We almost called this one, “5 ways to fail in real estate” or “5 ways to lose in real estate.” But negativity never helped anyone.

 

It’s time to stop pining for the not-too-distant past of the home-selling frenzy. It’s time to stop worrying about what’s not happening and focus on what could be happening or what can happen.

 

2023 is the year to concentrate on winning, on reviving what makes your real estate practice unique or possibly even reinventing your business.

 

 

1. Recreate Your Presentations

 

The listing presentation of early 2022 may seem obsolete in 2023. Everything from market data and comps to an office’s approach to competitively differentiating properties has changed. So must agents and brokers.

 

Go beyond the listing presentation. Rewrite the listing presentation both literally and figuratively. Let the new presentation reflect more than the new market conditions and your office’s ability to react to or get ahead of them.

 

Rebrand and reinvent: Even a fresh headshot with a catchy slogan tailored to your market can bring new attention. Especially when advertised to your target areas.

 

2. Plot Some New Courses

 

Motivational speakers refer to the old saying, “A ship in the harbor is safe, but that’s not what ships are for” to encourage people to get out of their comfort zone.

 

But even leaving the harbor is not much of a risk. Not for the ship. Not for the crew. Not for whatever gain they’re hoping to achieve.

 

Goal-oriented risk taking can position a business for success:

 

• Invest in new technology and marketing

• Analyze costs and benefits of hiring a real estate coach or life coach

• Join additional associations; expand your reach to new ZIP codes.

• Take classes on new innovations in real estate marketing

• Offer your experience to newer agents

• Present at community town-hall meetings; give time to new civic and community organizations.

 

3. Reframe Your View of Competitors

 

For starters, don’t give the competition a leading role in your thoughts. Service to clients sits at the forefront of success. Rather than wasting time on how other offices are succeeding, run your own show that puts your strengths in starring roles.

 

Take classes to augment your skills. Hire associates to complement the existing talent on the team, not to duplicate it. Look for new team members whose expertise and natural gifts fill skill, culture or personality gaps in the business.

 

Next, look at others with a learning mindset, not competitive thinking. By bolstering each other and working collaboratively, agents and brokers on competing teams provide better overall service to clients and feed each other’s pipelines.

 

 

4. Outsource

 

What takes time and resources from your efforts but brings little return by way of revenue and joy?

 

List these tasks. Some agents thrive on the nuances around contract negotiations and transaction details. Others are more comfortable getting out in front of the community or crafting clever marketing materials.

 

Some know they need to reach a larger audience and have all kinds of ideas to share with prospective clients, but have no time to turn the ideas into social media posts or blogs. There are professionals out there ready to work for you on a contract basis managing all of these tasks and more.

 

Can your home stager or photographer take care of posting signs and managing lock boxes? Perhaps the photographer has talents with brochure design.

 

Those same people may know other freelancers such as accountants, writers, attorneys or social media specialists you can hire. Hiring those people to do a better job than you can do will free you up for the areas in which you excel.

 

5. Reach Past Good-Enough

 

Mediocrity can get the job done. But it won’t bring notoriety or exceed goals.

 

Start by ensuring that you offer truly all-inclusive services.

 

Finish the sentence “When you hire us …” by listing various tools and services every buyer and seller receives.

 

Next, expand on that list by showing how you can incorporate other technology, tools, communication and services tailored to each client. Show clients you’re listening to their needs by getting specific about the uniqueness of what they will receive when working with you.

 

Give examples. And keep track of clients’ success stories.