For many, the changing status of the economy during the COVID-19 pandemic is nerve-wracking. Similarly to the 2008 housing crisis and 9/11, people have started to pull back on their transactions. Today I’ll share five things you can do to help you stay in this business if your brokerage or team isn’t leading you to make the best decisions.

1. Have the right mindset. According to Lawrence Yun, Chief Economist and Senior Vice President of Research at the NATIONAL ASSOCIATION OF REALTORS®, there has only been a 10% adjustment in the number of homes that will come off the market. That means 90% of the homes are still there. There was demand for homes before the pandemic hit, and there will be demand after things have begun to settle. We don’t know how long this will last, so we just have to shut out the negativity and stick to our plan of helping people’s transactions move forward.

2. Ramp up your contacts. Prospecting is a fundamental part of this business. Many agents have said that they’re in the referral business, but if those people are relying on referrals alone, they’ll quickly go out of business. We’ve increased our prospecting time from two hours a day to four. Now, we have to make twice as many contacts to do the same amount of business. But that’s okay—some people have decided to put off their transactions, so we have more time to dedicate to prospecting.

“We don’t know how long this will last, so we just have to shut out the negativity.”

3. Hold yourself accountable. If you were making a minimum of 20 contacts a day, make that 40 contacts, and track how many contacts go from set to met to signed so that you know how many contacts you’ll need to make to do one deal a day. If you can do one deal a day, you’ll be a top producing agent.

4. Be a leader and squash uncertainty. In this market where there’s a lot of uncertainty, you have to create certainty for your clients. We can still get things done for them, but we have to tell them what the next steps are.

5. Provide world-class service and value. Now is the time to hone your knowledge and experience so that you can be of true value to your clients. If you pick one subject a day and study it for 30 minutes each day, you’ll watch your knowledge grow, allowing you to give them an unbelievable experience that nobody else has spent the time to curate.

If you have any questions or would like to hear about how you might benefit from joining our team, reach out and give us a call.