Real Estate Sales in a Down Market

by Steve Mayes of R.E. Vest Network LLC ( 13-Apr-2012 )

In a down market the phone rings less and the email in box is less full for most agents. In addition revenue starts to decrease. When this happens many agents start to cut costs on their business, usually marketing and advertising dollars. Cuts in an agents budget should be their personal budget.  Cut out the excess things that you can only afford when making lots of money in a good market such as the daily gourmet coffee and the frequent salon/spa visits. Cuts should not be made in the marketing end, at least to the marketing that works.  A down market is a great time to take market share and increase your client list from agents that have fallen out of the business or are cutting their advertising dollars.  When potential buyers and sellers do not see their agent in the local paper or stop getting the monthly postcard, they start to wonder. Is my agent still in business?  If they cannot find that agent's contact information, they will likely look for an alternative.  Market more in a down market, and always know where your business is coming from!  It is important to track your leads and closed sales as a real estate sales agent. This way when you do have to trim you know where to trim from.  Happy Selling

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