Are you "hulking" up your business plan?

 

Hi folks. As most of you know, my market Poinciana Fl is in the middle of a major decline in property values and REALTORS® working this market are really struggling to make ends meet. It's brutal and getting worse. But what can you do? I've been selling real estate in Poinciana for 13 years and have no intention of changing my market area. Homeowners in Poinciana are going through a difficult time and they need me. It's my market and I will ride it out and help as many people as I can until it changes around. Might take a couple of years but "it is what it is".

One thing is for sure, the strong will survive and I am as strong as they get. Not bragging….just fact. This difficult market will make me better at what I do. It will force me to reevaluate the way I do things and help me to improve on my techniques and marketing. To me that's a very good thing. There's nothing worse, when you own a business, than to get stagnant and too comfortable. Change is good. Challenges are even better.

So, over the last few months I have been redirecting my business plan. Here are some of the things I have been doing.

  • Increased my advertising dollars.
  • Started directing more of my marketing towards generating Buyers.
  • Hired a Buyer's agent to handle these Buyers for me.
  • I'm working diligently to increase listing inventory.
  • Spending time, daily, educating my Sellers on current market conditions and getting price reductions.
  • Increased exposure for my listings on Craigslist, Postlets, Trulia, etc….
  • Aligned myself with a property management company that will pay me referral fees for management contracts.
  • I have a couple of new websites in the works including a point2agent site to help with getting Buyers.
  • I'm brokering a new company, starting in September, for family members who are in the Timeshare business(Disney Vacation Club). Stay tuned for more info on this.
  • Working on getting my data base of Investors excited, about getting back into the game, now that prices are coming down.
  • Reorganizing our own rental properties to free up equity.

All of these things are designed to increase my market share and provide additional income streams. Will these things work? Well, in the worse market EVER in Poinciana I did over 1.5 million worth of business in July between new listings, closings and pending sales. Folks, when things get difficult it's time to take action. This is the perfect time to gain market share. When the market does change, I'll own it and be ready for the next boom. Will you?

***Picture compliments of Robert Schwabe. Thanks Robert! I LOVE it!

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