The turn of the calendar is a great time to reassess your old business and consider your prospects in the new year.
Have you already set your new year goals? Now you can put those plans into action!
Don’t let January pass without considering these 10 tips to move through the new year with a game plan that can help you grow your real estate business, especially in a tricky market.
Evaluate Your Goals
If you used Patten Title’s fall guide to brainstorm ideas about improving your business in the new year, now is the time to pull out that paper. Consider what moves you can make now to tackle your short-term goals and what actions you can take to make the long-term goals a reality. Let your vision be your guide this year.
Send New Year Emails
It’s officially January and the start of the new year. Send a ‘Happy New Year’ email to clients who might be considering life changes. Now is your opportunity to highlight trends in the market, build enthusiasm for new ideas for house hunting, and remind your clients that you are available to help with their real estate needs. Use Patten’s Buyer or Seller consult packs to arm you with the resources you need to succeed.
Boost Your Brand on Social Media
You can utilize the same New Year salutations to find new clients on your social media channels. Through Facebook and Instagram, you can help first-time buyers or new sellers navigate the market with your insight into trends and your area. PattApp and Breakthrough Broker are both full of helpful resources that can guide your social media direction and help you set a content calendar for the year!
Send a Letter
Everyone loves a feel-good story. What was your best sales story of the year? Write a short letter about how you made someone’s life better and include a photo of their dream house (of course, make sure you have the client’s permission for the letter content). It’s even better if they’ll provide a short testimony about how they’re starting the new year in their new home. Send this letter or postcard in your quarterly newsletter, and mailings, and post it on your social channels.
Cultivate a New Niche
There are dozens of ways to repurpose or add to your business. Specialization is another way to find new avenues of revenue. Consider turning a portion of your marketing focus into an untapped market, like military personnel or housing solutions for divorcing couples. If you have previously specialized in first-time home buyers, you might add a commercial real estate element to your business. Explore various social media groups that specialize in these niches.
Reflect and Dissect
Ask yourself a series of questions about your success in the past year.
- What were your biggest successes?
- Why were they successful?
- What were your biggest challenges?
- How did you handle them?
- Is there another way to address future challenges?
- How much time and money did you spend marketing, and what was your ROI?
- What sorts of operational changes can you make to improve your business?
As you answer these questions, consider detail in your reflection process. The more you can clarify, the better you can tailor your approach for the future.
Conduct a SWOT Analysis
After reflection is the best time to start SWOTting. What is SWOT? The acronym stands for Strengths, Weaknesses, Opportunities, and Threats.
This technique often leads businesses to new ideas and perspectives. You can SWOT once a year or biannually to gauge how your previous analysis is faring.
Segment Your Days
Develop a plan that creates a workday revolving mostly around income-generating activities. What tasks are vital for you to perform, and which are better for you to delegate? Consider who in your office should spend most of the day on cold calls, lead generation or reaching out to past clients.
Then, schedule time each month to learn a new skill. Consider LinkedIn Learning workshops for yourself and your staff in areas that will build the most ROI. As you develop a daily plan, make sure to have creative time penciled in. When you work in chunks, your brain can rest and be more productive.
Focus on New Marketing
Let’s be honest: when aren’t you thinking about marketing? You know that everything matters, from website design to social media to personal appearance. Split your time into the areas of marketing that fit your strengths and improve your bottom line. That could include getting to more public events or developing new ways to create the ultimate user experience for your website.
As your partner, Patten Title provides marketing resources to help real estate professionals cultivate the business tools they need to drive success.
Hold Yourself Accountable
How will you ensure that you and your staff have performed each day, week, and quarter to work toward your yearly goals? Find ways to hold yourself accountable.
Some people turn to a peer in another field as an accountability partner or seek the guidance of a mentor. Others use rewards as goal markers, like a staff party or taking a long weekend. When you develop an accountability plan that can parallel your yearly goals, you are more likely to exceed your mark.
Plan out your year using o