In a downward trending real estate market, maintaining brand awareness is crucial. It can be tempting to cut back on marketing and investment when listing numbers are low and exposure to potential sellers is limited. However, it’s important to remember that in real estate, “listings breed listings,” and even in a down market, agents need to continue prospecting and promoting themselves to maintain a strong presence in the market.
It’s important to remember the fundamentals of real estate sales during a downturn, and that means focusing on prospecting and self-promotion. Cold calling, door knocking, and flyer or letterbox drops can still be effective ways to generate leads and find potential sellers. You can also partner with local businesses or clubs to expand your network and increase your exposure in the community. Don’t forget the importance of maintaining your brand awareness even when listing numbers are low, so invest in your marketing efforts to stay top of mind for potential sellers. By putting in the effort and investment now, you can set yourself up for success in the future.
Cold Calling and Door Knocking
In today’s digital age, it’s easy to overlook traditional prospecting methods like cold calling and door knocking. But in a down market, these techniques can be highly effective. By directly reaching out to potential clients, agents can make a personal connection and show their value proposition in a way that can be hard to achieve through other marketing methods.
Flyer and Letter Box Drops
Another effective method for promoting your services is to distribute flyers or letters to local households. This can be a cost-effective way to get your name out there and reach potential clients who may be considering selling their home in the future.
Partner with Local Businesses or Clubs
Partnering with local businesses or clubs can also be a great way to promote your services. For example, sponsoring a local sports team or community event can help get your name in front of potential clients and show that you are invested in the community.
Maintain a Strong Online Presence
While traditional prospecting methods are important, maintaining a strong online presence is also crucial in today’s market. Make sure your website is up-to-date and easy to navigate, and consider investing in online advertising to reach a wider audience. Social media can also be a powerful tool for promoting your services and engaging with potential clients.
Focus on Client Relationships
In a down market, it’s more important than ever to focus on building strong client relationships. Make sure you’re providing excellent customer service and going above and beyond to meet your clients’ needs. This will help build trust and loyalty, and can lead to valuable referrals down the line.
Investing in your real estate business during a down market can be challenging, but it’s essential for long-term success. By focusing on cost-effective marketing and prospecting techniques, building strong client relationships, and maintaining a strong online presence, you can stay top-of-mind and continue to attract new business even in a challenging market.
In conclusion, while it may be tempting to cut back on marketing and investment during a down market, it’s important to remember that a lack of investment can be detrimental to an agent’s business in the long run. By focusing on cost-effective marketing and prospecting techniques, building strong client relationships, and maintaining a strong online presence, agents can stay competitive and continue to attract new business even in a challenging market.
How can Commission Flow help you?
Commission Flow is a commission advance service providing Real Estate businesses and agents with a great opportunity to proactively build financial security through more leverageable working capital.
With us, agencies no longer need to wait until settlement to receive their commission. Instead, you can access your funds as soon as you need them, with payment made in as little as 4 hours.
“With Commission Flow, our pending commissions are being paid the same day. This gives us so much control over our finances so we can put the income towards what the business needs now, rather than waiting for settlement to clear,” says Rory Somerville, Managing Director for Ray White Bendigo.
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National Sales Manager
Property FinTech Sales Manager ||
Empowering our real estate partners to maximise their selling potential.
Ensuring access to quality marketing to all property vendors and solving cash flow issues within real estate businesses.
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