the amount of sales to go around”.
As I said, this is a great question and you would expect that he is correct, however, what most people do not realise is that the knowledge and skill of every agent is not the same. Not the same by a long shot. Some agents are highly self-educated and have enormous amounts of knowledge which has developed them into a highly skilled Professional. While other agents, who have not taken on a coach or continued to educate themselves, will simply not be able to function in a tight or downturn market due to their lack of knowledge, skill, and experience in the industry.
The sad thing is, the reason why there’s 50% less sales is that the agents that are selling the homes are not skilled enough to get more sold, leaving thousands of properties unsold. This has been proven beyond any shadow of doubt by sellers changing agents after being on the market for an extended period of time with no interest, only to have the new agent come in and use a different approach or strategy to get it sold. It has also been proven that the top 1% of agents are able to sell in any market. Not only do they have a higher listing to sale ratio, they are able to sell properties in a third of the time than the average in the state or country.
That means that the top agents who have had extensive training and coaching, who learn and adopt SYSTEMS, STRUCTURES, SCRIPTS & DIALOGUE, SALE STRATEGIES, SELLER MANAGEMENT SYSTEMS, RAPPORT BUILDING and COMMUNICATION SYSTEMS, and also have the ability to convert and educate both buyers and sellers will always prosper in any market and even THRIVE IN A DOWNTURN MARKET.
To find out more about adopting simple strategies and systems into your business can see you generate more leads, listings, and close more sales while working less than you currently do, make sure you don’t miss out on the upcoming Real Estate Brilliance seminar. Simply click the button below to register for your FREE seat.