It’s 3pm on a blustery winter day and you drift off to the perfect daydream. On the boat, on the ocean, with a cocktail in hand. The tropical vision is so real you squint at the sun gleaming across the water, smell the saltwater in the air, and feel the wind in your hair as you set sail towards the perfect destination! This type of vision is perfect to get you through a dreary afternoon in the office but now it’s time to work on the vision that will help you sail through the complicated year in Real Estate that lies ahead!
New Year, New You? 2020 is all about the New Decade, New View. Real Estate, like many other industries, is ever evolving. As we enter this new decade it becomes clear, that now more than ever real estate is all about the vision. The vision to see beyond the trends of the past, to embrace the trends of the present, and to create the trends of the future.
2019 was an interesting year in real estate. Millennials topped the list in the buyer category, Baby Boomers comprised most of the sellers, and inventory shortages plagued markets across the country. Supply and demand created a seller’s market; however, prices did not rise to the occasion. Average home prices rose only about 3%. Will 2020 continue these trends? How can you build or maintain a successful real estate business?
Analysts are split between real estate trending towards a buyer’s market or a seller’s market for a 2020. While limited housing supply could indicate a seller’s market, savvy buyers looking for the deal of a lifetime might push the trend towards a buyer’s market. Sellers have little motivation to sell and when they do sell, they insist on listing their homes approximately 20% above market value and buyers are holding firm on lower offers. If this trend continues, 2020 could go down as the year of the stalemate.
Embracing the current market situation does not mean you are powerless to effect change. Knowledge, education, and preparation can help you build or grow your real estate business despite today’s volatile climate. The first and most important step in gaining these skills is choosing the right agency. The agency you choose should provide you with both the tools and the training you need to be successful. Among the tools you will need are the following “must haves”: a lead generating/lead capturing website; blogging platform; company email; CRM; access to classes with nationally recognized coaches and mentors; and weekly training sessions to help you learn how to use each of these tools effectively.
Your current situation is much like the boat in our tropical vision; while things are going well it’s smooth sailing but when things are not going well it is important to use your energy wisely. “In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks.” —Warren Buffett. Make 2020 the year marked by positive changes, perfect vision, and your most productive year thus far!
